News & Analysis as of

Consumer Bankruptcy Debtors

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 -

Recent Bankruptcy Decision from the Western District of Wisconsin Discusses Negative Equity, Car Loans, and the Chapter 13 Cram...

by Ruder Ware on

A quick introduction for those of you who are not bankruptcy nerds. For certain types of collateral, Chapter 13 allows a Debtor to reduce a secured creditor’s claim down to the value of the collateral. This is called “cram...more

ERISA Benefits and a Claimant’s Bankruptcy: When Judicial Estoppel Requires Dismissal of Lawsuits Seeking Long Term Disability...

Don’t forget that... judicial estoppel can require dismissal of a claimant’s suit for ERISA-governed long term disability (LTD) benefits if the claimant failed to list the “potential cause of action” in bankruptcy filings....more

Eleventh Circuit Declines to Expand Reach of “Least Sophisticated Consumer” Standard In the Context of Sending Periodic Mortgage...

by Balch & Bingham LLP on

The Eleventh Circuit recently clarified that sending periodic mortgage statements following a debtor’s bankruptcy discharge is not misleading to the “least sophisticated consumer.” In Helman v. Bank of America, 15-13672, 2017...more

11th Circuit Clarifies FDCPA/FCCPA Issues Re Periodic Mortgage Statements After Bankruptcy

by Burr & Forman on

In Helman v. Bank of America, 15-13672, 2017 WL 1350728 (11th Cir. April 12, 2017) the Eleventh Circuit Court of Appeal clarified important issues regarding the use of periodic mortgage statements after a bankruptcy...more

Court Rejects Lender’s Objection to Payment of Debtor’s Counsel’s Fees and Expenses from Pre-Petition Retainer

by Burr & Forman on

In a decision rendered on December 30, 2016, the bankruptcy court for the Southern District of Florida (the “Court”) addressed the debtor’s counsel’s interim application for an award of fees and expenses for services rendered...more

Courts Split on Definition of a “Return” for Tax Discharge

On October 11, 2016, Martin Smith petitioned the Supreme Court for a writ of certiorari to review a decision by the Ninth Circuit. After Smith failed to file a timely tax return, the IRS assessed a deficiency against him....more

Debtors Who Misuse Collateral Can Lose the Benefit of Discharging their Debt in Bankruptcy

by Burr & Forman on

On November 21, 2016, in a case entitled In re Monson, the Eleventh Circuit Court of Appeals affirmed the Bankruptcy Court’s decision, which held that a debtor’s conduct constituted a willful and malicious injury to a...more

Black Friday and Bankruptcy

by John Skiba on

It is hard to believe that the holidays are upon us once again. And love it or hate it Black Friday and become a holiday tradition for many people where they stake out their claim for the great deals of the holiday...more

Eleventh Circuit Holds that a Debtor who Elects to “Surrender” Real Property Cannot Oppose the Lender’s Foreclosure Case

In In re Failla, 838 F.3d 1170 (11th Cir. Oct. 4, 2016), the Eleventh Circuit resolved a split among Florida bankruptcy judges by ruling that a debtor who elects to "surrender" real property during its bankruptcy case cannot...more

The Ultimate Arizona Bankruptcy Guide – pt. 7 – The Path to a Chapter 7 Discharge

by John Skiba on

In most chapter 7 bankruptcy cases the activity in the case is front loaded. What I mean by that is prior to filing the bankruptcy case there is a lot of activity around pulling all of the necessary information and...more

How do I Know If I Qualify for Chapter 7 Bankruptcy?

by John Skiba on

Periodically the United States Trustee’s Office updates the income limits used to determine whether or not you qualify for a chapter 7 bankruptcy filing. Overwhelmingly people that file for bankruptcy file under chapter...more

Eleventh Circuit Affirms That a Debtor’s Surrender in Bankruptcy Means Just That-You Must Surrender

by Burr & Forman on

Burr & Forman lawyers won a significant victory in the Eleventh Circuit earlier this month. In the case In re: David A. Failla, — F.3d — (2016), the U.S. Court of Appeals for the Eleventh Circuit affirmed that a person who...more

