Bankruptcy Through The Looking Glass

Bankruptcy and Divorce: How Debt Division Gets Impacted

Episode Summary
In this episode of Bankruptcy Through the Looking Glass, host Katie Roberts sits down with Barry Levine to explore how bankruptcy and divorce intersect. They discuss how filing for bankruptcy before or during a divorce affects debt division, what happens when one spouse files while the other does not, and common misconceptions couples have about shared debt. Barry also shares some fascinating real-life cases, practical advice for navigating bankruptcy in a divorce, and a bit of Yiddish wisdom along the way.
Timestamps
00:00 – Welcome to Bankruptcy Through the Looking Glass00:05 – Introduction: Divorce and debt division00:45 – How bankruptcy impacts asset and debt division in a divorce02:14 – What happens when one spouse files for bankruptcy but the other does not?05:22 – A real-life case of financial downfall and dueling Chapter 13 filings07:33 – Working with divorce attorneys during bankruptcy cases10:14 – Can bankruptcy reduce or eliminate debt after divorce?12:30 – Special considerations for high-asset couples filing for bankruptcy13:01 – Common misconceptions about bankruptcy and divorce14:12 – Barry’s Yiddish lesson: Learning "dreck" and "schmutz"15:32 – Closing thoughts and how to connect with Barry Levine
About the Show
Bankruptcy Through the Looking Glass offers expert insights into bankruptcy law with a mix of real-life stories, legal expertise, and engaging discussions. Hosted by Katie Roberts and featuring experienced attorney Barry Levine, the show helps listeners navigate the complexities of financial distress with clarity and a touch of humor.

The Truth About Creditors In a Bankruptcy

Episode Summary
In this episode of Through the Looking Glass with Barry Levine, host Katie Roberts and bankruptcy attorney Barry Levine pull back the curtain on how creditors operate in Chapter 7 and Chapter 13 bankruptcy cases. Barry shares unfiltered insights into why creditors rarely interfere in bankruptcy proceedings, how debt collection tactics change pre- and post-filing, and the reality of debt-buying as a gamble. He also discusses creditor monitoring, asset cases, and the factors influencing creditor objections. This candid conversation sheds light on the myths and realities of debt, bankruptcy, and financial survival.
Timestamps
00:00 – Welcome to Bankruptcy Through the Looking Glass with Barry Levine00:05 – Introduction with Katie Roberts and Barry Levine00:23 – How involved are creditors in Chapter 7 and Chapter 13 bankruptcies?00:34 – Why creditors rarely show up in bankruptcy cases04:06 – The business of debt-buying and collection tactics05:12 – Do creditors monitor bankruptcy cases?06:26 – Can creditors challenge a bankruptcy filing?08:12 – The long game of minimum payments and debt persistence10:39 – What happens when creditors don’t file a claim?11:53 – How creditors decide whether to challenge a bankruptcy14:53 – Are most bankruptcy cases involving big financial institutions or small businesses?16:24 – Closing thoughts and where to connect with Barry Levine
About the Show
Through the Looking Glass with Barry Levine offers a no-nonsense perspective on bankruptcy law, debt relief, and financial strategies. Hosted by Katie Roberts and featuring veteran bankruptcy attorney Barry Levine, the show breaks down complex legal concepts with real-world examples and sharp insights. Whether you're facing financial challenges, considering bankruptcy, or just curious about how the system works, this podcast delivers valuable knowledge with a dose of humor and candor.

The Power of Protection: Becoming Judgment Proof Before It’s Too Late

Episode Summary
In this episode of Bankruptcy Through the Looking Glass, host Katie Roberts sits down with Barry Levine to discuss the concept of becoming judgment proof—what it means, why it's important, and how individuals can legally protect their assets before financial trouble arises. Barry explains the nuances of fraudulent conveyances, pre-bankruptcy planning, and how exemptions play a role in financial protection. With real-world examples and strategic insights, this episode is a must-listen for anyone looking to safeguard their assets from creditors.
Timestamps
00:00 – Welcome to Bankruptcy Through the Looking Glass with Barry Levine00:05 – Introduction to today's topic: Becoming Judgment Proof00:36 – What does "judgment proof" mean?01:39 – Legal ways to protect assets before creditors take action02:36 – The importance of early planning and avoiding fraudulent transfers03:59 – Steps to becoming judgment proof and securing assets05:25 – Family as creditors: How to structure financial protection07:02 – Protected assets and state-specific exemptions08:49 – Massachusetts homestead exemptions and their impact10:07 – The role of creditors in assessing assets and liabilities11:38 – Common mistakes people make when trying to protect assets13:25 – The role of exemptions in financial protection15:31 – When to consult a bankruptcy attorney for asset protection16:04 – Closing thoughts: Plan ahead to withstand financial difficulties
About the Show
Bankruptcy Through the Looking Glass is a podcast dedicated to providing practical legal insights on bankruptcy, financial protection, and asset management. Hosted by Katie Roberts with expert guidance from Barry Levine, this show breaks down complex financial concepts into easy-to-understand discussions.

