Dunaway Law - October 2019

Dunaway Law - October 2019

October 2019

DUNAWAY DIGEST

One Perimeter Park South, Suite 100 North, Birmingham, AL 35243 • 205.705.3590 • MatthewDunaway.com

WisdomWith Age HowWe Come to Terms With Our Past Mistakes

Being young means thinking you know everything.

There’s a lot of wisdom that comes with age and learning how to look at the big picture.

Being an adult means realizing how clueless you’ve been.

As I’ve gotten older, there have been plenty of times when I thought, “Gosh, I wish I knew this when I was young!” There’s a lot of wisdom that comes with age and learning how to look at the big picture. As we get older, we learn how to adjust our expectations, wants, and desires and get them more in line with the things that are actually good for us. This applies to what we discussed last month about learning to recognize the difference between a happy home and a big house. Another area where we can see this “wisdom with age” idea is in college and student loans. Around 30 years ago, there was a huge push to make sure everyone went to college and got their degrees. The idea was that if more people were educated, our society would be better for it. There’s no denying that education is incredibly important, and I believe that anyone who has the aptitude and desire to go to college should have the opportunity to go. Unfortunately, over the last 20 years, we’ve completely adulterated what college is. Why do we tell kids they have to go to college? So they can get a good job and make enough money to support themselves and their family, right? For this last

generation, kids who went to college were sold the idea that, if they went to college and applied themselves, it would prepare them for adulthood. As for the kids who couldn’t pay for college out of pocket, they were told to get student loans that they’d be able to pay off once they graduated and got a good job. But that isn’t happening for the majority of graduates. I have nieces and nephews who are going through college, and it’s so different than when I was growing up. Back then, student loans weren’t outrageous, and new graduates really were able to get decent jobs fresh out of school. Today, kids are walking out of college with diplomas and ridiculous student loan debts that will take a lifetime to pay off. Not long ago, someone came into my office after racking up six figures while getting their bachelor’s degree. To make matters worse, after graduating, they were only able to find a job at Walmart making $12 an hour. Unfortunately, student loan debt can’t be discharged through bankruptcy.

There are a lot of people looking at their student loan debt and thinking, “Shoot. I wish I could go back and tell myself not to do this.” Fortunately, our society as a whole seems to be waking up to this fact. Our culture isn’t as naive about college as it was 30 years ago. Kids who are graduating high school these days are being taught to take a realistic look at their futures, the burden of loans, and the job prospects that will come with a certain degree. Gaining this wisdom doesn’t automatically make our problems go away. There’s still over $1.2 trillion in student debt in the United States. But being willing to reflect on the past and reevaluate our choices is the first step in making better decisions in the future.

–Matt Dunaway

1 Phone: 205.705.3590

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Where Should I Get a Dog?

3 Reasons to Adopt FromYour Local Shelter

So, you’ve decided to get a dog. Maybe you think your kids could use a new playmate, or maybe you and your spouse want someone to join you on morning walks. Whatever the reason, the next question is where to get them. Instead of paying exorbitant amounts of money to a breeder for a purebred puppy, why not check the local shelter or humane society? October is Adopt a Shelter Dog Month, and, if you’re looking to get a dog, here are a few reasons to check the shelters first. It’s Cheaper to Adopt Adoption prices include the upfront expenses, such as spaying, neutering, and vaccinations, that you wouldn’t get from a breeder or pet store. Some shelters even include the cost of microchipping in their fee. If you adopt from a shelter, you’re ensured a healthy, happy dog. With some shelter dogs, you may also save on housebreaking and training costs. Lots of Choices Is there a specific breed you’re looking for? Chances are you will find it at the shelter. Shelter dogs come in all shapes, sizes, and ages. Some organizations rescue specific breeds, and with a little research, you may find one near you. Even if you don’t find the breed you’re looking for, you may find an indispensable companion in a breed you weren’t looking for — and you never would have found them if you didn’t check the shelters. Great for Your Kids Having a dog can be great for your kids, and getting it from a shelter can be even better for them. Dogs encourage kids to play outside and be more active, and kids gain a friend who loves them unconditionally. Plus, if you adopt, the act of giving an unwanted animal a new home can teach your kids empathy. If you still haven’t checked your local shelter for the newest member of your family, what are you waiting for? Find a furry friend you and your kids will love today!