Bankruptcy Court Assesses Sanctions on Mortgage Servicer for Failure to File Notices Relating to Residential Mortgage Loans

In re Gravel, ____ B.R. _____, Case Nos. 11-10112, 11-10281, 12-10512, 2016 WL 4765773 (Bankr. D.Vt. September 12, 2016) - In September of 2016, the United States Bankruptcy Court for the District of Vermont assessed...more

Eighth Circuit Opinions Highlight Need to Apply Appellate Lens at Trial Court

by Robins Kaplan LLP on

We often quip that the best way to establish a winning record as an appellate lawyer is to represent the party that won below; that’s no joke. In nearly every appellate court— state or federal— appellants have an uphill...more

Court Finds that Parents Convicted of Ponzi Scheme Received Value from Tuition Payments

by PretiFlaherty on

Do parents receive something of value when they pay for their child to attend college? The Massachusetts Bankruptcy Court (Hoffman, J.) recently considered this exact question in DeGiamcomo v. Sacred Heart University, Inc.,...more

One Appellate Court’s Message to Debtors: Do What You Say!

by Baker Donelson on

Mortgage lenders received some good news from the Eleventh Circuit Court of Appeals last week! In Failla v. Citibank, N.A., Case No. 15-15626 (11th Cir. Oct. 4, 2016), the Court affirmed a bankruptcy judge’s order for a...more

The Eleventh Circuit has spoken: “Debtors who surrender property must get out of the creditor’s way”

In recent years, there has been a hotbed of litigation across the nation, particularly in Florida state and bankruptcy courts, regarding a debtor’s ability to contest a secured creditor’s foreclosure notwithstanding the...more

How You Can Settle Your Debts Using Marketing Tactics

by John Skiba on

When it comes to dealing with debt there are really three options: (1) pay them in full, (2) settle the debt for an amount less than the full amount, or (3) file for bankruptcy. If you can’t pay your debts in full and...more

13 Pitfalls of Bankruptcy in Arizona

by John Skiba on

Bankruptcy is a powerful tool that can once and for all eliminate your debt problems. And while bankruptcy is a lot less painful than most imagine, there are certain pitfalls that can make the process a whole lot more...more

Are Those Taxes Owing On Your Late-Filed Tax Return Dischargeable? Maybe, But You Better Be In The Right Circuit

by Bryan Cave on

Individual debtors with old tax debts relating to late-filed tax returns may be surprised to find that those tax debts may not be dischargeable under section 523(a) of the Bankruptcy Code due to the lateness of the tax...more

Debtors’ Lien-Stripping Attempt Likely Would Have Succeeded in New Hampshire

by PretiFlaherty on

A North Carolina bankruptcy court recently denied a Debtors’ attempt to “strip off” a junior lien on their primary residence by rejecting the argument that the property should be valued near the time of plan confirmation. In...more

Debtor May Still Claim Homestead Exemption Even If He Was Kicked Out

by PretiFlaherty on

The bankruptcy court for the Eastern District of New York found that a debtor who was ordered to vacate his home could still claim an exemption in the property. In a divorce proceeding several months prior to the bankruptcy...more

Bankruptcy Court Finds Student Loan Debt Dischargeable

by PretiFlaherty on

Student loan debt in the United States continues to mushroom, and according to the Federal Reserve, is approaching the $1 trillion mark. As bankruptcy practitioners and many in the public well know, the Bankruptcy Code...more

Take Notice of This Change: Supreme Court Adopts Recommended Amendments to Bankruptcy Notice of Payment Change Rule

by K&L Gates LLP on

Come December, the requirements surrounding notices of payment change (“PCNs”) for certain mortgage loans in bankruptcy will change. The Supreme Court, on April 28, 2016, adopted various proposed amendments to the Federal...more

The Court Doesn’t Care

by John Skiba on

Did you have to stop paying your bills because you lost your job, got sick, go divorced? The court doesn’t care. Are you in debt because your business that you worked night and day at failed? The court simply does not care....more

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