Wage Garnishment 101: What You Should Know and How Bankruptcy Can Help

Episode Summary: 
In this episode of Bankruptcy Through the Looking Glass, experienced bankruptcy attorney Barry Levine, alongside host Kevin Rosenquist, delves into wage garnishment—what it is, how it works, and how bankruptcy can provide relief. Barry discusses common misconceptions surrounding wage garnishment, explaining that the only guaranteed way to stop a garnishment is by filing for bankruptcy. He also explains the different types of debt that can lead to garnishments, such as credit card debt and IRS, and shares insights on how creditors are handling collections differently today compared to the past. Tune in for a thorough breakdown of wage garnishment, potential defenses, and how bankruptcy could be a solution for those in need of financial relief.
Time Stamps:
00:00 - Welcome to Through the Looking Glass
00:22 - Barry discusses the common misconceptions about wage garnishment and bankruptcy
02:56 - What types of debt can lead to wage garnishment?
03:32 - How wage garnishment is initiated
04:31 - Does challenging a wage garnishment in court work?
06:02 - The rare occurrence of wage garnishment today compared to the past
07:26 - Other ways to stop wage garnishment besides bankruptcy
08:14 - Real-life example of a client who paid creditors for years and ultimately filed for bankruptcy
09:06 - How often does negotiating with creditors work?
10:41 - What can happen when business owners file bankruptcy for personal liabilities
11:50 - Can you challenge a wage garnishment in court?
12:44 - The current state of aggressive creditors and how wage garnishment has become rare
14:28 - Barry discusses how bankruptcy helps individuals assess their financial situation
15:40 - Final thoughts on prioritizing essential payments over credit card debt
About the Show: Through the Looking Glass is a podcast where bankruptcy attorney Barry Levine provides insights into the complex world of bankruptcy law, offering advice and personal anecdotes to help listeners navigate financial struggles. Whether you're facing wage garnishment, dealing with overwhelming debt, or just trying to understand the bankruptcy process, Barry and his guests break it down in an accessible and practical way.
 

When Bankruptcy Meets Tax Debt: Evaluating Your Options with Barry Levine

Episode Summary:In this episode of Bankruptcy Through the Looking Glass, host Kevin Rosenquist is joined by bankruptcy expert Barry Levine to dive deep into the issue of tax debt and its intersection with bankruptcy. They discuss the complexities of dealing with overwhelming tax liabilities, including common reasons individuals find themselves in tax debt, options like bankruptcy, and the IRS’s approach to collecting taxes. Barry shares valuable insights on strategies like offers in compromise and asset liquidation, along with practical advice on how to navigate these challenges. With over four decades of experience, Barry also reflects on his many stories of clients and the realities of tax collection.
Timestamps:
00:00 - 00:05: Intro
00:05 - 00:31: Kevin introduces the topic and welcomes Barry
00:31 - 02:33: How common is tax debt and why it’s growing? Barry discusses real-life examples of individuals failing to file tax returns
02:33 - 04:06: Common reasons for falling into tax debt, including self-employment taxes and withholding issues
04:06 - 05:26: IRS tactics for dealing with tax debt: Estimated returns and tax liens
05:26 - 06:29: What is an offer in compromise? Barry explains how this process works
06:29 - 07:09: The importance of asset liquidation in resolving tax debts
07:09 - 08:33: Real stories from Barry's clients dealing with tax debt and the IRS
08:33 - 09:23: Bankruptcy vs. offers in compromise: How to evaluate your best option
09:23 - 11:35: Pros and cons of filing bankruptcy to discharge tax debts
11:35 - 13:43: Why people end up with years of tax debt and how the IRS handles long-term tax issues
13:43 - 16:20: The importance of being proactive with the IRS and avoiding mistakes like hiding financial transactions
16:20 - 16:44: Barry signs off with his trademark saying "Zygazook!"
About the Show:Bankruptcy Through the Looking Glass is a podcast hosted by Kevin Rosenquist and bankruptcy attorney Barry Levine, where they discuss real-life issues in bankruptcy law. Each episode dives into the intricacies of financial troubles, debt relief, and strategies to regain control over your finances. With Barry’s decades of experience in bankruptcy law, listeners get insightful, expert advice on navigating complex situations, including tax debt, creditor negotiations, and the nuances of various bankruptcy chapters.

