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Bankruptcy Law Network - Real Lawyers, Real Solutions

Covers bankruptcy, chapter 7, chapter 13, credit reports, foreclosures, and asset protection.

http://www.bankruptcylawnetwork.com

Nov 23
#2 What If My Spouse’s Assets Are Separate – Must They Be Disclosed?

#2 What If My Spouse's Assets Are Separate - Must They Be Disclosed? This continues the series "I'm Filing, My Spouse Isn't-What Happens?" The series is introduced here. "Separate property" has a legal meaning, at least in a community property state such as New Mexico where I practice. It is basically property that is owned and controlled [...] Posted on November 23, 2009 at 03:00 am by Gini Nelson, New Mexico Bankruptcy Lawyer
Nov 22
Missouri Unemployment Benefits Protected After Receipt

Unemployment benefits are protected from creditors and bankruptcy trustees in virtually all states. Recently the Missouri state courts emphasized a little-known protection of those assets, even after receipt. In some cases, a payment to a debtor is protected more broadly prior to payment than after. For example, Missouri protects at least 75% of a person's wages [...] Posted on November 22, 2009 at 10:49 pm by Wendell Sherk, Missouri Attorney
Nov 22
Tips To Avoid Business Bankruptcy – Be Nicer To Your Customers Than The Airlines Are To Theirs

If you want to avoid filing for a business bankruptcy, take tips from the airline industry. It seems to me that small businesses everywhere (and also large ones) can learn some lessons about what NOT to do by looking at what most of the major air carriers are doing. Airlines are complaining about profits dropping, [...] Posted on November 22, 2009 at 08:52 pm by Susanne Robicsek, North Carolina Bankruptcy Attorney

Rank This Week: 17

Miami Florida Bankruptcy Law

By Jordan E. Bublick.

http://jbublick.blogspot.com/

Nov 14
Florida Mortgage Foreclosure and Liability

A topic of much concern is liability in a residential mortgage foreclosure in Florida. In the origination of a typical residential mortgage transaction, there are two instruments - the promissory note and the mortgage. The promissory note documents the actual terms of borrowing and the mortgage provides for a lien on the real property to secure the debt of the promissory note. In a typical residential mortgage foreclosure action in this part of Florida, the foreclosure case initially usually... Posted on November 14, 2009 at 07:53 am by Jordan E. Bublick, Bankruptcy Attorney
Oct 2
Senator Reed Introduces Bill to Strengthen Mortgage Modification Efforts

On September 30, 2009, Senator Jack Reed (D-RI) issued a press release that he introduced "Preserving Homes and Communities Act of 2009" (S. 1731) which is a bill to help "keep families in their homes and prevent communities from deteriorating as a result of skyrocketing mortgage defaults." The bill is cosponsored by Senators Dick Durbin (D-IL), Sheldon Whitehouse (D-RI) and Jeff Merkley (D-OR). One aspect of the bill will require that "qualified homeowners are evaluated for and offered loan... Posted on October 2, 2009 at 11:34 am by Jordan E. Bublick, Bankruptcy Attorney
Sep 11
Update on Proposed Bankruptcy Cramdown

At a House subcommittee meeting this week, Congressman Barney Frank stated that if the mortgage servicers do not act to stem the foreclosure crisis by modifying more mortgages, there would be an increased chance that Congress will enact bankruptcy laws allowing certain mortgage modifications. Frank stated that "the best lobbyists we have for getting bankruptcy legislation passed are the servicers who are not doing a very good job of getting mortgages modified." Frank reportedly told the Wall... Posted on September 11, 2009 at 02:25 am by Jordan E. Bublick, Bankruptcy Attorney

Rank This Week: 55

The Florida Asset Protection Blog

Covers bankruptcy planning, creditor rights, fraudulent conveyances, homestead protections and offshore planning. By Jonathan Alper.

http://floridaassetprotection.blogs.com/alperlaw/

Nov 17
This Floridian's Annuity Proceeds May Not Be Creditor Protected

Annuities are exempt in Florida, and so are annuity proceeds. A client consulted with me today regarding assets which include a bank account, in his own name, which account contains $20,000 of annuity proceeds. There is no money in this bank account other than these annuity proceeds. Florida courts have protected annuity proceeds after they have been deposited in the debtor's financial account as long as the money is traceable to an annuity. The annuity proceeds in this debtor's bank account... Posted on November 17, 2009 at 07:38 pm by Jonathan Alper
Nov 15
Builders' Retroactive Tax Refunds Must Be Protected From Current Creditors

I read an article in the N.Y. Time Week in Review section about the government's expansion of tax breaks to home builders. The government is permitting builders to amend tax returns and use losses incurred during the past two years to offset income reported as far back as 2004. The Times characterized this policy as a "gift.". I have had builder clients over the past few months who have told me they expect huge tax rebates coming from the government's retroactive tax loss program. My clients... Posted on November 15, 2009 at 06:17 pm by Jonathan Alper
Nov 15
Builders' Retroactive Tax Refunds Must Be Protected From Current Creditors

I read an article in the N.Y. Time Week in Review section about the government's expansion of tax breaks to home builders. The government is permitting builders to amend tax returns and use losses incurred during the past two years to offset income reported as far back as 2004. The Times characterized this policy as a "gift.". I have had builder clients over the past few months who have told me they expect huge tax rebates coming from the government's retroactive tax loss program. My clients... Posted on November 15, 2009 at 06:17 pm by Jonathan Alper

Rank This Week: 79

Georgia Bankruptcy Law Blog

Resource for Georgia Bankruptcy cases and updates. By Scott B. Riddle.

http://www.georgiabankruptcyblog.com/

Nov 7
Southern District Opinion; Relief From Stay; Single Asset Case

Suntrust Bank v. Global One, L.L.C. (In re Global One, L.L.C), 411 B.R. 524 (Bankr. S.D. Ga. July 21, 2009). SunTrust sought relief from stay on the grounds that the value of the real property ($460,000) was far less than the amount of the secured claim ($548,159). "Debtor described the nature of its business as a "single asset LLC to develop property," admitted it is receiving no income from the operation of the business, and also identified its business as a "single asset real estate"... Posted on November 7, 2009 at 06:00 am
Nov 7
Middle District Opinion: Relief From Stay To Litigate Employment Claims In District Court

In re Coachworks Holdings, Inc., Ch. 11 Case No. 09-51096, 2009 Bankr. LEXIS 3369 (Bankr. M.D. Ga. Oct. 16, 2009). Movant filed a motion for relief to pursue employment claims against the debtor and non-debtor parties. Debtor opposed, contending the claims should be resolved in Bankruptcy Court based primarily on the expense of litigating in District Court. The Court lifted the stay based on judicial economy, the existence of other defendants, and the need for a jury trial against the... Posted on November 7, 2009 at 05:44 am
Nov 4
Chapter 11 Cases Files In October and November 2009

/**/ Foreclosure Day in Georgia was yesterday, November 4, 2009. Below are the Chapter 11 cases filed over the last few weeks. Case No. Related Case Info Ch Party Info Dates Other Info 09-86091-crm 11 Atlanta Rug Gallery, Inc. and Persian Galleries, LLC Filed: 10/04/2009 Entered: 10/04/2009 Office: Atlanta Assets: Yes Fee: Paid County: Fulton 09-86092-crm 11 Persian Galleries, LLC Filed: 10/04/2009 Entered: 10/04/2009 Office: Atlanta Assets: Yes Fee: Paid County: Fulton 09-24216-reb 11 The... Posted on November 4, 2009 at 05:53 am

Rank This Week: 94

New York Bankruptcy Litigation

Covers automatic stays, discharge violations and mortgage issues. By Jay Fleischman.

http://www.newyorkbankruptcylitigation.com

Dec 23
Chase Home Finance, Caught Manufacturing Defaults In Bankruptcy Court, Nears Deal With US Trustee

In a case presenting facts similar to those in In re Schuessler, 386 B.R. 458 (Bankr. S.D. N.Y., April 10, 2008), in which Chase Home Finance was sanctioned for filing an unwarranted motion to lift the stay, Chase has reportedly entered into a proposed stipulation with the U.S. Trustee regarding procedures to be followed in regard to its proofs of claim, motions for relief from stay, and Chapter 13 plan objections in bankruptcy cases in the U.S. Bankruptcy Court for the Southern District of New... Posted on December 23, 2008 at 09:17 pm by Robin Miller, Consumer Bankruptcy Abstracts & Research (CBAR)
Dec 4
Can You Wait For The New Bankruptcy Bill?

&#xc2&#xa9 Seagrave Before Thanksgiving, a new bankruptcy bill was introduced to the Senate. Its purpose is to help homeowners save their homes from foreclosure during bankruptcy. With an increasing number of people facing unpaid bills and debt collection, legislators are taking action. The proposed bill must be discussed, reviewed and revised before it even goes to debate. With a new President, many feel this legislation will be passed as soon as the new year. Those facing debt collection abuse during... Posted on December 4, 2008 at 01:40 am by Jay Fleischman, New York Bankruptcy Lawyer
Nov 8
What Debt Are Not Covered By Bankruptcy?

When you file for bankruptcy, your goal is a discharge of your debts. However, not everything is covered by a bankruptcy discharge. Though you can expect the vast majority of debt to be swept away, there are a few debts that a person is held accountable for after filing for bankruptcy. Debts that will be discharged vary depending on what chapter is applied, Section 523(a) of the Bankruptcy Code provides specific exceptions for certain types of debt. Chapters 7, 11, and 12 have 19 categories of... Posted on November 8, 2008 at 01:00 pm by Jay Fleischman, New York Bankruptcy Lawyer

Rank This Week: 107

theBKblog

Covers Georgia bankruptcy, protected property, Chapter 13, median income test, wrongful foreclosure, fraudulent transfers, divorce and means test. By Jonathan Ginsberg.

http://thebklawyer.com/thebkblog

Nov 21
Christmas Shopping and January Bankruptcy

As we approach the Christmas holiday season, I want to remind my readers of two things. First and foremost, I want to wish all of my clients and blog readers a happy and healthy holiday season. Financial struggles will come and go but if you have your family and your health, not a whole lot of other things matter. Secondly, I would respectfully suggest that it is never too late to begin the process of tackling your financial issues. Over the years I have met with many potential clients in... Posted on November 21, 2009 at 08:16 am by Jonathan
Oct 24
Will a Personal Bankruptcy Affect my Small Business if I am Self Employed?

With a sluggish economy, I have met with an increasing number of small business owners who are considering personal bankruptcy to deal with credit card debt and personal loans, but who want to keep their business assets and credits separate. Is this possible. First, it does make a difference whether the small business is incorporated. If your small business is a proprietorship (i.e. "Tom Smith d/b/a Tom's Lawncare") then there is no way to separate personal assets and debts from business assets... Posted on October 24, 2009 at 12:29 pm by Jonathan
Oct 18
FDCPA Does Not Give Debt Collector the Right to Leave Messages on Your Phone Answering Machine

As you may know, there are both federal and state laws that offer a variety of protections to individuals who are in debt and who are being dunned by debt collectors. The Fair Debt Collection Practices Act offers a variety of protections in cases involving collection agencies (as opposed to the actual creditor). In other words, a credit card company can do and say certain things and remain legal, but if a collection agency does or says the exact same things, those actions would be a violation... Posted on October 18, 2009 at 09:01 am by Jonathan

Rank This Week: 127

Credit Slips

Discusses credit and bankruptcy. By Professors Bob Lawless, Angela Littwin, Katie Porter, John Pottow, Deborah Thorne and Elizabeth Warren.

http://www.creditslips.org/

Nov 18
Son of Pine Gate

As Credit Slips readers may know, a group of key Philadelphia newspapers are currently in chapter 11. The debtor that owns the papers owes its secured lenders north of $290 million. It wants to sell itself under a plan to a group of buyers that include some insiders. The deal will net the lenders $36 million. You'll be shocked to learn the lenders are not fond of the proposed plan. But when the debtor sought approval of bidding procedures that denied the lenders a right to credit bid under... Posted on November 18, 2009 at 05:55 am by Stephen Lubben
Nov 17
Lehman & Barclays

Lehman has sued Barclays over the incredibly rushed sale of Lehman's key brokerage assets to Barclays a year ago. No doubt the financial industry crowd will use this to further promote their argument that chapter 11 does not work for large financial firms, thus supporting the need to reinvent the wheel create a new "resolution authority." This, of course, ignores the degree to which the financial community created the Lehman mess, by both undermining chapter 11 through the reckless expansion of... Posted on November 17, 2009 at 08:31 am by Stephen Lubben
Nov 16
Repeal the Safe Harbors?

Today I'm speaking (along with my co-blogger, Adam) at the ABI's conference on chapter 11 reform at Georgetown. I'll be making the case for the repeal of the derivative safe harbors in the Code -- my paper can be found here. I should point out that I suggest that the repeal should be accompanied by corresponding changes to the Code, like allowing "mark to market" collateral provisions to persist despite the automatic stay, giving the debtor the burden of going to court to stop them if they are... Posted on November 16, 2009 at 02:28 am by Stephen Lubben

Rank This Week: 141

Bankruptcy Litigation Blog

Covers the BAPCPA, bankruptcy, circuit splits, code statutory interpretation, and recent case law developments. By the Coleman Law Firm.

http://www.bankruptcylitigationblog.com/

Sep 23
Voyage of the Damned: The GM Tort Claimants' Opening Appellate Brief -- Brother, Can You Spare a Quarter?

What started out a couple months ago as a "Slow Boat to China," today feels more like the "Voyage of the Damned." Yesterday I filed this "Opening Brief" (plus the Sale Opinion at Appendix A and the Sale Order and MPA at Appendix B) on behalf of my five clients in our appeal of the GM Sale Order: Callan Campbell, et al., v. Motors Liquidation Company, Case No. 09-6818 (NRB) (S.D.N.Y.). The brief's "Summary of the Argument" is at the end of this post. This appeal is the only one pending that... Posted on September 23, 2009 at 11:07 pm
Sep 16
Don't Flub "Stub" Rent: Some Thoughts on Code Section 365(d)(3) from Yitzhak Greenberg

/**/ One of blogging's many benefits is in meeting people I would not have otherwise met. Coming off an extended personal--and blogging--vacation, and with the three-week fall cycle in the Jewish Holidays fast approaching (not to mention my appeal brief in GM due next Wednesday and a chunk of other work), I'm thankful that one of the people I've recently met--Yitzhak Greenberg--has offered to author a guest post for the blog. Yitzhak is associated with the Law Offices of Gabriel Del Virginia in... Posted on September 16, 2009 at 07:23 am
Jul 28
GM Media Roundup: A LexisNexis Podcast and Then Some

Most bloggers report on events; few jump in them. While I lost, I'm not done yet. Here's my statement of issues on appeal. Here's Old GM's counter-designation, filed yesterday. My Chrysler and GM posts over the last three months generated incredible traffic (around 100,000 page views since May 1 from about 50,000 unique sites), while my involvement in the GM case and appeal of the decision led to several media interviews and appearances, including this 20 minute podcast just posted on the... Posted on July 28, 2009 at 03:57 pm

Rank This Week: 142

Ontario Personal Bankruptcy Blog

Answers questions about personal bankruptcy in Ontario, Canada.

http://www.bankruptcy-ontario.org/blog/

Nov 19
Bankruptcy, or another option?

Question: Okay so here's my situation: I have two collection agencies after me (that I now know of) and they call when I'm not home (which is the majority of the time), as I have a temp job during the day . My mom's picked up a couple times and it's a recording and I'm certain it's for the overdraft on my TD account and the other is personal training I financed early in the year. I was unemployed for the month of October so I had no income and it was tight in September, as I owed money to... Posted on November 19, 2009 at 03:39 pm
Nov 17
trustee complaint

Question: I am an in a secured position to received monies that the trustee had in their accounts. They are holding these funds and I would like to know WHEN and how long can he hold these funds. If I feel a trustee is not being above board who can I contact??? Answer: You have three choices. First, you can contact the trustee, in writing, and ask for their position on the matter. It is very unusual that a trustee would be holding funds for a bankrupt, but the starting point would be to get the... Posted on November 17, 2009 at 09:12 am
Nov 13
assets of a deceased bankrupt (discharged)

Question: I am a discharged first-time bankrupt in Ontario. I was curious as to what would happen with my assets upon my death - am I free to assign them to beneficiaries, or will my previous creditors seize them despite a legal will? I don't have an outrageous amount of assets - well below the limits - but there are a few items I wish people to specifically have. Answer: Since you are discharged from bankruptcy, you are free to do whatever you wish with your assets. Even if you died while you... Posted on November 13, 2009 at 04:35 pm

Rank This Week: 150

Total Bankruptcy

Covers bankruptcy courts, credit, and bankruptcy news. By Total Bankruptcy.

http://blog.totalbankruptcy.com/

Nov 19
Middle-Class the New Face of Bankruptcy

The middle class is increasingly resorting to bankruptcy despite college education, home ownership and other historical signs of success, according to a new study. While the middle class's investments in higher education and real estate have typically shielded them from the hardest economic storms, that is no longer the case. "The Vulnerable Middle Class: Bankruptcy and Class Status," a new study by Elizabeth Warren, Harvard Law School Leo Gottlieb professor of law, and Deborah Thorne, Ohio... Posted on November 19, 2009 at 02:20 pm by Chris Kramer
Nov 18
New Bankruptcy Chapter Proposed by Congress

A new amendment to the U.S. bankruptcy code could help troubled financial institutions reorganize their debts more effectively and eliminate the status of "too big to fail" that has prompted government intervention over the past two years. H.R. 3310, introduced by Rep. Spencer Bachus (R-AL), is called the Consumer Protection and Regulatory Enhancement Act, and would create a Chapter 14 bankruptcy under which institutions to file bankruptcy without disrupting the nation's financial stability.... Posted on November 18, 2009 at 10:37 am by Chris Kramer
Nov 17
Florida Residents Join to Keep Island Resort Afloat in Bankruptcy

On Amelia Island, a coastal community off of Florida's Atlantic coast, a group of local investors have joined up to save a prominent resort from going under. Amelia Island Plantation is a 30-year-old destination resort for vacationers and conference-goers. Recently, the resort fell on hard financial times, as many businesses have during the recession. Wages for employees were cut, and other local businesses who depended on resort customers saw their business dwindle. But rather than watch a... Posted on November 17, 2009 at 10:41 am by Chris Kramer

Rank This Week: 288

BankruptcyProf Blog

By Professor M. Jonathan Hayes.

