Consumer Bankruptcy Creditors

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

What do creditors need to know about litigation in state court and bankruptcy court? [Video]

Phoenix business law firm Jaburg Wilk's business attorney Neal Bookspan discusses what creditors need to know about litigation in state court and bankruptcy court. He also talks about what needs to happen in litigation. For...more

A creditor is suing me! What should I do?

We'll take a look at what might happen if you do nothing when a creditor sues you, if you "answer" the lawsuit in a timely fashion, and if you file bankruptcy....more

Connecticut District Court Rules That Oversecured Creditor Was Not Entitled to Postpetition Default Interest Until Unsecured...

Section 506(b) of the Bankruptcy Code allows secured creditors to receive post-bankruptcy or postpetition interest, also known as pendency interest, when the value of their collateral exceeds the amount they are owed. ...more

Connecticut District Court and Bankruptcy Court Differ on Extent to Which the Automatic Stay Automatically Terminates Upon Second...

Under §362(c)(3)(A), when a debtor files a second bankruptcy case within one year after the first case, the automatic stay in the second case will automatically terminate “with respect to the debtor” on the 30th day of the...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

Sixth Circuit Clarifies Burden of Proof on Lien Validity and Confirms Availability of Defensive Avoidance Powers

On December 17, 2013, the United States Court of Appeals for the Sixth Circuit issued an opinion in the matter of Grant, Konvalinka & Harrison, P.C. v. C. Kenneth Still, (Case No. 12-6374) resolving two bankruptcy issues of...more

Using the Possibility of Bankruptcy to Negotiate with Creditors

People struggling with debt often too easily discount the possibility of negotiating with their creditors. To them, the bargaining power seems so unequal that they cannot comprehend why their creditors would ever be willing...more

What Role Do Creditors Play?

There are a lot of things you and your bankruptcy attorney can do to help the process move as smoothly as possible. Unfortunately, however, not everything is within your control. Depending on the type of bankruptcy relief you...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

Community Banking Excellence - Fourth Quarter 2013

In This Issue: - Interview with a Community Banking Professional - Holiday Wishes - Accidents Don't Cut It - Ensuring You Don't "Unintentionally" Violate the Automatic Stay - Dodd-Frank Essentials: Executive...more

Is this your "Window of Opportunity" for bankruptcy?

Bankruptcy as an opportunity? And a "window" for it? What's that about? It's about the fact that our Congress gave all of us the opportunity for a Fresh Start from burdensome debts. And yes, for many people there is a...more

The Absolute Priority Rule in Individual Chapter 11 Bankruptcy Cases lives on … for now

The principle behind the absolute priority rule is simple: unsecured creditors should be paid before the debtor is entitled to retain property of the bankruptcy estate. In a corporate setting the absolute priority rule...more

BAPCPA Backfires: Unsecured Creditor’s Returns Decrease in Post-BAPCPA Landscape

A new study published by the American Bankruptcy Institute has found that the aggregate effect of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), which was passed in part to improve creditor...more

Mortgage Debt Lesson: Don't Pursue Collection Of A Discharged Mortgage

Creditors should double check the bankruptcy status of a debtor/borrower before pursuing collection. As a pending case illustrates, pursuing collection of an initially reaffirmed, but later discharged mortgage could be a...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

A creditor is suing me! Should I file bankruptcy?

Being sued by a creditor is sure to get your attention. We'll explore what could happen if you do or do not file bankruptcy....more

Do I need bankruptcy to protect my money and other stuff from creditors?

In California, since you get exemptions to protect some of your money and property from creditors if they sue you, do you need to file bankruptcy to protect your money and property?...more

Will Your Bankruptcy Be Successful?

You don’t want to file bankruptcy. I get that. But if you are going to file, you want your bankruptcy to be successful. Right?...more

What is the Meeting of Creditors and am I Required to Attend?

Section 341 of the Bankruptcy Code is titled meetings of creditors and equity security holders and contains the provisions for conducting this court hearing. Because it is governed by section 341, the hearing is often called...more

What to Bring to Your First Meeting with Your Bankruptcy Lawyer

The better prepared you are, the more effectively your attorney can advise you on your debt relief options. Before going to your first appointment, record essential information about your debts, assets, income and expenses....more

Will Junior Lose His College Fund If We File For Bankruptcy?

“Is the money we have saved for our child’s education protected or not?” This is a frequently asked question by parents considering filing for bankruptcy protection. Obviously these parents don’t want to risk their...more

Should I File for Bankruptcy?

This is one of the questions I’m asked frequently when I meet with an individual about their financial problems. The answer is always, “No, except as a final option and only if you can’t find another alternative that will...more

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