Public Service Loan Forgiveness? Yes please!
January 31, 2012 By
The Department of Education has recently made improvements to the PSLF process. While the requirements remain the same, they are more clear, and there's a variety of new documentation to help get you through the application process.
Start Fresh Today and LegalPRO Systems, Inc. form Strategic Partnership to Deliver Credit Counseling and Debtor Education Courses
January 27, 2012 By
PRESS RELEASE For Immediate Release Contact Stephanie Tolley Start Fresh Today (954) 377-9368 phone stolley@startfreshtoday.com Start Fresh Today® and LegalPRO Systems, Inc. form Strategic Partnership to Deliver Credit Counseling and Debtor Education Courses Integration Provides Expanded, Single-Source Access to...
Racial Disparity in the Consumer Bankruptcy System
January 23, 2012 By
Are African-Americans not getting the "fresh start" they deserve when filing for bankruptcy? According to a new study entitled "Race, Attorney Influence, and Bankruptcy Chapter Choice," by Jean Braucher of the University of Arizona and Dov Cohen and Robert Lawless,...
Milwaukee Judge Cites Bankruptcy Preparer for Contempt
January 13, 2012 By
The Milwaukee-Wisconsin Journal Sentinel’s Cary Spivak reported on the latest ruling cracking down on the “hotbed for bankruptcy petition preparers” that is Milwaukee. Chief Bankruptcy Judge Pamela Pepper cited Jennell McKinley for contempt of court and will be facing...
2011 Personal Bankruptcies Down 12%. 2012 Expectations???
January 12, 2012 By
According to a new report from Fitch Ratings, 2011 personal bankruptcy filings declined by 12% to 1.35 million from the year earlier. It was the first decline in four years, possibly resulting from somewhat improved economic conditions and decreased...
New Maryland Rules Require More Proof in Debt Collection Cases
January 4, 2012 By
When a debt collection company or buyer shows up in District Court, they are usually just going by a person’s name, last known address and Social Security number to obtain a judgment against that person. Reacting to a flood...
Future Income and Bankruptcy Fraud
December 15, 2011 By
Every so often, there’s a local news story about someone who has been convicted of bankruptcy fraud. This week, the case belongs to one George Raynor, of Baileyville, Maine. While the case itself isn’t exceptional in any way, it highlights an important precaution for potential bankruptcy filers to note in order to avoid a fraud conviction.
What Is Bankruptcy Fraud?
Bankruptcy fraud is exactly what it sounds like: a bankruptcy filer’s provision of false information to the court that alters the outcome of his or her bankruptcy case. In some cases, bankruptcy fraud can be unintentional, but its penalties are steep: those convicted of bankruptcy fraud might face up to five years in jail and up to $250,000 in fines.
Common examples of bankruptcy fraud include an attempt to shield property from the court; a filer might attempt to transfer property from his or her name to the name of a friend or family member or might simply fail to report ownership of a piece of property or sum of money.
But bankruptcy fraud can also occur when a filer fails to mention income he or she is expected to receive in the future. Raynor’s case falls into this category.
Reporting Future Income in Bankruptcy
According to the Bangor Daily News, Raynor and his wife filed a bankruptcy petition in 2006 but, in their list of assets, did not mention:
- A savings account in a bank;
- A deferred compensation retirement account valued at roughly $150,000;
- A lump sum payment from his retirement account in the amount of $97,000; and
- A payment from his former employer of $12,000 as compensation for unused sick and vacation days.
Now convicted of the charges, Raynor could see as much as five years behind bars and fines of up to a quarter of a million dollars. To date, Raynor’s sentencing has apparently not been scheduled. Often, the amount of the fine assessed on a bankruptcy fraud conviction roughly equals the amount of money or value of property that the filer attempted to withhold from the court.
Avoiding Bankruptcy Fraud in Your Filing
One of the easiest ways to avoid bankruptcy fraud is to work with a bankruptcy lawyer. Working with someone who is familiar with state bankruptcy laws and the procedures of the bankruptcy court can go a long way toward avoiding mishaps that could delay or derail a case.
Lawyers can also advise filers about which of their assets they must list, whether gifts or property transfers will be considered legal by the court, and what outcomes they can expect from their bankruptcy case.
In cases where a filer may have future income due to him or her, a lawyer can help determine how to calculate the value of that income and how to report it on bankruptcy filing paperwork.
Ho, Ho, …Hum? Make the Most of Your Holiday Downtime
December 13, 2011 By
You’re stuck at the office but things have slowed to a crawl. The phone’s not ringing and you’ve already updated your Facebook page. What to do? The Legal Intelligencer has a great post by Neen James with some great tips...
iPads Proving Technology of Choice for Many Lawyers
December 8, 2011 By
A report in the New York Daily Record notes that lawyers in large numbers are reporting using—and loving—their iPads. This report suggests that bankruptcy lawyers and others are embracing new technology to interact with clients in new and exciting ways.