http://lawprofessors.typepad.com/bankruptcyprof_blog/

Nov 18
Financial Lawyers Conference Program with Ken Klee - December 10, 2009

(If it says Ken Klee, It's worth posting and is highly recommended) Financial Lawyers Conference FOR MORE INFORMATION: www.financiallawyers.org "Current Topics in Bankruptcy Litigation: Five Causes of Action, A Theory of Damages, and a Defense" Thursday, December 10, 2009 Ken... Posted on November 18, 2009 at 09:48 am by Bankruptcy Prof
Nov 16
9th Circuit BAP Adds to Debate on Above-Median Chapter 13 Plans, How to Compute Projected Disposable Income

American Express Bank v. Smith (In re Smith), ---- B.R. ----, 2009 WL -------- (9th Cir. BAP Oct, 2009) Issue: When computing the chapter 13 plan payment, can an above-median chapter 13 debtor deduct payments to secured creditors for property... Posted on November 16, 2009 at 09:42 am by Bankruptcy Prof
Nov 15
Ninth Circuit Annual Report 2008

This was completed in August, 2009. I'm a little late in posting it but its kind of a fun read. There is a little article on page 31 about Dennis Montali and one on Judge Richard Medick who died in... Posted on November 15, 2009 at 10:34 am by Bankruptcy Prof

Rank This Week: 317

SC Bankruptcy Blog

Consumer law and bankruptcy information and commentary from South Carolina Sheryl Schelin.

http://scbankruptcyblog.com

Jul 29
HAMP Mortgage Modifications Moving Slowly

The Obama administration's most comprehensive attempt to resolve the foreclosure crisis is the Home Affordable Modification Program, or HAMP, which is available for mortgages owned by Fannie Mae and Freddie Mac, and for certain lenders who have volunteered to participate in the program. (Check out your lender on the web portal www.makinghomeaffordable.gov.) The program aims to reduce mortgage payments to an amount no more than 31% of the homeowner's gross income. (It seems that the government... Posted on July 29, 2009 at 11:55 am by Dana Wilkinson, Attorney at Law
Jun 12
You Renting a House That’s In Foreclosure? Now You Have Some Protection

The Protecting Tenants At Foreclosure Act of 2009 went into effect on May 20, 2009, offering some protection, and at least a little time, for those renters who find themselves drawn into foreclosure despite paying their rent. In short, the act allows such tenants to stay in their rental homes for 90 days following foreclosure, at the very least, and allows some tenants to stay until the end of the lease term. Of course, the act won't protect you if you've not rented at arms length: One... Posted on June 12, 2009 at 07:16 am by Dana Wilkinson, Attorney at Law
May 14
Making Home Affordable Web Portal

Here's a good starting place for the Making Home Affordable programs, the so-called HAMP and HARP mortgage modifications or refinancing, respectivly. Go to the Making Home Affordable web site, and look up your lender to see whether they've signed on to participate, or look up your loan to see if it's a Fannie Mae or Freddie Mac loan. You can also view eligibility requirements and general information about the programs. Posted on May 14, 2009 at 01:35 pm by Dana Wilkinson, Attorney at Law

Rank This Week: 325

Bankruptcy Fraud Resource Center

Covers news, commentary and analysis on bankruptcy fraud. By Wayne D. Holly.

http://bankruptcyfraud.typepad.com/bankruptcy_fraud_resource/

Mar 16
Illinois farmer's wife sentenced to probation following guilty plea

Updating a story we reported here, Margaret Diekemper was sentenced to two years of probation and a $500 fine for her role in a bankruptcy fraud scheme in the Southern District of Illinois following a plea agreement reached with the government last November. Diekemper was also prohibited from any contact with her husband - whose sentencing hearing is scheduled for next month. Federal prosecutors asked U.S. District Judge G. Patrick Murphy to impose a one year term of imprisonment, citing the... Posted on March 16, 2009 at 10:50 pm by Wayne D. Holly
Jan 18
IRS bankruptcy fraud investigation leads to structuring charges

According to this Wisconsin State Journal article, Ismail Beciri was charged in the Western District of Wisconsin with four counts of structuring financial transactions to avoid federal reporting requirements after a federal agents searched his home for evidence of bankruptcy fraud. Beciri filed bankruptcy in November 2007. During the course of a search for evidence of bankruptcy fraud, authorities uncovered evidence that Beciri had cashed approximately 60 checks totalling nearly $450,000 in... Posted on January 18, 2009 at 07:11 am by Wayne D. Holly
Jan 4
Judicial Conference certifies to House bankruptcy fraud basis for judge's impeachment

In a previous post (here) we commented that the Judicial Conference of the United States had certified to the House of Representatives that impeachment proceedings may be warranted against U.S. District Judge G. Thomas Porteus (E.D. La.) and the House Judiciary Committee has formed a task force to investigate the matter. While no new developments have come to light, the certification documents do shed light on the nature of the allegations against Judge Porteus - and they include several... Posted on January 4, 2009 at 04:17 pm by Wayne D. Holly

Rank This Week: 425

California Bankruptcy Lawyer

Covers bankruptcy, consumer debt and finance law with a focus on California law. By Scott Sagaria.

http://www.californiabankruptcylawyerblog.com/

Nov 13
San Jose Bankruptcy Attorney explains why bankruptcy attorneys and potential filers should closely watch an upcoming U.S. Supreme Court case.

San Jose Bankruptcy Attorney explains why bankruptcy attorneys and potential filers should closely watch an upcoming U.S. Supreme Court case. The United States Supreme Court recently heard arguments on a case brought by a bankruptcy trustee from Pennsylvania. At issue is whether a debtor in a Chapter 7 bankruptcy can exempt personal property from seizure to pay her debts by claiming the property is worth exactly the amount exempt under law, regardless of its true value. The trustee, William... Posted on November 13, 2009 at 12:12 pm by Scott Sagaria
Nov 11
San Jose Bankruptcy Attorney explains why filing for Chapter 13 bankruptcy protection should not affect your tax return.

San Jose Bankruptcy Attorney explains why filing for Chapter 13 bankruptcy protection should not affect your tax return. Questions regarding bankruptcy and taxes are quite common. Filing for Chapter 13 bankruptcy should have a minimal effect on your personal tax situation. Unless your tax advisor, San Jose bankruptcy attorney or the bankruptcy trustee instruct you otherwise, you should continue to file the same returns as you have in previous years. It is a requirement of the bankruptcy law... Posted on November 11, 2009 at 11:19 am by Scott Sagaria
Nov 9
San Jose Bankruptcy Attorney comments on the post-bankruptcy turnaround of former television star Willie Aames.

San Jose Bankruptcy Attorney comments on the post-bankruptcy turnaround of former television star Willie Aames. Willie Aames, star of "Eight is Enough" and "Charles in Charge" recently held a yard sale to sell off his belongings following a Chapter 7 bankruptcy, divorce and violent suicide attempt. Aames has filed for bankruptcy protection twice since 1997 and his wife left him after his most recent bankruptcy filing. Aames is currently undergoing a life transformation and is studying to become... Posted on November 9, 2009 at 09:12 am by Scott Sagaria

Rank This Week: 436

Legal Tips & Commentary

Provides legal tips for businesses and consumers in California. By Carl H. Starrett.

http://www.chs-law.com/blogger.html

Nov 17
Beware of Phony Payday Loan Debt Collectors

In August 2009, the Better Business Bureau issued a nationwide alert warning consumers about phony debt collectors threatening to arrest them for not repaying a payday loan. I decided to investigate a little further after the daughter of a bankruptcy client called after receiving one of these phone calls. The phony debt collector called my client's daughter from the following phone number: (323) 332-1091. The person answering the phone sounded like he was from an overseas call center and... Posted on November 17, 2009 at 04:51 am by Carl Starrett
Oct 21
Paychecks for California Employees Shrinking For The Rest of 2009

Paychex, a nationally known payroll service provider, is reporting that California employers must increase withholding for state taxes as a result of the recently passed California state budget. The new withholding tables become effective on November 1, 2009. The new withholding tables are designed to accelerate withholding for the remainder of 2009 by requiring employers to increase the amount of state income tax withheld from employee paychecks by 10%. The new tables will be in effect from... Posted on October 21, 2009 at 08:00 am by Carl Starrett
Oct 14
California Increases Homestead Exemptions Limits for Debtors

Homestead exemption laws protect the amount of equity that a homeowner can shield from judgment creditors or from creditors while in bankruptcy. Beginning on January 1, 2010, the limits on homestead exemptions in California will increase by as much as 50% for some homeowners. Under current law, the base homestead exemption to protect home equity from judgment creditors will increase from $50,000 to $75,000. A $75,000 exemption for certain family units will increase to $100,000. A $150,000... Posted on October 14, 2009 at 07:02 am by Carl Starrett

Rank This Week: 493

On the Bankruptcy Soapbox

By Cathy Moran.

http://www.moranlaw.net/blog

May 12
Student loans ensnare parents

Should you guarantee a student loan, asks my good friend Doug Jacobs. His is the cool, reasoned analysis. I want to jump up and down and say DON"T DO IT. It pains me to say that. My undergraduate education was funded in part with modest student loans. I believe education is the key to much that is personally positive and societally important. I applaud the public policy that is willing to make college more widely affordable. Student loans have taken on a malevolent quality over the past years.... Posted on May 12, 2009 at 06:54 am by Administrator
May 5
What if you choose an alternative to bankruptcy

I've continued to think about my response to David Leibowitz's discussion of getting out of debt without bankruptcy. My first response focused on the choices inherent in paying off creditors outside of bankruptcy. I forgot to point out the efficacy issue: if you try to pay off your debts via settlement, it takes only one or two big creditors who won't settle on tolerable terms to undermine the entire effort to repay creditors. If you can't get a big creditor to join the rest in compromise, you... Posted on May 5, 2009 at 08:56 pm by Administrator
Apr 26
Should you pay your creditors rather than file bankruptcy?

My clients often ask if there is an alternative to bankruptcy. David Leibowitz, my colleague at Bankruptcy Law Network, outlined what it takes to get out of debt without bankruptcy. The simple answer is make more money; spend less on today's expenses; use all your savings to pay off debt. I want to pose the question: even if that's possible, is it smart? What do you forgo in that scenario? If it's travel; lattes; and premium cable, I'm OK with that. But, if what you do without is emergency... Posted on April 26, 2009 at 10:58 am by Administrator

Rank This Week: 553

Bankruptcy Case Law

Features bankruptcy opinions from around the country. By Rachel Lynn Foley.

http://bankruptcycaselaw.blogspot.com/

Mar 1
In re Booker, Case No. 08-42466

Court grants motion to dismiss pursuant to &#xc2&#xa7 707(b)(3) based on totality of the circumstances of Debtors' financial situation and bad faith. Court discusses standards applicable and the factors to consider under each of the two subparagraphs of &#xc2&#xa7 707(b)(3). Court may consider Debtors' ability to pay which can be determinative and is principal if not exclusive factor for determining dismissal under totality of circumstances. Court may consider Social Security income in determining ability to... Posted on March 1, 2009 at 05:00 pm by Rachel Lynn Foley
Mar 1
In re Duvall, Case No. 08-20466

Court found that the state court judgment, which was a default judgment rendered as a sanction for debtor's failure to comply with discovery orders, was a judgment on the merits and, therefore, the doctrine of collateral estoppel was appropriate to prevent debtor from challenging the findings made in the state court judgment, and summary judgment was granted on this point. Court found that the findings made in the state court judgment did not determine the question of whether debtor's conduct... Posted on March 1, 2009 at 04:57 pm by Rachel Lynn Foley
Feb 21
CO General Insurance Company, et al. v. Ajene Edo No. 06-100

Two questions are presented: 1. Whether the Ninth Circuit's construction of "willfully" under section 1681n of FCRA impermissibly permits a finding of willfulness to be based upon nothing more than negligence, gross negligence, or a completely good-faith but incorrect interpretation of the law, and upon conduct that is objectively reasonable as a matter of law, rather than requiring proof of a defendant's knowledge that its conduct violated FCRA or, at a minimum, recklessness in its subjective... Posted on February 21, 2009 at 12:32 pm by Rachel Lynn Foley

Rank This Week: 561

Colorado Bankruptcy Blawg

Covers debt relief for Colorado consumers and businesses under Chapters 7 and 13 of the Bankruptcy Code. By Robin Kert Hunt.

http://web.mac.com/coloatty/iWeb/bkr/blawg/blawg.html

May 28
An open response to a non-client’s query about turn over of the economic stimulus payment in bankruptcy

In response to my blogs about the economic stimulus payment, another attorney's client asked me for more information. To avoid ethical concerns, I am using this blog entry to develop further and more practically my thoughts. The economic stimulus payment question is a frequently discussed topic among Colorado bankruptcy attorneys. As far as I know, the disposition of the economic stimulus payment in a Colorado bankruptcy case is still an unsettled issue at this time - although the trustees seem... Posted on May 28, 2008 at 07:40 am
May 14
Case Law Update, Bankruptcy Subsection, Colorado Bar Association

A PDF of the handout from today's Case Law Updates CLE for the Bankruptcy Subsection of the Colorado Bar Association is available for download. Click here to link to the Downloads page. The materials were presented by the Honorable Michael E. Romero, United States Bankruptcy Judge, and David M. Miller, Esq., Kutner Miller Brinen, P.C. The next Bankruptcy Subsection meeting is 4:30 p.m., Wednesday, July 9, 2008, at the Colorado Bar Association, 1900 Grant Street, 9th Floor, Denver, Colorado. The... Posted on May 14, 2008 at 09:22 pm
May 7
Twin Lakes Real Estate, LLC: the scope of subject matter jurisdiction in bankruptcy

In re Twin Lakes Real Estate, LLC, BAP No. UT-07-055 (May 6, 2007). On appeal, the Tenth Circuit Bankruptcy Appellate Panel reviews a bankruptcy court's dismissal of a tax lien avoidance action concerning real property brought by trust beneficiaries in the "nominee" owner's bankruptcy case. The 10th Cir. BAP affirms the bankruptcy court's dismissal based on a lack of subject matter jurisdiction. This twelve-page decision begins with a brief analysis of the rule of finality as the basis for the... Posted on May 7, 2008 at 09:54 pm

Rank This Week: 692

Birmingham Bankruptcy Blog

Covers bankruptcy and consumer law issues in Birmingham and Alabama. By Matthew A. Dunaway.

http://birminghambankruptcyblog.com/

Nov 18
Unemployment numbers and the “Geography of Recession”

Worried about unemployment? Wondering how much unemployment has increased in the last 3 years? Has it effected you? Bill Nolan of Nolan Elder Law sent me the link to this interesting multimedia view of the rising unemployment rate...very interesting. Thanks, Bill! With unemployment rising, and likely will continue to rise, many people continue to face difficult [...] Related posts: Alabama Foreclosures and Mortgage Delinquencies Still Rising Foreclosures and Mortgage Delinquencies continue to... Posted on November 18, 2009 at 09:07 am by Matt Dunaway
Sep 30
Alabama Foreclosures and Mortgage Delinquencies Still Rising

Foreclosures and Mortgage Delinquencies continue to rise despite government officials pressuring lenders to forestall foreclosure proceedings. After several months of pressure from Washington, mortgage lenders have begun revving up foreclosure proceedings. What started, over a year ago, as a sub-prime only mortgage meltdown, has evolved into a full blown, across the board pandemic of mortgage delinquencies [...] Related posts: Mortgage Delinquencies Increase Signaling Continued Rise in... Posted on September 30, 2009 at 01:39 pm by Matt Dunaway
Sep 28
Alabama Bankruptcy Judge allows lower interest rate

In re Crittenden: An Alabama Bankruptcy Judge, in In re Briana L. Crittenden, 19 CBN 1049In re Crittenden (Bankr. M.D. Ala. 2009), overruled an auto creditor's objection to the debtor's Chapter 13 plan, allowing a lowering of the interest rate. Debtor purchased a vehicle from the creditor five weeks prior to filing a Chapter 13 [...] Posted on September 28, 2009 at 12:45 pm by Matt Dunaway

Rank This Week: 726

Bankruptcy Lawyers Blog

Covers bankruptcy fiilng, bankruptcy means test, student loans, credit counseling, and debtor education. By Kevin Chern.

http://blog.startfreshtoday.com/

Jun 9
U.S. Supreme Court to Hear Challenge to BAPCPA

Challenges to the application of certain provisions of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act began the very day the law took effect. One of the first to bring suit to have the law declared unconstitutional was the... Posted on June 9, 2009 at 09:45 am
Mar 12
Make Your Voice Heard on Mortgage Modification

Last week, the mortgage modification provision passed the U.S. House of Representatives--but it may not come to a Senate vote. The banking industry is making its voice heard loud and clear (courtesy of the same folks who brought us BAPCPA),... Posted on March 12, 2009 at 12:34 pm
Mar 4
House May Vote on Mortgage Modification Bill This Week

H.R. 1106, which would authorize judicial modification of mortgage loans, may go to a vote in the House of Representatives as early as tomorrow. The future of the bill is uncertain, with solid Republican opposition and a full-court press from... Posted on March 4, 2009 at 09:20 am

Rank This Week: 767

Bankruptcy America

Provides information on personal bankruptcy.

http://www.bankruptcy-america.com/

Nov 27
Married; One spouse filing

I am married but am considering filing bankruptcy. How does this work if I plan on just filing for myself but we have joint debt on our home and farm.I have credit card, doctor bills, and some other personal loans only in my name that I want to eliminate through Chapter 7 bankruptcy if possible.Just curious on how this will affect my husbands' standpoint and our home/farm? Posted on November 27, 2006 at 03:11 am
Nov 26
Chapter 13 repayment to creditors

I understand that with Chapter 13 mutal payment arrangements are set up with the court and the creditors that you owe. My question is this, I am in danger of having my home foreclosed on because I can no longer maintain the payment. I have considered Ch 13, however are the payment arrangements made accomindating to my financial limitations, since I current can't afford to pay my mortage? Posted on November 26, 2006 at 02:44 pm
Nov 21
Chapter 13 & rental property

we just received a letter from the United states Bankruptcy court for the district of Colorado. The debtor has filed a Chapter 13 Plan; a hearing has been set for Feb 12, 2007. The person filing is renting our house and has a lease agreement. Is she obligated to pay the rent on the regular due date until the hearing has been completed? If so, what if she does not pay rent? Do we have legal recourse to terminate the lease agreement? I assume we will need to attend the hearing to find out the... Posted on November 21, 2006 at 11:18 am

Rank This Week: 870

Massachusetts Bankruptcy Blog

Covers consumer bankruptcy and debtor issues. By Goldstein and Clegg LLC.

http://www.goldsteinandclegglaw.com/bankruptcy_blog

Nov 19
How the HAMP loan modifications effect your credit score

This post discusses (1) how they are being reported, (2) how they should be reported, (3) what you can do to get your HAMP-modified mortgage reported correctly, and (4) possible effects even the "correct" reporting might have on your credit score. How HAMP-modified loans are being reported now Many servicers are reporting the modified mortgages to the credit bureaus as a "rolling 30-day late" while the modification is in its trial period. (The "trial period" is generally a three month period... Posted on November 19, 2009 at 03:39 pm by info
Nov 8
Banks’s must Produce the Note to foreclose

I recently came across a great article drafted by a former paralegal of our firm, Rick D. Misitano regarding foreclosure defense. Below are the pertinent parts of that article. When a lender can't produce the original note, allowing a foreclosure to proceed puts the homeowner at risk of owing that debt again to another party in the future. So, what happens when the lender tells the Court it can't produce the original note, because it is lost? Let's start with the basics. If a lender wants to... Posted on November 8, 2009 at 05:25 am by info
Nov 5
How to Remove a Judgment Lien from your property

Many homeowners have found themselves in the position of owing money on a debt which they simply can not pay back, or have been sued by someone and failed to respond to the law suit. When this happens, the Plaintiff often will attempt to collect on their judgment by putting a lien on the homeowner's property. Many of my bankruptcy client's have come to me with just such a situation. This becomes an issue after a consumer's unsecured debts have been discharged in bankruptcy. The reason is... Posted on November 5, 2009 at 12:47 pm by info

Rank This Week: 904

IN THE (RED) - The Business...