Autumn Candy Carve Costume

Scarecrow Halloween

Pumpkin Football Harvest Leaves

October Orange

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Lawsuits in Bankruptcy Cases

What Debtors Need to Know About Adversary Proceedings

Assumed Abuse If a debt was acquired very shortly before the debtor filed for bankruptcy, the creditor may file an adversary proceeding. This is an example of assumed abuse, in which the debtor may have intentionally acquired the debt with the goal of filing for bankruptcy to avoid paying it back. Usually, debts acquired over 90 days prior to filing for bankruptcy aren’t suspect. Adversary proceedings almost never come up in bankruptcy cases, but debtors and creditors alike need to be aware of them. This is why it’s so important to work with a bankruptcy attorney who knows how to handle an adversary proceeding filed against you. Matthew Dunaway has decades of experience navigating the complicated waters of bankruptcy. Call 205.705.3590 and talk to an experienced attorney about your financial situation today.

While stressful, bankruptcy cases have the benefit of not being overly litigated for the most part. In certain circumstances, a lawsuit may be filed within a bankruptcy case. These are called adversary proceedings, and they can be filed by the debtor, the creditor, or a bankruptcy trustee. Adversary proceedings are unusual in bankruptcy cases, but they can happen. Here are the most common reasons why an adversary proceeding might come up during a bankruptcy case. Automatic Stay Violation When you file for bankruptcy, a court order will issue an automatic stay. This means all civil lawsuits filed against you or collection action taken against your property must immediately stop. If a creditor violates the automatic stay, for example, if they continue to contact the debtor to collect the debt, the debtor can file an adversary proceeding against them.

Debts Are Nondischargeable There are some debts, like taxes or student loans, that cannot be discharged with bankruptcy. Creditors may file an adversary proceeding if they believe their debt is nondischargeable. The court will look into the debt and determine if it can be wiped out with bankruptcy.

RECIPE:

Leftover Candy Snack Mix

This recipe from Momofuku Milk Bar chef and “Master Chef” judge Christina Tosi makes great use of those extra Halloween goodies. It’s a quick and easy way to both elevate and get rid of unwanted leftovers.

1 Corinthians 6:12

“‘I have the right to do anything,’ you say — but

INGREDIENTS:

• • • • • •

2 cups mini pretzels, coarsely broken

1/4 cup light brown sugar 2 tbsp granulated sugar 1/3 cup dry milk powder 6 tbsp unsalted butter, melted

not everything is beneficial. ‘I have the right to do anything’ — but I will not be mastered by anything.”

12 oz mini candy bars, such as Snickers, chopped into 1/2-inch pieces

DIRECTIONS:

1. Heat oven to 275 F. 2. In a large mixing bowl, fold together pretzels, sugars, milk powder, and butter. 3. Spread mixture on a baking sheet lined with parchment paper and bake for 20 minutes. 4. Let cool for at least 30 minutes and mix in candy bar pieces before serving.

Inspired by Food & Wine Magazine

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Inside This Issue

Some Thoughts on Student Loans Page 1 Reasons to Adopt Dogs From Shelters Take a Break Page 2 Will an Adversary Proceeding Impact Your Bankruptcy Case? Leftover Candy Snack Mix Page 3

The Value of History Page 4

‘The Glorious Cause’ by Robert Middlekauff A Page FromMatt’s Bookshelf

My dad had a copy of “The Glorious Cause” on his bookshelf when I was growing up, but I wouldn’t read it for myself until I was in a history class at Auburn. Robert Middlekauff writes about the American Revolution in a way that goes beyond your typical history book and gives you a deeper understanding of what the men and women of the revolution were fighting for. Our Founding Fathers weren’t perfect and it’s easy to tear them down today, which is why “The Glorious Cause” does such a powerful job of reminding us of how our country came to be. The people of the American colonies weren’t fighting for a government that would give them things; they were fighting for a government that would leave them alone.

of Independence or the end of our war with Great Britain, because the United States of America wasn’t created after those historic

us who were alive that day clearly remember the trauma, but we have an entire generation

of kids in school who hadn’t even been born yet. Less than 20 years ago, the United States of America changed in a single day, but it takes just a generation to forget our history. As a nation, I think we’ve lost a lot by forgetting what those 13 colonies were trying to achieve in the American Revolution. Books like “The Glorious Cause” serve to help us learn from the past, gain a clearer view of the present, and really understand why our history matters.

moments. After the war, it took a lot to establish a government that worked. The revolution was about cutting strings and many Founding Fathers were terrified of creating a government that would tie people up all over again. I’ve been thinking a lot about the importance of history. At the time of writing, we just observed the 18th anniversary of the 9/11 attacks. Those of

“The Glorious Cause” covers 1763–1789. It doesn’t end with the signing of the Declaration

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