Author Archives: Michael J. Berger
Medical Bills, Job Loss Among Top Reason for Bankruptcy in US
Approximately 1.7 million people will file for bankruptcy protection this year, and about 56 million adults will struggle with health care-related bills in 2014. There has been a significant increase in Americans being unable to pay off their debts over the past 20 years — and Congress has responded by making it more difficult to […]
Columnist: Congress Needs to Change Student Loan Bankruptcy Rules
Seven out of 10 college seniors graduated with student debt in 2012. From 2008 to 2012, debt at the time of graduation increased an average of six percent each year. In California, college graduates have an average of more than $20,000 of student debt. Although there has been an overall increase in student debt, there […]
What is the Role of Automatic Stay in Bankruptcy?
When filing for bankruptcy protection, a concept called an automatic stay protects a debtor from creditors and puts a halt to any lawsuits filed against that person. In additions, it also protects debtors from actions against their property from a creditor or collection agency. The automatic stay can be a major benefit when filing for […]
In Bankruptcy, GT Advanced Attempts to Expose Apple’s Disclosure Requirements
GT Advanced Technologies, the company that was to supply Apple with scratch-resistant sapphire, is attempting to expose some of the details of its Chapter 11 bankruptcy filing. Originally, the company wanted to seal certain documents or file them in redacted forms. The information GT Advanced now seeks to release would allegedly describe the partnership with […]
USBC Judge Albert sent a strong message to SH&B LLP completely denying their $211K Fee Application + making them disgorge $58K
Below is an article published today in the Daily Journal regarding a case in which I successfully opposed a $211,889.50 fee application from Debtor’s prior bankruptcy counsel, Schulman Hodges & Bastian, as well as my client’s five star review of my services: OCTOBER 24, 2014 | BANKRUPTCY Judge slaps Shulman Hodges with fee denial, […]
When Should You Declare Bankruptcy?
In this tough economy being in debt is an accepted norm. Credit card companies entice American households with irresistible offers to extend credit or loans. While these offers may seem good, accepting more credit and going further into debt may lead you into debt overload. You may have difficulty determining when you’ve gone over the […]
Bankruptcy Process: Can a Creditor Prevent a Discharge?
There are a number of reasons that lead people to filing for personal bankruptcy. Among the top causes are accumulated debts from: medical expenses, loss of employment, separation or divorce, excessive use of credit and unexpected expenses. All of these situations can quickly spin out of control and leave you with little or no resources […]
Can I Choose Between Federal and State Bankruptcy Exemptions in California?
Your state of residence determines the exemption options available when you file for bankruptcy. California residents cannot use federal exemptions. However, they still have a choice, because there are two systems for taking bankruptcy exemptions in California. As explained by the California Courts, the state provides debtors with the following exemption options: Section 704. Filers […]
Preparing for Life After Bankruptcy
Filing for bankruptcy is not the end of the world — nor is it the end of your financial vitality. Although your credit report may have been damaged and you’ll temporarily have a tough time getting a loan or credit card, there can also be benefits of going through bankruptcy. It can be a starting […]
Discharge Student Loan Debt in an Adversary Proceeding
Many students enter into college or university without truly understanding the cost of higher education. Typically, students sign for student loans to fray the cost of tuition, books and living expenses not to be thought about again until after graduation. Borrowers can rack up over $300,000 in loans before realizing that they may never earn […]