IN THE (RED) - The Business Bankruptcy Blog

Covers business bankruptcy issues and developments. From Cooley Godward Kronish LLP's Bob Eisenbach.

http://bankruptcy.cooley.com/

Nov 10
Second Circuit Decides Whether Unsecured Creditors Can Recover Post-Petition Attorney's Fees

On November 5, 2009, the U.S. Court of Appeals for the Second Circuit became the second court of appeals to answer the question left open in the U.S. Supreme Court's March 2007 decision in Travelers Casualty & Surety Co. of America v. Pacific Gas & Electric Co., 549 U.S. 443 (2007): Can unsecured creditors recover post-petition attorney's fees as part of their unsecured claims? For more on the Travelers decision, follow the link to this earlier post. The Ninth Circuit's Earlier SNTL... Posted on November 10, 2009 at 08:57 am
Nov 2
A Matter Of Time: Important Amendments To The Bankruptcy Rules Are Coming December 1st

Nearly every year, changes are made to the set of rules that govern how bankruptcy cases are managed -- the Federal Rules of Bankruptcy Procedure. Normally, the changes address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. This year, the amendments to the national bankruptcy rules are mainly the result of statutory changes enacted by Congress. The new amendments will take effect on December 1, 2009. Timing Changes Across The Board. For... Posted on November 2, 2009 at 08:45 am
Sep 21
Major Amendments To The CCAA, Canada's Reorganization Law, Are Now In Force

In a post last year entitled "North Of The Border: Reorganization Under Canada's Companies' Creditors Arrangement Act," I discussed the various types of bankruptcy and insolvency proceedings available under Canadian law. Included in the discussion was the Companies' Creditors Arrangement Act, known as the CCAA, used by many Canadian companies to reorganize. At that time, although significant amendments had been enacted to the CCAA and other Canadian bankruptcy laws, those amendments had not... Posted on September 21, 2009 at 11:46 pm

Rank This Week: 913

Bankruptcy and Restructuring Blog

Offers up-to-date information on bankruptcy, reorganization and creditors' rights. By Sheppard Mullin.

http://www.bankruptcylawblog.com/

Oct 16
The Bankruptcy Files: Haute Couture Edition

To read this article on bankruptcies in the fashion industry published by American Lawyer, please click here, or visit the AmLaw Daily website. Posted on October 16, 2009 at 10:41 am
Sep 10
Bankruptcy Court Allows General Growth's "Bankruptcy-Remote"

In a decision made on August 11, 2009, the U.S. Bankruptcy Court for the Southern District of New York allowed solvent, special purpose entity subsidiaries of a bankrupt parent company, General Growth Properties, Inc., to maintain their Chapter 11 bankruptcy cases, raising several important issues related to the use of special purpose entities structured to be "bankruptcy-remote." GGP Business Model and 2009 Bankruptcy Filings General Growth Properties, Inc. (GGP) is the ultimate parent company... Posted on September 10, 2009 at 06:24 am
Aug 14
New FCA Rules Put Lenders and Brokers Directly in Their Gun Sights

The author is a member of the Firm's Government Contracts & Regulated Industries Practice Group. For additional articles and postings concerning this and related topics, please refer to Sheppard Mullin's Government Contracts Blog, which can be found at www.governmentcontractslawblog.com. I. INTRODUCTION Without a doubt, the False Claims Act ("FCA") has been dramatically changed in the last few months. As will be discussed in more detail herein, it certainly appears that the FCA has been... Posted on August 14, 2009 at 06:14 am

Rank This Week: 1056

Nolo's Bankruptcy Blog

Nolo’s Bankruptcy Blog

Covers bankruptcy reform, foreclosure, forms and more. By Nolo.

http://blogs.nolo.com/bankruptcy

Aug 31
The Foreclosure Survival Guide: Read it Online for Free!

If you're one of the more than 1.5 million U.S. families that may face foreclosure this year, you need information you can trust and use -- now. That's why Nolo has built a website where you can read and browse the entirety of my book, The Foreclosure Survival Guide, for free. Don't waste time or money on dead-end solutions to your pending foreclosure. Take a look: http://www.nololawlibrary.com/foreclosure. Posted on August 31, 2009 at 01:15 pm
Jul 16
Beware of Commercial Mortgage Modification Services

Nothing gets my blood boiling faster than when I see struggling homeowners pay thousands of dollars to hire someone to represent them in a mortgage modification negotiation. My advice is always the same: attempt to hook up with a non-profit HUD-approved housing counselor and dump the commercial service. I also suggest they demand their money back and consider reporting the service to their state's attorney general and the Federal Trade Commission since these services are increasingly illegal.... Posted on July 16, 2009 at 07:14 pm
Jun 8
Linking Healthcare Costs to Bankruptcy -- More Spin Than Truth?

A recent Harvard law school study indicates that healthcare costs are "behind" roughly 60% of bankruptcy filings. My personal experience gleaned from counseling close to 1,500 bankruptcy debtors since 2005 would suggest a much lower figure, at least under the commonly accepted definition of "behind," but I'm not from Harvard. To paraphrase the famous line from Wayne's World, "I'm not worthy." But aside from that, as with all such studies, statistics can be reported in any number of creative... Posted on June 8, 2009 at 08:26 am

Rank This Week: 1070

Property of the Estate

Focuses on developments in plaintiff-oriented bankruptcy litigation.

http://www.propertyoftheestate.com/

Jan 28
Value Billing For The Bankruptcy Professional?

Bloomberg has a story about $18.50 per minute legal services in some of the larger bankruptcies currently on file. For those as bad at math as me, that is over $1000 an hour. Nice work if you can get it. The story does point out that there is an avenue to object to unreasonable or unnecessary fees in the bankruptcy court and that it remains to be seen if these high fees are going to ultimately be paid at this point. We'll see. But that leads me to an interesting question: does anyone have any... Posted on January 28, 2009 at 01:24 pm
Jan 27
2009: Time to get Blogging (and Tweeting?)

Jeez. It's 2009 already. Time to get moving on blogging for the bankruptcy litigation folks out there. I suspect there will be plenty to keep us all busy this year (and the coming years, sadly). Check back for more updates in the coming days and weeks. One of the reasons for my delay in blogging this year, besides the all too often heard excuses of work/family life and the intervening holiday schedules, is my recent fascination with Twitter. I tried Twitter last year on a lark and never really... Posted on January 27, 2009 at 02:30 pm
Sep 18
Auditor Negligence Exception to In Pari Delicto

On September 9, 2008, the United States Court of Appeals for the Third Circuit issued an opinion in Thabault v. Chait & PriceWaterhouseCoopers, LLP, 2008 U.S. App. LEXIS 19227. The opinion is an interesting read for a number of reasons, but I want to focus on only one portion of the Court's ruling in this entry. Specifically, the Third Circuit appears to have crafted a specific "auditor negligence exception" to the doctrines of imputation and in pari delicto. In Thabault, the Receiver for... Posted on September 18, 2008 at 04:36 pm

Rank This Week: 1125

BankruptcyHQ.com Blog

Covers bankruptcy and debt collection.

http://bankruptcyhq.com/blog

May 13
The Cosigner Stay: How Filing a Chapter 13 can also Protect the Cosigners on your House, Cars and Other Debts

One of the many invaluable benefits of filing a Chapter 13 bankruptcy is what's referred to commonly as the "Cosigner Stay". From my experience, not many of my Chapter 13 clients realize when their case is filed that the cosigners on many of their debts are also protected from creditor collection. Chapter 13 federal bankruptcy law protects individual cosignors on consumer debts where applicable. So, in the common situation where you have a cosigner on your mortgage, car payment, credit card,... Posted on May 13, 2008 at 08:59 am by apartridge
Apr 17
850,912 Bankruptcies and Counting…

850,912 - That's the number of personal and business bankruptcy filings in 2007. When put in context of a nation of 300 million people operating thousands of businesses, that might not seem like a large number. But, when measured versus 2006, that is a 38% increase. I find this very interesting because wasn't it not too long ago that the Feds enacted some bankruptcy reform legislation which was intended to stem the tidal wave of mainly personal bankruptcy filings in the USA? We've heard this... Posted on April 17, 2008 at 03:17 pm by rwaple
Jan 29
Bankruptcy and Income Tax Refunds

Tax refunds are generally considered to be assets and can be taken by the bankruptcy trustee and distributed to your creditors. However, in many States it is possible to exempt all or a portion of the refund and protect it from your creditors. The Earned Income Credit portion of your refund can also be completely exempted in some States. Another strategy often to protect your income tax refund is to "spend-down" your refund on necessities prior to the filing of the bankruptcy. Since the money... Posted on January 29, 2008 at 11:13 am by rwaple

Rank This Week: 1151

ABI's BAPCPA Blog

Covers the implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) as its provisions are interpreted and applied by the courts. By Kyzyak Tropin & Throckmorton.

http://bapcpa.blogspot.com

Oct 23
Appeal of "Debt Relief Agency" Decision Dismissed for Lack of Standing

Within hours after the main provisions of BAPCPA became effective on October 17, 2005, a Bankruptcy Court in Georgia issued a sua sponte order entitled "In re Attorneys at Law and Debt Relief Agencies" which determined that attorneys are not included in the definition of "debt relief agency," and accordingly not subject to the obligations imposed on such entities under 11 U.S.C. 526. See "Georgia Judge Says Attorneys Not 'Debt Relief Agencies'". The United States Trustee took an appeal of Judge... Posted on October 23, 2006 at 06:45 am by David Rosendorf
Oct 12
Catching Up on BAPCPA Decisions

A slow recovery from summer vacation has caused BAPCPA Blog to fall behind on our mission in keeping track of decisions interpreting the BAPCPA amendments. In the interest of getting current, we will be starting a new program: on a weekly basis, we'll post summaries of the new decisions issued that week. Then, as time permits, we'll continue to do lengthier postings analyzing which cases may break new ground, and how they fit into the existing bankruptcy and general jurisprudence. So for this... Posted on October 12, 2006 at 03:15 pm by David Rosendorf
Aug 18
Another Partial Blow to Constitutionality of BAPCPA "Debt Relief Agency" Rules

Another court has joined the fray in addressing the constitutionality of the BAPCPA provisions regulating "debt relief agencies." In Olsen v. Gonzales, Case No. 05-6365-HO (D. Or. 8/11/06), an Oregon District Court has held unconstitutional the provisions prohibiting certain advice, but otherwise upheld several other provisions. This follows two other recent decisions, Hersh v. U.S., 2006 WL 2088270 (N.D. Tex. 7/26/06) which held the same provision unconstitutional (as discussed in here in... Posted on August 18, 2006 at 02:30 pm by David Rosendorf

Rank This Week: 1199

Florida Bankruptcy Lawyer Blog

Covers bankruptcy crimes, consumer protection, credit card report errors, debt collection law, foreclosure defense, and fraud alerts. By Florida bankruptcy lawyers, The Dellutri Law Group.

http://www.floridabankruptcylawyerblog.com/

Oct 15
Dellutri Law Group Attorneys On Fox 4 Rising

Yesterday morning Attorney Carmen Dellutri and David Lampley were on Fox 4 Rising discussing the Dellutri Law Group's Mortgage Modification workshop, held at Florida Rural Legal Services in Fort Myers. For more information on when and where this workshop is held, please visit Fox 4 Rising, or contact out office at 239-939-0900 Ext. 237. Posted on October 15, 2009 at 07:27 am by Carmen Dellutri
Sep 29
Dellutri Law Group To Start A Fair Credit Reporting Act Blog

The Dellutri Law Group is getting ready to start a New Blog focusing on the Federal Fair Credit Reporting Act. Our Fair Credit Reporting Act Blog can be found at: www.faircreditreportingactblog.com Please check it out and tell us what you think? It should be active in 7 to 10 days. The Fair Credit Reporting Act Blog will focus on all aspects of Credit Reporting. This post was submitted by Carmen Dellutri, Esq., founder of The Dellutri Law Group, P.A. Currently, the firm has offices in Port... Posted on September 29, 2009 at 05:26 am by Carmen Dellutri
Aug 22
Bankruptcy Exemptions In Florida Part 1 - Homestead

When you file for bankruptcy, a bankruptcy estate is created (11 U.S.C. 541). Individuals are allowed to protect items of personal property, cars and equity in real estate from their creditors. The process is called claiming an exemption or exemption planning. When an item is claimed as exempt, the property is theoretically removed from the bankruptcy estate and is no longer available to pay the claims of creditors. If you are a Florida resident or have lived here for at least two years prior... Posted on August 22, 2009 at 08:39 am by Carmen Dellutri

Rank This Week: 1220

Insolvency Blog

Covers insolvency and corporat restructuring in the UK, Europe, cross-border and beyond. By Mercer & Hole.

http://insolvency.mercerhole.co.uk/

Nov 5
New Insolvency Rules

Modernisation and consolidation are the focus of The Insolvency (Amendment) (No. 3) Rules 2009, which are published in draft form by the Insolvency Service and are due to come into force on 6 April 2010. Fortunately they are accompanied by... Posted on November 5, 2009 at 12:35 pm
Nov 3
HMRC fast track time to pay scheme

The HMRC Business Payment Support Service is responsible for running the Time to Pay Scheme to assist businesses with temporary cash flow difficulties. Posted on November 3, 2009 at 02:18 am
Nov 3
HMRC fast track Time oo Pay Scheme

The HMRC Business Payment Support Service is responsible for running the Time to Pay Scheme to assist businesses with temporary cash flow difficulties. Posted on November 3, 2009 at 02:18 am

Rank This Week: 1244

Covers governance in higher education and in law firms, bankruptcy ethics, popular culture and the law, Enron and other corporate fiascos, and professional responsibility generally. By Nancy Rapoport, a law professor at UNLV's Boyd School of Law.

http://nancyrapoport.blogspot.com/

Nov 19
Continental Airlines sees box, refuses to think in or out of it.

I am sitting on a "weather-delayed" (or could it be the delay caused by the massive computer glitch, here?) flight from Austin to Houston IAH, hoping to get there in time to board my flight from Houston to New Orleans. I need to be in New Orleans TONIGHT, because I'm testifying in a court case tomorrow morning. When I called Continental to see what it could do if I missed my connection, the customer agent (yes, I've omitted the word "service"--intentionally) told me that all other flights were... Posted on November 19, 2009 at 08:38 am by Nancy Rapoport
Nov 18
Law students, grammar, and the practice of law

I'm hearing through the grapevine that some of my law students were unhappy with the grades that they received on their group papers this semester. I told them to find a movie with legal ethics issues and write about those issues. (Sneaky way to reinforce what they're learning, eh?) The good news: for the most part, they did good work analyzing the ethics issues in the movies. The bad news: most of them made proofreading and grammatical mistakes. The statistics: because virtually every group... Posted on November 18, 2009 at 10:27 pm by Nancy Rapoport
Nov 17
Well, duh....

The SuperLawyers law school rankings are out (see here for a leak of the results). As I predicted (here), older and bigger schools did well; younger and smaller schools (except for Yale, which counts as "older") did poorly. I had emailed SuperLawyers to find out if its methodology was going to factor age and size of school into account. The folks there were very nice, but noncommittal--and you can see for yourself that the results show what I'd predicted. Speaking of nice, I had occasion to... Posted on November 17, 2009 at 01:21 am by Nancy Rapoport

Rank This Week: 1276

StayViolation.Com

Covers the automatic stay in bankruptcy proceedings. By Chuck Newton.

http://www.stayviolation.com/

Oct 28
(Video) Regular People Harmed By Econominic Meltdown Protest At The American Bankers Association Convention

Posted on October 28, 2009 at 05:16 am by chucknewton
Oct 16
Foreclosures In The Third Quarter Topped The Record

While Wall Street might be recovering it is clear that Main Street is not. That is not an unusual disconnect, but it does represent a reason for a spike in bankruptcy filings. According to CNN and other sources, despite government and lender efforts to halt foreclosures, in the third quarter of this year 937,840 homes received a foreclosure letter, whether a default notice, auction notice or bank repossession notice. This according to RealtyTrac. This means that 1 in every 136 homes in the... Posted on October 16, 2009 at 01:51 pm by chucknewton
Oct 9
(Videos) The YouTube Debtors Revolt Is Winning Some Victories

As to the YouTube based Debtors Revolt, you have to believe that consumers have at least found a new way of making their plight heard by the powers that be at these large financial institutions. And, there are signs that, at least in limited circumstances, that the tactic is working. Now as reported by HuffPo, Bank of America has cut another deal with a YouTuber that its call center and lack of concern had previously ignored. It is strange that the bank staff cannot feel compelled to listen to... Posted on October 9, 2009 at 03:29 pm by chucknewton

Rank This Week: 1297

California Business Bankruptcy...

