Consumer Bankruptcy Debt

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

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

My credit card company "wrote off" my debt. Can I stop worrying about it?

That's a common question that people ask me when they contact me to discuss bankruptcy. The short answer is "No". We'll look at why that is so in this article....more

The Thing that Wouldn’t Leave. Non-dischargeable Debts in Bankruptcy

One of my favorite old Saturday Night Live sketches was a preview of a mock-horror movie starring John Belushi as an unwanted house guest who was sticking around too long. The name of the movie was The Thing That Wouldn’t...more

Determining Foreigners Insolvency Exception

Can a foreign person exclude foreign-situs assets in determining insolvency exception to cancellation of indebtedness income? With the worldwide global default rate on corporate debt continuing to rise, a taxpayer’s...more

Can I file bankruptcy if I have gambling debts?

The short answer is yes, you can file bankruptcy. But then you have to ask if that will discharge (get rid of) those gambling debts. The answer to that depends on in what state you gambled and ran up those debts....more

Affairs of State: When States Are Creditors: Why § 525 Matters and Should Be Expanded

One of the pillars of a debtor’s fresh start is the anti-discrimination provisions of § 525 of the Bankruptcy Code, which codifies the U.S. Supreme Court’s decision in Perez v. Campbell. The Court held that two state statutes...more

Not All Property Acquired Post-Petition is Safe from Creditors

Although property obtained by a debtor after filing for bankruptcy is usually safe from creditors, a recent case from the Ninth Circuit Bankruptcy Appellate Panel allowed a Chapter 7 Trustee to sell real property obtained by...more

OCC Issues Guidance Regarding Secured Consumer Debt Discharged In Bankruptcy

On February 14, the OCC issued Bulletin 2014-02, which clarifies supervisory expectations for national banks and federal savings associations regarding secured consumer debt discharged in Chapter 7 bankruptcy proceedings. The...more

Student Loan Debt – The Exception to the Bankruptcy Fresh Start

You file bankruptcy to eliminate your debt. However the “fresh start” promise of bankruptcy is often not fully realized due to the fact that student loan debt is usually not eliminated in bankruptcy. Bankruptcy will allow...more

3 Ways to Take Control of Your Debt in 2014!

Eliminate your debt in 2014Happy New Year! When this time of year rolls around I always tend look back on the prior year and ask myself if things are any different now than they were a year ago. Did I meet my goals? Have I...more

How Holiday Debt Can Lead to Bankruptcy

Talk about the gift that keeps on giving the whole year through! I am up visiting family in Utah for the Thanksgiving holiday and noticed this sign on a local credit union. It got me to thinking about trends I notice...more

Recent Decisions Underscore Importance of Carefully Drafted Make-Whole Premium Provisions in Loan Documents

What you need to know: Two recent decisions have shown that courts will rely heavily on the plain meaning of contract language when considering the enforceability of make-whole provisions. The United States Court of...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

5 Factors to Consider Before Filing Bankruptcy

Often when clients come in for a bankruptcy consultation they will tell me their situation and ask whether bankruptcy would be appropriate in their case....more

Bankruptcy Before Retirement: Why it Sometimes Makes Sense

A 52-year-old man had endured two divorces that left him essentially broke. He was left with no retirement savings, high debt, a low salary and no greater career prospects. In cases like this, filing for an Arizona...more

Bankruptcy Spurred By Court Judgment May Proceed For The Proper Purpose Of Reorganization; Judge's Adversarial Rulings And Remarks...

In In Re J. Howard Marshall (--- F.3d ----, C.A.9 (Cal.), June 28, 2013), the United States Court of Appeals considered the validity of a Chapter 11 bankruptcy filing. The bankruptcy had been challenged because it was...more

Rogers Towers: Discharge and the Unscheduled Debt Part III: Collection of Non-Discharged Debt

The Bankruptcy Code provides that creditors holding nondischargeable claims may pursue post-confirmation collection efforts....more

Rogers Towers: Discharge and the Unscheduled Debt Part II: Punitive Effects of Intentional Non-Disclosure

In our previous post we discussed the due process requirements that underpin a debtor’s bankruptcy discharge. We noted that a debtor’s failure to schedule an actual or potential claim may prejudice the debtor’s ability to...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

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