Post-Collapse: The Uncertain Lifespan of Cryptocurrency What happens to your crypto when you die? Or when your cryptocurrency goes bankrupt? Bitcoin, Etherium, Dogecoin, Litecoin, Monero, and other popular cryptocurrencies can’t be saved on your computer. And by its nature alone – not FDIC insured, high volatility, pseudonymous-esque transactions, legal uncertainty – you can’t keep crypto in a bank either.  There are horror stories about people dying with loads of crypto assets on their devices and their survivors unable to find the key. For this reason, crypto exchanges have flourished. But in the 2022 collapse, household names in the crypto industry – Celsius Network, Voyager Digital, FTX, BlockFi – all filed for bankruptcy under Chapter 11. On top of these security risks, crypto owners now need to be hyper aware of crypto bankruptcies and how to navigate around them. What Happens If the Crypto Exchange Goes Bust? If you lost funds to a cryptocurrency when it declared bankruptcy, you may be eligible to file a customer claim. Crypto wallets protect your digital currencies. Coinbase, SafePal, Exodus, and Guarda are some “hot wallets” on the crypto market. If you have a wallet, then you can argue that the crypto exchange is simply holding what you own as a “custodian” and that the ownership remains yours. But if you don’t have a wallet, you may find yourself simply holding a claim.  Here’s the interesting part. If you have a claim, that claim is calculated in the dollar value of what you have as of the date of the filing of the bankruptcy. So, any upside in the increase in value of the cryptocurrency after the filing of the bankruptcy case no longer belongs to you – any more than if your claim was for a gold bar. Your claim would not be for the gold bar but rather for the value of the gold bar as of the date of the filing of the bankruptcy case. Protect Your Digital Assets with a Cryptocurrency Lawyer Crypto investors are savvy and well-versed in all matters of cryptocurrency. However, bankruptcy is another story altogether. Some of the smartest lawyers in the country have been spending full time addressing the highly technical, unique, and brand-new issues that have arisen in these novel cryptocurrency bankruptcy cases. And as is frequently the case, the creditors, especially the individual creditors, are left blowing in the wind.  Yes, there are creditors’ committees representing the interests of unsecured creditors. But you want to be sure that your own individual interests are being represented and protected as well. For the most part, your cryptocurrency has not been stolen, but it has been mishandled. Undoubtedly, this will end up costing you dearly. If you’ve invested in cryptocurrency and the crypto is held in an exchange in bankruptcy, hire an attorney who is versed in Chapter 11 bankruptcy and cryptocurrency to represent your interests and recover your losses. At Lakelaw, we represent you fearlessly and zealously. Contact us today to schedule a free confidential consultation. The post Crypto Bankruptcies: How to Protect Your Digital Assets When Exchanges Collapse appeared first on Lakelaw.

 Business Insider has a very helpful article titled "How to file for bankruptcy ".The article can be found at https://www.businessinsider.com/personal-finance/how-to-file-for-bankruptcyPeople with questions about Jim Shenwick, Esq  917 363 3391  jshenwick@gmail.com Please click the link to schedule a telephone call with me. https://calendly.com/james-shenwick/15minWe held individuals & businesses with too much debt!

Everyone new to bankruptcy needs a guide to this specialized legal realm. Just as you can’t tell the players without a scorecard, it’s hard to make heads or tails of bankruptcy law when it’s new to you. Jon Hayes has what you need to tell priorities from the absolute priority rule.  Exemptions from exclusions. Denial […] The post Getting Started In Bankruptcy Law appeared first on Bankruptcy Mastery.