California Business Bankruptcy Blog

Covers bankruptcy and restructuring issues concerning businesses and family farms in California. By Klein, DeNatale, Goldner, Cooper, Rosenlieb & Kimball, LLP.

http://www.californiabusinessbankruptcyblog.com/

Jul 15
Agriprocessors: From Immigration Raid to Liquidation of Assets

While the state of the economy has forced a number of firms into bankruptcy, the collateral damage from a government raid can be just as devastating to the financial health of a business. You may remember the immigration raid of the Agriprocessors slaughterhouse in Potsville, Iowa, on May 12, 2008, which lead to the arrests of its owners. Agriprocessors soon after entered Chapter 11 bankruptcy on November 5, 2008. Now, as discussed on the Agri News web site, there is a bid by unknown... Posted on July 15, 2009 at 10:44 am
Jul 15
GM Exits Bankruptcy in 42 Days? Really?

With all of the newspapers and the internet proclaiming that General Motors is exiting bankruptcy after a mere 40 days in bankruptcy, some people have asked how that can happen when all of the bankruptcies that most of us have been involved in or observed have lasted a year or more. The answer is you can't always believe what you read. At about the time of the bankruptcy filing, a new entity was created, called "Vehicle Acquisition Holdings, LLC." That entity then went into bankruptcy court,... Posted on July 15, 2009 at 10:34 am
Jul 10
GM Emerges from Chapter 11, But Has Some Work To Do

It has been nearly two months since my last post and a lot has happened in the bankruptcy world. Personally, I have been up to my eyeballs in work, primarily with an unprecedented increase in Chapter 11 filings. The partners cannot remember a time when the firm has handled so many Chapter 11 cases simultaneously. The good news is that, although filings are up, a good portion of these filings are ending with a reorganized debtor rather than a conversion to Chapter 7. Speaking of reorganization,... Posted on July 10, 2009 at 10:49 am

Rank This Week: 1528

Alabama Bankruptcy Blog

Covers Chapter 7 and Chapter 13 bankruptcy in Alabama, along with debt management and budgeting help. By Richard L. Collins.

http://www.alabamabankruptcyblog.com/

Mar 20
I have seen and heard lots of advertising by companies saying they can settle my debts for very little and help me avoid filing bankruptcy. Does this work?

Unfortunately, debt settlement falls under the "if it sounds too good to be true, it is" category. While I am sure there may be a few success stories from people using these companies, I have yet to personally hear of one. Instead I have heard many complaints from clients who have wasted thousands of dollars on these "settlement" plans before having to turn to bankruptcy because of lawsuits and garnishments. The Wall Street Journal has a good article on this subject - Debt-Relief Firms Attract... Posted on March 20, 2009 at 09:45 am by Richard L. Collins
Mar 15
Credit Card Company Dirty Tricks

I have had numerous clients recently whose financial lives have been thrown into chaos because of "dirty tricks" by credit card companies. These bad acts by the card companies include lowering the credit limit of the card to right at or below the current balance of the card and/or significantly increasing the interest rate (sometimes more than doubling it) and thereby the minimum payment on the card. What is shocking is that this is often done without prior notice to the cardholder and without... Posted on March 15, 2009 at 01:45 pm by Richard L. Collins
Mar 11
New Book: The Alabama Bankruptcy Book

I have redone my book. It is now The Alabama Bankruptcy Book. It still has the Bankruptcy Myths from the prior book, but now has about 20 more pages with Answers to Common Bankruptcy Questions. The best part is that is FREE to Alabama residents with no strings attached. Now you can get the info you need to see if bankruptcy will work for you without having to see a lawyer first. If you would like a copy of the book, click on the Contact Me link on the top left side of this page. No one will... Posted on March 11, 2009 at 01:31 pm by Richard L. Collins

Rank This Week: 1540

Muncie Lawyer Blog

Muncie Lawyer Blog covers law topics such as Criminal Defense, Personal Injury, DUI Defense, Bankruptcy, and Products Liability. Published by Muncie, Indiana lawyer, B. Joseph Davis.

http://www.muncielawyerblog.com/

May 15
Medical “Mistakes” Harm 1 in 15 Children

You may have heard the recent news about the complications suffered by actor Dennis Quaid's newborn twins after they were given massive doses of the blood thinner Heparin&#xc2&#xae by accident. Well, now, a scientific study conducted by the National Initiative for Children's Healthcare Quality confirmed that nearly 1 in every 15 children hospitalized are given either the wrong medications, someone else's medications or are accidentally overdosed - all to suffer some bad adverse drug reaction. Posted on May 15, 2008 at 06:34 am
Nov 24
Rise in Foreclosure Rates May Impact Bankruptcy Filings

The President of the Federal Reserve Bank President said Monday he expects the U.S. housing market to continue decline and that the foreclosure rate will rise for several more quarters. Posted on November 24, 2007 at 07:42 am
Nov 21
Boston Scientific Increases Amount of Guidant Settlement

The Massachusetts-based medical device company that bought Indianapolis-headquartered Guidant in 2006 recently announced it will pay an additional $45 million into a fund to settle more than 8,500 products liability claims. Posted on November 21, 2007 at 06:20 am

Rank This Week: 1581

Bankruptcy Beach

Covers bankruptcy from a creditor's point of view, focusing on developments in California and the Ninth Circuit. By Dean T. Kirby, Jr.

http://www.bankruptcybeach.com/

Oct 29
Concealed Assets and Exemptions

In a post last week, I reported on the 9th Circuit BAP's recent decision, In re Onubah, 2007 WL 2701336 (Bankr. App. 9th Cir. August 31, 2007), which surcharged the Debtor's allowed homestead and household goods exemptions in the amount of the attorney fees and other costs incurred by the trustee as a result of the Debtor's legal and extra-legal obstruction of the sale of his home. In the Onubah opinion, the Court tries to explain why the result, which amounts in part to an award of the... Posted on October 29, 2007 at 12:26 pm by Dean T. Kirby, Jr.
Oct 23
Debtors: On Vacating the Premises, Take Your Goo With You!

A landlord has successfully circumvented the "cap" on lease rejection damages imposed under Bankruptcy Code section 502(b)(6). In deciding a case with highly unusual (and sympathetic) facts, Ninth Circuit Judge Alex Kozinski has made some broad statements that will henceforth encourage landlords to structure their claims, and their leases, to try to "beat the cap." The case is In re El Toro Materials Company, 2007 WL 2822019 (9th Cir., October 1, 2007). You've got to love these facts: The... Posted on October 23, 2007 at 03:03 am by Dean T. Kirby, Jr.
Oct 21
Trustees Can Take Hostages! – They’re Called “Exemptions”

A few weeks ago the Bankruptcy Appellate Panel for the Ninth Circuit issued a decision which all chapter 7 trustees should welcome. The BAP upheld the decision of Bankruptcy Judge Kathleen Thompson, of the Central District of California, surcharging the Debtor's homestead and household goods exemptions in the amount of the attorney fees and other costs incurred by the Trustee as a result of the Debtor's refusal to vacate the home and related legal shennanigans aimed at frustrating the sale. In... Posted on October 21, 2007 at 03:47 am by Dean T. Kirby, Jr.

Rank This Week: 1606

Bankruptcy Blog from...

Bankruptcy Blog from LegalHelpers.com

Covers topics related to consumer bankruptcy including chapter 7 bankruptcy, chapter 13 bankruptcy and general personal finance issues. From Macey & Aleman, PC's LegalHelpers.com

http://www.legalhelpers.com/blog

Aug 17
Bankruptcy Stigma?

In my experience, most of my clients find it a difficult decision to file for bankruptcy. I find that their concerns and fears are not related to the economics of the situation. That part is usually painfully clear. The fears and anxiety about bankruptcy most of the time arise because of personal guilt, fears about the future, or morality struggles. As a lawyer, I can provide information and offer my experience to address guilt and fears about the future, but it is very difficult to address... Posted on August 17, 2007 at 02:48 am by Legal Helpers
Aug 1
Big Bad Credit Card Companies?

I read an editorial in today's New York Times that discussed the failure of federal agencies that are supposed to keep up with deceptive and unfair practices in the banking and credit card industries. As a consequence, many hard-working Americans who pay their bills are mired in debt and in danger of losing whatever savings they have. Many might even be at risk of losing their homes! The editorial urged Congressional action and discussed that in Congressional hearings this spring held by... Posted on August 1, 2007 at 02:40 am by Legal Helpers
Jun 22
Beware Debt Settlement Agencies

I read an article today from amNY.com about a hairdresser in New York who went to a debt referral agency called "Debt Choice." They put her in touch with an attorney that does debt settlement negotiation. The firm was Seidelman Law Firm and the hairdresser ended up filing for bankruptcy in order to get real relief! The Seidelman firm basically has the person pay them money every month that they deposit into a trust account and when they accumulate enough money, they try to work out a negotiated... Posted on June 22, 2007 at 09:49 am by Legal Helpers

Rank This Week: 1621

DCBA BK Blog

Official weblog of the DuPage County Bar Association bankruptcy committee. By Mazyar Hedayat.

http://dcbabk.blogspot.com

Oct 10
Judge Halts Defendants' Bid to Avoid $116M Med-Mal Verdict

/**/ ed. note: thanks to Gloria Norton of the DuPage County Bar Association for this piece By Rebecca Riddick Daily Business Review 10-06-2006 Even before a jury had completed its deliberations, two Tampa, Fla.-area medical practices filed for bankruptcy after they were hit with a $116.7 million malpractice verdict in favor of a quadriplegic who blamed them for his condition. The Chapter 7 bankruptcy filings -- designed to avoid paying what attorneys called the largest medical malpractice award... Posted on October 10, 2006 at 12:51 am by M Hedayat
Oct 6
UST Audits coming this month (October)

Jonathan C. Becker, Attorney at LawLawrence, Kansas Effective October 17 per BAPCPA &#xc2&#xa7603 at least 1 of every 250 cases will be audited. Notification letters will be sent by the UST. Recipients will have 21 days to produce the 4 categories of required documents: (1) 6-months of payment advices(2) 6-12 months of bank statements (3) divorce decree(4) packet of documents such as 2-4 years of tax returns, titles to property, deeds, etc. The audit will result in one of 3 outcomes: audit complete, no... Posted on October 6, 2006 at 06:45 am by M Hedayat
Oct 5
In re Ellis, 339 B.R. 136 (Bkrtcy.E.D.Pa. 2006) D...

In re Ellis, 339 B.R. 136 (Bkrtcy.E.D.Pa. 2006) DIANE WEISS SIGMUND, Chief Judge &#xc2&#xa7&#xc2&#xa7362(c)(3)(C)(i) and (ii) Debtor's motion to extend the automatic stay brought timely with 30 days of filing petition was denied on grounds of bad faith where debtor could not demonstrate change of circumstances from previous dismissed case. In re Virissimo, 332 B.R. 201 (Bkrtcy.Nev. 2006) LINDA B. RIEGLE, Bankruptcy Judge &#xc2&#xa7 522(p) 11 U.S.C. &#xc2&#xa7 522(p) is applicable even though Nevada does not allow the choice... Posted on October 5, 2006 at 01:47 am by M Hedayat

Rank This Week: 1657

Oklahoma Legal Issues

By Absolute Legal Services, LLC.

http://www.blog.absolutelawfirm.com

Nov 21
Twitter Weekly Updates for 2009-11-21

Just watched a local news story about domestic violence. Reporter states worst time of year for DV cases. Seek assistance if you're a vic. # RT @LawyerGina: Lawyers are Business People Too. Madsen Law Blog [bit.ly] // Great perspective & simplicity. # What just happened to USC? Ouch! #kissyourbowlchancesgoodbye # One crazy cat lady has 122 cats! # Quick, turn to ABC & watch 20/20 about "Cat Ladies." Shocking. # RT @ABAJournal: Is Law School a Good Investment? No, Law Profs Say, for Many... Posted on November 21, 2009 at 09:11 pm by Jeffrey
Nov 18
Insurance Companies – The essence of bad faith?

I can't decide what I dislike more, the Dallas Cowboys (I grew up a 49ers fan), or insurance companies. I guess, based on articles like this one, I'd have to say insurance companies. In this Connecticut case, a jury smacked The Hartford Insurance Company with a $15 million jury verdict for unfair trade practices. Apparently, The Hartford ran a deceptive program that "allegedly suppressed shop labor rates artificially by exclusively using its own representatives to make appraisals following... Posted on November 18, 2009 at 03:09 am by Jeffrey
Nov 14
Borrowing Against Your Claim

When you're injured, you're likely to lose time from work and a steady income. You'll find, especially as your case progresses, that there are plenty of lenders willing to "finance" your lifestyle, for a "share" of your settlement award. These lenders offer to pay you a lump sum award now, for payment, plus interest, when your case settles. These are tempting propositions to clients, especially those without incomes, because there's a significant and immediate influx in income to handle... Posted on November 14, 2009 at 12:36 pm by Jeffrey

Rank This Week: 1758

713Bankruptcy.Com

Covers the preparation of Chapter 7 and 13 bankruptcy petitions. By Victoria Ring.

http://www.713bankruptcy.com

Nov 21
Mortgage Cram Downs in Bankruptcy

Do your part to help save homes across America As you are aware, homeowners across America continue to suffer from mortgages that are under water. An example of an underwater mortgage is: Home is appraised at $300,000 but $500,000 is owed on the first mortgage and $100,000 is owed on the second. If the bank repossessed the home, the most they could sell the house for would be $300,000. In fact, they would receive substantially less because they would absorb the cost of selling the property.... Posted on November 21, 2009 at 07:47 pm by admin
Nov 21
Questions and Answers from Bankruptcy Professionals

The following questions and answers were submitted to 713Training.Com either at a teleconference or by email during this past week. The best of the best were chosen to be published below. The answers are provided by Victoria Ring who is not an attorney. Therefore, the information provided in this material is for training purposes only and no whole or part should be regarded as legal advice. DEAR VICTORIA If the only debt the debtor has is arrearages on the mortgage, can the arrearage be cured... Posted on November 21, 2009 at 02:31 pm by admin
Nov 16
Chapter 13 Concepts Exam Now Available Online

Price reduced by over 50% due to reduction in overhead expenses I am happy to report that the Chapter 13 Concepts Exam has made a giant leap into the 21st Century. It has been redesigned so that students now take the Exam online and receive their final grade immediately. In the past, a student purchased the exam for $79.99. They completed it by hand and faxed back to 713Training.Com. When we received it, we forwarded the Exam to a paralegal to grade the old-fashioned way (by hand). This process... Posted on November 16, 2009 at 05:11 pm by admin

Rank This Week: 1763

San Francisco Bankruptcy Lawyer...

San Francisco Bankruptcy Lawyer Blog

Covers bankruptcy and foreclosure. By Rinne Legal.

http://www.sanfranciscobankruptcylawyerblog.com/

Nov 21
California Foreclosure Auction Delayed at Last Minute

Plans to sell the foreclosed properties of a San Luis Obispo wine tycoon on the courthouse steps were put on hold at the last minute yesterday. The development illustrates how tricky California bankruptcies and California foreclosure procedures can be throughout the lengthy legal process of bankruptcy. David Weyrich's foreclosed assets include three different wineries and more than 500 acres of vineyards, all in and around Paso Robles, as well as a luxury B&B and two wine tasting rooms. The... Posted on November 21, 2009 at 03:22 pm by Michael Rinne
Nov 19
California Foreclosure Data: Good News, Bad News

Depending on how you look at it, the latest wave of October California home foreclosure data might, or might not, signal good news for the broader economy. According to the widely-watched RealtyTrac index, October foreclosure filings totaled 332,292 nationwide, with California's home foreclosure rate remaining among the worst in the country. How is this good news? As USA Today notes the October number, as bad as it is, actually represents a 3 percent drop compared to September (it is up 19%... Posted on November 19, 2009 at 11:00 am by Michael Rinne
Nov 18
California foreclosure prevention program shows signs of success

Nine months after its launch the government's "Making Home Affordable" program has reached significant numbers of homeowners in danger of a California foreclosure, offering them help with California mortgage loan modifications, according to recent media reports and new data from the Treasury Department. The Washington Post reports, however, that the program's long-term success rate remains unclear. It is simply too soon to say how many California homeowners will still lose their homes. Treasury... Posted on November 18, 2009 at 12:07 pm by Michael Rinne

Rank This Week: 1776

Sacramento Bankruptcy Lawyer Blog

Covers bankruptcy and foreclosure law. By Rinne Legal.

http://www.sacramentobankruptcylawyerblog.com/

Nov 21
Developer's Bankruptcy Leaving Elk Grove Short

Sacramento-based developer Reynen & Bardis left two large unfinished lots in an area south of Elk Grove Boulevard. But the visual blight is not the only way the developer's wayward project is harming Elk Grove. The bankrupt developer still owes $1.4 million in property taxes to the city, money that is counted on to pay bond debt that the city took out to pay for the public improvements and services necessary to sustain expanding development. It owes another $135,000 in late fees. Elk Grove... Posted on November 21, 2009 at 10:08 am by Michael Rinne
Nov 20
Those Without Health Insurance Face Higher Costs for the Same Services

The high cost of medical care has been a much-discussed topic as President Obama and Congress wrangle over healthcare reform. One major purpose of reform is to insure many of the millions without insurance. The saga of a slain Sacramento State student illustrates how necessary reform is. On October 21, a Sacramento State student was rushed to the UC-Davis Medical Center Emergency Room after his roommate savagely beat him. The trauma team frantically tried to save him, but the student died five... Posted on November 20, 2009 at 09:54 am by Michael Rinne
Nov 19
You Can Still Buy a Home After Filing Bankruptcy

There is a common misconception that filing bankruptcy will permanently prevent a person from being able to purchase a home. The reality is that there is no rule that banks cannot provide loans to those who have recently filed for bankruptcy. In fact, many people obtain home loans mere years after filing. A bankruptcy filing will significantly affect a person's credit report initially, but the effect diminishes over time, especially as the filer actively rehabilitates their credit. A Chapter 7... Posted on November 19, 2009 at 09:51 am by Michael Rinne

Rank This Week: 1790

Atlanta Bankruptcy Attorney Blog

Covers bankruptcy, debt, and debt analysis. By DebtStoppers USA.

http://www.atlantabankruptcyattorneyblog.com/

Nov 21
More Borrowers Default On Mortgages As Holidays Approach

'Tis the season for giving, but if many of us don't curb our spending habits, the only thing we'll be giving is our home - back to the bank. Just as the media was reporting in September that an economic recovery was underway, there were still roughly 4 million homeowners either in some stage of foreclosure or at least three months behind on mortgage payment, according to the Mortgage Bankers Association. Even worse, those foreclosures have been pushing down home values in the cities that are... Posted on November 21, 2009 at 12:03 am by Money Maven
Nov 18
Consumers Can Be Thankful for Decreasing Grocery Store Prices

