Comments for Find Bankrupcy Attorney

Comment on Did the General Motors bailout violate any bankruptcy laws like the Chrysler bailout? by goz1111

goz1111 — Thu, 03 Jun 2010 01:12:08 +0000

As the old saying goes those of might make the laws, once the courts cleared the way for a surgical BK of Chrysler i.e. a test case; it cleared the way for GM, it should be noted the sole reason for the successes lies in the fact the federal government backed the new entity buying the good assets at a one time FMV, in majority of BK cases a single third party entity would not be in the position as our federal government to make one time purchase of such a large proton of the infrastructure at FMV

Comment on why not abolish bankruptcy laws and bring back debtor jail? by AmericanJake

AmericanJake — Tue, 01 Jun 2010 22:59:48 +0000

I would have to agree with you. If you cannot afford it then DON’T buy it. Everybody can’t be a homeowner, not everybody can buy a brand new car, not everybody can take dream vacations, yet if you want too all you have to do is take a huge *** loan out and file bankruptcy down the road. Absolutely ridiculous.

Comment on Did the General Motors bailout violate any bankruptcy laws like the Chrysler bailout? by Planet

Planet — Tue, 01 Jun 2010 12:32:46 +0000

No, and neither did Chrysler. The UAW was one of the creditors/bondholders so it was perfectly legal for them to get stock in the exchange right along with the others creditors. GM owed the UAW a LOT of money for VERA that they rammed down the throats of the union member several years before the banking crisis caused all their recent problems.

Comment on why not abolish bankruptcy laws and bring back debtor jail? by 'Taker

'Taker — Sun, 30 May 2010 23:22:29 +0000

Yeah. Just like what Pelosi and Barry have in their dream healthcare bill: Buy insurance or go to jail!

Comment on I know the laws about filing for bankruptcy vary from state to state but what are the basic rules? by Msean

Msean — Sat, 29 May 2010 06:34:14 +0000

At the behest of the credit card industry the law was changed about seven years ago, in order to make it harder for people to write off credit card debt.

You would be well advised to talk to a lawyer before you do anything. Many will give a free consultation which would allow you to ask many of your questions and get informed advice.

Comment on Why didn’t the Obama Adm. let our bankruptcy laws work as they should? by raypay2003

raypay2003 — Tue, 25 May 2010 14:39:50 +0000

Have to pay back big money and the unions.

Comment on Why didn’t the Obama Adm. let our bankruptcy laws work as they should? by Steve M

Steve M — Sun, 23 May 2010 18:16:15 +0000

One word. CONTROL.

The same as with health care, they want to control the American people.

They ALL need to be replaced.

Comment on DO you agree with the recent changes in bankruptcy laws? by Sapphyre

Sapphyre — Sun, 23 May 2010 06:16:21 +0000

A chapter 13 is not a fresh start, yes you have to make monthly payments that the trustee takes out. and of course the lawyer you hired gets his cut first and then the trustee gets his and on down the line. But with a chapter 13 makes sure that you bearly have any money to live on

Each month you have to still pay for your living expenses and try living on $150.00 every 2 weeks when over $50 of it goes to put gas in your car so you can get to work, then the other $100 has to go toward food to feed your family, medications you need to pay for. It is the most stressful thing that anyone can go though.

Chapter 13 is a punishment to those who were in over their heads in debt. And for the next 8 years you go with out a lot of food, there is no entertainment, you can forget buying any new clothes…and god forbid if any family member gets sick becasue where is the money going to come from to pay for meds and any other medical supplies you may need. You end up not going to the doctor when you need to. You only eat once a day so you can make your food strech longer.

If you at one time was living good, making good money and not worrying about how you are going to cover your bills. then one day you lose your job, your world tumbles around you and the only way out is with a bankrutcy, it didnt make your life better, it didnt take away all your debts and you just added 8 years of hell to your life as you struggle to make ends met. No wonder 60% of people who had to file for a Chapter 13 fail and default, they just cant make it.

Do I sound bitter about Chapter 13? Yes I am, and I have 8 more years left…..

Comment on Why didn’t the Obama Adm. let our bankruptcy laws work as they should? by Quirk

Quirk — Sat, 22 May 2010 20:09:25 +0000

Er…the bank bailout “Emergency Economic Stabilization Act of 2008″ (which created TARP) was pushed for and signed into law by Bush. Just for future reference.

As for GM, the idea was that if it were allowed to fail and ended up being completely dissolved (as it likely would have) the resulting waves of destruction would ripple across all sectors of our economy – which was already teetering on the edge of a depression.

Yes, all the bailouts may cost us dearly down the road. But the important thing is that both Bush and Obama bought us some time. Hopefully we can figure out a way to patch this thing back together. If not…well, we only delayed the inevitable.

Comment on If I file Chapter 13 bankruptcy, how will this affect the co-signer of my car? by Net Advisor

Net Advisor — Fri, 21 May 2010 14:53:15 +0000

Well, first off all clearly this all needs to be discussed with your lawyer. No one here is going to give you a legal answer that you can or should rely entirely on.

I am not a lawyer (disclaimer).

In general you can still make payments on the car (reaffirmation agreement) and have it survive the BK filing.The lender must agree to this. The court must approve it.

If the lender does not agree, they can force the co-signer to pay off the loan balance less what the car is sold for. I have no clue what the lender might want to do. Thus is where the lawyer comes in.

Good Luck!

Chapter 13