Lexington Law Blog

Saving Your House: Mortgage Business Loans

I speak with many small business owners who have weathered tough financial struggles in their businesses and need some sort of relief. Inevitably, at least one business loan has insisted on a second mortgage against their house. This becomes problematic if the business person is forced into bankruptcy as a last resort and also wants to keep his or her residence. There are two possible sources of relief, only one of which do I address in this post and I am not going to touch on a Chapter 11 at all because that is nearly always to expensive for a small ...
Read More

Next Gen. Mediation

Better, more effective mediation exists.  Don't get me wrong, traditional mediation is wonderful. My clients usually experience good results from the mediation structue practiced in this region. That model, in essence, has the two parties agreeing on a mediator, a place and a time to come together and work through as many points of disagreement as possible in one session. Usually, the mediation is from a few hours to all day, though mediations occasionally can be multi-day events. But, I am convinced that is not the best model. You see, when people come in for that single day, they have ...
Read More

My "best kept secret" practice

Most of my colleagues know that I find a tremendous overlap between practicing bankruptcy and practicing family law. One of the top reasons, if not the very top reason, for people filing bankruptcy is a divorce. However, I also have another practice area that fits well with both of these other practices and that is Family Law Mediation. I encourage you to please check out my other blog here at Bluegrass Conflict Resolution. Not only am I a trained mediator in this area, but my former career was focused on counseling and helping heal relationships. So, it is a natural ...
Read More

Affordable Mediation

I apologize for the redundancy, but I realized my last post that addressed the issue of affordable medation was quite long and so some may not have gotten to the important part. So far as I know, I am the only family law mediator in this area who offers income based mediation fees with a highest fee rate that is no higher than the least expensive mediator I know (he also happens to be one of the best!).  I plan to do this for as long as possible. I am doing this to make mediaiton more accessible and because I love ...
Read More

I'll be teaching a session at Collection Law: Start to Finish

Just wanted my colleagues to know that I will be representing debtors' attorneys at a NBI seminar entitled Collection Law: Start to Finish. I hope to give creditors' attorneys some insight into what we look at in assessing a bankruptcy in the intake process.
Read More

What your bank CAN and CANNOT do when you file bankruptcy

I make it a habit to advise clients to move their bank accounts prior to filing a Chapter 7 or Chapter 13 if they also owe a debt to their current institution. This is especially true if they bank with a credit unition. The reason is that there are some actions the bank or credit union can take that will make a debtor's life difficult. These are legal restrictions of services and NOT a vioaltionof the automatic stay that a bankruptcy provides. The In re Spearman (W.D. Ky 2017) makes this very clear. A bank or credit union likely will ...
Read More

How Mediation can be like MMA

I know, you thought I was talking about Mixed Martial Arts. And, truth be told, I have seen some mediations that wanted to go the route of verbal MMA. But, even that can be turned to a productive session. Actually, I was referring to Making Mediation Affordable. Mediation can be expensive. There are mediators out there that charge a few hundred dollars an hour for their services. Add to that having an attorney attend the mediation with you and then one is looking at several hundred dollars an hour (I usually reduced my attorney rate by half, though, to make ...
Read More

Tax Time!

Are you dreading writing a significantly sized checks to the state and Federal governments soon? Or, perhaps you a excited about the refund you are getting and what you plan to do with it. Either way, here are a couple brief bullet points of things to be aware of if you are also facing a potential bankruptcy: Avoid the temptation to NOT file your return. It really just delays the inevitable and there are some time limits that do not start to run until you have filed. If you may need to get a discharge on tax debt in a ...
Read More
Troutman & Napier, PLLC