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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

What can I do about my student loans?

Posted on January 29, 2010
Student loans are becoming more and more troublesome. People essentially mortgage their lives when they take out student loans. Student loans are not dischargeable in bankruptcy. Let’s say that again. Unless you can prove substantial hardship under the very difficult Brunner test, you won’t be able to discharge your student loans in bankruptcy...

Automatic Bill Payments from Your Checking Account and Bankruptcy Don?t Mix Well Together

Posted on January 29, 2010
No doubt, the convenience of having recurring monthly bill payments paid through an automatic deduction from a checking account is an attractive idea for busy people. After all, when the car payment is made without the need for even thinking about it, isn’t your time freed up to think about other things? It seems like [...

Can The City Charge Me For Code Violations If I Surrendered My Property in Chapter 7 Bankruptcy?

Posted on January 29, 2010
Even if you “surrender” your property in a Chapter 7 bankruptcy, the city or municipality can make you comply with code regulations. When you file a Chapter 7 bankruptcy, you have three choices on how to handle secured debt, such as a mortgage or property taxes...

Can I file bankruptcy for someone using a power of attorney?

Posted on January 28, 2010
Bankruptcy cases through people exercising powers of attorney are possible but tricky. Plan in advance and you'll be able to accomplish your objectives for those unable to speak for themselves.

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Are Chapter 13 Debt Limits Too Low?

Posted on January 28, 2010
Chapter 13 bankruptcy is especially well tailored to middle and upper middle class Americans who are having financial difficulty. In a Chapter 13 creditors get paid back at least some of what they are owed, and debtors participate in an affordable payment arrangement administered by a Chapter 13 Trustee...

Student Loans: Here?s the Best Way to Pay Them in a Chapter 13 Plan

Posted on January 28, 2010
Student loans, unlike most other unsecured debts, are not discharged after the completion of payments under a chapter 13 plan (unless you qualify for a rare finding of undue hardship). This unhappy fact makes careful drafting of the student loan debtor’s chapter 13 repayment plan especially important...

Professor Elizabeth Warren Explains the Mess We?re In

Posted on January 28, 2010
If you don’t know who Harvard Law School Professor Elizabeth Warren is, you should. She’s a plain-speaking champion of the American consumer and a noted authority on bankruptcy law. Jon Stewart recently hosted her as a guest on “The Daily Show...

Choosing a Bankruptcy Lawyer Today

Posted on January 28, 2010
There is a whole lot out there on how to choose a bankruptcy lawyer. I won’t rehash it all. Much of it is common sense: get a feel for the attorney, learn about your options, and get some information on fees, track record, and experience. I want to focus on the last [...

Bankrupt or Low Income? NC Residents Can Get Help With Prescription Drugs.

Posted on January 28, 2010
Many of my bankruptcy clients are unable to afford their medications. In a press announcement today I learned that North Carolinians who are unable to afford their prescription medicines can now get them for free. Attorney General Roy Cooper, the North Carolina Association of Free Clinics, and NC MedAssist announced today that a pilot program [...

How Should Mortgage Payments Be Made While in Chapter 13?

Posted on January 27, 2010
In many Chapter 13 cases, the debtors are supposed to continue (or resume) making your regular monthly mortgage payments directly to your lender. (In some districts, you make those payments through the Chapter 13 trustee, so I’m not talking to you folks...

Filing Bankruptcy gives you time

Posted on January 27, 2010
Many people in bankruptcy find their economic lives in shambles. This law gives you time to catch your breath and do what has to be done in your bankruptcy case

Risky Behavior in Bankruptcy: Inaccurate Paperwork, But Debtors Still Get Their Debts Discharged

Posted on January 27, 2010
A recent Kansas bankruptcy case, Wieland v. Viles, Adv. No. 09-7006 (Bky.D.Kan. Jan. 19, 2010), involved a married couple who filed a chapter 7 case together. The chapter 7 trustee asked the bankruptcy court to deny them a discharge under section 727 of the bankruptcy code, due to fraudulently transferring property before filing the case, [...

Can I Deduct My Student Loan Payment As An Expense On My Bankruptcy Petition?

Posted on January 27, 2010
You may be able to deduct your student loan payment as an expense on your bankruptcy petition if you file Chapter 7, but usually cannot if you file Chapter 13. As you probably know, student loan debts are usually not dischargeable in bankruptcy. That means that if you file a Chapter 7, you will still have to pay the [...

Public Access to Bankruptcy Filings

Posted on January 26, 2010
Did you know that you or anybody else can see all bankruptcy papers online? ?You can. ?It’s not free but it’s not expensive either. PACER is the Public Access to Court Electronic Records. PACER System lets anyone with a computer and Internet access get any information about any bankruptcy case...

