Bankruptcy Law | Law Firm Newswire - Part 3

Des Moines, IA (Law Firm Newswire) April 1, 2013 – Preference actions return money to a bankruptcy trustee, for use in discharging a debtor’s debts. Many people are not aware of the preference action, which is a lawsuit, filed by a bankruptcy trustee, to get funds paid to a creditor before bankruptcy is filed. If the trustee has all they need to file, they must do so within two years of when the debtor files for bankruptcy protection. If they miss this deadline, the suit cannot be filed, indicates Iowa bankruptcy lawyer, Kevin Ahrenholz. The ability to get money back […]


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Brandon, FL (Law Firm Newswire) March 20, 2013 – An estate in bankruptcy means any tax refund will likely become the property of the bankruptcy trustee. Many Floridians are looking forward to receiving an income tax refund from the federal government in the coming weeks and months. Some will use it to catch up on their bills, and others will perhaps treat themselves to something special. But anyone considering filing for bankruptcy in Florida should carefully consider what to do with their tax refund. Brandon bankruptcy attorney O. Reginald Osenton warned, “A pending tax refund for a person in bankruptcy […]


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Des Moines, IA (Law Firm Newswire) March 8, 2013 – A large majority of Americans file bankruptcy because of overwhelming credit card debt. This is because they use their card to bail themselves out. The worst thing to do is bail out of a cash shortage by using a credit card. It is tempting to use it of course, because it gets one out of a tough situation. However, the balance keeps creeping up and once it gets large enough, there is no way to keep up with it any longer. Some companies charge up to 30 percent interest. Trying […]


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Des Moines, IA (Law Firm Newswire) March 1, 2013 – Not being able to pay the mortgage is a stark reality for many Americans these days. There are some tips to deal with this issue. It is not always easy to pay the mortgage when the economy is bad, remarked Iowa bankruptcy lawyer, Kevin Ahrenholz. In fact, more people find themselves defaulting, going under, struggling to hang on and losing, and are right up against the wall with worry. There are some options to consider. One of the first things to do is to talk to the mortgage lender. While […]


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Des Moines, IA (Law Firm Newswire) February 15, 2013 – Being a celebrity or a well known person does not automatically protect anyone from going bankrupt. There are any number of celebrities that have gone bankrupt and still rebounded to continue on with their lives. They have even come back to a more financially rewarding life. It can be done. Bankruptcy is not what it used to be in terms of being shameful and tantamount to a confession that someone was lazy or dumb or dishonest. It can happen to literally anyone, including the former Duchess of York, Sarah Ferguson, […]


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Des Moines, IA (Law Firm Newswire) February 8, 2013 – Medical bankruptcy plays a large role in many bankruptcies these days. This trend does not show signs of slowing down in the prevailing economy. Medical bankruptcy is more common than one might think explained Kevin Ahrenholz, an Iowa bankruptcy lawyer. In fact, medical bills and serious illnesses were cited as reasons for over half of the bankruptcies filed in America. There are approximately 3 million Americans seeking bankruptcy protection in any given year since the recession hit. In other words, medical bankruptcy may hit about one person every 15 seconds. […]


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Winston-Salem, NC (Law Firm Newswire) January 23, 2013 – The law firm of Spilman Thomas & Battle (Spilman) announced today that Rayford K. (Trip) Adams III, Counsel in its Winston-Salem office, was recently named to Business North Carolina magazine’s 2013 Legal Elite list for bankruptcy law. This year’s Legal Elite selection process included making ballots available to more than 20,000 North Carolina attorneys. Of the thousands of attorneys practicing in the state, only 3.5% percent were chosen as Legal Elite. At Spilman, Adams’ primary practice areas are bankruptcy, creditors’ rights, and commercial disputes and workouts. He has more than 30 […]


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Des Moines, IA (Law Firm Newswire) January 9, 2013 – There are not too many things that are exempt when it comes to filing for bankruptcy, but pension plans and 401Ks definitely are. For people filing a Chapter 7 bankruptcy, this basically means this is a “liquidation bankruptcy,” the most common form filed in the U.S. When the bankruptcy is discharged, debtors come out the other side free of all debts. Being discharged is only available for individuals, not businesses, advised Iowa bankruptcy lawyer, Kevin Ahrenholz. When an individual files for Chapter 7, the first thing they do is choose […]


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Des Moines, IA (Law Firm Newswire) January 2, 2013 – Contracts cannot negate bankruptcy protection. It’s a very simple principle, one that has its origins in a U.S. Supreme Court decision in 1938. In Johnson vs. Zerbst, the court defined a “waiver” as the “intentional surrender of a known privilege or right.” A bankruptcy discharge, coupled with the benefits of starting over debt-free, is considered a privilege. Thus, any clause in a contract that attempts to render an obligation invalid in a bankruptcy is attempting to negate bankruptcy protection. However, the bankruptcy code states this is non-enforceable, remarked Kevin Ahrenholz, […]


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Des Moines, IA (Law Firm Newswire) December 17, 2012 – Debtors used to go to prison. This no longer happens, and bankruptcy laws protect the debtor and creditor. Bankruptcy protection has an interesting history, indicated Kevin Ahrenholz, an Iowa bankruptcy attorney. It came about to protect consumers from ruthless creditors in the Old World. Unfortunately, creditors in the 21st century do not seem to be that much different. Nowadays, the bankruptcy laws in place are covered mainly under federal law, but state bankruptcy laws act to supplement the details. In other words, when someone files for bankruptcy, they are filing […]


