Consumer Bankruptcy

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
News & Analysis as of

Reorganization in Chapter 13: How it Works

Nearly 1.2 million Americans filed for bankruptcy in 2012. Of those, 70 percent filed under Chapter 7 of the bankruptcy code, meaning that although their assets had to be sold off, they were able to walk away from most of...more

Protect Your Estate from Beneficiary Bankruptcy: Lessons from Clark v. Rameker

In the preparation of a comprehensive estate plan for a client, an attorney must consider the size of the estate, the manner in which assets are titled, transfer and income tax issues, and family dynamics. In light of the...more

Fannie Mae Issues Fact Sheet on Prior Derogatory Credit Event Policies

On September 8, Fannie Mae published a fact sheet about borrower eligibility after a derogatory credit event. The fact sheet reviews Fannie Mae’s recently updated policy related to the minimum waiting periods following a...more

I filed bankruptcy before, so I can't do it again. Wrong!

Someone said that to me at a dinner party recently as if it ware an established fact. But the truth is that it's completely wrong. Let's look at the truth of about that....more

Don’t Let Your Bankruptcy Define Who You Are

Over the years I have helped a lot of families that I personally know with their bankruptcy case. I have always appreciated that friends and family would feel comfortable coming to me to discuss their personal financial...more

To Caesar, Only What Is Due - An Opportunity under § 505(a)(2)(C) for Ad Valorem Taxes?

Plagued with financial uncertainty and inadequate resources, debtors often fail to take the steps that are needed to minimize property taxes in the period leading up to bankruptcy. Tax protests go unfiled and valuations go...more

Abandonment: When Property Drops Out of the Bankruptcy Estate

In re Rich, 510 B.R. 366 (Bankr. D. Utah 2014) – In a case that was converted from a chapter 11 reorganization to a chapter 7 liquidation, the debtor sought an order directing the trustee to abandon certain real...more

Automatic Stays Help You Deal with Creditors During Bankruptcy

One of the immediate results of filing for bankruptcy in Bakersfield is relief from creditors. This benefit is called an automatic stay. As soon as your paperwork is filed in court, the automatic stay goes into effect,...more

How Prior Bankruptcy Filings Can Impact Your Current Bankruptcy

If you have read much at all on my bankruptcy blog you will no doubt be familiar with my mantra – “no one wants to file for bankruptcy”. And while I believe that to be true, some people find themselves in a situation where...more

Improperly Indexed Mortgage: How Far Does Your Record Review Need to Go to Be Safe?

Albert v. Green Tree Servicing, LLC (In re El Erian), 512 B.R. 391 (Bankr. D. D.C. 2014) – A chapter 7 trustee sought to avoid the lien of a recorded deed of trust because (1) it contained both correct and incorrect...more

If I file bankruptcy, I'll never have credit again. Wrong!

I often hear some version of this incorrect idea, so let's take a quick look and see what the reality is about having credit after filing bankruptcy....more

Ninth Circuit: Banks Can Freeze Chapter 7 Debtors’ Accounts

Banks have long taken comfort in knowing that if one of their customers files for bankruptcy, the bank can freeze the debtor’s account to preserve the bank’s ability to assert a setoff against the account where the bank has a...more

Does Filing for Bankruptcy Really Give You Tax Relief?

When times get desperate and tax liabilities pile up – filing for bankruptcy is an option many people consider. Taxes are “dischargable” in bankruptcy, but there are important rules you need to know....more

Everyone will know I filed for bankruptcy. Wrong!

People interested in filing bankruptcy are often fearful that their neighbors and co-workers will find out. Let's take a look at what's so about that....more

Who Will Think of the Tenants: Split in Authority Regarding the Interplay Between Bankruptcy Code Sections 363(f) and 365(h)(1)(A)

A useful tool granted to trustees (and debtors-in-possession) in bankruptcy is the ability to assume or reject leases.1 The trustee can exploit this power to the estate's economic advantage, either assuming or rejecting the...more

Congress pretty much eliminated bankruptcy in 2005. Wrong!

The rumor is still going around that Congress pretty much eliminated bankruptcy with the new bankruptcy laws of 2005. Nothing could be further from the truth. Let's take a look at what the truth is about bankruptcy after...more

BROKEn Promises: 3 Signs your Tenant may be Going Bankrupt

The bankruptcy of a tenant is disruptive and may be confusing to a landlord; however, arming yourself with knowledge of some warning signs of financial distress and an understanding of your basic rights will, along with your...more

Mortgage Enforcement: Dot Those “i”s and Cross Those “t”s – Or Else

A chapter 13 debtor objected to the portion of a mortgagee’s claim consisting of expenses related to foreclosure of its mortgage. She argued that since the mortgagee failed to comply with notice requirements under the...more

Property Tax Foreclosure: Tax Authority May Have to Pay for Equity in Property

A chapter 7 trustee sought to avoid a property tax foreclosure as a fraudulent transfer and then to recover damages from the foreclosing county. The bankruptcy court agreed that the transfer was a fraudulent conveyance, but...more

Bankruptcy Appellate Panel Holds That Contempt Proceedings Filed Against Debtor Were Not Subject To Automatic Stay

In In re Dingley (August 6, 2014) --- B.R. ----, 9th Cir.BAP (Nev.), the Ninth Circuit Bankruptcy Appellate Panel ("BAP") held that a creditor did not violate an automatic stay for maintaining a contempt proceeding against a...more

Divorce, property settlements, and bankruptcy. Oh my!

There's nothing simple about divorce and bankruptcy. We'll peel off one leaf of that very large subject and see what can happen if someone files bankruptcy after a divorce with a property settlement....more

The “B” Word – Asserting Your Claim in the Wake of a Bankruptcy Filing: Proof of Claim Basics

The word “bankruptcy” often strikes dread in the hearts of creditors. To some, when they hear that someone who owes them money has filed bankruptcy, they envision writing off the debt and never receiving a cent. However,...more

Affiliate Transfer: Fraudulent Conveyance or Unwinding Resulting Trust?

A chapter 7 trustee sought to set aside as a debtor’s transfer of her interest in property held jointly with her husband to her husband’s corporation as a constructive fraudulent conveyance. The bankruptcy court agreed that...more

Discharging the Brunner Test: Student Loan Debt in Bankruptcy

Twenty-seven years ago the Second Circuit was faced with a debtor who proposed to use the Bankruptcy Code to avoid her student loan debt – only five months after graduation. The Second Circuit came down harshly on Ms. Brunner...more

An Inherited IRA And Bankruptcy

In Clark v. Rameker, a case decided by the U.S. Supreme Court on June 12, 2014, the Court ruled that an inherited IRA did not constitute “retirement funds” under the Federal Bankruptcy Code and, therefore, those funds were...more

224 Results
|
View per page
Page: of 9