Credit Law Network: Consumer Law

Home -> Law Blog Directory -> Consumer Law Blogs

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

Consumer Law

Credit Law Network

Solution oriented information.

Post Frequency: 28.8/day

Last Entry: May 23, 2013 at 09:56:36

What is a Prepackaged Chapter 11 Bankruptcy?

Posted on May 23, 2013
In this article I will explain a few basic details about conventional and prepackaged Chapter 11 bankruptcy cases. Conventional bankruptcy: This is usually when a business files bankruptcy in a response to a crisis. However, when a business files bankruptcy without at least some prior negotiation with creditors, no one can really be sure how [...

Student Loans May Now Be Discharged More Easily In Bankruptcy in the 9th Circuit

Posted on May 22, 2013
On May 22, 2013, the 9th Circuit Court of Appeals released its opinion in Hedlund v. The Educational Resources Institute, Inc., and Pennsylvania Higher Education Assistance Agency, Case 12-35258 (D.C. 6:11-cv-6281AA). That opinion (and other pending decisions) may have made it a little easier on student loan debtors to have their student loans discharged in [...

Bankruptcy Helps Lower Your Credit Card Minimum Payments

Posted on May 21, 2013
I know — a silly headline. Bankruptcy is admittedly an extreme way to lower your monthly credit card payments. But that depends on whether you are asking yourself the right question. If you are on the Net searching for ways to lower your payments, then you need to understand bankruptcy is also an option...

Can Tax Debt Help In Bankruptcy?

Posted on May 17, 2013
Overwhelming consumer debt and unpaid tax debt can feel like a one-two punch. To recover from the consumer debt hit, some consumer debtors must pass a means test and prove they are poor enough to qualify for bankruptcy relief. This can be a problem if household income is above median for the state...

To access this complete feed in the blog feed reader login or register for free.

Magistrates May Euthanize Senior Judges in Foreclosure Court

Posted on May 15, 2013
The Supreme Court of Florida has decided that non-judge magistrates will be hearing foreclosure cases in addition to retired senior judges. The new Amended Rule 1.490 would expand the use of general magistrates as an alternative to the use of senior judges to assist in processing foreclosure cases...

?Chapter 20? Lien Stripping Allowed by Fourth Circuit Appeals Court

Posted on May 12, 2013
The U.S. Court of Appeals, Fourth Circuit, has become the first U.S. Court of Appeals to approve “chapter 20″ lien stripping. Although virtually all U.S. bankruptcy courts allow the “stripping” (vacating and eliminating) of completely unsecured junior mortgages on homestead real estate, the Fourth Circuit is the first circuit-level appeals court to approve lien stripping [...

Student Loans: Two Appeals Court Cases Question the Brunner Test

Posted on May 11, 2013
The winds of change may be blowing regarding student loan dischargeability in bankruptcy cases, as two recent federal appeals court cases demonstrate. Section 523(a)(8) of the bankruptcy code states that in a chapter 7 or chapter 13 case, the bankruptcy court will not discharge any student loan debt “unless excepting such debt from discharge under [...

6 Do?s And Don?ts For Payments In A Chapter 13 Bankruptcy

Posted on May 11, 2013
A chapter 13 bankruptcy requires a Plan to repay some of a debtor?s obligations; afford a debtor the chance to catch up on those debts where he or she is behind, such as a tax obligation or a house payment; and re-classify some debts to pay only the secured amount rather than what is owed...

Why Your Bankruptcy Discharge Doesn?t End Your Case

Posted on May 10, 2013
Isn’t my case over? I got my discharge. Why’s the bankruptcy trustee still hounding me?, my client asks. People who’ve filed bankruptcy are focused on the discharge as their goal. With their discharge in hand, they think it’s all over...

Wall Street Banks Get Lower Rates Than Student Loans AND Can Bankrupt Their Loans From The Government?Fair?

Posted on May 09, 2013
Bankruptcy remains a source of financial relief for most borrowers. Most debts are discharged in bankruptcy and folks receive a “fresh start”. However, there is one huge exception that is not discharged automatically in any bankruptcy. Student loans...

Same-Sex Marriage and Bankruptcy

Posted on May 08, 2013
With the Supreme Court’s hearing two major cases addressing same-sex marriage this term, Hollingsworth v. Perry and United States v. Windsor, we have been getting questions about how same-sex marriages are dealt with in bankruptcy. The answer is, “it depends...

Sometimes In Bankruptcy It Is Good To Focus On Something Besides Yourself.

Posted on May 07, 2013
The term bankruptcy often sends people into a spiraling state of panic as I have discussed in prior articles. It is not unusual when discussing the bankruptcy process for people to break out in a cold sweat. Their pupils dilate as their flight or fight system kicks in from the fear that washes over them...

Do You Need Exact Debt Balance Amounts to File Chapter 7 or Chapter 13 Bankruptcy?

Posted on May 06, 2013
You may be putting off filing for Chapter 7 bankruptcy or Chapter 13 debt consolidation because of concern about not having the exact debt balances due on your credit cards and other debts. After all, bankruptcy involves a federal court filing under penalty of perjury...

No, Your Bankruptcy Lawyer Is Not Trying to Torture You

Posted on May 02, 2013
For people who are engaged in a profession that is based upon communication, lawyers can be very bad at communicating. Bankruptcy lawyers, including me, don’t always communicate effectively with clients. Like any other specialized profession, we tend to think and talk in jargon, and we forget that other people, including clients, aren’t always up to [...

What Are The Real Benefits Of The Bankruptcy Discharge?

