Category archive for ‘State Specific Bankruptcy Issues’ 
New Mexico Leads the Way in Combating Foreclosure
by John Rogers on 3/02/10 | 0 Comment(s)
“As the Obama administration works up its 12,487th plan for keeping underwater homeowners in their homes, New Mexico’s legislation had the courage and good sense to do the obvious: let foreclosed homeowners stay in their home as renters. The New Mexico legislature voted to allow homeowners in houses that sell for less than the median Read more>>
Can Creditors Call My Family and Friends?
by Lillian Watson on 1/26/10 | 0 Comment(s)
Many clients come to me distraught by the fact that a creditor has called a parent, relative or friend about an unpaid debt of the client. The question is always “Can they do that?” and “How can I stop it?” The emotional toll of fielding constant collector calls is overwhelming especially when there are children Read more>>
Does Florida’s homestead exemption apply to mobile homes in bankruptcy?
by Lori Patton on 12/19/09 | 0 Comment(s)
Short Answer: Yes
Long Answer: Yes, and it is still permissible to also claim the wildcard exemption in bankruptcy if the mobile home sits on a lot rented and not owned by the homeowner.
Some explanation now: In Florida, a homeowner may exempt 100% of the value of their home from the bankruptcy estate, which means you Read more>>
HSBC Sells Auto Loans to Santander
by John C. Colwell on 11/12/09 | 0 Comment(s)
Here in San Diego, HSBC is, or at this point, was a major player in the auto loan financing industry. Over the last few years, HSBC had purchased and merged into their operations, the auto loan portfolios of numerous smaller lenders throughout California, and presumably, the entire U.S. We have known for over a year Read more>>
Household Size and the Means Test
by Richard O'Connor on 11/12/09 | 2 Comment(s)
The “Means Test” was implemented in 2005 as a way of preventing consumers with the ability to pay back their debts from filing for chapter 7 bankruptcy. Determining a household size for purposes of the Means Test can be simple or complicated depending on the family. The proper method for determining household size is an Read more>>
Can I surrender out of state investment property by filing bankruptcy locally?
by John O'Connor on 11/10/09 | 2 Comment(s)
You’ve recently moved. You’ve found a new job, schools for the kids and a new favorite watering hole. One problem lingers…….your out of state real estate. Whether its an investment property or an old family home that didn’t sell, many people these days find themselves burdened by out of state real estate. In North Carolina, Read more>>
Love and Marriage (and Bankruptcy), Part 2: Who Has to Pay for What After Divorce?
by Steve Combs on 9/28/09 | 4 Comment(s)
Section 523(a)(5) of the Bankruptcy Code provides that a domestic support obligation is exempt from Discharge. What this means is that child support, alimony, and any debt classified as a “support obligation” will typically survive bankruptcy. What is less clear, though, is what happens to property settlements in bankruptcy. It is well known that regardless Read more>>
Love and Marriage (and Bankruptcy), Part 1: Are Both Spouses required to file?
by Steve Combs on 9/28/09 | 1 Comment(s)
As a former state court Magistrate who presided over nearly 18,000 family hearings and the former President of the Florida Association of General Magistrates and Child Support Hearing Officers, practicing Bankruptcy law has provided me a real change of pace. I am amazed, though, when I look at the interplay Read more>>