Since the gadget’s introduction in the spring of 2010, iPads have sold more than 40 million units, outpacing many estimates and suggesting a sea change in the way people interact with digital media. In particular, though, iPads have proven popular among attorneys. Here’s a look at the numbers for law firms with 50 or more attorneys:
- 25 percent noted that the iPad would be their next major technological purchase.
- 11 percent reported already having bought iPads for their lawyers.
- 55 percent indicated that their IT teams are employed at least in part to help with issues involving lawyers’ personal tablet devices.
- Of lawyers who use a tablet device for work, 89 percent prefer the iPad.
- Fully 15 percent of lawyers utilize their tablets to do work when they’re not in the office.
At firms with over 500 attorneys, those numbers are even higher.
How You Benefit from Lawyers with iPads
More so than other technological innovations of recent years, the iPad promotes connectivity from anywhere. Attorneys who have and use iPads (at work and on the go) may be, according to the numbers, more able to stay in touch with clients.
That could translate, for example, to not missing a bankruptcy court deadline when a client remembers something at the last minute. It could also mean that lawyers are more accessible to answer questions clients have about their cases.
In various contexts, access to a tablet computer like the iPad means that a lawyer can connect to vast databases of legal publications within seconds, thus potentially streamlining the processing of much client information and of tracking down legal precedents for various courtroom maneuvers.
Highly connected lawyers have a greater likelihood of staying current with the latest legal trends reported in the mainstream media as well as traditional legal publications.
A Permanent Change in Communication?
Analysts of the impact the iPad has had (and is expected to have) on our communication and culture as a whole are not yet sure how great an impact the tablet’s introduction will have on the way we do business and conduct our personal affairs.
Some insiders suggest that, viewed through a historical lens, 2010 will mark a turning point in how we conduct business, read, interact with digital media, and go about our personal lives. Want to find out whether the iPad craze has swept your lawyer’s office? Ask him or her about technology use during your next visit. You may learn something useful!
Bankruptcy Lawyer – Things To Consider When Choosing a Bankruptcy Lawyer
December 8, 2011 By Leave a Comment
By Abraham Avotina -
In a world increasingly dominated by concerns with capital, it is important to have a bankruptcy lawyer with a solid understanding of your finances and some of the options you may have should extenuating circumstances arise on your side. The monetary demands of our day-to-day lives can be many times demanding. We are continually amassing costs for living, transportation, medical bills and other expenses. Sometimes when unfortunate circumstances befall us we are forced into a situation where we cannot meet our debt requirements. If your wages begin to be garnished and debtors and creditors are calling your residence repeatedly, you may be in the market for someone who can provide some financial relief. For those of us who have little to no other recourse, a final option may be bankruptcy law.
When you are in the market for a bankruptcy lawyer there are some things you should keep in mind. Many of these law institutions are well versed in the typical arrangements and procedures involving filing for this declaration. When debts befall you and you are unable to meet your creditors demands, finding the right representation and legal services can be of great importance. These types of financial issues can cause tremendous stress, so finding experienced professionals can help ease you through this process. If you have an interest in filing and would like more information, many of these legal service providers offer free consultations where you can become informed about the process. Many of these doctors of law offer many services in addition to legal representation related to filing this declaration.
Another thing you may like to think about when you are hiring an attorney is their overall experience. Make sure that the people you hire for representation have experience in the legal code and case law so that they are versed in the types of services you may require. To check on their experience it may be as easy as visiting their web-site or asking people in the office for information on past client experiences. Professional representatives in this field have the expertise that allows them to guide you through the process of filing with ease and comfort. This stress-free approach can reveal for you the best options going forward financially. Some elegant providers even offer more extensive credit counseling services so you can reclaim your life and rebuild your financial reputation.
There are many aspects to filing bankruptcy that you need to consider when hiring a lawyer. Not only are there issues of wage garnishment and taxation, but other property and possession issues may arise. The right professionals can help with even possible foreclosure procedures and other things you may need assistance with. When you choose a representative in the legal field, make sure you are choosing someone with a high degree of professionalism. These experienced service providers recognize that filing is a difficult decision and are sensitive to your needs as a person both financially and emotionally. Many are even aware that you may be in this situation by no fault of your own. A receptive environment in the legal avenue can help you get through difficulties more easily.
Whatever the reason behind your legal difficulties, when you decide on a bankruptcy lawyer be sure that you consider the many facets of the approach of the team you hire. Many providers offer services far exceedingly only legal assistance. Regardless of the reason behind your filing, be it divorce, unemployment, medical problems or the like, these professionals can help you get your life back on track. Finding professionals with the right expertise can help you file the right documents, get relief for the debt causing your issues, and help you get on the right track for the future of your finances. If you consider these key aspects when making your decision you should be able to find the right option for your needs.
A bankruptcy lawyer in Brockton can help you examine all the facts and definitively determine what you need to file for, guiding you through the potentially confusing process with skill. Learn more here: http://www.bankruptcycounselingcenter.com/.
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