Indiana Bankruptcy Lawyer Goes Before the Judges
Needless to say, going before a judge is an everyday occurrence for me and for all of the Indiana bankruptcy attorneys who work in the Zuckerberg bankruptcy law offices. Each of us spends a lot of time in front of bankruptcy court judges as we help clients file personal bankruptcy in Indiana or small business bankruptcy in Indiana.
Tomorrow’s appearance will be different, though, because I’ve been asked to lead a seminar just for Indiana state trial court judges. As a longtime debt consolidation lawyer who helped write a portion of Indiana bankruptcy law, this time my knowledge and expertise is being sought after as a lecturer.
Two of the topics that I’ll be covering in detail is the way bankruptcy law relates to domestic relations law and the way it relates to criminal proceedings.
Foreclosure – Maybe Not-So-Bad 4 Kids, Says Indiana Lawyer for Bankruptcy
A good part of my time as a lawyer for bankruptcy in Indiana is spent in efforts to help stop foreclosure. In offering bankruptcy services in Indiana I see many sets of parents – and many single moms. As a dad myself, I’m particularly sympathetic to both moms and dads trying to cope with financial problems and do the best for their kids. So, for all these reasons, I’m interested in research on how kids are affected by foreclosure and by bankruptcy.
Last fall, one of the Columbus bankruptcy lawyers who works in the Zuckerberg bankruptcy law offices there brought in an article she’dfound in MarketWatch.com, quoting a Federal Reserve officer saying that “Children could be prevented from realizing their potential in school, and, eventually, the labor force as consequences from the problem of home foreclosures.”
Then, just recently, in the course of my own reading to find important Indiana bankruptcy information to share with my Bankruptcy in Indiana readers, I learned that an Indiana University researcher has teamed up with three other universities in a study that will look at “why children’s grades often suffer when their families lose their homes to foreclosure. I.U. assis
Sharpen your pencils
I’ll be the first to admit, math is not my strong suit. Despite having a Tiger Mom and having taken years of Kumon I still have to reach for the calculator whenever I do math.
If you are mathematically challenged like me, you probably have no idea what your monthly payment is on a $10,000 credit card debt repaid over 5 year at 10% interest. How about 20%? 30%?
You may be surprised to learn that you would repay almost DOUBLE the amount you borrowed over 5 years at 30% interest.
Here’s the break down: Loan amount: $10,000 Repayment: 5 years
Interest rate/ Monthly payment/ Total amount repaid 10% $212.47 $12,748.23 20% $264.94 $15,896.33 30% $323.53 $19,412.04
To put these numbers into perspective, if you were to repay the same $323.53 at 5% interest, you would have repaid the ENTIRE loan after 34 months (that’s 2 years and 10 months). In ano
Gift Cards are Worthless if the Store is Bankrupt
Gift cards are a nice, convenient gift, but what happens if the store declares bankruptcy in Canada? The answer: you’ve got a problem.
Last week Global TV News ran a story about the bankruptcy of Tabi, a large women’s clothing retailer with 78 stores across Canada. All stores are being liquidated, and the liquidator is not allowing customers to spend their gift cards. You can watch the entire story here:
Have you ever wondered why almost every store, including grocery stores, have a gift card program? Obv
Lawyer For Bankruptcy in Indiana Notes How Foreclosures Hit the Rich and Famous
Just a couple of months ago in this Bankruptcy in Indiana article series, I remarked, “It helps to know bankruptcy was the solution for celebrity sports figures.” What I was aiming at is that, when individuals come to one of the good bankruptcy attorneys in Indiana who work in the Zuckerberg bankruptcy law offices needing Indiana bankruptcy help, before any productive planning can get done, the main message most of those people need to hear is that they’re not failures, and that they’re not alone.
In the past few years with the problems in the real estate market, many clients are turning to us bankruptcy lawyers in Indiana for help, not necessarily with bankruptcy, but to help stop foreclosure. While Chapter 13 bankruptcy law in Indiana can in fact be of enormous help in saving homes, before the planning can get done, the message needs to be heard: You’re not failures. You’re not alone.
What is a Motion for Relief from Stay?
When you file for bankruptcy, there is an Automatic Stay that goes into effect. The Automatic Stay basically prohibits creditors from calling, writing, or taking any action in an attempt to collect debts from you. (Think of it as being placed in a big protective bubble where you are immune from most creditors.) The Automatic Stay also stops banks from proceeding with foreclosure or repossession.
A Motion for Relief from Stay (MFRS) is a document that’s filed with the bankruptcy court and a way for creditors to get “relief” from the Automatic Stay. It’s a fancy way of saying “Judge, we want permission to continue with the foreclosure, repossession or sale of collateral.”
With foreclosures, a MFRS does not speed up the timeline required under State law to proceed with foreclosure. In another w
Rings and Things and Bankruptcy in Indiana
I’m no jeweler, but as a debt consolidation lawyer offering bankruptcy services in Indiana, I find that questions about jewelry frequently come up in connection with filing personal bankruptcy in Indiana. Maybe that’s because jewelry is smaller, and so that may make some people believe they can get away with “hiding” that asset from the bankruptcy court. Or, maybe it’s just because jewelry typically has a lot of personal memories attached. Often readers of this Bankruptcy in Indiana article series will write in questions and comments about jewelry, mostly Can-I-keep-my-jewelry-if-I-file-bankruptcy-in-Indiana sort of questions.
After close to 25 years offering Indiana bankruptcy help, I realize that questions like that are really part of a bigger, broader concern that most clients who visit one of the four Zuckerberg bankruptcy law offices have: If I file personal bankruptcy in Indiana, will I lose everything I have? The ans