Bankruptcy Blogs

Debtors Say Yes!! Trustee Says No!! Creditor Says Maybe? Court’s Decision? No reaffirmation of a lease in Chapter 7 Bankruptcy!

06/23/11

My colleague, Kurt O’Keefe, of Michigan, recently wrote regarding the difference between reaffirming a lease and reaffirming a secured loan on a vehicle.  He stated throughout his article that a lease was a different type of animal – neither secured or unsecured and a lease can be assumed or rejected.   His final point was that [...]

[more]

Repossession of Vehicle Allowed by Court after Chaper 7 Discharge without Reaffirmation

06/22/11

The Kansas Supreme Court recently ruled in Hall v. Ford Motor Credit Co. LLC, that a debtor’s failure to reaffirm a debt secured by his pick-up truck during his Chapter 7 bankruptcy constituted a default of his loan with Ford Motor Credit.  The court found that the debtor’s Chapter 7 discharge significantly impaired the secured [...]

[more]

What to do if a creditor sends you a Form 1099 trying to make income out of your discharged debt

06/22/11

Creditors who were discharged in bankruptcy are not supposed to send you 1099 forms because a bankruptcy discharge is not a taxable event.  Some do it in and out of bankruptcy in order to get you to pay a debt.  I think it is a violation of the automatic stay if done during the bankruptcy [...]

[more]

And Occasionally Jean Braucher

06/22/11

On behalf of everyone at Credit Slips, I am extremely pleased to announce that Jean Braucher will be joining us as an "Occasional." Jean will be well known to many Credit Slips readers and has been a past guest contributor. She is, of course, the Roger C.

[more]

Durbin Blow Will Hit Consumers and Small Businesses Hard

06/22/11

Congress is now ushering in an era of increased failure and consolidation of community banks in favor of big box retailers, bringing an already sluggish economic recovery to a crawl.

[more]

Assessing Your Financial Situation Pre-Bankruptcy

06/22/11

Often, people wait too long to file bankruptcy.  Considering bankruptcy to be a last resort is probably a wise thing to do, and there are often many things an individual can do to prevent bankruptcy.  However, waiting too long can mean that bankruptcy protects less of your assets than it might otherwise be able to, [...]

[more]

Feedback: Isn't the Small Business Lending Fund Really About Tarp?

06/22/11

How many of the proposed participating banks will actually be using the SBLF money to lend to small businesses?

[more]

Why Should I File Bankruptcy? A Few Reasons to File for Bankruptcy Protection.

06/22/11

Hands down, the hardest part of filing for bankruptcy protection is actually deciding to file for bankruptcy protection. Filing for bankruptcy protection has long carried with it a social stigma and, as a result, many potential debtors have the preconceved notion that turning to bankruptcy protection is a bad thing. The good news is that the [...]

[more]

WSJ Video: Greek Government Survives Key Confidence Vote

06/22/11

Summary: Greece’s government won a key vote of confidence in parliament, setting the stage for passage of an austerity plan and the release of more bailout funds from the IMF. WSJ’s Charles Forelle discusses the latest developments with Simon Constable. If the embedded video does not appear above, you can view it at: http://blog.ch11cases.com/2011/06/wsj-video-greek-government-survives-key.html

[more]

WSJ digits: Venture Bets on Online Gambling’s Future

06/22/11

Summary: U.S. Digital Gaming, a venture backed by prominent casino executives, is moving ahead with its business plan in the hopes that online gambling will become legal in the U.S.   If the embedded video does not appear above, you can view it at: blog.ch11cases.com  

[more]