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Des Moines, IA (Law Firm Newswire) December 3, 2012 – Credit card companies set their own interest rates, because the federal government allows them to do so. Not many know that in 1980, the federal government passed a law that let national banks disregard state usury laws and pick whatever interest rate they wanted, that was a certain number of points above the Federal Reserve discount rate. Usury means lending funds at an exorbitant rate of interest. This means the law in most states cannot regulate credit card debt, leaving bankruptcy as the only way out for many explained Kevin […]


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San Jose, CA (Law Firm Newswire) November 20, 2012 – An elderly San Francisco Bay Area woman is suing Capital One Bank and Patenaude & Felix, APC for wrongful debt collection, harassment and damages. The woman, Mrs. Mary Basich, alleges that the San Diego, California based Patenaude & Felix and Capital One Bank harassed and abused her when they tried to collect on a delinquent Capital One credit card that belonged to another person. Capital One Bank hired attorneys at Patenaude & Felix to collect the debt. The suit alleges that Patenaude & Felix accused her of being Mary Ryals, […]


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Des Moines, IA (Law Firm Newswire) November 15, 2012 – There are cases in which a debtor files bankruptcy more than once. When the economy began to decline and unemployment was on the rise, those who lost their jobs faced difficult financial choices. Many people used their credit cards to pay for bills and other expenses and racked up significant debt. Many of those people are still unemployed. These individuals are candidates for Chapter 7 bankruptcy. Some people find themselves in a position to file Chapter 7 bankruptcy more than once. Iowa bankruptcy lawyer Kevin Ahrenholz explained that a debtor’s […]


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Brandon, FL (Law Firm Newswire) November 12, 2012 – Divorce courts these days are seeing a lot fewer lawyers—and a lot more spouses choosing to represent themselves, a practice known as pro se. However, family attorneys warn that saving money on legal representation might cost people their rightful assets. “I am concerned that anyone getting divorced without legal representation may not be getting a fair deal when it comes to their financial concerns,” said O. Reginald Osenton, a Tampa bankruptcy lawyer. “In many cases, they may not fully understand their rights and remedies.” Bad economic conditions prevailing across much of […]


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Brandon, FL (Law Firm Newswire) November 5, 2012 – Debtors’ prisons have been generally outlawed in the United States since the mid-19th century. Recent reports show that legal distinction becoming blurred. The Constitution of the State of Florida, Section 11, states that “no person shall be imprisoned for debt, except in cases of fraud.” “Debt is a serious legal matter, but rightfully a civil matter, not a criminal one,” commented O. Reginald Osenton, a Brandon bankruptcy attorney. When a creditor takes a debtor to court in Florida, the creditor will likely ask the court to order the debtor to submit […]


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Brandon, FL (Law Firm Newswire) November 1, 2012 – It may sound like an exercise in despair to publicly declare one’s financial situation hopeless, but that is just what some people are doing in an attempt to rid themselves of stifling student loans. “Bankruptcy protection affords many people a measure of relief,” said O. Reginald Osenton, a Brandon bankruptcy attorney. “Student loan debt is usually not forgiven, but for truly desperate situations, there are strategies to consider.” Filing for bankruptcy protection can go a long way toward allowing a fresh start for those who find themselves in dire financial straits, […]


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Des Moines, IA (Law Firm Newswire) November 1, 2012 – Chapter 7 bankruptcy is not always the right solution for a debtor. Most debtors have a long list of questions when they make an appointment with a bankruptcy lawyer. Filing for bankruptcy is a complicated process, and people are concerned about how the decision will affect them and their credit rating. Making the right call to a qualified Iowa bankruptcy attorney will put many debtors’ fears to rest, says Iowa bankruptcy attorney Kevin Ahrenholz. Most debtors who have made the decision to seek bankruptcy protection are aware of the enormous […]


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Los Angeles, CA (Law Firm Newswire) October 31, 2012 – The National Association of Consumer Bankruptcy Attorneys presents its Members-Only Fall Workshop November 1 to 3, and AttorneyBoost.com’s CEO will be present to learn how AttorneyBoost.com can better serve attorneys and consumer’s seeking bankruptcy services. Consumers continue to struggle in a sluggish economy, filing over 1.3 million bankruptcy cases during the last 12 months ending June 30, 2012. The decision to file for bankruptcy protection is often a last-resort, since creditors are aware that even a “fresh start” bankruptcy will affect credit scores and available credit for many years to […]


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Brandon, FL (Law Firm Newswire) October 18, 2012 – Fort Lauderdale Boat Club Ltd., recently filed for Chapter 11; the Boat Club had in excess of a reported $13 million in assets, with an estimated $10 million in liabilities. Investors purchased the site for $16 million in 2006. Losses of some $3 million in just a few years, much of which likely occurred in or about 2008 when the national economy began to collapse, appear to have been too difficult to overcome. Fort Lauderdale is home to numerous coastal areas, including many docks and residential slips for personal watercraft. Plans […]


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San Francisco, CA (Law Firm Newswire) October 18, 2012 – ConsumerBankruptcyCounseling.info, a successful provider of free credit counseling services in English now offers its services in the Spanish language, fully supported by email and a telephone helpline.Recent years have seen growth in the U.S. population and as of the 2010 census recognition of the significant place now held by people with Hispanic roots: 50.5 million strong, over 16% of this nation of 308.7 million. Since the onslaught of the recession in the fall of 2008, consumers have confronted difficult choices as: household incomes have fallen sharply; residential real estate values […]


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