January 24, 2007
- Myths About New Bankruptcy Law
Although bankruptcy filing numbers are still down in Atlanta, I am starting to see more and more activity on my web site and in email inquiries from potential clients. Nevertheless, there is still a great deal of misinformation in the general public about bankruptcy. (…)
December 17, 2006
- Chapter 13 Plan Strategies for Self Employed Debtors
With an increased emphasis in the new Bankruptcy Code upon a debtor's income history, self-employed or commissioned sales debtors will find a hostile reception in Chapter 13. A recent case on which I have been working illustrates the problem. (…)
December 6, 2006
- Georgia Foreclosures Up 99%
This morning's Atlanta Journal/Constitution published an article entitled "Georgia Foreclosures Jump 99%; rate is nation's 3rd highest." According to this article, one out of every 449 houses will go into foreclosure. Why the increase? Interest rates on adjustable rate mortgages are going up. In addition, underwriting standards by major lenders were relaxed over the past few years. (…)
December 1, 2006
- Chapter 13 Case Dismissed Because of Funding Problem
Yesterday, one of my Chapter 13 cases was dismissed at the confirmation hearing for one reason and one reason only. I had cured all of the trustee's objections and the case was viable. (…)
November 28, 2006
- Adequate Protection Payments Need Only Be Designated for Vehicle Creditors?
Adequate protection payments to secured creditors in a Chapter 13 plan are only required if the collateral involved is a motor vehicle. (…)
October 19, 2006
- Are Debtors Stuck With their Form B22 Means Test Budget?
Here is an issue about Chapter 13 calculations. I don't have the answer so I would appreciate any opinions, especially from any Chapter 13 trustee attorney who reads this blog. (…)
October 13, 2006
- Can I "Cancel" a Chapter 13 Bankruptcy if I Changed My Mind?
Here is an interesting question I received this morning from one of my former clients. She raises several important points so I thought I would answer it on the blog rather than simply by email. (…)
October 10, 2006
- Random Bankruptcy Case Audits Coming Soon
Illinois bankruptcy attorney Mazyar Hedayat reminds us in his DuPage County Bankruptcy blog that random bankruptcy case audits will start on October 17, 2006. October 17 is, of course, the one-year anniversary of the effective date of the BAPCA change to the nation's bankruptcy laws. (…)
October 9, 2006
- Most Common Objections in Chapter 13 Cases - objection 4 - no proof of tax escrow
This is the fourth installment of a series discussing the most common objections filed by Chapter 13 trustees in Chapter 13 cases. Thanks to Susan Gantt, a contract lawyer who handles Chapter 13 341 hearings for various Atlanta area lawyers on a contract basis. (…)
October 8, 2006
- Most Common Objections in Chapter 13 Cases - objection 3 - no affidavit confirming family financial support
My colleague, Susan Gantt, works as a contract attorney who handles Meeting of Creditor hearings for several Atlanta area bankruptcy lawyers. Because she attends 341 hearings all day long and associates with several law firms, she can offer all of us a valuable perspective about the practical issues that arise in Chapter 13 cases. (…)
October 2, 2006
- Most Common Objections in Chapter 13 Cases - objection 2 - no proof of post-petition mortgage payment
As all Chapter 13 debtor attorneys know, trustee objections in Chapter 13 cases are much more common and much more extensive. Recently, I sat down with Susan Gantt, a contract attorney who appears at Section 341 creditor meetings on behalf of several law firms in the Atlanta area. (…)
September 29, 2006
- Most Common Trustee Objections in Chapter 13 Cases - objection 1 - no payroll deduction
What are the most common trustee objections in Chapter 13 cases? Who better to tell us than Susan Gantt. Susan serves the consumer bankruptcy bar in Atlanta by attending 341 hearings on a contract basis for a number of debtors' lawyers. She attends 10 to 20 341 hearings a day, every day and has done so for several years. (…)
September 26, 2006
- Student Loan in Your Chapter 13 - Congratulations, You are Officially in Limbo!
We have run across a confusing predicament for Chapter 13 cases filed in the Northern District of Georgia that involve student loans. According to one of the assistant trustees whose identity we will protect, the judges in the Northern District have not yet decided how debtors should treat student loans in Chapter 13 case. (…)
August 1, 2006
- Cost of Chapter 13 May Outweigh Its Benefits
Yesterday, I met with a potential client who was facing immediate foreclosure (today) and I encouraged him not to file Chapter 13 to stop the foreclosure. (…)
July 29, 2006
- Weakening of Consumer Bankruptcy Protections Based on Faulty Assumptions
One of the consequences of the new bankruptcy law (BAPCA law) has to do with erosion of protections offered by bankruptcy in various situations. For example, the automatic stay provisions, which previously offered a comprehensive, no-questions-asked protection from any creditor action, no longer provides absolute protection in all circumstances. Under BAPCA, the automatic stay terminates in 30 days (unless you go to Court to renew it) in certain repeat filing situations and it does not exist at all in the third case filed within a year. (…)
July 13, 2006
- Chapter 13 after Chapter 7
I received an email today from a potential client asking about the rules for filing a Chapter 13 after a Chapter 7 that has been discharged. (…)
June 10, 2006
- Am I Allowed to Include in my Means Test Calculation an Allocation for Payments to Secured Creditors When I am Surrendering the Collateral?
Thans to Judge Homer Drake, we have an answer to this question in the Northern District of Georgia. In the Walker case (2006 Bankr. LEXIS 845, Case No. 05-15010 (Bankr. N.D. Ga. (…)
June 5, 2006
- Behind on Mortgage and Vehicles - is Chapter 13 an Option?
My mortgage is about to go into foreclosure–as we are two months behind right now and we also owe for June…The mortgage company will not accept a partial payment…and will initiate foreclosure proceedings very soon..we are also in trouble with our car notes and timeshare payments… should we consider bankruptcy if we cannot work out something with our lender???–Mark
Jonathan Ginsberg responds: Mark, if your mortgage company will not work with you, then your only real option is Chapter 13. I think you are smart to consider this option early - which is preferable to waiting until a few days before foreclosure to look into the process. At a minimum, you should do the following now:
1) request copies of all 3 credit reports (both you and your wife) - credit reports are free in Georgia but will take a few days to arrive in the mail (by contrast if you need them immediately, I can get them for $45 per person). This is another advantage of starting early
2) get your credit counseling certificate. Credit counseling is now mandatory and if you wait until the last minute, you may not be able to get an appointment. I have a section about credit counseling on my Atlanta Bankruptcy web site. Consumer Credit Counseling of Atlanta and Hummingbird Credit Counseling are two organizations that my clients have used. (…)
June 4, 2006
- Trends in Mortgage Foreclosures
One component of the new bankruptcy law that gets little popular attention has to do with the limitations the new law places on re-filed Chapter 13 cases. The Bankruptcy Code now provides that in a second case filed within one year of a first filing, the automatic stay terminates in 30 days unless the debtor files a Motion to Extend Stay. For a third filing within a year, the automatic stay does not go into existence at all. (…)
June 2, 2006
- Please share your experiences with bankruptcy
This morning, I came across an interesting blog by a gentleman who is currently going through a Chapter 13 and is describing his experiences preparing as he goes through his case. It appears that he tried a debt counseling program that did not work and now has made the decision to go through Chapter 13. (…)
