News & Analysis as of

Eleventh Circuit Doubles Down on Lien Stripping

When the Fourth Circuit handed down its opinion in the case of In re Davis, which permitted lien stripping in “Chapter 20” proceedings, the stage was set for the Eleventh Circuit to expand debtor’s ability to escape from...more

Fresh Starts in Chapter 7 and Finishing the Race in Chapter 13: Bankruptcy Positives

Many years ago I read an article in the Los Angeles Times that cited a statistic to the effect that nearly all people who filed Bankruptcy, regretted it. Something like 90 percent. I am not sure how that figure was...more

Dischargeability of Student Loan Debt in Bankruptcy

Title 11 U.S.C. § 523(a)(8) of the United States Bankruptcy Code provides that, in order to obtain a discharge of an otherwise nondischargeable student loan, an individual in bankruptcy (the “debtor”) must establish that he...more

Can I File for Chapter 13 Bankruptcy Even if I Qualify for Chapter 7?

Some individuals pass the means test for Chapter 7 bankruptcy. Yet they also have income that might allow them to repay their creditors under more favorable terms. This option might be preferable to individuals who wish to...more

Should you avoid bankruptcy?

For many people, bankruptcy is something to be avoided at (almost) all costs. Is that a good policy for you to follow? Let's take a look....more

Paying Attorney’s Fees Not Reason to File Chapter 13

Of the three most common chapters of the Bankruptcy Code, Chapter 7 offers an insolvent individual the freshest of starts; yet it is not without its pitfalls. Under Chapter 7 a debtor is not permitted to pay his attorney in...more

Caveat Debtor: Disgorging Inheritance in Chapter 13 Cases

A recent case out of the 9th Circuit, In re Dale, revives a controversial subject for Chapter 13 debtors: whether an inheritance received more than 180 days after commencement of the case is part of the bankruptcy estate. ...more

The Big “B” – Bankruptcy on the Construction Project

It’s not often that I find myself in bankruptcy court, but there I was. A lone construction attorney surrounded by bankruptcy lawyers speaking in a foreign tongue – “cram down!,” “cash collateral!,” “executory...more

Right Or Wrong, Dewsnup Is Law

A Chapter 13 debtor sought to void a federal tax lien under Section 506(d) of the Bankruptcy Code to the extent that it exceeded the value of his assets. The Seventh Circuit joined the Tenth Circuit in holding that the U.S....more

Wait until you're sued to file bankruptcy, or file earlier?

Many people wait until they're sued by a creditor to file bankruptcy. After all, filing bankruptcy stops all creditor actions against you, including lawsuits. But if your financial life is "going South", should you wait that...more

Tax refunds and bankruptcy. Do they go together?

Now that it's the year 2014, are you expecting a refund on your taxes for 2013? If so, are you also thinking about filing bankruptcy? Let's see how that might work....more

Are School Tuition Payments Fair Game For Bankruptcy Trustees in Parents' Personal Bankruptcy?

Parents who are forced to file for personal bankruptcy may be surprised to find that school tuition payments they made for their children years earlier could become the target of recovery by an aggressive bankruptcy trustee. ...more

Protect your credit score or get out of debt through bankruptcy?

You've probably seen ads on TV boasting that your FICO credit score is included in that company's credit card statements. Is that important? Probably only to the credit card companies. Let's see why....more

I filed bankruptcy before and now I need to file again!

I filed bankruptcy before and now I need to file again. Is there a problem with that? As with many questions, the short answer to that is "it depends". The following are the two issues to consider....more

My father cosigned my car loan. What will happen if I file bankruptcy?

I needed my father to cosign my car loan for me. Now I need to file bankruptcy. Will my father need to pay off that loan? In general, your father will still be liable on that loan if it's not paid in full. After all,...more

Chapter 20 in the Eleventh Circuit: Modification of Secured Claims Impermissible Without Discharge

Nearly a year ago to the day, we published a post regarding the uncertainty that bankruptcy practitioners and lenders faced when a Chapter 7 debtor received a discharge, and subsequently filed a Chapter 13 petition to strip...more

New Arizona Means Test Numbers – Do You Still Qualify for Chapter 7 Bankruptcy?

Starting on November 15, 2013 there will be updated means test numbers here in Arizona for chapter 7 bankruptcy filers. What does this mean? Let me back up and start with what the “means test” is....more

The Useful Options in a California Bankruptcy

How, when and why people file for bankruptcy has changed over the years. Throughout this time, it has been a legal means to manage debt, pay off creditors as best as possible and enable the filer to regain a solid financial...more

You May Not Have To Go Bankrupt

Filing for bankruptcy is not a decision that should be taken lightly. When debt amasses, it is natural to feel backed against a wall. But remember that declaring Chapter 7, Chapter 11 or Chapter 13 bankruptcy means serious...more

Two Hurdles to Chapter 7 Bankruptcy

Most people I meet with to discuss bankruptcy want to file a chapter 7 bankruptcy. They may not know exactly what a chapter 7 is, but they want their debt to go away and go away and quickly as possible. Chapter 7 bankruptcy...more

Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling  [Video]

May 15 (Bloomberg Law) -- Trustees of all types are sleeping easier, knowing that their liabilities for theft by a co-trustee is a debt that can be wiped out in bankruptcy as a result of a unanimous Supreme Court decision...more

Bankruptcy in Arizona’s Improving Economy

Things have been bad for a long time. Here in Arizona bankruptcy filings have been near 40,000 per year for several years. However, this year things seem to be improving. Bankruptcy filings are down – significantly. That...more

Chapter 7 Bankruptcy or Chapter 13 Bankruptcy – Which is Better?

In the grand scheme of things most would consider this a lose/lose situation. I mean, who really want’s to file for bankruptcy. No one. That’s who. But if you find yourself in the position of needing to file bankruptcy...more

In a Wreck, Need a Check? Personal Injury Claims in an Arizona Bankruptcy

If you have been in an car accident or injured and now have a claim against the person who did the injuring (is that a word??), then what happens to this claim if you file for bankruptcy here in the great State of Arizona? ...more

Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing  [Video]

March 13 (Bloomberg Law) -- Someone who bought stock in American Airlines last year already made a killing. Stock that could have been bought in November for less than 40 cents a share is now trading above $4, for...more

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