The Trustee’s Power – Part 2

The Trustee’s Power – Part 2

The Trustee’s Power to Sell the Debtor’s House when Fully Encumbered by Perfected Liens (Part Two) By: John Lee In Reeves v. Callaway the Fourth Circuit Court of Appeals ruled that a Trustee can sell the debtor’s real property even though it is fully...
The Trustee’s Power – Part 1

The Trustee’s Power – Part 1

The Trustee’s Power to Avoid a Mortgage Lien and Sell the Debtor’s House (Part One) By John Lee The next three blogs will be on discussing the Trustee’s power to sell a debtor’s home and the use of exemption law to protect the home....
Is My Inherited IRA Safe in Bankruptcy?

Is My Inherited IRA Safe in Bankruptcy?

By John W. Lee, P.C. An IRA (Individual Retirement Accounts) that has been inherited is not exempt property in Bankruptcy. The United States Supreme court decided on June 12, 2014, in a rare unanimous decision that inherited IRA funds are not exempt in bankruptcy. The...
The Rent to Own Debacle

The Rent to Own Debacle

By John W. Lee Today’s words of wisdom…Never buy a computer or furniture on credit, and avoid rent to own stores. The vast majority of bankruptcy clients I see have at some point purchased either a computer or furniture on credit. Another purchase that is...
What is Financial Security?

What is Financial Security?

By John W. Lee, P.C. Did you know that being able to pay your bills on time and afford your necessities does not make for financial security? Unfortunately, you are not financially secure if you don’t have enough money to fix your car when it breaks down. Paying off...