Put Student Loan Debt Back Where It Belongs: In Bankruptcy

By Leon D. Bayer, Bayer, Wishman & Leotta (Los Angeles, CA)

Once upon a time there was no student loan crisis. Back then we had a simple test for giving student loan debt relief to borrowers who claim they can’t pay. If the requirements were met, student loans were discharged in bankruptcy. Borrowers who . . . → Read More: Put Student Loan Debt Back Where It Belongs: In Bankruptcy

A Penny For Your Thoughts? If Not, Then How About Fifty Cent?

By Leon D. Bayer, Bayer, Wishman & Leotta (Los Angeles, CA)

The famous rap artist Fifty Cent is the debtor in a Chapter 11 bankruptcy case. Somewhat counter intuitively for any debtor to do, Mr. Cent has been using social media to demonstrate his financial well-being.

Lawyers routinely instruct their clients to keep . . . → Read More: A Penny For Your Thoughts? If Not, Then How About Fifty Cent?

11 U.S.C. § 108 All Tolled: Is A Good Fight A Fair Fight?

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Argentina is Not Dancing With the Stars, and Other Tales of Insolvency

By Leon Bayer

Quick story: One fine day in the early 1980′s I was in the Los Angeles courtroom of the Hon. Barry Russell, U.S. Bankruptcy Judge. (Judge Russell is the most senior bankruptcy judge in the U.S. still actively serving.) It was Chapter 13 confirmation day. Elsie Davis, the legendary Chapter 13 trustee . . . → Read More: Argentina is Not Dancing With the Stars, and Other Tales of Insolvency

A Bankruptcy Case in Old England, and a Meeting of Creditors Held in a Tavern

February 12, 1771, London, England. Hear ye…hear ye…

At the Turks head tavern Gerrard Street Soho February 12th.1771.

WHEREAS an advertisement was Inserted in the London Gazette on Tuesday the fifth day of this instant February desiring the Creditors who have proved their debts under a Commission of Bankruptcy awarded and forced William Weston late of the . . . → Read More: A Bankruptcy Case in Old England, and a Meeting of Creditors Held in a Tavern

Mark Twain Has Filed Bankruptcy!

By Leon D. Bayer, Certified Specialist in Bankruptcy with Bayer, Wishman and Leotta in Los Angeles, CA

We beg to inform you that Mark Twain has filed bankruptcy!

Why this? Being a Los Angeles bankruptcy lawyer, my clients often tell me how ashamed they feel. One of the things I can tell them is they are not alone. . . . → Read More: Mark Twain Has Filed Bankruptcy!