The Debt Podcast: Bankruptcy

Home -> Law Blog Directory -> Bankruptcy 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

Bankruptcy

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

Can Property Be Sold During Bankruptcy After A Motion For Relief From Stay Has Been Allowed?

Posted on April 19, 2008
Houses and other property can be sold while someone is in bankruptcy, but there are specific rules that must be followed when you do it. As Brett Weiss said in his article Can I Sell My House While I?m In Bankruptcy?, you must get court approval before property is sold...

Why Is the Stock Market Doing So Well While I?m Doing So Badly?

Posted on April 19, 2008
Jobs are bring cut. Housing prices have fallen off a cliff. Wages are stagnant. The “R Word”–Recession–now seems to be accepted by economists as what the economy’s in, and even the “D Word”–Depression–is being tossed about...

Bankruptcy discharge and debts incurred by fraud

Posted on April 19, 2008
Debts tinged with dishonesty are part of a small group of claims where the creditor has to take action in the bankruptcy to avoid their discharge. Most debts that are non dischargeable in a bankruptcy case are so just because of the nature of the debt: recent taxes, family support, drunk driving judgments...

Exemption in Proceeds of Sale of Exempt Property Upheld

Posted on April 18, 2008
The United States Court of Appeals for the First Circuit recently held In re Cunningham, 513 F.3d 318 (1st Cir. 2008) that the proceeds of a sale of exempt property retained exempt status. A creditor in the bankruptcy case had obtained a ruling that its debt was nondischargeable under 11 U...

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

Jones v. Wells Fargo Scheduled For Oral Argument

Posted on April 18, 2008
United States District Judge, Helen G. Berrigan, has scheduled oral argument of the appeal by Wells Fargo Bank in the Jones v. Wells Fargo case.� Argument is set for June 25, 2008 at 9:30 a.m. in Section “C” of the United States District Court for the Eastern District of Louisiana in New Orleans...

Massachusetts Means Testing Decision

Posted on April 18, 2008
Massachusetts Bankruptcy Judge Feeney recently held in the case of In re Guerriero, 2008 WL 321303 (Bkrtcy.D.Mass. 2008) that a debtor could deduct payments for secured property on their means test form even if they planned to surrender the property. The Court agreed with a previous decision by Chief Judge Boroff reaching the same [...

The Homestead Cap and the Transfer of Trust Property

Posted on April 18, 2008
The Bankruptcy Appellate Panel for the First Circuit in the case of In re Aroesty, 2008 WL 976842 (1st Cir.BAP 2008) recently considered whether the transfer of real estate from a trust in which the debtor was the sole beneficiary to himself constituted a transfer of an interest within 1215 days resulting in a limitation [...

Can I Sell My House While I?m In Bankruptcy?

Posted on April 18, 2008
I’m often asked whether a client can sell his or her (or their) house while they’re in a bankruptcy. The answer is, “Yes,” but it isn’t quite that simple. Once someone files for bankruptcy relief, whether under Chapter 7, Chapter 11, Chapter 12 or Chapter 13, something called the Bankruptcy Estate is created...

Sallie Mae Warns of ?Train Wreck? in Student Loan Market

Posted on April 17, 2008
The chief executive of Sallie Mae warned of a “train wreck” in the student loan market today. The headline evokes fears that yet another shoe is about to drop in the national credit crisis. However, Chief Executive Al Lord was in Washington seeking taxpayer subsidies of his business...

The 2005 Bankruptcy Act: Bankruptcy Filings Are Increasing

Posted on April 17, 2008
There was a lot of hoopla about the reasoning behind the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. When it was first enacted, some thought that bankruptcy was going to be nearly impossible for consumers. And, at first, bankruptcy filings were slow as noted by my colleague and fellow blogger, Peter [...

Equity Cushion Standard for Adequate Protection

Posted on April 17, 2008
Secured creditors of a debtor in bankruptcy are entitled to adequate protection against erosion in their collateral value. Debtors’ attorneys often argue that adequate protection exists by pointing to a so-called “equity cushions.” An equity cushion exists when the debtor has sufficient equity in the collateral to protect against its depreciation and the [...

A Debtor Must List All Debts in Bankruptcy

Posted on April 17, 2008
Sometimes people contemplating bankruptcy do not want to list all of their debts. This can be the case for a variety of reasons. Often it is because a person owes money to a family member or friend. However, all debts must be listed in a bankruptcy, whether or not they are dischargeable...

Bankruptcy: Don?t Represent Yourself!

Posted on April 16, 2008
My friend, Rachel Foley posted an excellent note on not representing yourself in bankruptcy.� I read this almost immediately after returning to my office from a Chapter 13 ?Meeting of Creditors? ? the hearing all debtors have to go through after filing...

Don?t Charge Your Bankruptcy Fees

Posted on April 16, 2008
Seems obvious, yes?� Not to everyone.� Use of a charge card without the intent to repay is fraud, whether charging a purchase, or making a cash advance,�or using a�convenience check. If the bankruptcy need is immediate, ask your attorney about a Chapter 13 filing with an affordable retainer and monthly payments...

Bankruptcy Filings Rise 38% in 2007: What Does That Mean For 2008

Posted on April 16, 2008
Recently, the Administrative Office of the United States Courts released the bankruptcy filing information for 2007.� Personal bankruptcy filings reached 822,590� and business bankruptcy filings reached 28,322, for a total of 850, 912.� The number of bankruptcy filings�rose approximately 38%�over the 2006 number of 617,660 filings...

