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 […]
KEEP READING . . .The beauty (and the ugly) of a chapter 13 bankruptcy, as experienced by a lawyer
I was in court this morning for a case of mine. It was scheduled for the dual purpose of confirmation of the chapter 13 plan, and the trustee’s motion to dismiss. It seems counterintuitive that the same case can be scheduled for a hearing before the court for two things, each seeking the polar opposite […]
KEEP READING . . .Debtor’s Bankruptcy Discharge Revoked for Failure to Turnover Inheritance
Bankruptcy relief is pretty extraordinary, when you think about it. You can file a case that, if properly done, terminates your obligation to pay debts. You can strip off mortgages. Judgments (not recorded against real property) are voided. A bankruptcy discharge is an extraordinary measure of relief, and really does give a debtor a fresh […]
KEEP READING . . .Are foreign student loans dischargeable in bankruptcy?
People are becoming more and more aware that student loan debt is becoming a HUGE problem. With many college and post-grad students entering the workforce with high-five and six figure student loan debts, and jobs not paying income to keep up with the student loans (not to mention housing and other costs of living), bankruptcy […]
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