Foreclosure Help: Tailoring Solutions with Barry Levine

Episode Summary:
In today’s episode of Through the Looking Glass, Kevin Rosenquist sits down with Barry Levine to discuss strategies for homeowners facing foreclosure. Barry shares essential insights on how to assess your situation and the key steps to take when you first realize foreclosure may be imminent. The conversation also clears up common misconceptions about the foreclosure process and bankruptcy, providing listeners with a clearer path to understanding their rights and options. Barry dives into the pros and cons of bankruptcy, what actually works to stop foreclosure, and why certain debt solutions—like mortgage modifications or debt consolidation—are often more trouble than they’re worth.
Time Stamps:
00:00 - Introduction to the episode00:05 - Kevin introduces Barry Levine and the topic of foreclosure solutions00:44 - Key steps homeowners should take when facing foreclosure01:34 - Common misconceptions about foreclosure03:30 - How Barry assesses clients' situations to prevent foreclosure05:37 - The reality of mortgage modifications and why bankruptcy might be a better solution07:16 - The importance of bankruptcy in stopping foreclosure07:39 - What happens when you file for bankruptcy08:37 - Debunking fears around bankruptcy and its long-term effects09:58 - Tips for rebuilding credit post-bankruptcy10:29 - Debunking myths about credit post-bankruptcy11:30 - The truth about debt consolidation companies12:43 - When is the right time to seek help from an attorney?13:01 - The importance of proactive steps before financial troubles get out of hand14:29 - Conclusion and signing off
About the Show:
Through the Looking Glass with Barry Levine is a podcast designed to help listeners navigate the complexities of bankruptcy, foreclosure, and debt management. Hosted by Kevin Rosenquist, the show features Barry Levine, an experienced attorney who shares his expert legal insights, practical advice, and no-nonsense strategies for those struggling with financial challenges.

Financial Fresh Start With Bankruptcy Vs. The Mess of Debt Settlement

Episode Summary 
In this episode, Attorney Barry Levine and LPN Host Kevin Rosenquist discuss the intricacies of bankruptcy, focusing on the differences between discharging debt through bankruptcy and the challenges of debt settlement. Barry provides insights into the types of debts categorized in bankruptcy, the process of discharging deficiencies, the reaffirmation of mortgages, and some legal nuances regarding collection practices in Massachusetts. The conversation also touches on amusing anecdotes, cryptocurrency pitfalls, and practical advice for navigating financial trouble.
 
Timestamps:
[00:00-00:30] Introduction and light-hearted banter about marrying rich for financial stability.
[00:30-01:45] Explanation of debt categories in bankruptcy: secured, priority tax claims, and unsecured debt.
[01:45-04:54] Deficiencies in foreclosures, discharging them in bankruptcy, and reaffirmation agreements.
[04:54-08:59] The process leading up to filing bankruptcy, including paying legal fees and credit counseling.
[08:59-10:56] Massachusetts litigation and the risks of ignoring court summons.
[10:56-14:43] Credit counseling requirements and practical tips for completing them.
[14:43-16:45] Filing the case and the 341 Meeting of Creditors—what to expect.
[16:45-18:38] Bitcoin and bankruptcy—how trustees address cryptocurrency holdings.
 
About The Show
Bankruptcy Through the Looking Glass is a podcast hosted by attorney Barry Levine, offering practical advice and candid insights into bankruptcy law and financial solutions. With decades of legal experience and a touch of humor, Barry breaks down complex legal concepts and shares real-life examples to help listeners understand the nuances of debt discharge, the bankruptcy process, and navigating financial challenges. Join Barry and his co-host Kevin Rosenquist as they explore strategies for a fresh financial start.
 

