News Topic: chapter 7

A debtor’s LLC membership interest is treated differently in state court collection proceedings than it is in bankruptcy. In state court collections a judgment creditor’s remedy to execute a judgment against a multi-member LLC is limited to a charging ... Read full article

In my last post, I argued that the current ... Read full article

In my last post, I argued that the current ... Read full article

... Read full article

Eligibility for Chapter 7 bankruptcy depends upon family income. An employee’s income is usually clearly determined by his payroll statements during the six months prior to filing. A self-employed debtor’s compensation from his own business typically ... Read full article

Clients are always concerned about their credit score.  It is not unusual for the question “How will bankruptcy affect my credit score?” to be the first thing that comes out of someone’s mouth when they consider bankruptcy as an option.  Although ... Read full article

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I often get calls from people who have already filed personal bankruptcy with another attorney and are unhappy about the course of their bankruptcy. Many of these callers find they are losing some money or assets in their bankruptcy, and they complain ... Read full article

By: Michael J. Casaceli St. John’s University Law Student American Bankruptcy Institute Law Review Staff   ... Read full article

Meeting your potential client for the first time will set the tone for your entire representation. By having a well-reasoned and thorough interview form, you should be able to gain a great map for what questions you may have for this client, what chapter ... Read full article

I have been asked by legal malpractice attorneys occasionally to review cases they are considering for legal malpractice claims against bankruptcy lawyers. This week a south Florida attorney asked me to look at  a bankruptcy case filed by an Orlando, ... Read full article

Many people who file Chapter 7 bankruptcy are self-employed owners of a small business. The business is not doing well, and the owners have accumulated substantial personal debt to support the business and pay personal living expenses while the business ... Read full article

 By: Adam S. Cohen St. John’s Law Student American Bankruptcy Institute Law Review Staff ... Read full article

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Your homestead property is exempt as long as you intend to maintain the property as your permanent residence. When a homestead owner files bankruptcy he must declare his future intention regarding his homestead property and mortgage. The debtor must ... Read full article

When you are considering bankruptcy, you have often been behind on payments for months.  You have run up credit card debt, and missed payments on your car and mortgage.  And now, perhaps your lender is threatening to repossess your car.  What are your ... Read full article

Wells Fargo Freezing Accounts of Bankruptcy Debtors For years, Wells Fargo has taken an unusual and sometimes unpopular stance with regard to the bank account funds that bankruptcy filers have at their branches.  Every evening, Wells Fargo checks the ... Read full article

Many bankruptcy debtor have borrowed money from their retirement plans in an attempt to pay their monthly debt obligations and avoid bankruptcy. The retirement loans require repayment within a certain time in order to avoid income taxation including ... Read full article