Bankruptcy Chapters

Heres an email I got yesterday.

Dear Mr. Weed,

Just an update.  I did receive my clearance and thank you for your help.  I have a new question for you.  My mortgage on my house was included in my bankruptcy.  I have been paying it for the last year.  They recently changed my rate and raised my monthly payment by $1000 a month.  They offered me a refinance package that would only raise my payments by $400 a month.

Here is my question.  If I accept the refinanced mortgage, am I still covered by the bankruptcy, or is this a brand new loan and would no longer be covered by my bankruptcy from 3 years ago.

The answer is good news.  The bankruptcy does still protect you.  As lon

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Massachusetts Bankruptcy Court hearings are generally open to the public, Boston bankruptcy lawyers,debtors, creditors and occasionally the media. Transcripts of the proceedings are generally available as well. Some content is generally redacted, or excluded, such as “social security numbers, financial account numbers and minors’ names and birth dates.” In a May 2, 2011 decision by Bankruptcy Judge Henry J. Boroff, the Court was asked to look at the rules for allowing a portion of a public hearing to be redacted from the transcript of the bankruptcy court record.

In a Chapter 7 case that would not normally get this level of judicial attention, Verizon violated the rules of the Bankruptcy Court Automatic Stay. That is, after someone files for Chapter 7 bankruptcy protection, a creditor, such as Verizon, cannot continue to attempt to collect a debt from the debtor. All lawsuits are “stayed.” Creditors can file appropriate proceedings in the Bankruptcy Court, requesting a release from the automatic stay. This happens frequently in foreclosure cases, and sometimes in Massachusetts personal injury cases where insurance is involved.

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Tags: Bankruptcy Court, Massachusetts Bankruptcy, Massachusetts Bankruptcy Court, Transcript

Rolls-Royce sold the highest number of cars in its history in 2011, and it was all thanks to demand in China, its sales figures have shown.

The luxury British vehicle producer, which has been a figurehead in British motor history for 107 years, sold a record 3,538 motors last year.

This means sales were up 31 per cent on the year before, dominated bydemandfor its Phantom and Ghost models.

Tags: Royce

There is an old saying, “A drowning man will grab even the edge of a sword.” For a homeowner drowning in debt, any assistance may seem beneficial. Unfortunately, there are scam artists that use a desperate situation to make a few quick bucks.

Case in point is an Austin, Texas, man who recently pled guilty to operating a foreclosure-rescue scam. Frederic Alan Gladle, 53, admitted that for four years he defrauded homeowners that netted him more than $1.6 million in fees. According to court documents, Gladle used different aliases and the stolen the identity of at least one person to set up a mobile phone number.

Gladle, who played linebacker on the University of Southern California’s 1978 national football championship team and is married to the 1984 Playboy Playmate of the Year, charged distressed homeowners fees in exchange for fraudulently postponing foreclosure sales. He faces two to seven years in prison.

In a statement released by the U.S. Department of Justice, “Gladle admitted that he recruited homeowners whose properties were in danger of imminent foreclosure and falsely promised to delay the foreclosures for up to six months, in exchange for a fee of approximately $750 per month. G

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Tags: Homeowner, Homeowner Fraud

Saabs chief executive handed in the Swedish automakers bankruptcy application to a Vänersborg courthouse on Monday.

For the past two years Saab has tried to revive its company with its last attempt thwarted by General Motors, which owned the company for twenty years. Saab was trying to transfer technology to Chinese investors who planned to save the firm, but GM refused since it still owns some of Saabs technology licenses. Experts say, however, that Chinese investors would not have been able to save Saab.

Saab is expected to be liquidated with GM buying its patent rights to use on existing or new models.

If you are having financial trouble and considering filing for bankruptcy, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC at 414-377-0518.

Tags: Bankruptcy, Bankruptcy Application