I could swear that grocery prices inch higher every day, but apparently (and fortunately for my wallet) I'm wrong - the price of a Thanksgiving meal has actually declined this year. Don't believe me? The proof is in the (corn) pudding. A survey by the American Farm Bureau Federation found that a family of 10 will pay just under $43 for a Turkey Day spread of bird, mashed potatoes, stuffing, cranberry sauce and the like - that's 4% less than last year and the first decline in nearly a decade. In... Posted on November 18, 2009 at 09:34 pm by Money Maven
Nov 16
Taxpayers Could Owe Stimulus Money Back to Government

I guess Uncle Sam never learned that it's not polite to take back a gift. Recently it was announced that up to 15 million taxpayers could owe money from a tax credit back to the government come tax season. So what happened exactly? Under the Making Work Pay part of the stimulus package, employed Americans received a tax credit of $400 for individuals and $800 for married couples. Since it was a payroll credit, workers received the money by having less withheld on their paychecks - meaning more... Posted on November 16, 2009 at 10:55 pm by Money Maven

Rank This Week: 1832

Chicago Bankruptcy Lawyer Blog

Covers bankruptcy and foreclosures. By DebtStoppers USA

http://www.chicagobankruptcylawyerblog.com/

Nov 20
Mortgage Defaults Increase Despite News of Economic Recovery

A growing number of Americans aren't going to be home for the holidays this year - and it's not because they're traveling. Despite news that the economy is under recovery, foreclosures are again on the rise as a growing number of borrowers with good credit and fixed-rate loans default on their mortgages. It's just the opposite of what triggered the recession - when borrowers with bad credit began defaulting on subprime mortgages with adjustable rates. So what's going on? Homeowners are simply... Posted on November 20, 2009 at 11:55 pm by Money Maven
Nov 18
Thanksgiving Meal Costs A Little Less This Year

If your financial state has you struggling for something to be thankful this year, take heart - at least your holiday meal won't cost as much as last year. For the first time in almost a decade, the price of a Thanksgiving meal has dropped. A traditional dinner of turkey, mashed potatoes and gravy, stuffing and all the fixings will cost an average of $42.91 for a group of 10 people, roughly 4% less than it did a year ago, according to the American Farm Bureau Federation. It might be hard to... Posted on November 18, 2009 at 11:00 pm by Money Maven
Nov 16
Some Employees May Have to Pay Stimulus Money Back

Remember that stimulus package the government enacted back in February? Well, apparently Uncle Sam got a little too generous. It's just been announced that up to 15 million taxpayers could owe some of that stimulus money back next year. Why? Under the Making Work Pay tax credit, most working Americans had less withheld on their paychecks, resulting in extra take-home pay of about $60 a month. But when the government changed its withholding tables for the new system, it didn't factor in things... Posted on November 16, 2009 at 10:43 pm by Money Maven

Rank This Week: 1833

Boston Bankruptcy Lawyer Blog

Covers bankruptcy law issues. By the Law Office of Neil Burns.

http://www.bostonbankruptcylawyerblog.com/

Nov 20
The IME -- Insurer's Medical Examination

Following a bodily injury claim, your insurance company has the right to request that you present to a doctor of the insurance company's choice for a medical examination. No matter who is at fault in an automobile accident, your insurance company always pays the medical bills through insurance coverage that you purchased called, Personal Injury Protection (PIP). This part of your insurance policy mandates that you must cooperate with your insurance company after you present a claim to your... Posted on November 20, 2009 at 06:19 am by Neil Burns
Nov 18
More Roth Planning for 2010 and 2011

We are advising our Massachusetts clients to look into a loophole in the tax code for Roth IRA conversions in 2010. The tax code has been amended to allow folks to do a reverse Roth IRA conversion in 2010. Here is how it can be executed: First, you have during the year of 2010 to convert a traditional IRA to a Roth IRA. Be careful, there is a tax consequence here in that the entire amount converted is taxable income. You should pay the taxes out of savings or earnings outside the IRA and Roth... Posted on November 18, 2009 at 09:35 am by Neil Burns
Nov 13
Massachusetts Bankruptcy Fraud Notes

Clients often ask us if their personal bankruptcy will be successful. Of course, we can't guarantee results. However, one thing we can guarantee is that any misstatements on the Petition or Schedules will result in increased scrutiny and likely no discharge. In a recent case in Louisiana, a married couple were charged criminally for giving a false statement in bankruptcy proceedings and fraud; they "knowingly and fraudulently devised and intending to devise a scheme and artifice to defraud and... Posted on November 13, 2009 at 10:09 am by Neil Burns

Rank This Week: 1995

California Bankruptcy Attorney...

California Bankruptcy Attorney Blog

Covers consumer bankruptcy, debt settlement, foreclosure and loan modification. By Howard | Nassiri, LLP.

http://www.californiabankruptcyattorneyblog.com/

Nov 20
Debt Collectors Harass and Threaten Man Over Debts Incurred by Parents

As San Diego County fair debt collection attorneys, we are used to seeing horror stories from people who have been the targets of debt collectors. But a Nov. 13 post on The Consumerist blog (owned by the parent company of Consumer Reports) added a new twist: harassing debt collector calls to the adult son of an older couple who made some bad decisions with their retirement income. The son, referred to as Jay in the post, said he was put down as a reference on some of his parents' purchases.... Posted on November 20, 2009 at 05:15 am by Howard | Nassiri, PC
Nov 19
Lawmakers Hear Testimony From Nevada Assembly Speaker About Foreclosure Mediation

As Fullerton loan modification attorneys, we are following with great interest a new bill intended to stem the tide of foreclosures. Assembly Bill 1588, the Monitored Mortgage Workout Program, would allow borrowers whose loans are in default to choose a monitored foreclosure mediation program in which a qualified monitor supervises the loan modification process. A press release published Nov. 12 by California Newswire reported that Nevada's Speaker of the Assembly, Barbara Buckley, traveled to... Posted on November 19, 2009 at 06:13 am by Howard | Nassiri, PC
Nov 18
Treasury Department Report Shows Temporary HAMP Loan Mods Have Increased

As West Covina loan modification attorneys, we were interested to see the Treasury Department's monthly report on the progress of the federal Making Home Affordable plan. Lenders participating in the mortgage relief program have been under fire almost since its inception, from government officials, consumers and advocates who say lenders have dragged their feet on offering sustainable loan modifications. The Associated Press reported Nov. 11 that lenders have improved a bit, offering temporary... Posted on November 18, 2009 at 07:15 am by Howard | Nassiri, PC

Rank This Week: 2012

Hoboken Bankruptcy Attorney

Covers consumer bankruptcy in New Jersey. By Jennifer N. Weil.

http://jenlawyer.com

Nov 19
Would you like to repay Aunt Sally before filing bankruptcy? Read this first.

Image via Wikipedia The whole issue of whether you should repay someone to whom you owe money before you actually file for Chapter 7 bankruptcy is more complex than it looks at first glance. I introduced the issue in a previous post about repaying debts before bankruptcy, but there is a lot of detail here that is worth examining. You may recall from my previous post that if you repay someone you owe money (whether it's American Express or your Aunt Sally) just before filing for bankruptcy, and... Posted on November 19, 2009 at 11:00 am by jweil
Oct 28
New Jersey household median income levels rising soon

Image via Wikipedia The picture over there on the right? Those are test tubes. I couldn't resist - you'll get it in a minute. Read on. On November 1, 2009, the Census Bureau median family income for a one-person household in New Jersey goes up from $57,120 to $60,026. What does this mean to you? It could mean a lot, if you are planning to file a Chapter 7 bankruptcy in New Jersey. Part of what you need to do to qualify for a Chapter 7 bankruptcy is pass the means test. If your income is below... Posted on October 28, 2009 at 08:14 am by jweil
Oct 23
Inadequate protection from debt collection law

Image via Wikipedia On October 21, the Government Accountability Office (GAO) released a new report on debt collection abuses and the current state of legal consumer protections against those abuses. The GAO found that current legal protections for consumers facing abuses by the debt collection industry fall short of actually protecting those consumers. Problems such as excessive phone calls and unauthorized fees still exist. In addition, debt buyers often do not have sufficient information... Posted on October 23, 2009 at 06:30 am by jweil

Rank This Week: 2132

Long Island Bankruptcy Blog

Covers bankruptcy law, practice and procedure. By Craig Robins.

http://longislandbankruptcyblog.com

Nov 19
Bankruptcy Filings Are Reaching New Highs

Written by Craig D. Robins, Esq. Individual Bankruptcy filings have continued to increase this year, bringing the filings for those overwhelmed by consumer debt to new highs since the bankruptcy laws were overhauled in 2005. Nationally, the 135,913 consumer bankruptcy filings in October represented a 27.9 percent increase over last October's monthly total of 106,266. The above graph, courtesy of the Calculated Risk Blog, shows consumer filings on a quarterly basis going back to 1996. We are now... Posted on November 19, 2009 at 01:30 am by Craig Robins
Nov 18
Can Credit Card Companies Trust the Collection Firms They Hire?

Written by Craig D. Robins, Esq. Law Firm of Bill Collectors Dissolves Amid Law Suits Alleging that the Collection Firm Engaged in Fraud I previously wrote about debt collector law firms in New York that had gotten in trouble with the law. Debt Collectors Shut Down by Attorney General . Now it is coming to light that a large regional collection firm in Georgia crashed and burned amid allegations that the firm failed to file collection law suits on behalf of their clients and also used funds for... Posted on November 18, 2009 at 06:00 am by Craig Robins
Nov 17
New Bankruptcy Chapter: Chapter 14 ???

Written by Craig D. Robins, Esq. Possible New Bankruptcy Chapter for Companies "Too Big To Fail" We are all familiar with bankruptcy Chapters 7, 11 and 13. Then there's Chapter 9 for municipalities, Chapter 12 for farmers, and rather recently, Chapter 15 Bankruptcy for international insolvency matters. In an American Bankruptcy Institute Legislative Symposium held today, the panelists discussed whether Congress should add a new chapter to the Bankruptcy Code to handle filings by this country's... Posted on November 17, 2009 at 04:45 pm by Craig Robins

Rank This Week: 2206

Kansas Bankruptcy Law Information

Covers Chapter 7 and 13 bankrupcies, foreclosures, and bankruptcy trustees. By Mark Neis and Jill Michaux.

http://www.bankruptcykansas.info

Nov 18
US Trustee Website Changed

The website URL for the United States Trustee's Offices in Region 20, which includes Kansas, has changed to: http://www.justice.gov/ust/r20/index.htm Posted on November 18, 2009 at 10:40 am by Jill Michaux, Topeka Consumer Bankruptcy Specialist
Nov 15
My Chapter 13 Bankruptcy Is Filed, Now What?

Answers to your basic chapter 13 bankruptcy questions by Jan Hamilton, Standing Chapter 13 Bankruptcy Trustee in Topeka, Kansas: Please Read This Entire Letter. It contains information needed to complete your Chapter 13 Plan and answers certain questions you may have. If you have a question that is not addressed here, you should contact your attorney. [...] Posted on November 15, 2009 at 08:14 am by Jill Michaux, Topeka Consumer Bankruptcy Specialist
Oct 27
Wichita Jeweler Files Bankruptcy

Barriers Inc, a long-time Wichita jeweler filed a chapter 11 bankruptcy Friday. The store is located at Douglas and Oliver. Ed Nazar is the company's bankruptcy attorney. Posted on October 27, 2009 at 07:02 am by Jill Michaux, Topeka Consumer Bankruptcy Specialist

Rank This Week: 2267

netDockets Corporate Restructuring...

netDockets Corporate Restructuring and Bankruptcy Blog

Provides news and analysis of chapter 11 bankruptcy cases.

http://www.netdocketsblog.com/

Nov 18
Penn Traffic Files Chapter 11 for Third Time

The Penn Traffic Company and eight affiliates voluntarily filed for chapter 11 bankruptcy protection on Tuesday for the third time in the last decade. The companies are one of the largest food retailers in the Northeastern U.S. ($872 million in annual revenues), with 79 supermarkets in upstate New York, Pennsylvania, Vermont, and New Hampshire. The stores are branded as "Bi-Lo," "P&C," and "Quality." The companies, headquartered in Syracuse, New York, trace their food retailing roots to... Posted on November 18, 2009 at 10:30 am by Randall Reese
Nov 18
Foamex Asks Court to Dismiss Chapter 11 Cases

Foamex International, Inc. and seven affiliates filed a motion on Wednesday asking the bankruptcy court to dismiss their chapter 11 cases for cause. Foamex voluntarily filed for chapter 11 protection in Delaware in February and subsequently pursued a sale of substantially all of its assets. After first seeking approval to sell its assets to an entity formed by Wayzata Investment Partners LLC and being instructed by the court to reopen the auction, Foamex sold its assets to The Bank of New York... Posted on November 18, 2009 at 10:28 am by Randall Reese
Nov 18
Magna Entertainment Key Employee Incentive Plan Approved

Judge Mary Walrath of the U.S. Bankruptcy Court for the District of Delaware entered an order earlier today authorizing Magna Entertainment Corp. to implement its proposed key employee incentive plan (KEIP). Magna and certain affiliates filed for bankruptcy protection in Delaware on March 5, 2009. The companies are one of the leading owners and operators of horse racetracks in North America and owns, among others, Pimlico Race Course (home of the Preakness Stakes , the second leg of horse... Posted on November 18, 2009 at 09:24 am by Randall Reese

Rank This Week: 2269

Bankruptcy Blog

Covers bankruptcy laws and regulations. By Brian D. Lerner.

http://ebankruptcyatty.com/

Nov 18
should or can i file bankruptcy? I only have one debt. It is with the dept. of Treasury.

Hello: You need to be aware that filing bankruptcy does not discharge everything. In fact, there are many tax related debts which do not get automatically discharged. I would need to know more specifically what this debt is for. Regards, Brian D. Lerner Attorney at Law ebankruptcyatty.com Posted on November 18, 2009 at 08:08 am by admin
Nov 12
Do i pay minimum on credit cards or pay off my debts? would i be able to claim bankruptcy if my money runs out?

Hello: Whether you declare bankruptcy or not would be your decision. Most people who declare bankruptcy do not pay off their debts (otherwise, what is the purpose of the bankruptcy.) Of course, you would have to qualify under the means test and confirm you did not file bankruptcy within the prior 8 years. Sincerely, Brian D. Lerner Attorney at Law ebankruptcyatty.com Posted on November 12, 2009 at 11:01 am by admin
Nov 12
is it ok to keep bank acct after fililg bankrupt against their credit cards?

Hello: Your bank account and your credit cards are governed by two seperate agreements. The bank should not have the right to take money from your bank account to cover the credit card expenses. However, if you have more in the bank account than can be exempted, the Trustee could take some of that money to cover the creditors debts. You should contact a local bankruptcy attorney. Sincerely, Brian D. Lerner Attorney at Law ebankruptcyatty.com Posted on November 12, 2009 at 10:52 am by admin

Rank This Week: 2291

Oklahoma Bankruptcy Lawyer Blog

Covers consumer bankruptcy issues, including Chapter 7, 11, 12 and 13 of the United States Bankruptcy Code. By Dan Nunley.

http://www.oklahoma-bankruptcy-attorney.com

Nov 18
My PaperLESS Oklahoma Bankruptcy Law Office

Since 1996, my primary area of law practice has been Consumer Bankruptcy. One of the facts of life regarding being a bankruptcy lawyer is that there is a ton of paper involved. In representing thousands of Oklahomans over the past thirteen to fourteen years, I amassed a warehouse full of paper. It's easy to understand how quickly the paper builds up when you consider all of the paperwork that comes with each bankruptcy case - starting with the multitude of documents I request from my clients... Posted on November 18, 2009 at 02:00 am by Dan Nunley
Nov 16
Federal Reserve Implements New Rule Regarding ATM and Debit Card Overdraft Fees

Banks will have to get their customers' consent before charging large overdraft fees on ATM and debit card transactions according to a new rule that will be effective July 1, 2010. The Federal Reserve announced the new rule in response to complaints from consumer groups, members of Congress and other regulators who argued that the present overdraft fees are unfair because many people assume they can't spend more on a debit card than is available in their bank account. However, most banks allow... Posted on November 16, 2009 at 02:00 am by Dan Nunley
Nov 14
Winnercomm Lays Off 25 Employees In Tulsa

The Outdoor Channel has eliminated 30 jobs at its Tulsa subsidiary Winnercomm Inc. according to Tom Hornish, CEO of Outdoor Channel Holdings Inc. Winnercomm focuses on television and web production, development and marketing as well as the SkyCam and CableCam mobile camera systems used in televised sports and other live events. The job cuts, which total 25 percent of the 120 employees at Winnercomm, were mostly across the board, but the SkyCam and CableCam divisions were not affected Hornish... Posted on November 14, 2009 at 08:33 am by Dan Nunley

Rank This Week: 2321

Bill McLeod's Law Blog

Covers bankruptcy, debts and the law.

http://mcleodlawoffices.com/

Nov 17
Lending to Unemployed: Frankly, There’s Got to be a Better Way

Yesterday I tweeted about Barney Frank's idea of giving unemployed homeowners access to low interest loans. The theory is that it help fills a gap in the Obama Administration's plan to address foreclosures caused by unemployment. I think this is a bad idea (and a bit of mid-term election posturing). ... Posted on November 17, 2009 at 11:41 pm
Nov 14
Security Clearances & Bankruptcy

Occasionally, clients will ask me about whether their security clearance is at risk if they file for bankruptcy protection. This came up yesterday when I came across a comment from a reader who expressed real concerns over his fear of losing his clearance if he filed. Why? The simple reason ... Posted on November 14, 2009 at 12:10 am
Nov 11
November 11: Today We Remember

"Today we remember and honor the past service of America's veterans, and today we renew our commitment to meet the challenges of America's future for which they gave so much. Almost two centuries ago, Daniel Webster said in his dedication of the monument at Bunker Hill: 'There remains to us ... Posted on November 11, 2009 at 11:40 pm

Rank This Week: 2327

Bankruptcy Attorney Denver

Covers bankruptcy, debt consolidation and debt negotiation in Colorado. By Trunnell & Sellers.

http://www.bankruptcyattorney-denver.com

Nov 17
3 Necessary Steps of Filing For Bankruptcy in Denver…

Steps to Take Prior to Bankruptcy Filing... Have you been thinking about filing for bankruptcy in Denver and are unsure of the steps needed to file for bankruptcy protection in Denver. If you are considering Bankruptcy in Denver, here are some of the basics steps you need to start looking at before you pay an attorney in Denver to work on your bankruptcy case. Look at your current assets and liabilities and put them on paper. This way when you to to a bankruptcy attorney in Denver, then you are... Posted on November 17, 2009 at 01:50 pm by jesse
Nov 1
How Much Does a Bankruptcy Cost in Denver?

