Podis & Podis

The National Mortgage Settlement for Tennessee

CPodis — Sat, 11 Feb 2012 13:56:51 +0000

The following link takes you to the Attorney General of Tennessee’s website for information on Tennessee’s participation in the National Mortgage Settlement. http://www.tn.gov/attorneygeneral/cpro/mortgageservicing.html It is important to act quickly to preserve your rights under the settlement. I am happy there may some hope for refinance options for clients who have been denied loan modifications by some of the mortgage companies. The settlement is subject to court approval. The contact numbers for the mortgage companies involved are: [captioBank of America: 877-488-7814
•J.P. Morgan Chase: 866-372-6901
•Citi: 866-272-4749
•GMAC/Ally Financial: 800-766-4622
•Wells Fargo: 800-288-3212
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Debt Collectors and Bankruptcy

CPodis — Wed, 01 Feb 2012 17:39:56 +0000

Bankruptcy stops debt collectors from harassing you at work and home. The Automatic Stay provisions of the Bankruptcy Code – found at 11 U.S.C 362 – give a bankruptcy filer an opportunity to re-organize debts without creditor contact. A creditor must file a motion to lift the automatic stay in a Chapter 13, unless that relief is given in the Confirmation Order. In a Chapter 7, the automatic stay is in place for 45 days. Then it is lifted automatically. Some creditors file a motion to lift the stay sooner than the 45 days. In some cases creditors can repossess collateral without lifting the stay where the collateral is in danger — ex. your car insurance lapses and the creditor requests new insurance and none is provided within a three day period, then the creditor can pick up the car.

What is due diligence in bankruptcy?

CPodis — Sun, 22 Jan 2012 00:17:43 +0000

When filing a bankruptcy petition, your bankruptcy attorney should do their due diligence. To me due diligence means looking at public records to ensure we are protecting our clients assets and listing all of their debts. At our office that means pulling a credit report to make sure you list all debt that reports to the credit bureaus. We ask clients for a list of creditors too. Why? Because not all creditors report to the credit bureaus. Further, we check public records for liens – judgment liens, tax liens and homeowner liens. We ask our clients all questions on the bankruptcy petition to ensure we are adequately protecting their assets. When all assets cannot be protected in a Chapter 7, we give our clients realistic expectations of what can happen. It is important for clients to make informed decisions on whether to file a Chapter 7 or a Chapter 13.

Welcome to 2012 and new Bankruptcy requirements!

CPodis — Sun, 01 Jan 2012 00:16:59 +0000

Please remember if you are filing for bankruptcy in 2012, you are required to provide a copy of your 2011 tax return at least 10 days before your Meeting of Creditors (your court date). We know, the IRS does not require filing of the return until April 2012. This is a requirement of the Bankruptcy Code. Your case will be slowed down or worse, can be dismissed for failure to provide a copy of the return.

It is important to disclose all property owned — land — and personal property — such as cars, boats, jet skis etc.,. The creditors are becoming much more active in trying to push debtors into Chapter 13 repayment plans or at least into asset Chapter 7 cases. Be certain you let your attorney know of transfers of assets, especially if they were made to family members or business associates.

Bankruptcy Attorneys - Mark and Cynthia Podis

The best compliment a lawyer can get from a client!

CPodis — Fri, 09 Dec 2011 14:21:14 +0000

My wife and I were having lunch at the Dairy King, around the corner from our office and a gentleman walked up and asked “Are you Mark Podis?” I replied “Yes, I am.” He then reminded me I had helped him with a bankruptcy 10 years ago and thanked me. He said he had gotten things back on track financially. I am touched that he remembered me. I am also so grateful that his bankruptcy was able to help him get relief from his debt and give him a fresh financial start. What a nice lunch!

Mark and Cindy Podis - Nashville Bankruptcy Lawyers

What is the problem with post-petition payments on attorneys fees in Bankruptcy?

CPodis — Sun, 09 Oct 2011 19:22:09 +0000

The Bankruptcy Code has been interpreted (by most jurisdictions) to not allow post-petition fees for pre-petition services. Some lawyers are attempting to split the attorney fee into pre-petition services and post-petition services. At Podis and Podis we do not feel it is fair to our client to file a case and then, not attend the court date for them if they do not pay us additional fees. It is like buying a car and being told the motor is extra. It is our duty to follow the Bankruptcy Code and the laws as they are interpreted by the courts. If we do not collect the fee from you before filing, we are precluded from asking you for it afterwards.

Some lawyers will have you sign a pre-petition fee agreement and a post-petition fee agreement before they file your case. I so not understand how you can sign a post-petition agreement before your petition is filed.

Saving my 401k while in bankruptcy

CPodis — Sun, 25 Sep 2011 02:36:18 +0000

I am always saddened to see clients have cashed in their 401k before filing bankruptcy in an effort to stay out of bankruptcy. When they finally end up in our office, they realize they could have protected their retirement savings. Your 401k is protected when filing bankruptcy. You cannot make large deposits to a 401k or IRA to hide assets. However, if you have built up a 401k or protected retirement plan over many years, it is protected when filing bankruptcy.

Bankruptcy lawyer - Nashville

Chapter 13 Bankruptcy Nashville

CPodis — Fri, 23 Sep 2011 18:45:04 +0000

I keep reminding clients the Chapter 13 Trustee is adversarial to them. The Trustee’s job is to obtain the highest percentage repayment to the unsecured creditors. Why then, do clients insist on asking questions on the record and making statements against interest? I think because the Meetings of Creditors are conducted in a somewhat casual atmosphere, people let their guard down. Remember, bankruptcy fraud is a crime. You have the right to remain silent. Talk to your lawyer if you have questions – do so outside the presence of the Trustee.
www.PodisBankruptcy.com

Bankruptcy Lawyers Nashville - Mark and Cynthia Podis

Bankruptcy Chapter 7 and Chapter 13 – beware of the undisclosed asset or transfer!

CPodis — Fri, 23 Sep 2011 00:52:38 +0000

The Chapter 13 Trustee has informed us that a creditor group is pulling public records of asssets, asset transfers and credit card records (for those participating) and sending a report of assets and transfers to Trustees – both Chapter 7 and Chapter 13 trustees — free of charge. This is in an effort to cause a loss of discharge for failure to disclose assets or transfers. Alternatively, they hope to force debtors to Chapter 13 repayment plans. It is more important than ever to disclose assets and transfers! www.PodisBankruptcy.com

Cynthia Podis - Bankruptcy Lawyer Nashville

Looking for Bankruptcy Lawyers in Nashville?

CPodis — Thu, 22 Sep 2011 01:19:10 +0000

When looking for Bankruptcy Lawyers in Nashville and the surrounding area, be sure to ask questions. Some examples of what you need to know –

How long have you been in practice?

How many cases have you filed?
What are problems that can come up with my case?

What assets can I protect?

What assets can I not protect?

Why do I have to list all of my debts?

: Cynthia Podis – Bankruptcy Lawyer Nashville TN