Posted on April 28, 2013
A bankruptcy discharge is one of the primary reasons that a person files for bankruptcy protection. We all should know this, but do we really know what the bankruptcy discharge allows us to do? This is the question that really needs to be answered. First, we need to discuss what the bankruptcy discharge is and [...

Reduce Your Car Loan

Posted on April 27, 2013
It’s important to keep a car. We all know this. We need to get to work, and we need to shop for our family. Sometimes our circumstances change and a vehicle loan that was once affordable, well, no longer is. The law recognizes this and wants to help...

Trouble Getting a Mortgage Modification? Get Your Bankruptcy Court to Help!

Posted on April 26, 2013
Homeowners experiencing financial difficulties can avoid losing their homes by getting a mortgage modification. The trouble many people have is getting their mortgage company to agree to grant them an affordable modification. Recently, several Bankruptcy Courts have gotten involved in the mortgage modification process...

Marital Adjustment Allowed to Set Commitment Period

Posted on April 25, 2013
The Massachusetts Bankruptcy Court just issued an important opinion on the availability of the Chapter 13 marital adjustment to determine the applicable commitment period. The case is In re Abisso, Case No. 12-17888-WCH (Bankr. Mass 2013). The marital adjustment allows a Chapter 13 debtor to exclude from their plan certain independent expenditures of their non-filing [...

Random Bankruptcy Audits Stopped

Posted on April 24, 2013
Random audits of consumer debtors in bankruptcy cases have stopped. “Due to budgetary constraints, the USTP has indefinitely suspended its designation of cases subject to audit.” Source: U.S. Trustee notice. Material Misstatements The auditors looked for ?material misstatements” in consumer debtors’ bankruptcy schedules by comparing the documents to tax returns, bank statements, pay stubs and divorce decrees...

Bankruptcy 420

Posted on April 21, 2013
In honor of April 20th everywhere, and in the immortal Hollywood movie words of Jeff Spicoli, Hey dude, let?s party. But first, a quick drug trivia lesson. Who said ?Are you on drugs?? My Cousin Vinny?s Judge Chamberlain Haller. Don?t you just love that movie, I know I do...

Missouri Bankruptcy: Tax Refund Credits Protected

Posted on April 18, 2013
Missouri bankruptcy filers have more protection for their tax refunds now. Particularly working families have more certainty their financial needs won’t be disrupted when they need to file Chapter 7. Last year the Missouri legislature unanimously passed a bill that, among other things, provided an exemption for a “public assistance benefit...

Student Loan Bankruptcy Problem A Doozy

Posted on April 17, 2013
?Her entitlement to a discharge in bankruptcy is unquestioned.? She is “destitute? according to Chief Judge Frank H. Easterbrook of the 7th Circuit Court of Appeals in a recent opinion. These are the opening statements that begin a sad story. Despite her extreme circumstances, a 53 year old woman who had not been able to [...

Should You Buy a Car Prior to Filing Chapter 13?

Posted on April 14, 2013
You may want to consider buying a car prior to filing your Chapter 13 bankruptcy case. Filing bankruptcy isn’t a matter of going to your bankruptcy lawyer’s office, plunking your money down, and signing a few documents. It involves planning...

Stockton CA Bankrupt, Your City Next?

Posted on April 12, 2013
Cities filing bankruptcy! Chapter 9 bankruptcy, to be exact. Stockton California set off the wave last June, joined by another half dozen cities since. How come? Can’t pay the bills, well, duh. Which bills? How about a $900 million shortfall to Calpers, the state pension fund...

The True Difference Between 7s And 13s

Posted on April 11, 2013
Chapter 7 bankruptcies fix things; Chapter 13s allow the debtor to fix things. There are two main types of bankruptcies for consumers, and many articles have been written here at the Bankruptcy Law Network about the differences between Chapter 7s and 13s...

What to Do if You are Served with a Collection Lawsuit

Posted on April 10, 2013
Collection agencies will refer delinquent accounts to a law firm when they reach an impasse with you about the payment of a delinquent debt. Often times, collection agency owners are owned by or are associated with collection law firms, so from the collection agency?s perspective a lawsuit is just another step in the collection process...

Chapter 11 for Individuals vs. Chapter 13

Posted on April 09, 2013
Most people think that individuals cannot file for bankruptcy relief under Chapter 11–it’s only meant for big businesses. They’re wrong. Chapter 11 lets people who don’t qualify for Chapter 13 or need some of the special protections that Chapter 11 provides reorganize their debt...

Mortgage Servicer?s Biggest Jackpot Is Home Insurance

Posted on April 09, 2013
How would you like to pay for my spring vacation to Maui? Or make my house payment this month? What? you howl. What do I get out of paying your bills? Good question. Please repeat when your mortgage lender gets you to pay for insurance on your home that protects only the lender...

Elderly Folks Should Discuss Their Finances With A Bankruptcy Lawyer, Too

Posted on April 08, 2013
In a recent article, the New York Times stated that doctors are prescribing an unusual remedy for their older patients–see a lawyer! The article explains that doctors are increasingly worried about their elderly patients qualifying for needed benefits such as food stamps or other available assistance...

Bankruptcy & the XBox

Posted on April 07, 2013
Bankruptcy is the opportunity to get a “Fresh Start”. The Supreme Court defines the fresh start as: “[I]t gives to the honest but unfortunate debtor?a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt...

Related Law Bulletins

More owners facing foreclosure - Many paying a price for easy credit
Timothy Duggan, Shareholder in Stark & Stark's Real Estate Gro...

Ex-Spouses Can Ruin Each Other's Credit
Ex-Spouses Can Ruin Each Other's Credit By Kimberly Palmer, US New...

How Will My Divorce Affect My Credit?
A very good overview of some of the credit issues in divorce. ----...