Chapter 13 Bankruptcy

Plan Could Slow Down Florida Foreclosures

08/21/11

NACBA (National Association of Consumer Bankruptcy Attorneys) responded this weekend to the government’s latest approach to the foreclosure crisis with what many people are calling the Principal Paydown Plan. Rather than turn the United States into a nation of renters under the recent suggestion that Freddie and Fannie rent their foreclosed properties or sell them as rentals, NACBA [...]

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In re Penrod, 611 F.3d 1158 (9th Cir. 2010) An Opportunity for California Bankruptcy Attorneys — But Maybe Not For Long

08/21/11

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).   The ruling in Penrod is in apparent contrast to [...]

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Will My Bankruptcy Affect My Spouse?

08/20/11

When you consider filing for bankruptcy, if you are married you will have to decide whether to file jointly or separately.  If you decide to file jointly, it will be important to know:  what will happen to your spouse? What happens to your spouse will depend most heavily on whether your debts are yours alone, [...]

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Identify Theft in Bankruptcy

08/20/11

Identity theft, the use of another’s personal information for fraud or deceit, is unfortunately a widespread problem.  And a significant number of bankruptcies involve identity theft as well.  Examples include the filing of bankruptcy with another’s name or listing another person who is in bankruptcy on a deed to avoid foreclosure. Often, identity thieves want [...]

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When Would I Convert from Chapter 7 to Chapter 13 Bankruptcy?

08/20/11

Although debtors are typically required to pay at least some of their unsecured debts in Chapter 13, and are required to complete a plan, it may sometimes be strategic to convert a Chapter 7 case to Chapter 13.  When would this be? If a creditor objects to your chapter 7 case, the court may dismiss [...]

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Blue Island Bankruptcy Attorney Confronts Confirmation Issues In Chapter 13 Filings.

08/20/11

If the trustee is not recommending approval, there has to be some kind of modification or correction made.  For example, the debtor might have to provide additional information to the trustee to satisfy the trustee that the debtor is paying all their available money per month.  Also, the trustee might want certain amendments to the [...]

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Calumet City Bankruptcy Attorney Saves Homes With Chapter 13

08/19/11

The most common form of a chapter 13 bankruptcy is to save a home.  This is the scenario I’m talking about.  If someone has fallen behind on their mortgage payment for whatever reason – it could be a medical reason, job related, or divorce.  They don’t have the ability to make a one-lump-sum payment to [...]

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7 Mistakes Lawyers Make That Could Put Your Confidential Information Into The Hands of Identity Thieves

08/14/11

In each of the following mistakes, ask yourself whether you think a receptionist, delivery person, or cleaning crew could get their hands on your confidential legal documents. I think you’ll agree that any one of these mistakes could result in your Social Security Number and other secret information falling into the hands of someone who [...]

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WARNING TO California and Florida Residents

08/14/11

If you live in California or Florida, your financial problems are probably more serious than if you lived in other states. The large number of residents in these states – combined with home values that skyrocketed and then collapsed – resulted in many people owing far more on their homes than their homes are worth. [...]

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Feds For Foreclosures into Rentals, Hey! How About Stopping Foreclosures?

08/11/11

Today was a most interesting read of the newspaper. Financial stories abound each day, the news is filled with tales of the stock market crash and the double dip recession (was there ever a rise to double dip?). Here are a smattering of headlines that caught my eye: Student Loans: A Crisis in Waiting? Americans [...]

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