Why Are Adversary Proceedings Necessary?

Posted on January 26, 2010
An Adversary Proceeding is defined as: A lawsuit filed within the Bankruptcy Case. If you are a debtor in bankruptcy, it is possible that you, or your attorney, may sue a creditor or someone else, or you may be sued by a creditor or even the bankruptcy trustee...

What Happens to the TV I Leased From Rent-a-Center if I File For Bankruptcy?

Posted on January 26, 2010
When you file bankruptcy, what happens to the TV you “rented” from Rent-a-Center depends on how the bankruptcy court views the contract you entered into with Rent-a-Center. The court could view the contract as a ?true lease?, which would mean that you would either have to assume or reject the lease...

Do Not Reaffirm Your Car In Massachusetts If Current

Posted on January 26, 2010
You may get a letter from your car lender, forcefully stating that you must reaffirm your car loan under the Bankruptcy Code. This simply is not true in Massachusetts. Massachusetts law says that a car cannot be repossessed if you are current on your payments, including insurance...

My Mail Person Will Know That I Filed Bankruptcy?

Posted on January 26, 2010
I received a phone call once from a very distressed client because I had placed on the outside of an envelope, United States Bankruptcy Court. Now the mailman knew that they filed bankruptcy and I have violated attorney client privilege. This was early on in my practice and a new scenario to me...

Bankruptcy protects you against claims and actions by States

Posted on January 25, 2010
The 11th amendment reserved all rights not given to the United States government to each of the states individually. But the Bankruptcy Clause gave to the United States the exclusive right to deal with bankruptcy.

What if I File Bankruptcy AFTER I Leave My Spouse and Home?

Posted on January 25, 2010
If you are planning on filing for bankruptcy soon after moving out of your marital residence, there are some potentially serious issues to consider. While filing for bankruptcy soon after separating from your spouse and leaving your home is entirely permissible, you should be sure you are fully aware of the consequences, particularly if you have equity in your [...

When Does Bankruptcy End And Life Begin?

Posted on January 25, 2010
All right !!! You’ve done some hard work, gone through lots of worry and fretting, and now that light is appearing at the end of the tunnel. Congratulations! Well done. Maybe your father wants to buy you a new car, or you want to look for a better job...

Who can?t file for bankruptcy?

Posted on January 24, 2010
Not everyone can file for a bankruptcy case. And not every type of business can file for a bankruptcy case either.

Why Won?t My Attorney Sign My Reaffirmation Agreement?

Posted on January 24, 2010
Most clients get a displeased shocked look when I tell them that I won’t sign a reaffirmation agreement for their car during their Chapter 7 bankruptcy case. A reaffirmation agreement is, in effect, a new contract where the debtor (my client) agrees with the creditor (not my c lient) that the debtor will be financially [...

Tax Refunds and Bankruptcy: ?Tis the Season!

Posted on January 24, 2010
Tax refunds are property of your bankruptcy estate. There are two times of the year this can be especially problematic. During Tax Season During tax refund season–the first four months or so of the year–you may be entitled to a tax refund...

10 Ways Banks Hurt You

Posted on January 24, 2010
Top 10 secrets banks do not want you to know.

How Much Does Bankruptcy Cost?

Posted on January 24, 2010
what are bankruptcy costs and fees in Massachusetts

Bankruptcy and Life Changing Events

Posted on January 24, 2010
Bankruptcy is often accompanied by other life changing events. These can be anything from the loss of a job or business to a divorce. Sometimes you are warned as to what is going to happen and sometimes you don?t. When you do know what?s going on, the timing of filing for bankruptcy can be critical...

What Is The Co-Debtor Stay?

Posted on January 24, 2010
Once you file a bankruptcy case, the automatic stay serves to prohibit creditors from taking any action against you. What if one of the accounts which is included in your bankruptcy is c0-signed by someone else? You, as the debtor, are protected by the automatic stay...

Bankruptcy and privacy ? your ?personally identifiable information? must be protected

Posted on January 23, 2010
Your bankruptcy is a public record. In some places, bankruptcy filings might even be published in a local newspaper. ?It will be on your credit report for as long as 10 years. Still, you are entitled to privacy – even in bankruptcy. Personally identifiable information must be protected...

Can I Keep My House If I File For Chapter 7 Bankruptcy?

Posted on January 23, 2010
You can keep your house in a Chapter 7 bankruptcy if you are current on your mortgage. If you are current on the mortgage, you can continue to pay the secured debt in a Chapter 7 bankruptcy while getting rid of your unsecured debt such as credit card debts...

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