The McCune & Sullivan Law Firm

Announcing the new firm!

admin — Wed, 24 Aug 2011 15:27:44 +0000

Matt McCune and Bryan Sullivan have merged their law practices to form the new firm, McCune & Sullivan. Our new office location is 2700 S. Broadway, Ste. 303, Englewood CO 80113. We are hear to serve your consumer bankruptcy needs!

Bankruptcy filings reach a 5 year high

Matt — Wed, 18 Aug 2010 02:12:55 +0000

Bankruptcy filings have reached the highest point since 2005. From July 2009 through the end of June 2010, there were more than 1.5 million bankruptcy filings in the United States. This is an increase of 20 percent for the same period of 2008-2009.

What is a lien strip?

Matt — Tue, 03 Aug 2010 19:11:04 +0000

Under Section 506 of the Bankruptcy Code a Chapter 13 debtor may do a “lien strip” in certain situations. A “lien strip” is basically a legal process under a bankruptcy where a second mortgage is removed from a debtor’s home. You get to keep your home, but your second mortgage goes away and the debt is discharged in the bankruptcy. It is a very beneficial option for people who have lost a lot of value in their home over the past several years. Here are a few quick requirements to be able to do a lien strip:

1. You can only strip a lien in a Chapter 13 case (not an option in Chapter 7).

2. You must be “upside down” on your first mortgage alone (see attached graph – in this example the value of the home is approximately $220,000 and $250,000 is owed on the first mortgage. In this case, the second mortgage of approximately $30,000 can be “stripped off”).

3. You must want to keep your home and be able to afford the first mortgage.

4. You need competent legal representation. This is complicated stuff and you need an experienced bankruptcy attorney to get it done right! Feel free to call us with any questions!

EXAMPLE OF LIEN STRIP SCENARIO:

Protection against employer discrimination

Matt — Fri, 30 Jul 2010 17:16:53 +0000

Did you know that when you file for bankruptcy you are protected against discriminatory treatment from your current employer? The Bankruptcy Code protects you from being terminated by your current employer due to the bankruptcy filing. You are also protected from the government denying a license or other permit that is a condition to your employment. We are currently suing the United States government for illegally terminating a security guard who had a government contract job. When considering a bankruptcy attorney, ask yourself whether your attorney will fight for your rights and sue any party who illegally discriminates against you? We will!

Oral arguments today on plan length

Matt — Thu, 29 Jul 2010 21:47:35 +0000

Today we had oral arguments in front of US Bankruptcy District Court Judge Tallman. The issue is required plan length for certain debtors who are above the “median income” but have negative disposable income on the Mean’s Test. I am arguing to allow these debtors to be allowed a three year repayment plan and the Trustee is requiring a five year plan. We should know soon enough what the Court’s ruling is. When considering a bankruptcy attorney, ask yourself if your attorney will go to the mat for you and fight to represent your interests? We will and do everyday!!

Announcing new member of the firm!

Matt — Wed, 21 Jul 2010 20:33:30 +0000

It gives me great pleasure to introduce our newest team member. Dallas has joined us recently… As you can see, he’s a bit lazy but we are hoping lots of training from Emmitt will help him reach full Ambassador status!