How Do You Handle Student Loans When Filing For Chapter 13? Student Loan Debt & Bankruptcy: Strategies for Managing Financial Obligations It’s no secret that student loan debt is overwhelming for many of today’s adults. A common reason why individuals reach out to a Chapter 13 bankruptcy attorney is because they are wondering what options they might have to reduce, discharge, or otherwise eliminate their student loan debt. Unfortunately, getting your student loan debt discharged in bankruptcy is extremely difficult and rare, although it can be successful in some circumstances. However, filing for bankruptcy can still be an option that may help you better manage your student loan debt. Once credit card debt, medical debts, and other financial obligations are discharged into bankruptcy, individuals often have more flexibility to make payments on their student loans.  Another approach is to file a Chapter 13 bankruptcy, which can give you some flexibility on the interest rates on your student loan debt. Once your other debts have been discharged, you may be able to make the remaining payments on your student loans without financial hardship. Consult with your bankruptcy attorney to discuss your options for using bankruptcy to manage student loan debt. Why are Student Loans Difficult to Wipe Out in Bankruptcy? Typically, debtors can have unsecured debts discharged through the bankruptcy process. This generally includes credit card debt, medical bills, and personal loans. Student loans are treated differently because they are an investment in your knowledge and skills with no tangible asset to reclaim. This means they cannot be automatically discharged in a Chapter 7 or Chapter 13 bankruptcy proceeding. In order to discharge your student loans, you’ll need to work with a zero-down bankruptcy attorney to file a separate lawsuit which is called an adversary proceeding. You and your bankruptcy attorney will need to prove to the court that paying your student loans will cause an “undue hardship” and that your circumstances are unlikely to change. Exactly how you can demonstrate that hardship will differ between states, but it is always a challenging obstacle, and not many individuals are able to meet the necessary criteria. How Can I Use Chapter 13 Bankruptcy to Manage Student Loan Payments? Even if you, like most people, cannot have your student loans discharged through bankruptcy, filing a Chapter 13 bankruptcy can still be a useful way to manage your payments. With this type of bankruptcy, your debts are essentially restructured and you’ll be able to keep all of your property and assets. You’ll make monthly payments that are based on your income to your bankruptcy trustee for 3-5 years. With this plan, car payments, student loans, and other debts will be included in your payment plan, even if they are not ultimately dischargeable. At the end of the payment period, your remaining debts that are eligible for discharge will be eliminated. How are Student Loans Handled in a Chapter 13 Bankruptcy? During your Chapter 13 bankruptcy pay period, you will make payments to your bankruptcy trustee, who will send a portion of your payments to your student loan lender(s). This money may reduce the principal or only cover interest, depending on the terms of your loan. Interest will continue to accrue on the balance of your student loan debt while you are in the Chapter 13 bankruptcy repayment period. Once you’ve finished making your monthly payments over your determined 3-5-year period, your bankruptcy trustee will discharge the remaining eligible debts, even if you have not paid them in full through your repayment plan. Although your student loan debt will not be discharged, your lender will recalculate your payments based on the new loan balance and help you set up a new payment schedule. Without the weight of your other debts, it’s likely that you’ll be in a better situation to afford your student loan payments. What Other Options Do I Have for Managing Student Loan Debt While in Bankruptcy? Just because you are going through a Chapter 13 bankruptcy doesn’t mean that other options become unavailable.  Assistance: You can apply for student loan assistance programs even while you are in a Chapter 13 bankruptcy. Reconsolidation: You may be able to seek a debt consolidation program that can lower your overall interest rate.  Modify Chapter 13 plan: Consult with your Chapter 13 bankruptcy attorney to determine whether it may be a good idea to modify your Chapter 13 payment structure. Once you’ve reconsolidated your student loans, it may be better to remove them from your bankruptcy plan. Dismiss your Chapter 13 case: A new student loan payment plan may mean that you don’t need a Chapter 13 bankruptcy at all, which can be beneficial to you in the long run. Your bankruptcy attorney can review the implications of dismissing your Chapter 13 case. Transfer to a Chapter 7 bankruptcy: If a student loan debt reconsolidation program means you can afford your student loan payments, transferring to a Chapter 7 bankruptcy might be a better option in some cases. Although filing for bankruptcy isn’t the right choice for everyone and it’s extremely rare for student loan debt to be discharged, it can be an effective way to make your student loan payments more manageable. Consult with My AZ Lawyers to discuss your financial options and whether filing for a Chapter 13 bankruptcy might be right for you, contact us today. This article is provided courtesy of Blake Goodman, P.C., an experienced bankruptcy attorney who has been providing financial solutions to clients in Hawaii and other U.S. states for three decades.   Arizona Offices: Mesa Location: 1731 West Baseline Rd., Suite #100 Mesa, AZ 85202 Office: (480) 448-9800 Email: info@myazlawyers.com Website: https://myazlawyers.com/ Phoenix Location: 343 West Roosevelt, Suite #100 Phoenix, AZ 85003 Office: (602) 609-7000 Glendale Location: 20325 N 51st Avenue Suite #134, Building 5 Glendale, AZ 85308 Office: (602) 509-0955 Tucson Location: 2 East Congress St., Suite #900-6A Tucson, AZ 85701 Office: (520) 441-1450 Avondale Location: 12725 W. Indian School Rd., Ste E, #101 Avondale, AZ 85392 Office: (623) 469-6603 The post How Do You Handle Student Loans When Filing For Chapter 13? appeared first on My AZ Lawyers.