Understanding Bankruptcy vs Debt Settlement

In this episode of Bankruptcy Through the Looking Glass, Barry Levine breaks down the key differences between bankruptcy, debt settlement, and debt consolidation, explaining why bankruptcy often offers the most comprehensive solution. Barry shares real-life stories and practical insights to debunk common myths, alleviate fears, and guide listeners through the bankruptcy process. Along the way, Barry’s humor and candid advice shed light on how to face financial challenges with clarity and confidence.
 
Timestamps:
[00:30-01:01] Revisiting key differences between bankruptcy, debt settlement, and consolidation.
[01:01-03:24] Bankruptcy’s efficiency and why settlement options often fail.
[03:24-05:11] Case study: The pitfalls of debt consolidation and recurring debt.
[05:11-06:33] Unique challenges, including Bitcoin and custodial access issues.
[06:33-08:18] How bankruptcy impacts credit scores versus other debt solutions.
[08:18-09:39] Dischargeable debts and the challenges of settling debts outside bankruptcy.
[09:39-11:49] Legal protections bankruptcy offers, including the automatic stay.
[11:49-13:17] Misconceptions about bankruptcy and frustrations with debt settlement companies.
[13:17-15:35] Advice for those fearful of bankruptcy, plus Barry’s signature humor.
 
About The Show
Bankruptcy Through the Looking Glass is a candid and insightful podcast hosted by experienced attorney Barry Levine, aimed at demystifying the often misunderstood world of bankruptcy law. With his decades of expertise and a sharp sense of humor, Barry tackles complex financial topics like debt settlement, bankruptcy filings, and credit scores, while sharing real-life stories and practical advice. Whether you're navigating financial hardships or simply curious about the legal aspects of debt, this podcast provides a clear, empathetic perspective on achieving a fresh financial start.

The Dangers of Debt Settlement and Debt Consolidation

In this Bankruptcy Through the Looking Glass episode, attorney Barry Levine joins host Kevin Rosenquist to discuss the myths and realities of debt settlement and consolidation. Barry explains how these services often fail consumers and why bankruptcy can sometimes be a better option. They cover how debt settlement companies operate, the potential pitfalls of debt consolidation, and the emotional toll financial struggles can impose. Barry also shares insights on why bankruptcy shouldn’t be feared and how it can offer a fresh start for many people burdened with debt.
 
Timestamps:
[00:00] - Introduction to Episode 7 with Barry Levine and Kevin Rosenquist.
[01:10] - What is debt settlement? Barry explains how these companies operate and the fees involved.
[05:00] - The marketing of debt settlement companies and why it can mislead consumers.
[08:20] - Real-life example: A client who turned to bankruptcy after debt settlement failed.
[11:45] - What is debt consolidation? Barry describes how it differs from debt settlement.
[15:10] - Dangers of consolidating debt, particularly through loans secured by a home.
[20:30] - Risks of debt settlement: tax implications and the 1099 forgiveness of debt.
[25:00] - Consumer misconceptions about bankruptcy and credit score impact.
[30:45] - Barry’s take on overcoming the fear of bankruptcy.
[35:20] - Steps to stop automatic payments to debt settlement companies and move toward bankruptcy.
[40:50] - What to expect at a bankruptcy hearing (341 meetings) and dispelling common fears.
[45:00] - Final thoughts: Finding relief through bankruptcy over failed debt settlement and consolidation strategies.
About the Show
Welcome to Bankruptcy: Through the Looking Glass with Barry Levine. Delve into the intricate world of financial renaissance as we navigate the complexities and triumphs of bankruptcy.

Global Perspectives on Bankruptcy

In this episode of "Bankruptcy Through the Looking Glass," host Matt Sky engages with bankruptcy attorney Barry Levine, who shares his extensive experience navigating financial challenges. The discussion delves into the differences between U.S. bankruptcy laws and those in other countries, highlighting the unique practices that could inspire improvements in the U.S. system. Barry reflects on the complexity of insolvency processes and contrasts them with the more streamlined nature of U.S. bankruptcy laws. Tune in for insightful perspectives on debt relief, bankruptcy, and the international landscape of financial recovery.
Timestamps:
[00:01:12] International bankruptcy practices comparison.
[00:07:39] Chapter 11 vs Chapter 13.
[00:09:58] Chapter 13 bankruptcy advantages.
[00:15:17] Protecting assets during financial crises.
[00:16:50] Judgment proof explained.
About the Show
Welcome to Bankruptcy: Through the Looking Glass with Barry Levine. Delve into the intricate world of financial renaissance as we navigate the complexities and triumphs of bankruptcy.