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. (…)

August 16, 2007

• The Date You File Your Bankruptcy Case Can Have Important Consequences

  Your decision about when to file your Chapter 7 or Chapter 13 bankruptcy case can have important and far reaching consequences with regard to the bankruptcy relief you obtain.  Here are some considerations about which you should be aware:

  Semi-annual Changes in the U.S. (…)

August 11, 2007

• Can Bankruptcy Take Care of Outstanding Bad Checks?

  My colleague, Wendell Sherk, a bankruptcy lawyer in St. (…)

August 9, 2007

• Chapter 13 Case Requires Documentation for Claimed Expenses

  In recent months, I have noticed that the Chapter 13 trustees in the Northern District of Georgia are requiring back-up documentation on many expense items set out in a debtor's budget.  I am now telling my clients to save receipts for the following expense categories:

  food charitable contributions non-reimbursed medical expenses gasoline and automobile related expenses child care after school program costs child education related expenses

  The best evidence to prove that you actually spend what is set out in your budget are payment receipts of vendor invoices.  If those are not available, I have had some success using a debtor's affidavit swearing that you actually spend what you say you do. (…)

April 4, 2007

• What Are My Rights if I Loan Money to a Friend and the Friend Files Bankruptcy?

  If I loaned money to a friend who committed bank fraud (I had to wire the money within minutes of having received the call from the friend directly to the Bank's fraud recovery department) and that friend subsequently files Chapter 13, is it safe to assume that I have no recourse but to wait in line with other unsecured creditors? (…)

March 20, 2007

• Amount of Debt Permitted in Chapter 13 Goes Up on April 1, 2007

  When I meet with a new client, I always try to find a way to fit that client into Chapter 7 bankruptcy.  I like Chapter 7 because it typically lasts no more than five or six months and, when it works properly, you end up completely debt free.  I have represented debtors who have been burdended with $75,000, $100,000 even $200,000 of unsecured debt - and all that debt disappears in Chapter 7. (…)

February 20, 2007

• Can I Begin to Restore My Credit While I am in an Active Chapter 13?

  I’ve filed a chapter 13 due to divorce (no previous credit issues) and am paying rightly on my repayment plan having several years to go. (…)

February 8, 2007

• Are Personal Debts Owed to Family or Friends Included in Bankruptcy?

  I loan a family member a large sum of money a year ago. Now this family member is filing for bankruptcy and has ask for my name and address and the amount borrowed from me. (…)

February 5, 2007

• Does Chapter 13 Debtor Get to Keep Sale Proceeds if Fair Market Value of Home Goes Up During Chapter 13?

  A Chapter 13 client contacted me this morning with a somewhat unusual situation.  She called because she has been in her Chapter 13 case for almost exactly three years and she wanted to pay off her case and get out of bankruptcy. (…)