How Much Does a Bankruptcy Cost in Denver? Almost every day I get a call from a potential client with a simple question: "How much does a bankruptcy cost here in Denver?" Potential clients are often very annoyed when I don't give them a number back. I have to ask questions and qualify the amount of work that will go into a case before I can assess the costs. People call up asking for the price as if I am selling a box of rice and get annoyed when the process is more like I am building a deck.... Posted on November 1, 2009 at 09:44 pm by jesse
Oct 24
Credit Cards vs Debit Cards… Simple Advice for General Finances

Credit Cards vs Debit Cards Everyone these days have a credit card or a debit card. This post does not have a lot to do with bankruptcy in Denver, but more about financial protection of your assets. I wnted to go over this because it could cause a person to need to file bankruptcy in Denver if they were unaware of some of the nuances between a credit card and a debit card. I am going to make this extremely generic because this is a bankruptcy site for people thinking about bankruptcy filing in... Posted on October 24, 2009 at 11:58 am by jesse

Rank This Week: 2343

South Bay Law Blog

Covers bankruptcy, liquidation, receivership, reorganization and related issues. By the South Bay Law Firm.

http://www.southbaylawfirm.com/blog

Nov 16
The Stanford Saga - Chapter 11: Is Something Rotten in the State of Antigua?

As readers of this blog are aware, Antiguan liquidators Peter Wastell and Nigel Hamilton-Smith and federal receiver Ralph Janvey have been busy in several forums battling for control of the financial assets previously controlled by Allen Stanford, including Stanford International Bank, Ltd. (SIB). Prior posts are accessible here. Messr's. Wastell and Hamilton-Smith have filed numerous pleadings from other courts in support of their pending request, before US District Court Judge David Godbey,... Posted on November 16, 2009 at 08:12 pm by admin
Nov 9
Zoned Out

The fiduciary duty of directors and officers to the shareholders of their corporation is a fundamental axiom of corporate law. Almost as familiar is the notion that when a corporation enters the "zone of insolvency", those fiduciary duties expand to include creditors as well. What may be far less familiar is determining precisely when the corporation has entered the zone of insolvency - and what to do when it does. Where is the "zone of insolvency"? It has been said that the zone of insolvency... Posted on November 9, 2009 at 09:41 am by admin
Nov 2
Figuring Out the House Rules

In an age of globalized business, US-based firms commonly find themselves dealing with foreign creditors or in contractual relationships with foreign parties. Those off-shore relationships can sometimes raise challenging issues when the firm needs to reorganize or wind down its operations under US insolvency law, and foreign creditors or contractual parties must determine how to proceed. Last week, the Delaware bankruptcy court addressed just one of those challenging issues: What happens when a... Posted on November 2, 2009 at 06:57 pm by admin

Rank This Week: 2411

Special Assets Lawyer Blog

Covers bankruptcy, foreclosure, loan workouts and receiverships. By Richard A. Rogan.

http://www.specialassetslawyer.com/

Nov 16
California Increases Homestead Exemptions

Most loans today are secured by real or personal property collateral, so the homestead exemption is of less importance to institutional lenders than it used to be. However, if you do find yourself administering an unsecured loan, or if you discover that the loan you thought was well secured turns out to be unintentionally unsecured, then it is good to know about the California homestead exemption. The purpose of the homestead exemption is to protect judgment debtors from losing all of their... Posted on November 16, 2009 at 07:04 am by Richard A. Rogan
Nov 13
How to Figure Monthly Interest Payments In Your Head

Negotiations with borrowers can be tricky and fast-paced. The workout professional needs to be able to respond to borrower inquiries quickly, authoritatively and without losing a step. While final numbers, covenants, terms and conditions must be developed carefully before being finalized, workout professionals know that Cash is King and that they must be able to deal with cash flow issues on the fly. The workout professional who can make quick rough calculations without using his or her HP 12C... Posted on November 13, 2009 at 06:10 am by Richard A. Rogan
Nov 12
On Bank Litigation--E-discovery (Part 4): Establishing a Data Assembly Process

The final segment of Stan Gibson's series on Litigation Readiness and Electronic Discovery addresses the practical problem of assembling and collecting all of the data needed for use in the lawsuit. Stan's point is that advance preparation, a luxury in today's fast-paced, cost conscious world, pays dividends when a lender is faced with short time deadlines to respond to massive requests to produce documents and electronic records. Thanks to our many years of hands-on experience, the JMBM... Posted on November 12, 2009 at 07:03 am by Richard A. Rogan

Rank This Week: 2453

Wisconsin Bankruptcy Blog

Provides information on Chapter 7 and Chapter 13 bankruptcy. By Gregory A. Holbus.

http://wisconsinbankruptcy.blogspot.com/

Nov 16
What happens after I file? Do I have to go to court?

Post-petition procedure will vary slightly based on your jurisdiction and which chapter you file under. In Chapter 7, a "section 341 meeting of creditors" is scheduled approximately 4-6 weeks out after your case is filed with the court. With electronic filing, most attorneys would be able to tell you the date, time, and location of your hearing within minutes after your case is filed. Otherwise, you will get a notice of your hearing from the court in the mail a few days later. The location of... Posted on November 16, 2009 at 01:00 am by Atty. Gregory A. Holbus
Nov 13
Creditor Alert - Wells Fargo

For many years, I have advised my clients to zero-out and close any checking or savings account held at a bank that the client also owes a debt to. Why? Because before their bankruptcy case is filed, the bank can seize the banking assets to offset any perceived loss that will occur once their debts have been discharged in bankruptcy.This advice becomes more urgent with debtors who have bank accounts and debts with Wells Fargo. The bank has recently begun asserting that they have an obligation... Posted on November 13, 2009 at 05:16 am by Atty. Gregory A. Holbus
Nov 9
What sort of paperwork do I need to file for bankruptcy?

This answer will vary from jurisdiction to jurisdiction and from trustee to trustee. First, there are standard forms which need to be filed with the court - the petition, your schedules, your Statement of Financial Affairs, and the Means Test. Each jurisdiction may have some supplemental forms, and your attorney should know which forms you will need to complete based on the district you are filing in.In addition to those forms, there is ordinarily a packet of supplemental supporting... Posted on November 9, 2009 at 01:00 am by Atty. Gregory A. Holbus

Rank This Week: 2465

Michigan Bankruptcy Lawyer

Covers chapter 7 and chapter 13 bankruptcies, consumer law, and foreclosure defense. By John Hilla.

http://michiganbankruptcyblog.com

Nov 15
What Happens If I Declare Bankruptcy and am Listed as a Joint Account-Holder on Someone Else’s Bank Account?

Several times in recent weeks, individuals I've counseled wishing to declare bankruptcy have revealed to me that, in addition to their personal bank accounts, they are also listed as "joint holders" on someone else's bank accounts, such as an elderly relative, sibling, or friend. (For the sake of clarity, I am not discussing joint bank [...] Posted on November 15, 2009 at 04:23 pm by hillalaw
Nov 9
What Assets Should I Disclose to My Bankruptcy Attorney?

As a bankruptcy attorney, I'm constantly surprised by the number of clients or potential clients I speak to who believe that, to file Chapter 7 or Chapter 13, they need to move, hide, or sell off assets in order to succeed in their filing. Worse, people often admit that they have been counseled by friends [...] Posted on November 9, 2009 at 04:55 pm by hillalaw
Oct 19
How Much Non-Consumer Debt Can I Discharge in a Chapter 7 Bankruptcy?

Many of my bankruptcy clients in the Detroit, Michigan area have some percentage of business debt alongside their personal, consumer debt. As the job-market has soured here in Michigan, many people have tried to make their own opportunities where opportunities for traditional employment have failed, setting up LLCs or other businesses to try to make [...] Posted on October 19, 2009 at 08:14 am by hillalaw

Rank This Week: 2471

The Interplay Between Bankruptcy...

The Interplay Between Bankruptcy and Divorce Law in Virginia

Explores the effect of a bankruptcy on divorce and other family law matters in Virginia, as well as the effect of a divorce or other family law matter on a bankruptcy. By James H. Wilson, Jr.

http://bankruptcydivorceblawg.com

Nov 15
Can a wife obtain more than half of the value of the marital residence in a Virginia divorce?

Can a wife obtain more than half of the value of the marital residence in a Virginia divorce? In an unpublished opinion, the Virginia Court of Appeals Tye v. Tye, No. 0833-08-1 (August 11, 2009) upheld an award of 65% of the net proceeds from the sale of the marital residence to the wife. [www.courts.state.va.us] The husband and wife were married and lived together for twelve years. The wife left the husband due to the husband's mental health problems and his failure to take all his prescribed... Posted on November 15, 2009 at 08:54 am by admin
Nov 12
Top Ten Costly Divorce Mistakes to Avoid During a Recession

TOP TEN COSTLY DIVORCE MISTAKES TO AVOID DURING A RECESSION 1. Adultery may eliminate spousal support in Virginia. 2. Be aware of formulas and guidelines for determining support in Virginia: child support guidelines are the presumptively correct starting point for support; pendente lite spousal support: w/child - 28/58%, w/o child - 30/50%. 3. Alimony: request it, reserve it, or lose it. 4. You have 2 years to file for an annulment and you may lose your right by cohabitation after knowledge of... Posted on November 12, 2009 at 06:20 am by admin
Nov 10
Can a husband always terminate spousal support upon retirement?

Can a husband always terminate spousal support upon retirement? In the Virginia Court of Appeals case of Brown v. Brown, 53 Va. App. 723, 674 S.E.2d 597 (2009), a former husband filed a petition to terminate spousal support due to a material change in circumstances, his retirement. In the final decree of divorce entered in the Virginia Circuit Court some five years earlier, the husband had been ordered to pay a set amount of spousal support each month indefinitely. The husband and wife had not... Posted on November 10, 2009 at 03:32 am by admin

Rank This Week: 2478

Florida Collection Law Blog

Covers consumer, commercial, and medical debt collection in Florida. By Jorge M. Abril.

http://floridacollectionlaw.blogspot.com/

Nov 13
Advanced Collection Strategies

Jorge Abril, partner at the law firm of Jorge M. Abril, P.A., will speak at a National Business Institute seminar entitled Advanced Collection Strategies, on March 2, 2010. His lecture will include discussions on illegal collection practices and on collecting business / commercial debt. More information, including registration instructions and costs, can be found here. Jorge is also scheduled to present a live teleconference entitled Asset Discovery in January 2010. The details of that... Posted on November 13, 2009 at 01:26 pm
Oct 19
Another Federal Circuit Holds Debt Collectors Can't Leave Voicemail Without Violating the FDCPA

The Fair Debt Collection Practices Act (FDCPA) prohibits a debt collector from disclosing information regarding the debt to third parties in the debtor's home (except the debtor's spouse). It also requires a debt collector to disclose to the debtor in the first communication and in every subsequent communication, whether written or oral, that the communication is from a debt collector and is an attempt to collect a debt. See generally 15 USC sections 1692c and 1692e. When read together, these... Posted on October 19, 2009 at 10:56 pm
Oct 13
Chrysler Fraudulent Transfer Case Study Part II - Constructive Fraudulent Transfer Under the Bankruptcy Code and the Uniform Fraudulent Transfer Act

It is now time for Part II of our fraudulent transfer case study, where we discuss constructive fraudulent transfers under the Bankruptcy Code and the Uniform Fraudulent Transfer Act. This installment is being posted on our JD Supra page, as its content proves too long for a single blog post. Click here to view the article. In Part III, coming soon, we will discuss the challenges to pleading and proving a case of intentional fraudulent transfer. Posted on October 13, 2009 at 09:09 am

Rank This Week: 2513

Los Angeles Bankruptcy Lawyers...

Los Angeles Bankruptcy Lawyers Blog

Covers consumer bankruptcy. By Law Offices of Frazee/Laron.

http://www.losangelesbankruptcylawyersblog.com/

Nov 10
Jobless Suffering Now More than in the 1980s: Bankruptcy for Californians Offers a Fresh Start

A recent article from the Associated Press revealed that Americans now have triple the amount of debt compared to 1982. Further, their savings rates are half of what they were back then. Finally, temporary jobs are less plentiful, resulting in people spending 10 more weeks off the job on average than back in 1982. When you combine these ill effects with the realization that workers often have less benefits such as health insurance, one can see how a job loss or medical problem can quickly bring... Posted on November 10, 2009 at 05:27 pm by Law Offices of Frazee/Laron
Oct 12
Los Angeles Bankruptcy Hitting the Wealthy Too: Loan Modifications slow to respond

As a Pasadena Bankruptcy Attorney, new clients requesting Bankruptcy relief appears to be stronger than ever, and includes those with multi-million dollar estates. The prospect of getting rid of all your unsecured debt through either a Chapter 7, Chapter 13, or Chapter 11 Bankruptcy is becoming more and more appealing for a Los Angeles population that continues to struggle with high unemployment, high under-employment, and small business closures due to a weakened consumer demand for those too... Posted on October 12, 2009 at 09:10 pm by Law Offices of Frazee/Laron
Sep 17
Los Angeles Bankruptcy Pros and Cons

Some people in Los Angeles are right now wondering if they should declare Bankruptcy due to financial desperation. So, what can Bankruptcy do for you and what's it going to cost you? 1. A Chapter 7 Bankruptcy can eliminate all of your credit card debts. However, if you have assets that go beyond your maximum exemption limits, the Bankruptcy Trustee can force you to sell your assets that go beyond your exemptions in order to pay off your credit cards. 2. A Chapter 13 Bankruptcy can help you... Posted on September 17, 2009 at 08:47 pm by Law Offices of Frazee/Laron

Rank This Week: 2610

Van Wieren Law Firm, LLC's...

Van Wieren Law Firm, LLC's Bankrutpcy Matters

Covers consumer bankruptcy issues. By Angel M. Van Wieren.

http://vanwierenlaw.blogspot.com/

Nov 9
Will Filing For Bankruptcy Stop Check Garnishment?

Yes. Both Chapter 7 and Chapter 13 bankruptcy filings will stop garnishments (unless the garnishment is related to child support obligations). The first step is to file your bankruptcy petition. The second step is to notify your employer and opposing counsel of the filing, which gives them notice required under Federal Bankrutpcy law. We can not predict how long it will take for a garnishment to stop. It can be as quickly as your next check, or as long as a few months. The reason for the delay... Posted on November 9, 2009 at 02:00 am by Van Wieren Law Firm, LLC
Nov 6
What Is A Reaffirmation Agreement And Should I Sign It?

A Reaffirmation Agreement is a contract that was presented by one of your creditors that you and your attorney sign after your bankruptcy petition has been filed with the court. The legal effect of signing the Reaffirmation Agreement is that the personal liability that was released from you, by way of filing for filing for bankruptcy protection, reattaches to you. For example, say you have a car loan that was listed in your bankruptcy petition. When your petition is filed with the court, the... Posted on November 6, 2009 at 04:00 am by Van Wieren Law Firm, LLC
Nov 5
Who Is This "Trustee" Person You Speak Of?

The Trustee plays a role in every bankruptcy case. He or she is not required to be an attorney. The Trustree's role is to protect your creditors. Think of the Trustee as the intermediary between: (1) you and your attorney; and (2) the Judge. Chapter 7 When you attend your Chapter 7 341 Hearing at the Richard B. Russell Federal Building in downtown Atlanta, you and your attorney will meet with the Chapter 7 Trustee in a hearing room. The Trustee will review your assets as disclosed in your... Posted on November 5, 2009 at 09:00 am by Van Wieren Law Firm, LLC

Rank This Week: 2652

Lakeblawg

Covers consumer and business bankruptcy, and mortgage foreclosure defense. By Lake Law.

http://www.lakelaw.com/lakeblawg

Nov 7
We fight back against mortgage lenders – in bankruptcy court and in state courts in Illinois and Wisconsin

Today, I'm speaking at a panel of the National Association of Consumer Bankruptcy Attorneys in Tucson, Arizona. Our panel is teaching hundreds of lawyers from all over the country how to fight fraudulent claims that mortgage lenders and mortgage servicers make in bnakruptcy cases. It's bad enough that they are pushing you around in mortgage foreclosure. But when we file a bankruptcy case in chapter 13 to protect you. We are teaching lawyers throughout the US how to challenge bogus claims, junk... Posted on November 7, 2009 at 10:35 am by David Leibowitz
Oct 27
Full disclosure – Tell your bankruptcy attorney everything!

We meet clients who have secrets. But bankruptcy is no place for secrets. Bankruptcy requires full disclosure. Clients who don't disclose all of their assets, all of their income or even all of their debts could lose their discharge in bankrutpcy. Why? Everything that you say in your bankruptcy petition is supported by your solemn oath, under penalty of perjury. So if you leave out something important from your bankruptcy petition, and it is clear that you knew better, there's a strong... Posted on October 27, 2009 at 06:42 am by David Leibowitz
Oct 23
Does your bankruptcy lawyer have malpractice insurance?

Your bankruptcy attorney should take pride in his work. And your bankruptcy lawyer's work should be professional and competent. We at Lakelaw take pride in our work. And we put our money where our mouth is too. We carry more than $1,000,000 in malpractice insurance. So far, after 35 years, our carriers have never had to pay a claim! You can check to see whether your Illinois bankruptcy attorney carries malpractice insurance at www.iardc.org. We were surprised to find that some of the biggest... Posted on October 23, 2009 at 05:59 am by David Leibowitz

Rank This Week: 2668

Oregon Debt Relief Weblawg

Covers bankruptcy and federal and state tax matters. By Kent Anderson.

http://www.eugenebankruptcylawyer.com/blog

Nov 6
Should I Sign A Reaffirmation Agreement?

Debtors often have property subject to a lien when they file for bankruptcy. In order to keep the property debtors can often sign a reaffirmation agreement. A reaffirmation agreement is a new contract between the debtor and secured lender. The contract is the debtor's promise to continue making future payments in exchange for the lender's promise to not repossess. Reaffirmation agreements must be approved by the bankruptcy court. Bankruptcy Rules reqire reaffirmation agreements be filed within... Posted on November 6, 2009 at 11:41 am by Cara Richter, Oregon Attorney
Oct 21
Are You Currently Being Audited By The Oregon Department of Revenue?

The Oregon Department of Revenue has put in place a temporary amnesty policy for audits from October 1, 2009 through November 19, 2009 (the amnesty period). This means that if your audit is ongoing, and you have not been issued a Notice of Deficiency with your audit results you may be able to participate in the amnesty program. Previous to this policy, only those taxpayers who had not been contacted by the OR Department of Revenue qualified. What is amnesty? Amnesty can mean a 50% reduction in... Posted on October 21, 2009 at 03:31 pm by Nicole Piehl, Enrolled Agent
Oct 17
What is the Bankruptcy Automatic Stay?

