June 30, 2009

• Can I Leave Selected Debts Out of my Bankruptcy Filing?

  I get this question at least once a week - "I need to file bankruptcy but I don't want to include my [mortgage] [car loan] [debt to my brother] [credit card co-signed by my company].   Let's leave this debt off my petition. (…)

June 24, 2009

• Why Tax Refunds Payable to the Chapter 13 Trustee Will Do Little to Decrease Your Plan Balance

  At least two of the three Chapter 13 trustees in the Northern District of Georgia require a Chapter 13 plan provision which provides that any tax refund payable to the debtor during the term of the debtor's plan shall be paid to the Chapter 13 trustee.   These trustees will object to any plan that does not include a tax refund provision. (…)

May 26, 2009

• Pay Attention to Your Chapter 13 Payroll Deduction

  In the Northern District of Georgia, every Chapter 13 case must be filed as a "payroll deduction order" case.  In other words, you must fund your Chapter 13 with a payroll deduction.   In my experience the trustees will allow direct payment of Chapter 13 plan payments only when a debtor is self employed or if the debtor can convince the trustee that the debtor's job would be in jeopardy if the employer received a payroll deduction order. (…)

March 15, 2009

• Does the Name on the Car Title Matter?

  As a bankruptcy lawyer, I have to deal with the consequence of what I call "real world" activities.    In the non-bankruptcy world people make decisions that will save money and make life easier.  For example, blog reader Lou writes me with a question about car titles:

  I might need to file chapter 13 in the future.  I filed a Chapter 7 in 2003 and now have a lot of credit card debt.  I have a house but I do not want to keep it. (…)

February 17, 2009

• Are Mortgage Modifications in Bankruptcy a Good Idea - Part Two

  Earlier this month, I wrote a post on this blog setting out the question of whether Congress should enact legislation empowering bankruptcy judges to modify the terms of mortgages within a Chapter 13 bankruptcy. (…)

February 10, 2009

• You are Responsible for Your Chapter 13 Trustee Payments

  I have probably written about this subject before, but I am going to raise it again because it creates so many unnecessary problems and it arises month after month and year after year. (…)

February 2, 2009

• Are Mortgage Modifications in Bankruptcy a Good Idea - Part One

  There has been a lot of chatter on bankruptcy blogs and bankruptcy lawyer forums about the possibility that Congress will amend the bankruptcy laws to give judges the power to modify mortgages.   To offer some perspective, bankruptcy judges have long had the power to modify vehicle loan contracts and other secured debt claims but never mortgage debt. (…)

July 2, 2008

• Conversion to Chapter 7 and Divorce Issues

  Whenever I file a Chapter 13 on behalf of a client, I remind my client that five years is a long time, and that a lot can happen during the term of a Chapter 13.  Marriage counselors reguarly opine that financial stress often leads to marital discord, so it should come as no surprise that the stresses inherent in a Chapter 13 will result in marital problems. (…)

April 21, 2008

• What do Bankruptcy Lawyers Do All Day Anyway

  To my knowledge there has never been a television drama about bankruptcy lawyers (although there would certainly be a lot of possible story lines!).   So, as a rule, most people do not know what bankruptcy lawyers do all day long. 

  Los Angeles bankruptcy lawyer Hale Antico answers this question accurately on his Los Angles Bankruptcy blog.  Hale's experience, like mine, goes something like this:

  Preparing an Objection to Proof of Claim for a Chapter 13 case where the pro se creditor thinks they should be a priority debt compared to a general unsecured non-priority claim. (…)

March 25, 2008

• My Chapter 13 Was Dismissed Two Weeks Ago - Can I Refile a Chapter 13?

  A visitor to one of my web sites wrote me to ask about refiling his Chapter 13.  After being in a Chapter 13 for almost 2 years, this gentlemen lost his job and fell behind with his Chapter 13 payments.  His mortgage company filed a Motion for Relief because he had falled behind on his mortgage payments (this motion was granted) and the trustee filed a motion to dismiss based on the delinquency in trustee payments.  This motion to dismiss was also granted and the case was dismissed. (…)

March 20, 2008

• Can I Lose My Job if I File For Bankruptcy and My Boss Finds Out?

  Recently I received an email from a prospective client who works for a banking institution.  His income is partially commissioned based and with the downturn in the real estate market, he has seen a significant decrease in take home pay.   With the pay reduction he is not able to pay his bills and wants to file a bankruptcy. (…)

March 5, 2008

• Chapter 13 Dismissed - Will I Lose My Car?

  I received an order saying my chapter 13 Bankruptcy case was being dismissed because it has been over 5 years plus no payments have been made in 6 mos. I lost my job of 7 years around may, 2007. (…)

February 21, 2008

• How Does My "Stimulus Package" Check Affect My Bankruptcy

  I have received several emails over the past few weeks asking about the impact of the $600 to $1,200 check that many of us will receive in May as part of the Bush stimulus package.   My colleague, Dana Wilkenson explains the impact in her post on the Bankruptcy Law Network blog:

  If you are already in a bankruptcy, the tax rebate may have no affect on you at all. (…)

• How Do I Know if My Chapter 13 Has Been Dismissed?

  I have been out of work for the last six months. Prior to my being unemployed I filed Chapter 13 to try and get a hold of my finances. (…)

February 8, 2008

• What Are They Going to Ask Me at My 341 Hearing

  No matter how much your lawyer tries to reassure you, there is a good chance that you will be nervous and anxious at your 341 hearing.  Even though the consumer bankruptcy process is generally not very adversarial, no one likes to be in the witness chair. (…)

December 13, 2007

• Don't Assume that Claims by Creditors Will be Correct and Accurate

  The Bankruptcy Code provides that creditors in Chapter 13 cases must file their proofs of claim within approximately 4 months after your Chapter 13 case is filed.   Often, however, your case is scheduled for confirmation before the proof of claim deadline.  This means that the judge may approve your case before all claims are known. 

October 17, 2007

• Unfiled Tax Returns - No Matter What the Reason - Create Havoc in Chapter 13 Cases

  In Chapter 13 cases filed in the Northern District of Georgia, both the IRS and the Georgia Department of Revenue receive notice of your filing.  In my office, I include both the IRS and Georgia as "notice creditors" in every case filed. (…)

October 8, 2007

• Do Pre-Confirmation Adequate Protection Provisions in Chapter 13 Put a Debtor's Interests in Conflict With Those of His Lawyer?

  Does a change in the Chapter 13 law that provides for "adequate protection" payments to vehicle lenders put the debtor's interests in conflict with the debtor's lawyer?   As the final language to the BAPCPA changes to the Bankruptcy Code were being negotiated by lawmakers and lobbyists, a very interesting provision was included, most likely at the insistence of lobbyists for vehicle finance companies. (…)

September 6, 2007

• Unfiled Tax Returns and Chapter 13

  Recently I have had problems with several of my Chapter 13 cases where the Chapter 13 trustee has objected to confirmation on the grounds that the debtor (my client) has one or more years of unfiled tax returns. (…)

August 22, 2007

• Five Years is a Long Time for Rice and Beans

  The October, 2005 changes to the Bankruptcy Law have forced many debtors into five year Chapter 13 plans. (…)