Chapter 13 issues

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

November 28, 2006

October 19, 2006

October 13, 2006

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

October 8, 2006

October 2, 2006

September 29, 2006

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

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

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. (…)

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