Bankruptcy often carries a stigma tied to cultural perceptions of the American Dream, where financial success is equated with personal worth. This episode of Bankruptcy Through the Looking Glass, featuring attorney Barry Levine, explores how bankruptcy affects typical debtors, challenges societal notions of failure, and provides a fresh start for financial recovery, offering actionable strategies for redefining success. How do…Read More

Medical debt remains a significant driver of bankruptcy, creating substantial financial and emotional challenges for individuals. This episode of Bankruptcy Through the Looking Glass, featuring attorney Barry Levine, explores the prevalence of medical debt, its dischargeability in bankruptcy, and practical strategies for managing ongoing treatments and aggressive collectors, offering actionable guidance for achieving financial stability. How common is medical debt…Read More

Navigating bankruptcy in the digital age presents unique privacy challenges due to public court records and advanced surveillance technologies. This episode of Bankruptcy Through the Looking Glass, featuring attorney Barry Levine, explores the implications of public filings, the risks of AI-driven debt collection, and the management of digital assets like cryptocurrencies and NFTs, providing actionable strategies to protect personal information…Read More

Financial distress often takes a significant toll on mental health, intensifying anxiety and depression for those facing overwhelming debt. This episode of Bankruptcy Through the Looking Glass, featuring attorney Barry Levine, explores how bankruptcy serves as a tool to alleviate emotional burdens, debunks myths contributing to stigma, and offers practical strategies for debtors to regain peace of mind through informed…Read More

Bankruptcy law remains a vital tool for individuals and businesses seeking financial relief amidst evolving economic and technological landscapes. This episode of Bankruptcy Through the Looking Glass, featuring attorney Barry Levine, explores key trends in bankruptcy filings, including legislative changes, the impact of digital financial products, and the lingering effects of COVID-19, providing actionable strategies for debtors to protect assets…Read More

What immediate steps can someone take to start rebuilding credit after bankruptcy? The process depends largely on existing debt that survives bankruptcy. Continuing to make timely payments on retained assets like cars or homes can help establish positive credit entries. However, it's important to note that unless debts are officially reaffirmed during bankruptcy, even consistent payments may not appear on…Read More

What are the early warning signs that a business should consider bankruptcy? When businesses find themselves on COD (Cash on Delivery) terms with suppliers, requiring immediate payment plus additional fees, it's a significant red flag. Another critical indicator is falling behind on trust fund taxes, including meals, sales, and withholding taxes. While these funds are meant to be held in…Read More

Zombie debt refers to old debts that individuals may have forgotten or neglected over time. This often occurs when a creditor has previously taken legal action, such as suing the debtor years ago, resulting in a judgment. For instance, in Massachusetts, a judgment remains valid for 20 years. Creditors may sell these judgments to debt buyers, who then attempt to…Read More

The Challenges of Dealing with Clients One of the biggest challenges attorneys face: clients who think they already know the law. With access to Google and second-hand advice from friends, many people come to believe they fully understand bankruptcy. While this sometimes saves time, it often complicates the process. One major issue is document submission. Despite the availability of software…Read More

Bitcoin as an Asset in Bankruptcy From a legal perspective, Bitcoin is treated similarly to other assets during bankruptcy. A debtor must list their Bitcoin holdings, including the quantity and current value, on their bankruptcy schedules. The ability to exempt Bitcoin from the bankruptcy estate varies by jurisdiction, and whether the trustee can ultimately access the Bitcoin depends on various…Read More