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The Debt Podcast 
Hosted by Jay S. Fleischman, a bankruptcy and consumer lawyer located in New York City. Information and news designed to help you learn more about bankruptcy, debt relief, and consumer credit options.
Post Frequency: 4.9/day Last Entry: November 23, 2010 at 18:33:08 Recent Entries: 1537
Go to The Debt Podcast, find other Bankruptcy blogs, or browse all law blogs.
Glossary: Bankruptcy Petition
Posted on November 10, 2008BANKRUPTCY PETITION: Legal papers filed with the Court that start a bankruptcy case. If you liked that post, then try these...Exemptions and Unknown Values by L. Jed Berliner, Massachusetts Bankruptcy AttorneyProtected Massachusetts Home Sold After Bankruptcy: Money Also Protected by L...
How Does My Chapter 13 Bankruptcy Trustee Get Paid?
Posted on November 09, 2008Chapter 13 trustees manage payment plans by debtors. They take in money from debtors and pay out money to creditors. How does your chapter 13 bankruptcy trustee get paid, you wonder? The trustee is paid a commission out of the money you pay the trustee...
I Want to File Bankruptcy but My Attorney Tells Me I Shouldn?t. I Don?t Understand.
Posted on November 09, 2008Recently I have had a number of potential clients that I have had to advise bankruptcy should not be considered an option for them. Why in the world would I tell a ready, willing client and with money in hand to my legal fees NOT to file bankruptcy? The reasons could be many, but typically [...
Can Creditors Repossess Or Foreclose On Property After A Bankruptcy Is Discharged?
Posted on November 09, 2008Many people file for bankruptcy and keep their homes and cars. However creditors may sell property after a bankruptcy discharge is granted via repossession or foreclosure if a default under state law has been triggered allowing the sale of collateral for the loan...
Can Creditors Repossess Or Foreclose On Property After A Bankruptcy Is Discharged?
Posted on November 08, 2008Many people file for bankruptcy and keep their homes and cars. However creditors may sell property after a bankruptcy discharge is granted via repossession or foreclosure if a default under state law has been triggered allowing the sale of collateral for the loan...
Bankruptcy Works, Doesn?t Mean You ?Walk Away?
Posted on November 08, 2008I was sitting in court today waiting for my case to be called, when my attention was drawn to the story a debtor in another case was telling. He and his family had been victimized by a fraudulent debt settlement scheme. He had sent thousands of dollars to a law firm in Florida, [...
Why Home Loans are not Reaffirmed
Posted on November 07, 2008Frequently debtors are solicitated with reaffirmation agreements on home loans. This is probably largely due to a misunderstanding or misconception by the real estate industry of in applying the new bankruptcy laws incorrectly to real estate loans. With the advent of the new Bankruptcy Laws of 2005, it was assumed that “Ride Thru” was eliminated...
IRS personnel feed flow of bankruptcy misinformation
Posted on November 07, 2008The voice on the phone at the IRS told my freshly filed bankruptcy client flatly that “federal taxes could not be included in any form of bankruptcy.” Sorry, IRS, but that is absolutely untrue. The automatic stay applies to virtually every creditor trying to collect a debt...
Glossary: Bankruptcy Estate
Posted on November 06, 2008BANKRUPTCY ESTATE: The sum total of the debtor?s legal and equitable interests as of the commencment of the case. This is the collection of assets and legal rights that a trustee administers for the benefit of creditors. Upstate New York Bankruptcy Attorney Peter Orville discusses property of the bankruptcy estate...
Glossary: Avoidance
Posted on November 06, 2008AVOIDANCE: The Bankruptcy Code permits the debtor to eliminate (avoid) some kinds of liens that interfere with an exemption the debtor has claimed. The trustee may also avoid a preferential transfer to a creditor made before the bankruptcy case was filed...
President Elect Obama - Congratulations - Please Amend The Bankruptcy Code
Posted on November 05, 2008President Elect Barack Obama made many promises along the campaign trail. The most important in my view was the promise to change the Bankruptcy Laws. The bankruptcy laws must be changed to stabilize the housing market. By changing the bankruptcy laws, President Obama will probably create an avalanche of bankruptcy filings; but, he will be [...
Glossary: Avoidance
Posted on November 04, 2008AVOIDANCE: The Bankruptcy Code permits the debtor to eliminate (avoid) some kinds of liens that interfere with an exemption the debtor has claimed. The trustee may also avoid a preferential transfer to a creditor made before the bankruptcy case was filed...
