News Topic: BankruptcyQuestionsNationalBankruptcyForum

Do you have a supplier who has recently filed for chapter 11 bankruptcy protection?  Or are you a consumer and one of your favorite stores recently filed for chapter 11?  Learn about how to follow these companies’ bankruptcy cases to protect your ... Read full article

Do you have a customer who has recently filed for chapter 11 bankruptcy protection? Learn about how to follow the company’s bankruptcy case to protect your interests. To help, we’ve prepared the following presentation: The Top 10 Chapter 11 Bankruptcy Case ... Read full article

Here’s the case of Mr. Wade.  Mr. Wade lives in Northbrook, Illinois.  He has not filed a bankruptcy before.  He is a homeowner, a single-family home worth $1.2 million, and he has a loan against it of $1 million.  So technically, he’s got $200,000.00 ... 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

This is the case study of Miss Wheeler.  Miss Wheeler has never filed a bankruptcy before.  She lives in Waukegan, Illinois, which is Lake County, Illinois.  She’s not a homeowner.  She’s renting on Glen Flora, and that’s a monthly lease.  She has no ... Read full article

Although her home appears to be in Sherman Oaks, California, the petition states that she has at least had a residence in Nevada for 91 days or more.  Her bankruptcy attorney should get a gold medal for only charging a celebrity $2,500 for a Chapter 7 ... Read full article

We must account for vehicles within a bankruptcy case.  We need to know what it’s worth and what is owe.  There lies the equity. You’re going to have people who come in and they’ve got a paid off Harley-Davidson motorcycle worth $20,000 and they’ve got all ... Read full article

Your Current Monthly Income Affects Eligibility for Chapter 7 Bankruptcy The term “current monthly income” (CMI) is an important concept in bankruptcy that courts use in several “bankruptcy tests”. For example, your “current monthly income” is important ... Read full article

Decline in Real Estate Values Impacts Trustee Behavior The biggest asset that most people have is real estate. Believe me, this used to be more of a problem because real estate used to always go up in value. So, if there was any option for the trustee to ... Read full article

Chapter 7 Bankruptcy Every Eight Years You can file a Chapter 7 bankruptcy case once every eight years. So oftentimes, we will see somebody where the eight years has not elapsed yet.  But, it may be coming up soon, six months or a year or something like ... Read full article

As part of the ever growing blawgosphere, we here at National Bankruptcy Forum come in contact with marketing savvy bankruptcy attorneys everyday. Many of our tech savvy members actively advertise their law firms on television and Youtube, so we thought ... Read full article

It’s amazing how bad things have gotten. There is real talk of the federal government defaulting on its debts and the rating agencies will very likely downgrade U.S. Treasuries as a result. Just how dire is the economic outlook if we continue on our ... Read full article

What we are talking about basically is the Chapter 13 plan.  It’s the reorganization plan.  And the debtor is required to not only prepare a plan which they do through an attorney, but they need to execute the plan.  If the monthly payment in the plan is ... Read full article

Can you protect your inheritance that your receive after filing for bankruptcy?  This is kind of an interesting circumstance. If you know or if the debtor knows that they are going to inherit something coming up pretty soon, it could be subject to being ... Read full article

Feeling Guilty About Bankruptcy? The U.S. economy has historically been fueled by consumer spending. For years, lenders have spent many billions of dollars on target advertising containing subliminal messages that are aimed to convince us to buy goods we ... Read full article

Be careful what you accuse a bankruptcy debtor of in public because it can lead to a libel law suit.   This includes letters to the bankruptcy judge.  Just that happened in one North Carolina bankruptcy case.  Read the documents here including the docket ... Read full article

An IRS lien is a federal tax lien (FTL) that the IRS places against your property, similar to a mortgage on your home or a lien on your car. The difference is that the lien is placed against everything you (the taxpayer) own, right down to the cash in your ... Read full article

If you owe your family law attorney money for your divorce or another domestic relations matter, you may think you’re stuck with the lawyer’s bill, even if you file a Chapter 7 bankruptcy. Here’s good news. The debts you can discharge in bankruptcy include ... Read full article