News Topic: Bankruptcy Case Law and Analysis

The Chapter 13 Trustee for the Middle District of Tennessee (Nashville) is being sued by Bank of America for forcing the mortgage company to produce the underlying note to mortgages, or face being treated as an unsecured creditor in the bankruptcy pot or ... Read full article

Chapter 13 bankruptcy has its benefits One of the benefits of filing for Chapter 13 bankruptcy is the ability to modify or “cram down” certain secured debts. For example, a consumer who owes far more than their car is worth has the option of cramming down ... Read full article

Filing timely tax returns is key if you wish to discharge tax debt in bankruptcy It is possible to discharge income tax debt in bankruptcy, however, not all taxes are eligible and timing plays a very important role. If you’re anticipating tax troubles on ... Read full article

I Need to File Bankruptcy, But I’m Worried About My Job… If you have a job, need to file bankruptcy, and are worried about getting fired because of it, you probably shouldn’t be. The bankruptcy code prevents employers from firing you just because you have ... Read full article

Collection Efforts Prohibited by Bankruptcy Discharge Once you file for bankruptcy and receive your discharge order from the court, creditors are prohibited from attempting to collect on debts that were included in your bankruptcy, period. Section ... Read full article

Retirement Accounts and Bankruptcy One of the biggest myths about bankruptcy is the idea that you will lose your retirement savings if you file. Generally speaking, this is not true. Section 522 of the Bankruptcy Code allows individual retirement accounts ... Read full article

The Bankruptcy Court Scrutinizes Fees Charged by Consumer Attorneys By definition, the assets of bankruptcy debtors are limited. Taking this reality into account, the Bankruptcy Code has historically required debtor attorneys to disclose their fees, and in ... Read full article

When Creditors Ignore the Bankruptcy Discharge Creditors who attempt to collect on debts that have been discharged in bankruptcy often find themselves in serious hot water with the Bankruptcy Court.  Bankruptcy judges take the discharge order very ... Read full article

Previously, I discussed the bankruptcy rule that employers cannot fire or otherwise discriminate against employees because they filed for bankruptcy.  However, I also mentioned the difficulty in sometimes proving the causation element between the filing ... Read full article

When you are considering bankruptcy, you have often been behind on payments for months.  You have run up credit card debt, and missed payments on your car and mortgage.  And now, perhaps your lender is threatening to repossess your car.  What are your ... Read full article

Bankruptcy Filings Lower in Tucson, Arizona and Phoenix, Arizona Than Last Year   Arizona bankruptcies have been declining in number for the last 9 months.   Statewide filings fell 23 percent in October of 2011, and overall bankruptcy filings are down 13 ... Read full article

In re: Rankin, No. 10-62340-13 (Bankr. D. Mont., January 21, 2011).   When you file for Chapter 13 bankruptcy, you propose to the bankruptcy court your plan to repay what you owe to your creditors.  There are many requirements that each plan must meet in ... Read full article

At a recent meeting of our Chapter 13 Committee meeting, a group of Bay Area bankruptcy attorneys who meet monthly to discuss recent developments in consumer bankruptcy law, a lively discussion erupted among a group of 40-50 local practitioners over Bay ... Read full article

The 9th Circuit has ruled that to the extent that an automobile lender rolls the negative equity from a trade-in into a new acquisition loan that part of the loan is not a purchase money security interest.  In re Penrod, 611 F.3d 1158 (9th Cir. 2010).   ... Read full article

Do you have an investment in a company that has recently filed for chapter 11 bankruptcy protection? Or are you researching a potential investment in a company that recently filed for chapter 11? Learn about how to follow these companies’ bankruptcy cases ... Read full article

Not since Northern Pipelineii has the U.S. Supreme Court rendered an opinion that could have such lasting consequences on the way attorneys practice bankruptcy law. In short, the Stern v. Marshall opinion reinforced the notion that Bankruptcy Judges are ... Read full article

Qualifying for Chapter 7 Bankruptcy: The Story of Toni Braxton In October 2010, six-time Grammy Award winner Toni Braxton filed for bankruptcy a second time. In her Chapter 7 bankruptcy petition, Braxton claimed debts of between $10 million and $50 ... Read full article

As reports surface that wealthy socialite Patricia Kluge has filed for Chapter 7 bankruptcy protection, many have wondered:  how can you file for bankruptcy when you are a billionaire? When United State bankruptcy laws were drafted, the focus was ... Read full article