Important Announcement For All Americans
Posted on November 04, 2008Today is Election Day. Kind of a big deal. Doesn’t matter who gets your vote, the important thing is that someone gets your vote. Even if you think your state is locked-and-loaded for one candidate, you never know. Remember Florida in 2000? Find your polling place...
Will The Election Affect The Bankruptcy Laws?
Posted on November 03, 2008Bankruptcy Law is Federal legislation. That means that whoever wins the white house on November 4 may ultimately control the interpretation of the current or future bankruptcy laws. This can happen in two ways. First, if Congress passes legislation to change the current bankruptcy law, the president will have the right to veto or approve those [...
Six Bankruptcies to Save Home Not Scheme to Defraud
Posted on November 03, 2008Linda Smith did not scheme to defraud her mortgage creditor when she filed one bankruptcy case after another to stop foreclosure sales on her Wichita home, the U.S. Bankruptcy Court for the District of Kansas ruled, denying the creditor’s request for in rem stay relief, two years of unfettered freedom to pursue state court foreclosure...
An Important Announcement For All Americans
Posted on November 03, 2008Tomorrow is Election Day. Kind of a big deal. Doesn’t matter who gets your vote, the important thing is that someone gets your vote. Don’t know where to vote? Enter your address below and you can find out. Even if you think your state is locked-and-loaded for one candidate, you never know...
Glossary: Automatic Stay
Posted on November 02, 2008AUTOMATIC STAY: As soon as a bankruptcy is filed, the Bankruptcy Court enters an Order that immediately stays, or stops, all collection actions against you. This means that foreclosures, garnishments, attachments, lawsuits, collection calls and letters, and even regular monthly bills are stopped...
Ten Things I?d Change About BAPCPA-Part Five
Posted on November 02, 2008Continuing with my wish list of changes to BAPCPA, next on my list are some changes to the expense side of the means test equation. In Part Three I talked about equalizing some income-side provisions to equalize the effect of those changes, and to make the provisions fair...
KCK 13 Trustee Changes Payment Address
Posted on November 01, 2008Payments to the chapter 13 bankruptcy trustee for Kansas City, Kansas, now must be sent to a Memphis, TN, lock box. William H. Griffin, Standing Chapter 13 Bankruptcy Trustee, has changed banks to SunTrust Bank. He is no longer accepting payments at his Fairway, Kansas, office or at meetings of creditors or court hearings...
What is proper ?standing??
Posted on October 31, 2008?Standing,? in the context of bankruptcy and state law, means the right to be a party to a litigated matter. A company claiming to own the right to file a claim in bankruptcy court or a lawsuit to foreclose in state court must be the ?owner of the underlying promissory note and mortgage...
Three Years Later: The 2005 Bankruptcy Act No Clearer Than Before
Posted on October 31, 2008The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act has now been in effect for three years. Is it any clearer than before? Let’s examine a few of the hotly litigated problem area topics and how those topics have “played out” admidst the various circuits around the country...
A Corporation Will Not Protect You From The Trustee
Posted on October 31, 2008Recently, a well-dressed, well-spoken person came to my office to discuss filing for bankruptcy. A quick review of claims by creditors revealed several lawsuits and an assortment of credit card debt. There were two mortgages and two car loans. Even though both husband and wife were working, the total monthly income was barely enough to [...
The Fox Guarding The Hen House: Who?s Keeping Mortgage Servicers In Check?
Posted on October 31, 2008Countrywide Home Loans, Inc., has been in the news alot lately. One story recently reported in The Wall Street Journal is probably resulting in lots of cheering over at Countrywide. In the case of In Re Sanchez, a bankruptcy court ruled that the United States Trustee did not have standing to bring a complaint in bankruptcy court [...
What Does ?Property Of The Estate? Mean?
Posted on October 31, 2008Property of the bankruptcy estate is defined by 11 USC section 541. It specifically excludes certain assets of a debtor. Other assets may be property of the estate at first, but later be excluded because they are abandoned by the trustee, redeemed by the debtor, sold, or claimed as “exempt” by the debtor...
