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Consumer Bankruptcy › Debtors › 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 -
Troutman Pepper

Fla. Bankruptcy Ruling Is Cautionary Tale for Debt Collectors

Troutman Pepper on

In the case of In re: McIntosh, a debt purchaser’s assertion that it was entitled to enforce a debt not correctly listed on the debtor’s bankruptcy schedules was met with significant pushback from the U.S. Bankruptcy Court...more

Foster Swift Collins & Smith

Are Funds Received as the Beneficiary of an IRA Property of the Estate in Bankruptcy?

Foster Swift Collins & Smith on

When an individual files a Chapter 7 bankruptcy case, the debtor’s non-exempt assets become property of the estate that is used to pay creditors. “Property of the estate” is a defined term under the Bankruptcy Code, so a...more

Bowditch & Dewey

Six Questions About Involuntary Bankruptcy

Bowditch & Dewey on

Trying to collect money from someone who cannot or will not pay you is frustrating. That old chestnut about throwing good money after bad comes to mind. Placing an individual or firm (your “debtor”) into bankruptcy is a...more

Hinshaw & Culbertson LLP

An Emerging Trend in Favor of Student Loan Discharges in Bankruptcy

Hinshaw & Culbertson LLP on

We recently reported on a Fifth Circuit decision that ruled some private, for-profit student loans are dischargeable in bankruptcy without a showing of undue hardship—something unusual and inconsistent with the widely-held...more

McGuireWoods LLP

Circuit Split: Should Subjective Intent Preclude a Finding of Civil Contempt in a Discharge Injunction Violation Case?

McGuireWoods LLP on

Does a creditor’s good-faith belief that a discharge injunction does not apply to its debt preclude a finding of civil contempt? Due to a circuit split, the U.S. Supreme Court was asked to decide this issue. ...more

Jackson Walker

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

Jackson Walker on

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

Snell & Wilmer

Not All Property Acquired Post-Petition is Safe from Creditors

Snell & Wilmer on

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

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