The Automatic Stay is an Order from the Federal Bankruptcy Court requiring that all debt collection actions against a person or business that has filed for bankruptcy protection be suspended or terminated as of the date of filing. The court ordered stay is entered automatically in all bankruptcy cases unless some limited statutory exceptions apply. The automatic stay is a type of injunction or formal command by the court that prohibits any act intended to collect a debt or recover a claim... Posted on October 17, 2009 at 02:25 pm by Kent Anderson

Rank This Week: 2683

Florida Mortgage Modification...

Florida Mortgage Modification Lawyer Blog

Covers news and updates in Florida Mortgage Law, Florida Mortgages, Housing Assistance Bill, Mortgage Modifications in Bankruptcy. Published by The Dellutri Law Group, P.A.

http://www.floridamortgagemodificationlawyer.com/

Nov 6
Foreclosures Still On The Rise In Florida

Government officials are telling us that the recession is over, but the foreclosure crisis is still increasing in Florida and nationwide. Realty Trac released its US Foreclosure Market Report for the third quarter of 2009, which shows that foreclosure filings [including auction sales, default notices and bank repossessions] were reported on 937,840 properties in the third quarter - a 5% increase from from the second quarter of 2009. Significantly, this is almost 23% higher than last year at... Posted on November 6, 2009 at 07:57 am by Shannon Houk
Oct 15
Does My Lender Have To Modify My Loan If They Took Money From The Government?

If you are wondering if your lender has to modify your loan if they took government funds, the long and short answer is NO. At our offices in Ft. Myers, Naples, and Sarasota, Florida, this is one of the questions we get asked most. Unfortunately, there is no legislation today or government guideline which requires any servicer or lender to modify your loan or reduce principal. CNN recently did a story onEmbedded video from CNN Video"> this issue. What the servicers are called to do is a Net... Posted on October 15, 2009 at 06:04 am by Shannon Houk
Sep 29
New Fair Credit Reporting Act Blog By Dellutri Law Group

The Dellutri Law Group is in the process of starting another Consumer Law Blog focusing on the Federal Fair Credit Reporting Act. Our Fair Credit Reporting Act Blog can be found at: www.faircreditreportingactblog.com When you have a chance, please check it out and provide us with your feedback? It should be active in 7 to 10 days. The Fair Credit Reporting Act Blog will focus on all aspects of Credit Reporting. Please send any and all comments to eetnoyer@dellutrilawgroup.com Thank you for your... Posted on September 29, 2009 at 05:39 am by Carmen Dellutri

Rank This Week: 2688

AZ Bankruptcy Blog

Focused on Chapter 7 bankruptcy. By Joseph C. McDaniel.

http://azbankruptcy.blogspot.com/

Nov 5
What Happens Next? Funny You Should Ask!

Once you've paid the retainer and filing fee, your next question is predictably going to be, "what happens next?" I know that because I've done this for thirty years or so. Well, the answer around my office is this! The first phase of your case is the "pre-filing" phase. During this phase, you'll take your pre-petition consumer credit counseling, and fill out materials online. You will also start to fill out your forms, after you've pulled three credit reports to make sure that you list ALL... Posted on November 5, 2009 at 11:29 pm by Joseph C. McDaniel
Sep 16
Now That I've Filed a Chapter 7 Bankruptcy, What Should I Expect to Happen?

Well, the first thing you should expect is some small amount of peace and quiet. Prior to the filing, you may have been getting a few love notes from creditors in the mail, or by way of their process servers, and phone calls telling you that your creditors miss their payments, deeply. That will stop rather abruptly, because when you file your creditors will get notification of the filing and the effect of the automatic stay of 11 USC 362, and they will stop. Automatically. Note that if you get... Posted on September 16, 2009 at 03:28 pm by Joseph C. McDaniel
Sep 1
"Am I Going to Lose My House?" Only If You're Smart.

First, it's not your house. You get to live there until you can't pay the bank anymore and then you get kicked out; so the only way you stay is if you pay, or you find some funky government program that actually works for more than .000001% of the population. Now, let's think about this for a minute: if you are paying four thousand a month for a house, and you can rent a better house for $1,000 a month, is keeping the house a good idea? I frequently get to talk to very, very smart people who... Posted on September 1, 2009 at 06:42 am by Joseph C. McDaniel

Rank This Week: 2694

Tulsa Bankruptcy and Consumer Law

By F. Bennett Callicoat.

http://tulsabankruptcyandconsumerlaw.blogspot.com/

Oct 30
Real Garnishment, Real Life: Can the Bank Take My Kid's Money?

Some clients were in the office and were consulting me about some business debts they'd personally guaranteed from a failed business. Facing the prospect of multiple lawsuits, they wanted to know if a bank could garnish their son's bank account. "Can the bank really take my kid's money?" The answer is "YES" -- any time two or more persons share a joint bank account, they both (all) own 100% of the amount in the account. Therefore, even though the kid has earned every cent in that account... Posted on October 30, 2009 at 10:16 am by fbc
Sep 13
Help! My Landlord told me to get out by tomorrow!

"Help! My landlord has given me 48 hours to leave my apartment and I have no place to go!" Unfortunately, this was a real life plea I received just the other day. The man on the phone told me that he'd had a dispute with his landlord (who occupied the bottom floor of a two-story dwelling) that the tenant and his pregnant wife and baby had rented the upper floor. "Is that legal", he wondered? No, it is not legal. Not under Oklahoma law. In order for a landlord to evict someone, they must file a... Posted on September 13, 2009 at 06:41 pm by fbc
Jul 8
Real Life, Real Bankruptcy: Can I Keep My Car?

It's a question I get all the time: "Can I keep my car if I file bankruptcy?" That answer is a definite "Maybe." The good news is that in most cases, in Oklahoma where I practice, most debtors have sufficient exemptions to cover their vehicles. In other words, they don't have to worry about the bankruptcy trustee being able to seize and sell their cars for the benefit of their creditors. Let's back up a bit. Chapter 7 bankruptcy is known as a "Liquidation Bankruptcy" because theoretically the... Posted on July 8, 2009 at 10:32 am by fbc

Rank This Week: 2788

Bankruptcy Lawyer Blog

Covers bankruptcy exemptions, creditor meetings and debt dischargeability. By PrepareMyBankruptcy.com

http://www.bankruptcy-lawyer-blog.com/

Oct 27
Chapter 7 Bankruptcy - Exemption to Discharge in Bankruptcy - Taxes

Chapter 7 Bankruptcy is known for its "fresh start" but there are 19 exceptions to bankruptcy discharge that are covered under a specific section of the U.S. Bankruptcy Code, known as &#xc2&#xa7523 Exceptions to Discharge. Although now more than 26 years ago, I did my largest law school paper on this section, and have seen it expand again and again in those 26 years as Congress closes more and more loopholes when abuses are discovered. There are 19 types of debts currently considered non-dischargeable... Posted on October 27, 2009 at 10:11 am by Divina K. Westerfield
Oct 25
Bankruptcy For Capmark - Is This The Start of The Collaspe of The Commercial Mortgage Industry?

Bankruptcy seemed to be the inevitable solution to Capmark's large investment in commercial real estate mortgages. Capmark listed more than $20 Billion in assets and more than $21 Billion in liabilities. While in Bankruptcy, Capmark will finalize its existing deal with Berkshire Hathaway (think: Warren Buffet) to purchase its commercial loan servicing and mortgage business [talk about a significant note purchase!] for $490 Million. We have a sister-website, www.NationalNoteAssociation.com, that... Posted on October 25, 2009 at 03:27 pm by Divina K. Westerfield
Oct 23
Bankruptcy Discharge of Medical Expenses, Credit Cards & Mortgages

Afraid you will never be able to discharge your debt in Chapter 7 Bankruptcy because you have heard rumors that some debts are no longer dischargeable? Let's look at the facts and you will be able to decide what you can and cannot discharge [no longer have to pay] after filing for bankruptcy. We will address each by category: Medical Expenses: When working with clients as an attorney, the biggest reason for filing was often medical bills. I use to call bankruptcy our nation's answer to national... Posted on October 23, 2009 at 08:53 am by Divina K. Westerfield

Rank This Week: 2821

Mississippi Bankruptcy Help

Provides answers to questions about bankruptcy in Mississippi. By Frank Coxwell.

http://mississippibankruptcyhelp.com

Oct 21
Will I Lose My Car Or Truck If I File Bankruptcy?

No. Bankruptcy laws are designed to give you a fresh start without having to start all over again with nothing. As part of your new lease on life you get to keep a certain amount of property for you and your family. This property is called "exempt property." The Mississippi exemptions available for motor vehicles provide up to $10,000 worth of equity in one or more vehicles. Since many vehicles are worth less then the amount that is owed on them it is not usually necessary to use any of your... Posted on October 21, 2009 at 01:13 pm
Oct 21
Will I Lose My House If I File Bankruptcy?

No. Bankruptcy laws are designed to give you a fresh start without having to start all over again with nothing. As part of your new lease on life you get to keep a certain amount of property for you and your family. This property is called "exempt property." The Mississippi exemptions available to homeowner residents are usually sufficient to protect your residence. They allow an individual or couple to retain a homestead consisting of up to 160 acres of land and $75,000 worth of equity in that... Posted on October 21, 2009 at 12:58 pm
Sep 22
What is Chapter 7 In Mississippi?

There are many types of bankruptcy, but only two types that most Mississippi residents would be interested in. Chapter 7 is what people refer to as total bankruptcy, liquidation or complete bankruptcy. Where a Chapter 13 proposes a plan to repay your creditors over set period of months, Chapter 7 wipes out or discharges your debts right away without any payment and gives you a clean slate. The Chapter 7 will still allow you to keep your house and vehicles. The unsecured creditors such as credit... Posted on September 22, 2009 at 01:29 pm

Rank This Week: 2872

New York Bankruptcy Lawyer Blog

Covers bankruptcy and bankruptcy alternatives for individuals and businesses. By Starr & Starr, PLLC.

http://www.newyorkbankruptcylawyerblog.com/

Oct 17
Will I Be Able to Keep My House if I File for Bankruptcy in New York - PART II?

A common question we get from our clients and prospective clients in New York City, Nassau. Suffolk and Westchester Counties is whether they will be able to keep their homes if they file for personal bankruptcy. This is Part II of a two part series on this issue. In Part I we looked at the information we need to answer the question of whether a debtor will get to keep his or home in bankruptcy. In this Part II we will look at different bankruptcy strategies that can be used in different... Posted on October 17, 2009 at 04:27 pm by Stephen Z. Starr
Oct 8
Will I Be Able to Keep My House in New York if I File for Bankruptcy in New York - PART I?

A common question we get from our clients and prospective clients in New York City, Nassau. Suffolk and Westchester Counties is whether they will be able to keep their homes if they file for personal bankruptcy. This is Part I of a two part series on this issue. In this Part I we will look at the information we need to answer the question of whether a debtor will get to keep his or home in bankruptcy. In Part II we will look at different bankruptcy strategies that can be used in different... Posted on October 8, 2009 at 04:17 pm by Stephen Z. Starr
Sep 24
Using Bankruptcy to Stop Wage Garnishment in New York

Many of our clients and prospective clients in Manhattan, Bronx, Queens and other boroughs are facing the difficult situation of a wage garnishment and wonder if a personal bankruptcy filing could help. Just to review, a creditor with a judgment can garnish the defendant/judgment debtor's wages. The law permits up to 25% of a judgment debtor's wages to be garnished in any pay period, not exceeding 10% per year,. Immediately upon filing a personal bankruptcy petition the automatic stay goes into... Posted on September 24, 2009 at 04:06 pm by Stephen Z. Starr

Rank This Week: 2904

Cleveland Bankruptcy Lawyer Blog

Covers consumer protection and bankruptcy issues such as foreclosure, chapter 7, chapter 11, and credit reporting. By Justin M. Smith Co., LPA

http://www.clevelandbankruptcylawyerblog.com/

Oct 12
Will Filing for Bankruptcy Protection Affect My Job?

As bankruptcy filings in Ohio continue to rise, a growing concern among individuals we consult is that they may be fired or face other retaliation by their employer for filing for bankruptcy protection. In the State of Ohio, like most other states, employment is considered to be "at will." This means that an employee can generally be fired for any reason or even no reason, as long as it is not done in violation of certain public policy protections (more on this below). Likewise, an employee is... Posted on October 12, 2009 at 09:11 pm by Justin M. Smith
Sep 16
Ohio Bankruptcy Filers Get Powerful Protection: The Automatic Stay

The automatic stay is a powerful provision in bankruptcy law that immediately stops nearly all collections and creditor actions against a debtor. The automatic stay is invoked automatically with the filing the case. There is no hearing is necessary, the stay arises automatically by operation of law upon filing the bankruptcy petition. This powerful injunction against collections is even effective against creditors that may have no actual knowledge of the bankruptcy filing! Congress has stated... Posted on September 16, 2009 at 08:04 pm by Justin M. Smith
Jun 23
Ohio Businesses Left Out in Credit Card Reform

Ohio businesses will not receive the same benefit as consumers under the new Credit Card Accountability Responsibility and Disclosure Act that will take effect in part this August, with the rest of the provisions kicking in next February (see Help for Ohio Credit Card Holders: Fed Approves Rules to Help Consumers for more details on the changes included in the Act). The new law actually amends the Truth in Lending Act (TILA) and, because the TILA only applies to consumer loans, traditional... Posted on June 23, 2009 at 09:57 pm by Justin M. Smith

Rank This Week: 2935

Florida Bankruptcy Attorney Blog

Covers Chaper 7, 11 and 13 bankruptcies. By The Bartlett Law Firm, P. A.

http://www.floridabankruptcyattorneyblog.com/

Oct 7
GM Bankruptcy Moving Ahead

The judge of the General Motors bankruptcy noted today that the officers of the company were now spending more time on focusing on consumer needs, rather than in bankruptcy efforts, and efforts at Chapter 11 reorganization. This likely represents a step forward for the financially strapped and strained company. Meanwhile, General Motors still has significant reorganization to complete, including (unfortunately) possibly removing up to an additional ten thousand employees from payroll in order... Posted on October 7, 2009 at 10:57 pm by Philip Bartlett
Oct 6
Many Hope Student Loans Will Become Easier to Discharge

As the recession continues and more people are being saddled with significant debt burdens and increasing rates of default, the question continues to arise whether student loans should be discharged in bankruptcy. Prior to amendments a few years ago, it was common and acceptable for people to discharge their private student loans after seven years if they were unable to make the monthly payments. Unfortunately, due to changes resulting from BAPCA, it became virtually impossible to discharge... Posted on October 6, 2009 at 02:39 pm by Philip Bartlett
Oct 2
Unemployment Increases More than Expected

The Bureau of Labor Statistics released a larger than expected increase in the rolls of the unemployed, and the total rate of the unemployed now stands at 9.8%. This kind of activity will cause the economy to only slowly pull out of this monster of a recession that has been affecting us all. If you're considering filing a bankruptcy because of your unemployment situation, definitely give us a call. Often when you file bankruptcy because you are unemployed, and have been unemployed for awhile,... Posted on October 2, 2009 at 10:29 am by Philip Bartlett

Rank This Week: 2954

Arizona Bankruptcy Lawyer Blog

Covers debt negotiation and Chapter 7 and 13 bankruptcy in Arizona. By Michael S. Anderson P.C.

http://www.arizonabankruptcylawyerblog.com/

Oct 5
Arizona Short Sale - If bankruptcy is in your future, be careful

Selling your home "short"&#xe2€&#xa6 What does this mean and why would you want to consider it? When homeowners sell a home "short", they are asking the lender to agree to the sale even though they will not be paid the total amount of the mortgage. The common Scenario: Home purchased in 2006 for $480,000.00. The first mortgage amount is $370,000 and a second for $85,000.00. The house is now worth $320,000.00. A buyer exists who wants to purchase the home for about $320,000.00. If the lenders that hold... Posted on October 5, 2009 at 02:49 pm by Michael S. Anderson
Sep 22
If you have serious credit card debt... can you avoid bankruptcy?

I am not a bankruptcy advocate. I am a client advocate. I don't sell bankruptcy as a commodity. Why? 1. There are other options that may fit the client's situation better financially. 2. The client may have personal reasons for choosing to deal with the debt before relying on bankruptcy. 3. The ethics rules I subscribe to and are required to practice by, demand that I put my client's interest first. 4. Bankruptcy is not always the best option from a financial standpoint. There are those... Posted on September 22, 2009 at 10:42 am by Michael S. Anderson
Sep 21
Ride Thru, Reaffirmation Agreements and the Ninth Circuit Court of Appeals

The Ninth Circuit Court of Appeals, has decided the issue of whether a reaffirmation agreement is necessary in bankruptcy in relation to personal property. Prior to the 2005 changes to the bankruptcy code that resulted in what is now known as "bapcpa", a debtor could "retain and pay" or "ride through" on it's car loan as long as he stayed current on the car payment. The creditor with the security interest in the car was left without any legal obligation to sue on, should the car be surrendered... Posted on September 21, 2009 at 05:57 pm by Michael S. Anderson

Rank This Week: 2971

Saddleback Valley Bankruptcy...

Saddleback Valley Bankruptcy Center

Provides consumer bankruptcy information. By Steven Feldman.

http://www.theLegalFixer.com

Oct 4
Debtors Can No longer Retain Vehicle by Making Monthly Payments Without Reaffirming or Redeeming

Dumont v. Ford Motor Credit Company (In re Dumont) 9th Circuit Court of Appeals Case No. 08-60002, September 15, 2009 Ford Motor Credit Company repossessed a Chapter 7 debtor's vehicle, without any warning, about three months after discharge, when she was current on her post-petition monthly payments. (The record is unclear whether she had ever defaulted on payments pre-petition.) The balance on the loan exceeded the value of the vehicle. The contract contained an "ipso facto" clause, stating... Posted on October 4, 2009 at 11:54 am by Steven Feldman
Jul 28
How To Deal With Bankrupt Business Buyers

Clipped from Forbes.com with edites: 06.23.09, 6:00 PM ET Getting paid is getting harder. Not because more customers are trying to conserve cash by extending payment terms, but because they are going out of business altogether. According to BankruptcyData.com, a research firm that tracks such filings, 114 publicly held U.S. companies filed for bankruptcy so far this year, versus 57 during the first six months of 2008, and 33 in the same period of 2007. Sadly, this year's $368 billion of write... Posted on July 28, 2009 at 08:53 am by Steven Feldman
Jul 27
Obama Plan on Tax Havens Faces Resistance in Congress

Adopted from a Ryan J. Donmoyer article dated May 5 in (Bloomberg): President Barack Obama's plan to end tax breaks for U.S.-based multinational companies drew a skeptical response from fellow Democrats on Capitol Hill, indicating that his proposal may face obstacles in Congress. Senate Finance Committee Chairman Max Baucus, a Montana Democrat, called for "further study" of Obama's proposals within minutes of the president's announcement yesterday. Joseph Crowley, a Democrat on the tax-writing... Posted on July 27, 2009 at 09:42 am by Steven Feldman

Rank This Week: 2977

Chicago Bankruptcy Blog

Covers chapter 7 and chapter 13 bankruptcy. By Leeders & Associates.

http://chicago-bankruptcy.blogspot.com/

Sep 24
You'd better list all debts in your bankruptcy case......