Student Loans: How to Pay Them in a Chapter 13 Bankruptcy
Posted on October 31, 2008Unless the bankruptcy debtor can satisfy the daunting legal standard of “undue hardship,” student loans are not dischargeable in a bankruptcy case. However, the mere fact that student loans will not be discharged does not mean you should give up on the bankruptcy process...
Tenants? Rights When Landlord Files Bankruptcy
Posted on October 31, 2008What are a tenant’s rights when a landlord files for bankruptcy protections? Here’s good news for the tenant. A renter keeps all rights under a lease when a landlord files a bankruptcy case. The landlord, and the landlord’s bankruptcy trustee, cannot interfere with the use, possession, or quiet enjoyment of the apartment or premises...
How Does a Chapter 13 Work?
Posted on October 31, 2008When you file a Chapter 13 bankruptcy case, you are required to file several forms with the bankruptcy court. Among other things, you must list your income and expenses, assets, debts, and property transactions. The key to the Chapter 13 filing, is your proposed repayment plan...
Appeals Court: 60-Month Plans Required for Above-Median Chapter 13 Debtors
Posted on October 30, 2008On October 27, 2008, Coop v. Frederickson, No. 07-3391, was decided by the Eighth Circuit Court of Appeals, adding its voice to the national confusion over the required length of chapter 13 payment plans. The court of appeals ruled that for a chapter 13 debtor whose income was above the median, but whose Form B-22C disposable [...
Is A Bankruptcy Lawyer or Judge Coming To A School Near You? The C.A.R.E. Program: What Is It?
Posted on October 30, 2008With the new school year, your kids may have brought home a flyer about a C.A.R.E. program being scheduled. C.A.R.E. stands for Credit Abuse Resistance Education and is a program created by Chief Judge John Ninfo (U.S. Bankruptcy Court - Western District of New York)...
Where Can I Find The Bankruptcy Law?
Posted on October 30, 2008The current bankruptcy law is based on the Bankruptcy Code enacted by Congress in 1978. It is found in Title 11 of the U.S. Code, and is supplemented by the Federal Rules of Bankruptcy Procedure. In addition, each District has its own local rules which determine the procedures used in the bankruptcy courts in that [...
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New Jersey Legal Update - Podcast # 57
This week's New Jersey Legal Update podcast will address federal l...
New Jersey Legal Update - Podcast # 53
This week's New Jersey Legal Update podcast will discuss the landm...
The Mortgage Forgiveness Debt Relief Act
Phantom Income Relief on Debt Cancellation
Collection Agencies and Creditors
How to deal and stop the harassment
Bankruptcy Law
A complete prime (pre-2005)
The Paulson Toxic Mortgage Debt Security Act: The Biggest Government Bailout of All Time
Legislative Proprosal for Treasury Authority to Purchase Mortgage-related Assets
Emergency Economic Stabilization Act of 2008
Bailout Bill HR124
Truth In Lending Act
Consumer Loans and Consumer Credit Protection Act
If I unknowingly cash a fictitious check, am I responsible to repay the bank?
Definitely, please go to court! Those crooks should be behind bars!...
Some elses debt is being reported by a bank to the crecit agencies. They know and have ackowledged it is not mine, yet it is still being listed as mine. it was my son's and no I didn't co-sign. It is adversly
It is easy for the bank and the credit reporting agencies to clear this confusio...
Am I obligated to pay on a home equity line of credit that has been discharged through chapter 7?
The reaffirmation is done through the payments you have been making to the compa...
A month or so ago I was with some new people I met, and one of them asked me to cash a couple of checks he had, that he couldn't cash because he didn't have a bank account or a driver's liscence. I didn�
If the call was from your bank it may mean that the checks were bad. You may hav...
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If I unknowingly cash a fictitious check, am I responsible to repay the bank?
Definitely, please go to court! Those crooks should be behind bars!...
Some elses debt is being reported by a bank to the crecit agencies. They know and have ackowledged it is not mine, yet it is still being listed as mine. it was my son's and no I didn't co-sign. It is adversly
It is easy for the bank and the credit reporting agencies to clear this confusio...
Am I obligated to pay on a home equity line of credit that has been discharged through chapter 7?
The reaffirmation is done through the payments you have been making to the compa...
A month or so ago I was with some new people I met, and one of them asked me to cash a couple of checks he had, that he couldn't cash because he didn't have a bank account or a driver's liscence. I didn�
If the call was from your bank it may mean that the checks were bad. You may hav...
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