If My Income Increases, Do I Have To Amend My Bankruptcy Petition?

Posted on April 15, 2008
It is unlikely the bankruptcy�petition has to be amended if your income increases after the case is filed.� This is because the bankruptcy petition, which is a document whose accuracy you have verified under penalty of perjury, is supposed to accurate as of the date you signed it, and as of the date the case [...

Lawsuits and Bankruptcy

Posted on April 15, 2008
Repeat after me: “Bankruptcy stops collection lawsuits. Bankruptcy stops collection judgments.” Now, go write this on the blackboard 100 times. Bankruptcy is a federal right, direct from the U.S. Constitution. Collection lawsuits are state law and they lose out to the superior federal law...

Bankruptcy and Charge-Offs

Posted on April 15, 2008
You can still file bankruptcy on a charged-off debt.� Any statement otherwise violates federal law and can put money in your pocket.� Please, PLEASE, immediately write down all details of the call and contact your attorney.� I must repeat the February 15, 2007 post of my colleague, Susanne Robicsek...

Financial Crisis Spreads to Retailers

Posted on April 15, 2008
As the Fed has pumped up the money supply, prices are inevitably rising. Gas, now food, increasing first. With mortgage-home equity borrowing having dried up, it seems people are using credit card debt to make up the difference. This is not a good strategy...

Proof of Social Security Number at Section 341 Meetings

Posted on April 14, 2008
Bankruptcy debtors are required to provide evidence of their social security numbers at the Section 341 meeting of creditors. Of course, a social security card is a good way to do this. However, these flimsy cards do not always withstand the ravages of time, so alternatives are often needed...

Means Test vs. Actual Expenses

Posted on April 14, 2008
Decisions nationwide are all across the board on whether one should use the IRS-allowed expenses or actual expenses in calculating the Means Test.� A recent decision in Massachusetts made one ruling, on one test, in one set of circumstances, and expressly excluded application to other situations...

No Tax Stimulus Rebates To Spend If Filing For Bankruptcy?

Posted on April 14, 2008
If people file for bankruptcy before the receipt of the stimulus rebates, they may be taken by the bankruptcy courts and used to pay a pennies on the dollar towards general unsecured debts like credit cards. For people filing for bankruptcy before the rebate checks are received, they may not have a choice [...

Just One More Time For the Record: Think Four Times!

Posted on April 14, 2008
In Rachel Foley’s recent posting here, she urges readers to think once, twice, three times about trying to represent yourself in bankruptcy. About a month ago, I posted on a “painful to watch” 341 hearing with two debtors who tried to use a bankruptcy petition preparer and save money...

180 Day Bar to Subsequent Bankruptcy Filing

Posted on April 14, 2008
Usually individuals can refile bankruptcy cases after they are dismissed, despite there being limitations on the automatic stay in some circumstances with multiple filings. However, there is an important limitation found in Section 109(g) of the Bankruptcy Code...

10th Circuit Holds Chapter 13 Debtor has Standing to Sue on Behalf of Estate

Posted on April 14, 2008
The 10th Circuit Court of Appeals recently held, joining four other Circuit Courts, that Chapter 13 debtors have standing to sue on behalf of their bankruptcy estate. In the case of Smith v. Rockett the Court noted, over a dissent, that a Chapter 13 debtor was a debtor in possession for purposes of Bankruptcy [...

Six Months of Paycheck Stubs: Is It Really a Requirement?

Posted on April 13, 2008
You may have heard that you need to provide your lawyer with six months of paycheck stubs (advices of payment) if you want to file a bankruptcy case.� While most persons will end up doing so, the actual legal requirement is not�that stringent. The bankruptcy law requires, in�section 521(a)(1)(B)(iv), that you file with the court copies [...

George Will and the simple world

Posted on April 13, 2008
George Will’s recent column on “economic hypochondria” is both simplistic and elitist. While his point about the extent to which media and politics have magnified the currrent sense of economic doom have substance, his comments on sub prime mortgages and student loans are the product of an Ivy League education and [...

Rescheduled Foreclosure Sales: Enough Is Enough!!

Posted on April 13, 2008
How many times may a foreclosing mortgagee reschedule the sale after a bankruptcy is filed?� In Massachusetts, maybe once is enough. It has been the accepted custom to allow one rescheduled sale, to preserve the status quo in case a bankruptcy filing is quickly dismissed...

CHAPTER 7 BANKRUPTCY TRUSTEE FEES

Posted on April 13, 2008
So you did all that work to prepare your case and file for Chapter 7. �Likewise, your attorney charged you $1000 to $5000 to help you get all the forms correct and represent you in the matter. �So after about 20 to 30 hours later, there are now about 30 to 45 pages of documents [...

Exclusions from the Bankruptcy Estate: Education Savings Plans

Posted on April 13, 2008
The general rule is that all property of the debtor becomes property of the bankruptcy estate once a bankruptcy case is filed. This property is then subject to exemption by the debtor or administration by the trustee (in a Chapter 7 case). However, there are several exclusions from the bankruptcy estate that operate to prevent [...

Previous | Next

Related Law Bulletins

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...