Bankruptcy FAQ: Can I Possibly Be Arrested for Outstanding Credit Card Debt?
Myths abound when it comes to what creditors may do when it comes to collecting their debt. For sure, there are documented stories of creditor abuse – but those stories are just that, abuse and possible flagrant violations of law. I was recently retained by a client to file bankruptcy. One reason, the client told […]
KEEP READING . . .Another Decision Limiting the Dischargeability of Tax Liability!
The discharge of tax liabilities can often be a big factor in someone’s decision to file for bankruptcy. If you can develop a plan so that tax liabilities are discharged in a bankruptcy filing, that can be immense for a debtor (because otherwise tax liabilities remain nondischargeable). There are tests, however, for when tax liabilities […]
KEEP READING . . .Homeowners: Keep mortgage servicers accountable in foreclosure cases
For the many homeowners that have had to deal with foreclosure, or are currently dealing with foreclosure, there is a universal frustration in working with the mortgage servicers. Countless individuals express frustration at sending documents that are allegedly never received. Others are shocked by an extension of a trial modification, only to never be converted […]
KEEP READING . . .Bankruptcy Discharge Injunction NOT applicable to Some Nondischargeable debts
People that file for bankruptcy often expect two things: the protection of the automatic stay when filing, and then the protection of the discharge injunction after they get their discharge. Another thing many debtors understand when it comes to bankruptcy is that some kinds of debts are nondischargeable, such as student loans or some kinds […]
KEEP READING . . .Being Misleading in Your Bankruptcy Case May Cost You Your Porsche
Bankruptcy courts are fairly liberal in allowing a debtor who has filed a chapter 7 case to convert it to a chapter 13 case, if necessary. That ability to convert, however, is not absolute. In reviewing such an application by a debtor, the court will look to see if the debtor had engaged in any […]
KEEP READING . . .Bankruptcy Protections Eaten Away In Case Seeking Attorney Fees
Anyone who has filed or is thinking about filing for bankruptcy knows that filing for bankruptcy does two things: (1) generally, you get the protection of the automatic stay; and (2) upon grant of the discharge order, debts are discharged. There have been court decisions, however, that make it difficult to enforce those provisions – […]
KEEP READING . . .If you file for bankruptcy, are you harmed if YOUR attorney doesn’t go to court with you?
Any attorney who practices consumer bankruptcy has the contact of information of several “appearance” attorneys. When I go to 341 meetings, I’m often a little taken aback when a debtor, waiting for their case to be called, hears their name being called by an attorney they don’t know. A recent case from the bankruptcy court […]
KEEP READING . . .Using Bankruptcy to “Strip” Liens on Investment Property
One of the great tools bankruptcy provides is the ability to avoid undersecured and wholly unsecured liens (often referred to as “stripping down” a lien or “stripping off” a lien). If you owned investment properties that are currently underwater, what if I told you there might be a way to reduce the outstanding mortgages on […]
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