March 21, 2011
A new Homestead Act became effective in Massachuestts. To view a my PowerPoint, which explains the update, see my website at:
http://michaelrileylaw.com/realestate.html
Click on the "PowerPoint" icon on the left of the screen!
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
Monday, March 21, 2011
Monday, March 14, 2011
Americans Suffer Before Filing Bankruptcy
According to a study conducted by the Harvard Bankruptcy Data Project, Americans suffer greatly before filing for bankruptcy since BACPA, the Bankruptcy Reform Act. By the time people file for bankruptcy, they have more debt than before the reform.
If you find yourself in a situation where you wonder about options, it is a good idea to consult with a bankruptcy attorney sooner than later. Even if you decide not to file, or to wait to file, you will at least have some information that might ease your burden.
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
If you find yourself in a situation where you wonder about options, it is a good idea to consult with a bankruptcy attorney sooner than later. Even if you decide not to file, or to wait to file, you will at least have some information that might ease your burden.
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
Monday, March 7, 2011
Consumer Bankruptcy Filings Increase in February 2011
According to the American Bankruptcy Institute, consumer bankruptcies witnessed an 11% increase in February of 2011. There were 92,669 filings in January and 111,693 filings in February. Of these, 30% were Chapter 13 filings.
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
Monday, February 21, 2011
2010 Witnesses Increase in Bankruptcy Filings
The American Bankruptcy Institute released figures for 2010 bankruptcy filings, which increased by 8 percent over 2009 figures. Total filings were 1,593,081 for 2010. Since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, known as BAPCPA, became effective, bankruptcy filings have increased each year.
For the full press release, see the ABI website: http://www.abiworld.org/AM/Template.cfm?Section=Home&TEMPLATE=/CM/ContentDisplay.cfm&CONTENTID=63153
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
For the full press release, see the ABI website: http://www.abiworld.org/AM/Template.cfm?Section=Home&TEMPLATE=/CM/ContentDisplay.cfm&CONTENTID=63153
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
Wednesday, February 9, 2011
Even the States Face Financial Woes
When debt and financial obligations overwhelm us, we often feel as if we're quite alone in our predicament. Even if we search the "numbers" and see figures that show thousands of people filing for bankruptcy, we may not know anyone personally who has this situation to face. If someone does file bankruptcy, it is often information they keep to themselves.
In the current economy, states and municipalities face crippling debt and expenses, just like the every day person. Check out the Wall Street Journal article on this topic at the following link:
http://online.wsj.com/article/SB10001424052748704364004576132091316245506.html
So, if you are faced with debt and financial obligations, don't feel so alone. Your town or city might be in the same boat!
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
In the current economy, states and municipalities face crippling debt and expenses, just like the every day person. Check out the Wall Street Journal article on this topic at the following link:
http://online.wsj.com/article/SB10001424052748704364004576132091316245506.html
So, if you are faced with debt and financial obligations, don't feel so alone. Your town or city might be in the same boat!
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
Wednesday, February 2, 2011
Bankruptcy Blast Fact
In Massachusetts, in 2009, there were 20,613 bankruptcy filings. This represents a 6.5% increase over the 2008 figures.
82% of filings were Chapter 7 and 18% were Chapter 13.
(Information based on figures provided by the American Bankruptcy Institute.)
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
82% of filings were Chapter 7 and 18% were Chapter 13.
(Information based on figures provided by the American Bankruptcy Institute.)
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
Friday, January 28, 2011
Credit Counseling and Debtor Education
Many of my clients initially balk at the thought of taking a credit counseling course and debtor education as part of the bankruptcy filing process. They worry it will be a hassle or more of the pat advice you see for saving money as web homepage news article titles. After taking these two courses, many clients write or call to tell me how much they appreciated the classes, how the information was helpful and gave that it gave them hope for their future post-bankruptcy. The information presented will help you move through the bankruptcy process and come out the other side with a better handle on your bills, spending habits and thoughts about managing money and debt.
Most agencies providing these services are open to direct consumer clients as well as those who are working with an attorney. Visit the Department of Justice website below for more information about approved agencies: http://www.justice.gov/ust/eo/bapcpa/ccde/CC_Files/CC_Approved_Agencies_HTML/cc_massachusetts/cc_massachusetts.htm
Remember, if you do plan to file for bankruptcy, speak with an attorney before taking a course like this. There are completion date requirements set by the Bankruptcy Court that must be complied with for the counseling to be valid. In addition, your attorney may have a relationship with an agency he or she trusts so that copies of records that must be filed with the court go directly to his or her firm for prompt filing with the Bankruptcy Trustee.
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
Most agencies providing these services are open to direct consumer clients as well as those who are working with an attorney. Visit the Department of Justice website below for more information about approved agencies: http://www.justice.gov/ust/eo/bapcpa/ccde/CC_Files/CC_Approved_Agencies_HTML/cc_massachusetts/cc_massachusetts.htm
Remember, if you do plan to file for bankruptcy, speak with an attorney before taking a course like this. There are completion date requirements set by the Bankruptcy Court that must be complied with for the counseling to be valid. In addition, your attorney may have a relationship with an agency he or she trusts so that copies of records that must be filed with the court go directly to his or her firm for prompt filing with the Bankruptcy Trustee.
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
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