Blogs

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

Bankruptcy and divorce are two complex legal matters that often intersect. While a divorce proceeding primarily deals with the division of assets and liabilities, a bankruptcy filing can significantly impact how those debts are handled. It is important to understand how filing for bankruptcy before, during, or after a divorce can affect financial obligations and the division of debt. How…Read More

In both Chapter 7 and Chapter 13 bankruptcy filings, creditors play a minimal role in the process. Although the court requires that notices and pleadings be sent to all creditors, these documents are often ignored. In Chapter 7 cases, the notices typically inform creditors that the case is assetless, meaning there is nothing to distribute. It is rare for creditors…Read More

Becoming "judgment proof" means that you have no assets that a creditor can claim to satisfy a judgment. For many individuals filing for bankruptcy, this status occurs naturally when their assets fall below the exemption limits allowed in bankruptcy proceedings. However, for those with substantial assets, planning ahead to protect them from potential creditors is essential. The Right Way to…Read More

One common misconception about wage garnishment is that it is only stopped by negotiating with creditors. However, the most effective way to halt a wage garnishment is by filing for bankruptcy. The automatic stay that comes with filing bankruptcy immediately stops the garnishment. While certain amounts of income are exempt from garnishment, the ultimate solution is often bankruptcy, particularly when…Read More

How Common is Tax Debt Today? Tax debt has become a prevalent issue for many individuals today, especially in the current economic climate. Barry notes that it's not uncommon for people to have not filed tax returns for years, which complicates their financial situation. Generally, taxes may be discharged in bankruptcy after a certain period, but when returns aren’t filed,…Read More

When homeowners first realize they might be facing foreclosure, the situation often begins subtly. It starts with missing one or two payments, which snowballs as banks typically won't accept partial payments. Eventually, the arrears pile up, and before you know it, you might find yourself several payments behind. The foreclosure process itself doesn’t happen overnight. There are numerous notices every…Read More

Boston, MA – The Law Office of Barry R. Levine, a longstanding advocate for individuals and small businesses facing financial turmoil, has built a reputation for empathetic, comprehensive bankruptcy support during uncertain economic times. With more than 44 years of experience, Attorney Barry R. Levine, Esq., has dedicated his career to guiding clients through the often complex and emotionally charged…Read More