Random Bankruptcy Audits
By Richard Stokan on 2/08/10 | 1 Comment(s)
Since 2006, debtors filing for bankruptcy protection have been subject to random audits. As part of the reforms of the Bankruptcy Abuse and Prevention Consumer Protection Act of 2005 (BAPCPA), Congress required random audits to verify the accuracy and completeness of debtors’ bankruptcy filings. 28 USC 586(f). The targets are randomly selected and average approximately Read more>>
What Is the Rule With Cars and Bankruptcy?
By Moderator on 2/06/10 | 0 Comment(s)
Three important points to consider regarding cars and bankruptcy:
1. How much “equity” do you have in your car? As we’ve discussed on previous posts, a car or any other asset is only subject to liquidation in chapter 7 bankruptcy if there is non-exempt equity. Every state allows debtors to protect a certain amount of equity Read more>>
Sixth Circuit Court of Appeals Looks at Bankruptcy Proof of Claim Requirements in B-Line L.L.C. v Wingerter
By Drew Broaddus on 2/05/10 | 0 Comment(s)
As I recently discussed here, one important step in a Chapter 7 or Chapter 13 bankruptcy case is the filing of the “proof of claim.” A proof of claim is a document a creditor files with the Bankruptcy Court to prove that the debtor owes a debt to that particular person or entity. One recent Read more>>
You have to name it to claim it!
By Jay Jump on 2/03/10 | 0 Comment(s)
I just filed a case where we listed a potential FDCPA claim in my client’s bankruptcy schedules. She had been harassed by a debt collection agent who had left an inappropriate voicemail on my client’s answering machine. It was heard by people who were beyond the scope of FDCPA communication and it was Read more>>
Bankruptcy and Co-signers
By Richard Stokan on 2/03/10 | 0 Comment(s)
Before filing for consumer bankruptcy protection a debtor should consider the type of debt that will be affected. If any debt is secured by a co-signer, filing for bankruptcy could place the co-signer in the position of being compelled to cover the debt.
Regardless of whether a debtor is seeking a Chapter 7 discharge or Chapter Read more>>
What Is the Rule With Homes and Bankruptcy?
By Moderator on 2/02/10 | 2 Comment(s)
There are generally two:
First, if you wish to keep your home, you’re going to have to be able to pay the mortgage. Bankruptcy can eliminate unsecured debt such as credit cards, but requires that secured debts be paid after filing if the debtor wishes to keep the colatteral (car, home, boat etc.) In some cases, Read more>>
Legal Research for your iPhone, iPod Touch and new iPad !
By John Rogers on 1/30/10 | 0 Comment(s)
Today, legal publisher Fastcase has announced that they have released the world’s first legal research app, available for the iPhone, iPad, and iPod Touch according to PRWeb.
The app will be the largest law library on the iPhone, available as a free download, and will allow free searching of the company’s national law library of both Read more>>
Eastern District of Michigan Bankruptcy Court Issues Notice Regarding Tax Refunds in Chapter 13 Cases
By Drew Broaddus on 1/29/10 | 0 Comment(s)
On January 27, 2010, the U.S. Bankruptcy Court for the Eastern District of Michigan (which covers Detroit, Bay City, and Flint) posted a notice on its website regarding the treatment of tax refunds in Chapter 13 cases. The notice (available here) reports that on January 20, 2010, in an action brought by the Internal Revenue Read more>>
I Can’t Afford To Pay My Medical Bills, Is Bankruptcy an Option?
By Moderator on 1/29/10 | 0 Comment(s)
Unfortunately, the term “medical bankruptcy” is becoming widespread in our country. Indeed, Facing a necessary medical procedure without health insurance can cause severe financial hardship. In fact, even those who have health insurance can struggle to make payments. According to CNN Health and the American Journal of Medicine, 60% of personal bankruptcies are caused by medical expenses:
“Bankruptcies Read more>>
Why you should never give up !
By John Rogers on 1/29/10 | 0 Comment(s)
This excerpt about the author J.K. Rowling, of the popular Harry Potter series, from The Writers Almanac, by Garrison Keillor, is, I think, a very good example for folks that are down on their luck to ponder:
“Rowling grew up in rural England. She tried writing a couple of novels, but never finished them. One day Read more>>
