BankruptcyLawNetwork

Florida – Plaintiff Must Prove Ownership at Time Foreclosure is Filed

12/15/11

In the latest foreclosure decision out of Florida,  the 4th District Court of Appeal, in the case of McLean v. JP Morgan Chase, ruled that the plaintiff in a foreclosure must prove it owns and holds the note at the time the foreclosure case is filed. In the McLean case, the appellate court reversed the [...]

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Prepare to Pay if You Forget to Take the Financial Management Course

12/13/11

Recently I received a notice from the bankruptcy court that my client’s Chapter 7 case has been closed without the issuance of a discharge order because my client never completed his mandatory financial management course.   This means that in order to get his discharge, my client will have to pay a filing fee of $260 [...]

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Bankruptcy Trustee Finds New Way to Increase Estate

12/11/11

The bankruptcy trustee, at last week’s meeting of creditors, came up with a new way of making money for the bankruptcy estate and annoying debtors. Here’s what happened: The debtor owns a house and a rental property that she would like to keep.  Both properties are completely up-side down (she owes more than they are [...]

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How To Miss Out On Discharging Credit Card Debt

12/10/11

Somewhere in our recent past, the holiday season became the shopping season. Lots of people in financial trouble hang on through the holiday season before taking up bankruptcy as part of the New Year.  (I haven’t seen many people give themselves a bankruptcy filing for Christmas, though, for many, it would be objectively the best [...]

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Top 10 Countdown of Bankruptcy Myths: Will Debtors Lose All Possessions?

12/10/11

Folks are often afraid to file for bankruptcy as they worry that they will be left without possessions–that the trustee will take all their “stuff” or the kids’ “stuff”.   The ones who really worry will even try to gift away property in order to keep it out of the bankruptcy trustee’s possession.   They [...]

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Preparing For Bankruptcy

12/08/11

When you are considering a trip, usually, you make substantial preparations in anticipation of   that trip.  You make travel arrangements; you make sure you have a place to stay; you make reservations for any activities in which you wish to participate.  You will often make significant plans and preparations for any “big” event.  Bankruptcy is [...]

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Bankruptcy Or Not, Student Loan Debt Will NOT Be Repaid

12/08/11

It is just a fact that the over one trillion (uh,  yeah, not billion, not hundreds of billions, trillion) dollars of student debt now outstanding in our fair land will not be repaid. Because the graduates will not generate sufficient income to pay it back. (image credit by: dreamstime) The jobs they were told were [...]

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Bankruptcy: Reality or Fantasy

12/07/11

When you file for bankruptcy you must ask yourself are you in a reality or  fantasy frame of mind?  When I was young , one of the professions I pursued and dreamed about was being an actress.  I trained, auditioned and actually took several classes in college along the way.  I am talented enough to [...]

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Stopping Wage Garnishment Through Bankruptcy: Make Sure To Get The Timing Right

12/07/11

When a creditor obtains a court judgment against a debtor, wage garnishment can be soon to follow.  Most persons subjected to wage garnishment will consult a lawyer to see if it can be stopped, and many of those will file either chapter 7 or chapter 13 bankruptcy to stop the wage garnishment.  While stopping a garnishment through [...]

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