A recent 7th Circuit Case In re: Smith, No. 08-3358 (9/23/09). Appeal, N.D. Ill., E. Div. Affirmed ruled that is was permissible to let 2 civil action cases continue in state court (regarding sexual assault against debtor-physician) because the debtor did not list the debt on Schedule F of the bankruptcy petition. The creditors did not get notice until the debtor tried to transfer the case to the state court bankruptcy calander about 2 weeks before the objection to dischargeability deadline in... Posted on September 24, 2009 at 02:20 am by Terry
Sep 1
Fixing those pesky problems on your credit report

Here is a frequent statement I hear from my bankruptcy clients when they review their bankruptcy petition before filing: "That debt isn't mine." I usually reply: "But it is on your credit report" I have heard, that over 60% of all credit reports have errors on them. Some may be as small as an incorrect spelling of a name, or an incorrect address, however, it could be someone else's information, such as a wrong social security number, or worse....someone may have stolen yours and is running up... Posted on September 1, 2009 at 08:22 am by Terry
Jun 3
Schaumburg Illinois bankruptcy attorney

We are pleased to announce the opening of our new suburban office location. Our new office is located in Schaumburg, Illinois. 1821 Walden Office Square #400, Schaumburg, Illinois 60173 Click for : Map and driving directions This office is by appointment only, with office hours on Saturdays from 9am to 12pm. We handle bankruptcy cases, divorce cases, real estate closings, and personal injuries. Contact us now to schedule a free consultation. Leeders & Associates, Ltd. 312-427-7400 Posted on June 3, 2009 at 08:53 am by Terry

Rank This Week: 3024

Oregon Bankruptcy Lawyer Blog

Covers bankruptcy law, foreclosure, and consumer credit issues. By Calvin Knickerbocker.

http://www.oregonbankruptcylawyerblog.com/

Sep 9
THE RICH ARE NOT IMMUNE: CHAPTER 7 AND CHAPTER 11 BANKRUPTCY FILINGS ARE WAY UP FOR THE HIGHEST EARNERS AMONG US.

So maybe the 'rich' wont be able to pay for all those new tax hikes and fee's. It looks like their own bankruptcy filings are on the increase and their household budgets are tight like the rest of us. The Bloomberg article notes an increase in Chapter 11 bankruptcy filings for the highest income folks in the U.S. It seems like the primary driver in these increase in bankruptcy filings is...wait for it....real estate. Too much mortgage and not enough value have put even the rich into a cash... Posted on September 9, 2009 at 10:05 am by Calvin Knickerbocker
Aug 31
Will His Freezer Full of Cash be Exempt in a Chapter 7 Bankruptcy?

After a quick consult this morning with a potential bankruptcy client I came across this article detailing that former U.S. Representative William Jefferson filed a personal Chapter 7 bankruptcy last week. Mr. Jefferson was once found with a freezer full of cash to the tune of about $90,000 and was recently indicted on corruption charges. Details about the bankruptcy are in the article. The one thing that struck me is that I usually tell my bankruptcy clients that its rare that a Trustee will... Posted on August 31, 2009 at 12:40 pm by Calvin Knickerbocker
Aug 24
Oregon Bankruptcy Lawyer Talks About a Rise in Business Bankruptcy Filings

Oregon Bankruptcy Lawyer Talks About a Rise in Business Bankruptcy Filings My bankruptcy practice mostly deals with personal (consumer) bankruptcy filings, both Chapter 7 and Chapter 13 cases. However this article details the other side of the filing spectrum, business bankruptcy. In total, business filings have increased by over 60% from 2008 numbers. This includes over one hundred percent increase in Chapter 11 filings and about a 50% increase in Chapter 7 business filings. These numbers... Posted on August 24, 2009 at 12:26 pm by Calvin Knickerbocker

Rank This Week: 3067

Portland Bankruptcy Lawyer Blog

Covers consumer bankruptcy and debt consolidation. By Calvin Knickerbocker.

http://www.portlandbankruptcylawyerblog.com/

Sep 2
Consumer Bankruptcy Filings Continue to Rise

Just got back into my Tigard office from a short 341 Chapter 7 Hearing and saw this article in my inbox. Just like last month consumer bankrutpcy filings, both Chapter 7 and Chapter 13's, continue to rise. "Consumers continue to turn to bankruptcy as a shield from the sustained financial pressures of today's economy," said Samuel Gerdano, the executive director of the American Bankruptcy Institute. "As a result, we expect consumer filings to top 1.4 million this year." At this pace its going to... Posted on September 2, 2009 at 01:37 pm by Calvin Knickerbocker
Aug 25
Out of Country Property: Do I Have To List That Down in my Bankruptcy?

A good question came up the other day from one of my prospective bankruptcy clients. They asked what would happen to their real estate holdings in another country if they choose to file a Chapter 7 bankruptcy with my firm. They also asked if it was something that had to be disclosed since it was not in the U.S. The first question is a bit tricky so I'll address the second part first. Yes. You must disclose the foreign property in your bankruptcy petition. The law makes no distinction between... Posted on August 25, 2009 at 01:42 pm by Calvin Knickerbocker
Aug 20
Portland Bankruptcy Lawyer Discusses New Mortgage Value Numbers

Portland Bankruptcy Lawyer Discusses New Mortgage Value Numbers: In my bankruptcy practice most news releases that I monitor show the Portland, Oregon area in a negative light. While the info below is not great it does show the Portland area mortgage to value ratio's are holding somewhat firm and that for a change we are not the worst in the country. "First American CoreLogic's Negative Equity Report shows about 24 percent of all Portland-area mortgage holders owed more on their home than it... Posted on August 20, 2009 at 01:09 pm by Calvin Knickerbocker

Rank This Week: 3096

Debtors' Advocate

Covers bankruptcy, credit scores and mortgages. By Kimberly A. Coleman.

http://debtorsadvocate.wordpress.com

Aug 24
On My Way Back – Bankruptcy and Family Law Issues

Hello everyone. I have been absent from posting on the blog for almost a month due to a death in my family but I will begin posting again regularly sometime this week. In fact, I am going to begin a series of blog articles on the intersection of bankruptcy and family law issues [...] Posted on August 24, 2009 at 11:59 am by Kimberly Coleman
Jul 27
More Individuals Qualify To File A Chapter 7 Bankruptcy Than You Might Think

There is a lot of misinformation out there as to who can and who cannot file a Chapter 7 bankruptcy. Some people will lead you to believe that since the passage of the new bankruptcy laws in 2005, only individuals with extremely low incomes can file a Chapter 7. This is another bankruptcy [...] Posted on July 27, 2009 at 06:48 pm by Kimberly Coleman
Jul 22
Bankruptcy Fraud – Misleading The Court Can Get You In Big Trouble

A forty year old man in Iowa, Keith Chapman, recently pled guilty to bankruptcy and tax fraud admitting that he made false statements in bankruptcy proceedings for Chapman Lumber. According to the Associated Press as reported by the Chicago Tribune, the Court records indicated that Mr. Chapman diverted more than $450,000 from the company [...] Posted on July 22, 2009 at 09:20 am by Kimberly Coleman

Rank This Week: 3123

Texas Collection Law Blog

Covers Texas debt collection and bankruptcy law. By Cary & Lippincott.

http://carylippincott.blogspot.com/

Aug 21
Public Works Bond Claim Case

A recent case, brings good news for material suppliers and subcontractors. The Texas Supreme Court ruled in favor of an unpaid supplier regarding statutory and common law claims, even though the unpaid material supplier missed their bond claim deadlines. In Dealers Electrical Supply Co. v. Scoggins Construction Co. Inc., 2009 WL 1901638, Slip op No. 08-0272 (Tex. July 3, 2009), an electrical subcontractor on a bonded public-works project walked off the job and left his parts supplier, Dealers,... Posted on August 21, 2009 at 06:33 am by Sarah Massingill
Jun 2
Part 5: Public Works Construction Projects & Subcontractors: Prime Contracts Over $25,000.00 & Rights to Information from Prime Contractors and Gover

Subcontractors are entitled to certain information upon written request and public owners (governmental entities) and prime contractors are required to furnish the information. Subcontractors can request the following information / documentation from prime contractors: (1) the name and last known address of the governmental entity with whom the prime contractor has its contract; (2) a copy of the payment and performance bond for the project; and (3) the name of the surety issuing the payment... Posted on June 2, 2009 at 08:24 am by Sarah Berry
May 15
Part 4: Public Works Construction Projects & Subcontractors: Prime Contracts Over $25,000.00 & Retainage

Like in private construction projects, in public works projects, general contractors hold back part of the contract price until the subcontractor fulfills the contract as "retainage." The amount withheld is a percentage of the total contract price, often around 10%. The retained money is supposed to be paid to the subcontractor after the public works contract (the contract between the governmental entity and the general contractor) is completed. If the general contractor does not pay the... Posted on May 15, 2009 at 12:19 am by Sarah Berry

Rank This Week: 3129

Seattle and King County Bankruptcy...

Seattle and King County Bankruptcy & Debtor Rights Attorney Blog

Discusses bankruptcy law for individual and business debtors. By David H. Fuller.

http://bankruptcy.toughtimeslawyer.com

Aug 13
81% Increase In Small Business Bankruptcies Last Year

By: David H. Fuller Seattle Bankruptcy Lawyer Small Business Bankruptcy Is On the Rise Data shows that small business bankruptcies have skyrocketed by 81% over the last year. This data comes from the latest Equifax survey of its Comprehensive Small Business Database. (Article) This increase in small business bankruptcy is due to both the underlying causes of the recession and the ongoing effects of that recession. Small businesses depend on access to capital. For most small businesses this is... Posted on August 13, 2009 at 10:58 am by David Fuller
Aug 4
Mortgage Modifications

Mortgage Modification Instead of Bankruptcy? That's the question I get from my clients. Unfortunately the answer is "almost never." The government instituted a sweeping, $50 billion mortgage modification program designed to keep people in their homes and reduce the rate of foreclosures. New data indicates that this is not happening. A new report shows that only 9% of all eligible homeowners have received modifications. Ten banks are not participating at all. Some of the biggest lenders are well... Posted on August 4, 2009 at 10:55 am by David Fuller
Mar 27
Seattle Bankruptcy Lawyer Homepage - Serving the Seattle, Kent, Tacoma Area

Seattle bankruptcy lawyer gets you a fresh start. Debt is not your fault. Times are tough, unemployment is up, cost of living is up, and wages are down. Thousands of people file bankruptcy every month. Bankruptcy is a safe and responsible way out of debt. David Fuller is a Seattle bankruptcy lawyer who can get you a fresh start. Chapter 7 Bankruptcy: Chapter 7 takes care of most debts in about 90 days. Once you file chapter 7, the creditors stop harassing you and debt payments stop. You can... Posted on March 27, 2009 at 03:29 pm by David Fuller

Rank This Week: 3146

theBKBlog

Personal Bankruptcy tips and tricks. By Jonathan Ginsberg.

http://www.thebklawyer.com/thebkblog

Oct 24
Will a Personal Bankruptcy Affect my Small Business if I am Self Employed?

With a sluggish economy, I have met with an increasing number of small business owners who are considering personal bankruptcy to deal with credit card debt and personal loans, but who want to keep their business assets and credits separate. Is this possible. First, it does make a difference whether the small business is incorporated. If your small business is a proprietorship (i.e. "Tom Smith d/b/a Tom's Lawncare") then there is no way to separate personal assets and debts from business assets... Posted on October 24, 2009 at 12:29 pm by Jonathan
Oct 18
FDCPA Does Not Give Debt Collector the Right to Leave Messages on Your Phone Answering Machine

As you may know, there are both federal and state laws that offer a variety of protections to individuals who are in debt and who are being dunned by debt collectors. The Fair Debt Collection Practices Act offers a variety of protections in cases involving collection agencies (as opposed to the actual creditor). In other words, a credit card company can do and say certain things and remain legal, but if a collection agency does or says the exact same things, those actions would be a violation... Posted on October 18, 2009 at 09:01 am by Jonathan
Oct 13
Median Income Numbers for Georgia Go DOWN!

For the first time since means testing was instituted in 2005, the median income number in Georgia have gone down. This means that potential Chapter 7 debtors will have a more difficult time avoiding a "presumption of abuse" and the extra cost and hassle of means test calculations. Here is a comparison table Current Median Income Numbers Median Income numbers after November 1, 2009 Family size 1 $40,760 $40,691 2 $54,054 $55,258 3 $61,959 $61,104 4 $71,554 $68,502 Let's consider how... Posted on October 13, 2009 at 09:37 am by Jonathan

Rank This Week: 3147

California Foreclosure Blog

Covers bankruptcy and foreclosure. By Jason S. Buckingham.

http://jasonbuckingham.activerain.com/

Jul 21
Phoenix mini-bubble: (more) market manipulation

AP put out a story yesterday about "bidding wars" that are affecting home values in the greater Phoenix area. The article states that in several markets throughout the country, prices on bank-owned homes are being inflated by a combination of investors keen on getting a deal, regular home buyers (many of them first time buyers), but mainly by the fact that lenders are not putting homes on the market as fast as they are taking them back in foreclosure. The proof: for each of the last four months... Posted on July 21, 2009 at 08:12 am
Jun 16
California "foreclosure moratorium": will lenders even care?

I've been receiving many calls and emails about California's so-called foreclosure moratorium, which went into effect yesterday. Frankly, I doubt it will actually do anything meaningful for struggling homeowners. Here's why: Loan servicers can qualify for an exemption simply by filing a form with the state that claims the loan servicer has a modification program intended to keep people in their homes. Nothing in the law requires loan servicers to actually implement the programs (you know, where... Posted on June 16, 2009 at 07:24 am
May 27
Has the foreclosure crisis hit bottom? Don't bet on it

So it seems we have a variety of opinions regarding the proverbial bottom of the market: folks with vested interests in a thriving real estate market, like Zillow.com and commercial real estate mogul Sam Zell, claim that there are signs the market will improve in the next few months. Well, actually, Zillow did an opinion poll of users and reported that a majority of respondents think the market has hit bottom...wishful thinking, perhaps? Meanwhile, economists familiar with the details of the... Posted on May 27, 2009 at 06:30 am

Rank This Week: 3203

Due Diligence

Covers consumer bankruptcy. By Linda Rantz.

http://rantz.biz/duediligence

Jul 4
Assignments and Receiverships

There are certain questions on the Statement of Financial Affairs that have never applied to cases on which I have worked, so I realize I have sort of "tuned them out." Ask me which questions have to do with garnishments, attorney fees, income, court cases, business info, etc. and I can tell you the question number in an instant. But when I saw the title of a blog post titled "Statement of Financial Affairs: Question 6," my mind drew a blank. What is question number 6? Well, it's actually two... Posted on July 4, 2009 at 10:17 pm by Linda Rantz
Jul 4
Not making mistakes on bankruptcy petitions

My aim is to prepare a mistake-free bankruptcy petition. As a virtual bankruptcy paralegal, I spend hours fine tuning the petition and schedules &#xe2€&#xa6 asking questions of the attorney and clarifying details with the client.I don't believe a "perfect" petition is possible (we're all human after all), but I do have my routine topics that I always double-check with the client: Social Security Number - Nothing will irk me more than having to amend the SSN. How can the client sign the Statement of... Posted on July 4, 2009 at 09:16 pm by Linda Rantz
Apr 14
Understanding Short Sales

I don't think I heard the term 'short sale' used much by the general public before 2007 or 2008, but now it seems to be used as commonly as 'foreclosure.' More and more clients mention 'short sale' when I am speaking with them to clarify information on their intake questionnaire. Somehow they got the idea that a short sale would be good for them based on advice from radio programs, commercials, and even well-meaning friends and relatives. As a bankruptcy paralegal, I cannot give advice about... Posted on April 14, 2009 at 10:36 am by Linda Rantz

Rank This Week: 3227

Alabama Consumer Lawyer Blog

Covers bankruptcy, credit card fraud, debt collection, and predatory lending. By Sharbrough Law Firm.

http://www.alabamaconsumerlawyerblog.com/

Feb 24
Consumers and Lawyers Beware of Credit Card Companies Bearing Gifts

Bankruptcy and consumer lawyers in Alabama and elsewhere should be aware of American Express's attempt to subvert bankruptcy laws with respect to preference payments. American Express has announced a plan to pay some of its card members $300 to pay-off their cards and close their accounts. American Express says its offer is to help consumers "simplify" their finances. However, it is clear; American Express is trying to induce consumers to pay it first. As many remember, the "Bankruptcy Abuse... Posted on February 24, 2009 at 06:42 am by John W. Sharbrough
Feb 22
The Bankruptcy Option

As an Alabama consumer lawyer I see more and more clients who are "over-extended" and having tough times economically. Deciding whether or not to file bankruptcy is one of the most difficult decisions a person can make. However, bankruptcy no longer carries the stigma it once did. This is especially true during these particularly dire economic times. Many of the country's largest and most prestigious institutions, like Lehman Brothers, have fallen on hard times and sought relief in bankruptcy.... Posted on February 22, 2009 at 09:35 am by John W. Sharbrough
Feb 20
Frequently asked Questions for Borrowers about the Homeowner Affordability and Stability Plan

Borrowers Who Are Current on Their Mortgage Are Asking: 1. What help is available for borrowers who stay current on their mortgage payments but have seen their homes decrease in value? Under the Homeowner Affordability and Stability Plan, eligible borrowers who stay current on their mortgages but have been unable to refinance to lower their interest rates because their homes have decreased in value, may now have the opportunity to refinance into a 30 or 15 year, fixed rate loan. Through the... Posted on February 20, 2009 at 08:50 am by John W. Sharbrough