Social Media sites, and Facebook in particular, have changed the practice of law. Divorce lawyers regularly review the opposing party’s Facebook profile for evidence of adultery or hidden assets. Prosecutors present online photos to juries as evidence of guilty behavior. Bill collectors troll social media sites looking for assets and debtors.
Filed under Chapter 13 issues, Chapter 7 issues, Protected property issues by 
With the decline in Atlanta area housing values, a seldom used bankruptcy technique has taken on new life. The technique is called “lien stripping” and it arises from Bankruptcy Code Section 506(a) and (d). A lien strip allows a Chapter 13 debtor to use the power of the Bankruptcy Court to transform a secured second mortgage or home equity line of credit into an unsecured debt, thereby eliminating a monthly payment and reducing total debt by tens of thousands of dollars.
More on What is “Lien Stripping” and Can I Use it to Reduce my Mortgage Payments
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Most of the clients who I represent in Chapter 7 or Chapter 13 cases view bankruptcy as their absolute last resort. Usually, by the time they get to me, these clients have exhausted every other alternative – they have borrowed money from relatives and friends, sold possessions on eBay and cashed out or borrowed against retirement plans.
More on The Problem with 401(k) Loans and Consumer Bankruptcy
Last October, I wrote a post on this blog about bankruptcy fraud, and pointed out that everything included in a bankruptcy filing is subject to scrutiny by the office of the United States Trustee, which is an arm of the United States Department of Justice. In other words, false statements on a bankruptcy petition could land a debtor in hot water – dismissal of the bankruptcy case, fines and even prison.
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On June 7, 2010, the United States Supreme Court released its decision in the case of Hamilton, Chapter 13 Trustee v. Lanning. The Supreme Court rarely hears argument in consumer bankruptcy cases so the Lanning decision is big news to consumer bankruptcy lawyers.
More on Supreme Court Issues Important Ruling About Chapter 13
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With the news full of foreclosure statistics showing huge increases along with stories of self-righteous Members of Congress asserting their heartfelt concern for “struggling homeowners” little attention is paid to the question of whether a homeowner ought to fight to save his home. My friend and colleague, Charleston bankruptcy lawyer Russ DeMott were recently discussing this issue and I invited him to prepare a guest post about this very topic:
More on Should You Save Your Home from Foreclosure, or Should You Let it Go
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Because the bankruptcy system operates efficiently and quickly and it serves hundreds of people every day, I sense that many bankruptcy debtors forget that everything they submit to the bankruptcy court is done so under penalty of perjury. I recently ran across an article from a Texas newspaper about a Chapter 7 debtor who ended up in federal prison, convicted of bankruptcy fraud, because he failed to disclose an $84,000 insurance payment, proceeds from the sale of a vehicle and several bank accounts. This particular debtor used Chapter 7 to discharge over $1 million in liabilities.
More on Failure to Disclose Assets Lands Chapter 7 Debtor in Prison
As you probably know, there are two types of consumer bankruptcy cases available to you – a Chapter 7 which wipes out debt, and a Chapter 13 which creates a five year payment plan in which you pay back some or all of your debt with your “disposable income.” When I prepare a Chapter 13 case, we work with you to create a liveable budget. The money “left over” after you pay for housing, food, transportation, insurance, utilities and other necessities must be sent to the Chapter 13 trustee, who then disburses these funds to your creditors based on a plan of reorganization that we submit to the court.
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Once you file a Chapter 13 bankruptcy and begin contributing monthly to the payment plan, you may wonder where your money is going, who’s being paid and how much money you still owe until you get your Chapter 13 discharge. As a Chapter 13 debtor, you can have access to much of the same information that the Trustee and your attorney have.
More on Use Online Access Keep Track of the Disbursements in Your Chapter 13 Case
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Earlier this month the U.S. Supreme Court heard arguments in a case involving the question of discharge of student loans in a Chapter 13 case. The case arose from a Chapter 13 petition filed in 1992 by Francisco Espinoza, an American Airlines baggage handler.
More on Student Loan Discharge Case Heard by U.S. Supreme Court
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