By now, many have heard the news that well-known former baseball player Jose Canseco recently filed for bankruptcy, mainly to deal with back taxes. What many have not seen, however, is the screed he

Chapter 13 bankruptcy may present a platform to obtain modification of first mortgages under the U.S. Treasury Department's "Home Affordable Modification Program" (HAMP).

As most people are aware, Congress did not yet pass the "cram-down" provision for principal residential mortgages. Despite this, the legal landscape does seem to indicate that the HAMP program will be of substantial assistance to homeowners - perhaps in many instances - more than the much sought after "cram-down".

Where may a business file bankruptcy? The president of a small family business based in Georgia called me to ask whether his business could file a Chapter 11 bankruptcy in Florida. The business was a Georgia corporation with offices in...

Natalie Hawkins, mother of 15 year old Olympic gold gymnast Gabby Douglas filed Chapter 13 bankruptcy earlier this year in part due to expenses related to her daughter’s training.  The good new is that Gabby just signed a three million dollar endorsement deal with Kellogs and vows that the first thing she is going to do is help her mom out financially.  Way to go Gabby.

Soda Tax?

Last weekend I watched the movie Larry Crowne, starring Tom Hanks and Julia Roberts.  In the movie, Tom Hanks plays a character that had recently been terminated for his job due to his lack of formal education, so he decided to go back to community college to remedy the situation.  He took an economics class there with an eccentric professor.  One day, the two of them were outside the school having a discussion on whether there were any economic benefits to filing for bankruptcy, I believe with Tom Hanks arguing that there were not and the professor arguing that there were.  Granted, this w

IRA, individual retirement accounts, are they protected in bankruptcy? I am willing to bet you expected the answer to be yes, individual retirement accounts are protected in bankruptcy. Most bankruptcy lawyers would automatically say yes, IRA accounts are protected in bankruptcy.