Never be afraid to ask your mediator for help.  We all need a little help sometimes. To illustrate, let’s consider Audrey Wood’s Silly Sally, which is a children’s book written in rhyme.  I’d like to share a few excerpts. “Silly Sally went to town, walking backwards, upside down.” “Along the way, she met a pig, a silly pig, they danced a jig.” Sally continues walking – that is walking backwards upside down – but now the pig has joined her.  As she walks, she is joined by a dog and a loon. And then: “On the way, she met a sheep, a silly sheep, they fell asleep.” “Now how did Sally get to town, sleeping backwards, upside down?” “Along came Neddy Buttercup, walking forwards, right side up.” Neddy sees them.  And he stops to help. How does he help?  He tickles them to wake them up and then they all go to town “walking backwards, upside down.” Putting aside the rhymes and illustrations, which are a lot of fun, one important thing we learn from Silly Sally is that we all need a little help sometimes to get from here to there. How does this message translate to mediation? Sometimes we need help to get from conflict to resolution.  That’s why we mediate.  But sometimes we need help for more specific reasons.  When that happens, tell your mediator. Does your client need help to process their emotions?  Tell your mediator. Does your client have unrealistic expectations?  Tell your mediator. Do you need help understanding the other side’s views on something?  Tell your mediator. Do you recognize an obstacle to resolution?  Tell your mediator. Never be afraid to ask the mediator for help. Don’t be Silly Sally who was sleeping backwards, upside down. Instead, speak right up and let the mediator be Neddy Buttercup. You may just find your path to resolution. Author’s Note: As a mediator, I am a “forever student” always seeking new ways to help people find a path to resolution in mediation.  As a parent, I have spent a gazillion hours reading books to my children.  Oftentimes, these books teach me new ways to approach conflict resolution.  In this case, Audrey Wood’s “Silly Sally” inspired this post. Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. Mediator Insights - Help The post Mediator Insights: Help appeared first on Sylvia Mayer Law.

Have you ever said to your kids “use your listening ears”? Just as it is important that our children use their listening ears at home and at school, so too is it important that we use our listening ears in mediation. As a mediator, I work hard to listen to what the parties have to say about the facts and the law, and also what they say about their experience, emotions, and needs. Parties should work hard to listen too. Listen to the other side’s views on the facts and the law. Listen to learn about their wants and needs. Listen to the feedback from the mediator. Using your listening ears is a great way to find the path to resolution.  Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. MMM - Use Your Listening Ears The post Mayer Mediation Minute: Use Your Listening Ears appeared first on Sylvia Mayer Law.

As a mediator, I pay attention to word cues.  You should too. As you interact with others, listen for the words they use. Not just what the words mean, but the words that are said. Subconsciously, we all offer cues on how we process information. Someone who processes through logical analysis may say “I think.” Someone who processes through visual input may say “I see.” Someone who processes through emotions or intuition may say “I feel.” None of these are right or wrong. Instead, they are cues and these cues may help you connect and understand the speaker. And connection and understanding are often the keys to unlocking a path forward.  Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. MMM - Word Cues The post Mayer Mediation Minute: Word Cues appeared first on Sylvia Mayer Law.

As a mediator, I start every mediation believing that we will find a path to resolution. You should believe it too. Why is it important for the parties to believe? Because if you believe it is possible then it will be. Belief shapes our thoughts and influences our actions. Our beliefs can also affect the thoughts and actions of others. In negotiation and conflict resolution, believing that you can find a path forward is often the first step down the road to resolution.  Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. MMM - Believe The post Mayer Mediation Minute: Believe appeared first on Sylvia Mayer Law.

