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Every year you spend struggling with debt is one year closer to risking a poverty level existence in your golden years. Time is our one limited asset. We can’t make more of it and once it is passed, it is gone. If for no other reason, if you are in debt, you must seriously consider [...]
Continue Reading →If you have been listening to or reading financial news lately, then you have probably come across the term ‘Quantitative Easing.’ The Federal Reserve announced on November 3 a second round of Quantitative Easing which is referred to as QE2. What is QE? In common sense terms QE entails the Federal Reserve creating money (in [...]
Continue Reading →http://abcnews.go.com/Business/wireStory?id=12045102
Metro-Goldwyn Mayer Studios, producer of classics such as the Wizard of Oz and Gone With the Wind, filed for Chapter 11 Bankruptcy on Wednesday. In this particular case the majority of MGM’s lenders will swap their debt for shares of MGM and essentially take ownership. This action will significantly reduce MGM’s debt [...]
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Have you ever regretted recommending bankruptcy to a client?
Answer:
What an interesting and reflective question. The answer is no; no regrets. Despite all the myths surrounding bankruptcy, bankruptcy is one of a very few areas of law in which a client consistently emerges from our representation better off than when she started. You [...]
Continue Reading →CHICAGO (CBS) – Bankruptcy filings are soaring in the Chicago area and more people are looking for legal help from low-cost law firms. CBS 2 Investigator Pam Zekman checked out [...]
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Are any of your attorneys graduates from the Max Gardner bankruptcy boot camp?
Answer:
The attorneys at Methner & Associates are all members of some of the same organizations as Max, such as NACBA (National Association of Consumer Bankruptcy Attorneys); participated in hours of continuing legal education in bankruptcy; attended NACBA events where Max [...]
Continue Reading →The idea of debt forgiveness goes back thousands of years. The Old Testament provides that lenders shall forgive debt every 7 years; Deuteronomy15, 1-11. The interesting thing to note about that passage is that the text places the moral duty on the lender. It was part of a lender’s moral or ethical code [...]
Continue Reading →Just a quick note, American Bankruptcy Institute reported that consumer bankruptcy filings are up 11% over the first 9 months of this year.
Consumers and small business are continuing to struggle with financial difficulties. A common story in my office is of people being out of work for 12-18 months, no way to make mortgage [...]
Continue Reading →I am often asked to explain attorney’s fees and the costs associated with bankruptcy; one way to view bankruptcy is as an investment and look at the Return on Investment (ROI). For example, for an investment of $2,700 in attorney fees in bankruptcy to discharge $50,000 in debt, the ROI is 1,752% in as little [...]
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Debt is Slavery!
Debt is a voluntary form of slavery. Okay, I know, that sounds like a bold, rather kook’ish statement, but bare with me. Aside from committing a criminal act, being in debt gives others the most power over you, the most power to limit your time and money. In that sense, debt seriously limits your freedom. [...]
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