Voluntary Retirement Contributions and Retirement Loan Repayments are reasonably necessary expenses for Bankruptcy Debtor
In bankruptcy news, a nice, debtor-friendly case came out of the Bankruptcy Court for the Southern District of Indiana. The question presented: whether a debtor’s voluntary retirement contributions and retirement loan repayments are reasonably necessary expenses for bankruptcy debtor. The answer according to this court: Yes!
KEEP READING . . .What does Limited Liability really mean for you and your business? A bankruptcy case explains it clearly.
When working with both individuals and businesses (both new and ongoing), I often get asked whether the corporation that is or was created will protect them from liability (in the general sense). I try to give my best response to such an open-ended question, which is usually something like, “[w]hen done right, a corporate entity […]
KEEP READING . . .Sometimes, (in bankruptcy) letting go is the best thing
People often tend to let their emotions govern their choices, especially in legal matters. It’s ultra-common in divorces, where the parties would rather battle over some issue, keeping the case open another few years and increasing attorneys fees, rather than coming to a sensible resolution. (I once saw a conference where the parties decided to […]
KEEP READING . . .Bank Tries to Disregard Loan Modification Agreement that IT OFFERED in Bankruptcy Court!
“Wow!” That was all I could think after reading this case. Unfortunately, poor lender practices, especially in the foreclosure and bankruptcy context, have become all too common. If you or someone you know had been dealing with a foreclosure, then you might be aware of the challenges that had to be overcome to gain some […]
KEEP READING . . .Ya Filthy Animal causes Trademark Dispute
The legal world is replete with stuff you just can’t make up. I’ve written previously on the need of business owners to allocate funds for legal expenses – because they will arise. What do you do when a potential online attack takes place that shuts down all of your sales?
KEEP READING . . .Case Review: What happens if creditors were left off from my bankruptcy papers?
This is a review of a recent case out of the Bankruptcy Court for the Northern District of Alabama that is instructive on the power of the bankruptcy discharge, and what may follow when creditors are omitted from a type of bankruptcy case. That is, if a debtor, for whatever reason, did not list certain […]
KEEP READING . . .Case Review: The Impact of Divorce Judgments on Real Property in Bankruptcy
I saw this fairly common fact pattern once while I was sitting in state court waiting for my case to be called. I was watching a conference on a post-judgment divorce case. The wife had filed papers against her former husband alleging that he was breaching the terms of the settlement agreement because he was […]
KEEP READING . . .Can Chapter 13 Bankruptcy Help With Abandoned Foreclosure Properties?
Are you one of the many people who suffered hardship as a result of the foreclosure bubble? Have deed in lieu and short sale options failed, and you wonder how can you ever rid yourself of the burden that is that real estate? If you’re dealing with abandoned foreclosure properties, bankruptcy may provide an answer. […]
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