This is Memorial Day and besides all of the expected ways it is celebrated I figured some memorable thoughts of our founding fathers might be appropriate to reflect upon: In 1798 Jefferson wrote: “In questions of power, then, let no more be heard of confidence in man, but bind him down from mischief by the…
The main definition of insolvency is the condition of having more debts (liabilities) than total assets available to pay them, even if the assets were mortgaged or sold. In other words, one’sliabilities exceed the fair market value of one’s assets. For those who are close to being insolvent a critical issue is making transfers of…
Most of us know about the economic bubbles, big and small, that hit the economy every few years during the last two decades. All the “economic experts”, politicians and their media clients inundate us with the rationales for why there was a tech bubble blowup, or housing bubble explosion, commodities bubble burst or oil bubbles…
One of the primary causes of financial strain, insolvency and eventual bankruptcy is the burden of medical debt on families and individuals. There is researched evidence showing this by such notables as Professor Elizabeth Warren (now senator) while she taught law and researched at Harvard. Statistics have the number of filers due to medical indebtedness…
There are a lot of ads and even expensive TV commercials about negotiating your debt. There may be some good companies available who can actually do something for you rather than just fill their coffers with your much needed money (which as a bankruptcy attorney I saw was the usual result my clients’ had experienced,…
When one reaffirms a debt in bankruptcy it in effect takes the debt out of the protection of the bankruptcy laws. The contract is treated as if the bankruptcy did not exist. There are sometimes good reasons to do this and most times not. Your bankruptcy lawyer can help you steer through the murk. Although…
It may seem harsh to say the there is a class war in the US that we battle every day. It is between the rich and the vast majority of people. If you are rich, the system is working well for you. It is set up that way. As the rich control the economy, the…
We have to be very careful with our kids. The TV, the radio, the internet, the commercials, the sinister manipulation done to entice them to want what is not needed. Then to buy, in other words, to get mommy and daddy to buy, producing the seeds of a vicious cycle of desire and reaction, inevitably…
I am an Iowa bankruptcy attorney. Bankruptcy law is the only type of law I practice. I become a lawyer in 1979 and practiced in other legal fields in Pennsylvania and then New York. Of course, there are many valuable areas of law that can help people and businesses, but over time it became abundantly…