Mediation is a multilayered process including, among other things, sharing, learning, probing, and exploring.  Sometimes, one or both parties get stuck.  And sometimes the stuck party will say “they will never accept what I can offer.”  Instead of trying, the stuck party has prejudged how the other side will respond.  To which I always say – you will never know until you try, so just ask, and then we will find out. To illustrate, let’s consider Christopher Denise’s Knight Owl. Since the day he was hatched, Owl has only wanted one thing – to be a Knight.  He dreamed of it.  He worked hard for it.  And then he applied to Knight School and was accepted.  His dreams were about to come true! Although an excellent student, the physical part of being a Knight was challenging.  Given his size, it was hard to hold a sword or wield a shield.  And he kept falling asleep during the day.  But he persevered and his commitment paid off.  He graduated from Knight School with honors. Owl was assigned to the Knight Night Watch.  He was really good at it.  While other Knights fell asleep, Owl was alert and diligent.  Then, one night, Owl heard a strange sound.  And he saw a strange sight.  Rising up, up, up above the castle was a dragon.  A very hungry dragon. The dragon thought Owl looked like a tasty snack.  Owl protested.  Then Owl had an idea.  He offered the dragon pizza instead.  Turns out, this dragon loved pizza, so they spent the rest of the night talking and eating pizza. This story perfectly illustrates the point.  Don’t prejudge how the other side will respond, just ask.  They may say yes.  Or the dialog may continue.  Either way, you will be one step further down the path to resolution. Author’s Note: As a mediator, I am a “forever student” always seeking new ways to help people find a path to resolution in mediation.  As a parent, I have spent a gazillion hours reading books to my children.  Oftentimes, these books teach me new ways to approach conflict resolution.  In this case, Christopher Denise’s “Knight Owl” inspired this post. Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. Mediator Insights - Just Ask The post Mediator Insights: Just Ask appeared first on Sylvia Mayer Law.

In any dispute, there is often a wide disparity between what each side wants and what either side may realistically get.  One of the critical components in bridging the resolution divide is flexible thinking. Flexible thinking means the ability to adapt and adjust as the facts, the law, and the emotions play out.  Flexible thinking allows one party to accept that the facts are not as clear-cut as they believed.  Or another party to recognize that the law has greater uncertainty than expected.  Or maybe both parties need to acknowledge the existence of practical constraints on possible settlement options. Flexible thinking leads to receptivity to resolution. To illustrate flexible thinking outside of the mediation context, let’s consider Lisa McCourt’s I Love You, Stinky Face. Mama is reading a bedtime story to her child.  When she finishes, she says “I love you, my wonderful child.”  The child responds with a series of questions exploring her love. But what if I were a smelly skunk and my name was Stinky Face?  Mama says she’d give the skunk a bubble bath and whisper “I love you, Stinky Face.” But what if I were an alligator with sharp teeth?  Mama says she’d buy a big toothbrush and say “I love you, my dangerous alligator.” But what if I were a horrible meat-eating dinosaur?  Mama says she’d make a mountain of hamburgers and say “I love you, my sweet, terrible, dinosaur.” But what if I were a slimy swamp monster?  Mama says then I’d live by the swamp to take care of you and tell you “I love you, my slimy swamp monster.” The questions continue until the child is confident in Mama’s love.  Mama’s flexible thinking (and unconditional love) helps her child fall asleep safe in that love. Outside of the story, in the real world, we too can use flexible thinking to solve problems.  With flexible thinking, we can adapt and adjust.  With flexible thinking, we become receptive to new ideas, new information, and new options for resolution.  Flexible thinking may just pave the path to resolution. Author’s Note: As a mediator, I am a “forever student” always seeking new ways to help people find a path to resolution in mediation.  As a parent, I have spent a gazillion hours reading books to my children.  Oftentimes, these books teach me new ways to approach conflict resolution.  In this case, Lisa McCourt’s “I Love You, Stinky Face” inspired this post. Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. Mediator Insights - The Power of Flexible Thinking The post Mediator Insights: The Power of Flexible Thinking appeared first on Sylvia Mayer Law.