BankruptcyQuestionsNationalBankruptcyForum

Can You Live on $182.69 Per Week?

08/28/11

IRS Wage Garnishment Packs a Punch Both debtor’s attorneys and debtors themselves often complain about the chapter 13 bankruptcy requirement that all disposable income be committed to the chapter 13 repayment plan. In fact, some bankruptcy lawyers have described chapter 13 as “financial purgatory.” They’re obviously not used to dealing with the IRS. When the [...]

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San Jose Bankruptcy Lawyers Raise Concerns over Perceived Trustee Abuses

08/27/11

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 Area Chapter 7 panel trustees’ increased reliance upon lengthy questionnaires and blanket document requests [...]

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Fox Lake Bankruptcy Attorney On What To Expect At Your Meeting Of Creditors

08/27/11

All debtors are required pursuant to section 341 of the Bankruptcy Code to attend a meeting of creditors.  The meeting of creditors at which clients must appear often strikes fear unnecessarily in clients’ hearts.  In all honesty, the meeting of creditors is a very simple proceeding that doesn’t take that much time. In chapter 7 [...]

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Evergreen Park Bankruptcy Attorney On Disclosing Property On The Petition

08/27/11

Let’s talk briefly about the bankruptcy schedules.  The best rule of thought is to over-disclose things.  That’s not to be taken literally.  For example, listing real property is pretty simple.  What you do is you describe the property by its common address, 1234 Maple Avenue.  You list the value.  If it’s an undeveloped lot, you [...]

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Dolton Bankruptcy Attorney On What You Need To Bring To Your Initial Meeting With Your Attorney

08/26/11

Before you meet with a bankruptcy attorney, there is some important information that you need to have handy.  This information will likely be part of the questionnaire or in-take form that you will be asked to fill out.  When giving information, always error on the side of giving too much information as opposed to too [...]

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Donald Lader Joins National Bankruptcy Forum

08/25/11

Attorney Donald L. Lader, Jr. has joined the National Bankruptcy Forum. Attorney Lader operates under Lader Legal Services PLLC and on the web at NHLaw.com. He provides Chapter 7 and Chapter 13 bankruptcy services and Foreclosure Defense for the entire state of New Hampshire.

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Proposed Chapter 13 Principal Pay Down Plan

08/25/11

I just read an article that President Obama is considering another refinance plan for federally insured mortgages as one solution to the mortgage crisis. Unfortunately it will not address the real problem of underwater properties throughout the country and any program administered thru banks will have so many requirements and government mandates like the failed HAMP [...]

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The Foreclosure Saga and How Bankruptcy Could Help

08/24/11

By Aaron Huff Day in and day out the news seems to almost constantly be about the foreclosure rate in the United States.  It’s almost become commonplace.  As regular a story as the local weather.  The recession and downward spiral of the housing market have gone hand-in-hand, and unfortunately have been issues that have been [...]

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Should I Convert My Chapter 13 to Chapter 7?

08/24/11

Most Chapter 13 cases are not successfully completed and discharged.  This means that there are many individuals who file for Chapter 13 and find themselves unable or unwilling to continue.  Can these filers convert to Chapter 7?  Should they? If you are eligible for Chapter 7 bankruptcy, section 1307(a) of the Bankruptcy Code permits you [...]

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Reverse Mortgages: A Popular Way to Finance Retirement – But Beware of Scam Artists

08/24/11

Reverse Mortgages: A Popular Way to Finance Retirement – But Beware of Scam Artists Many seniors enter their “golden years” with bleak prospects because of increasing debts, poor debt management and decreasing buying power. One thing many seniors have in common is their main asset — their home. Many elderly people own a home, and [...]

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