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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.
What do you mean by ?cash? when completing my bankruptcy schedules?
Posted on December 15, 2009One of the questions you will need to answer when you file your bankruptcy schedules is how much cash you have. This means how much cash you have in each and every bank account, savings account, money market account, buried somewhere, someone else is holding for you, that you have on your person, in your [...
What is ?consumer debt? in bankruptcy? One of a series.
Posted on December 14, 2009Back in 2005, Congress passed a new bankruptcy law called BAPCPA. Supposedly, this law would prevent bankruptcy abuse and protect consumers. It hasn’t worked out that way. Many people feel that BAPCPA helped bring about the financial meltdown which has been ruining our economy and the lives of millions of American families...
Divorce, Bankruptcy And Conflict Part 2
Posted on December 14, 2009Divorce and Bankruptcy present a daily problem to all including the bankruptcy lawyer. Chapter 13 was designed to be a fluid bankruptcy in which it can change along with changes in the debtors lifestyle. The case can be modified, converted, dismissed, and dismissed and refiled...
#5 What About My Spouse?s Privacy?
Posted on December 14, 2009#5 What About My Spouse’s Privacy? This continues the series ?I’m Filing, My Spouse Isn’t-What Happens?? The series is introduced here. It’s a pity, but your spouse simply won?t have much privacy here. It is part of the ?bankruptcy contract? so to speak ? you must fully and truthfully disclose, disclose, disclose, and in return you get [...
Pre-Bankruptcy Leased Vehicles Purchased After Expiration of the Lease: Are Such Agreements Enforceable?
Posted on December 14, 2009It’s common for persons to lease a motor vehicle, rather than to purchase it using a traditional vehicle loan. It’s also common for such persons to file chapter 7 bankruptcy before the vehicle lease is finished. Often the debtor will continue making the payments on the vehicle, retaining it until the end of the lease [...
In a Chapter 13 Bankruptcy, Pay Early and Pay Often
Posted on December 14, 2009The Bankruptcy Code requires Chapter 13 debtors to make their first plan payment within 30 days of filing their case, but they should make their first payment as early as possible. If you file Chapter 13, you are required to make your first payment within 3o days of filing your case...
You Mean My X-Wife Will Find Out About My Bankruptcy?
Posted on December 13, 2009Divorced debtors should take extra care to insure that all information on their bankruptcy schedules is completely accurate. When a client?s been divorced, that raises red flags for me. Are there ?hold harmless? type debts that might not be dischargeable in Chapter 7? Should we consider a Chapter 13? How much alimony is the debtor required [...
What?s a ?community claim?? ? One of a series
Posted on December 13, 2009Wisconsin, not to mention quite a few of the states in the West and Southwest, recognizes “community property” between husband and wife. Usually we think about “community property” in connection with a divorce and matrimonial proceedings...
Can I Buy A New Car While I Am In Chapter 13 Bankruptcy?
Posted on December 13, 2009Because of the fact that a Chapter 13 bankruptcy will normally take 36 months to 60 months to complete, it is a common occurrence that a debtor’s car will need to be replaced during the life of the Chapter 13 Plan. Generally speaking (and assuming you qualify for a car loan) the Court will approve the [...
How Long Will My Chapter 7 Case Take?
Posted on December 12, 2009Chapter 7 bankruptcy is a fairly quick process that generally lasts about four months after you file your case. Your case will be filed electronically. A few minutes after the case is filed, you will be given a hearing date. This hearing is called a 341 hearing (after section 341 of the Bankruptcy Code) or a [...
What kind of ?claims? are there in bankruptcy? One of a series
Posted on December 12, 2009People considering bankruptcy must tell their lawyer every claim that anyone has against them. A claim is basically a right to payment. Somebody who holds a claim is a “creditor”. Claims can come in many varieties. Claims may be: reduced to judgment or not A judgment is a court order to pay money immediately to the creditor – who as [...
The Supreme Court looks at a ?discharged? student loan
Posted on December 12, 2009The United States Supreme Court just heard the Espinoza case. You may have heard about it in the news. The debtor filed a chapter 13 case. In his plan, he called for his student loan to be paid in full, without interest. And the debtor did just that...
New bankruptcy cram down legislation? Don?t bet on it!
Posted on December 11, 2009Joe Congress is such a flirt. As has been reported earlier this week on BLN, the House of Representatives is beating a dead horse ? modification of mortgages in bankruptcy. This is the same piece of legislation that got nowhere in the Senate earlier this year...
Divorce and Bankruptcy Conflicts Part 1
Posted on December 11, 2009Your sitting at your desk at the next client comes in. A couple sits down in front of you and you begin the interview. Fifteen or Twenty minutes into the interview you suspect something is up and the couple announce not only do they wish to file bankruptcy but they are going to get a [...
What?s ?bankruptcy assistance? and why do I care? ? One of a series
Posted on December 10, 2009You may remember from an earlier post that you are probably an “assisted person”. Another of our posts explained to you that your bankruptcy lawyer seems to be a “Debt Relief Agency”. What do “Debt Relief Agencies” do for “assisted persons”...
What?s a ?claim? in bankruptcy? ? One of a continuing series
Posted on December 10, 2009The point of bankruptcy is to get out of debt. You get out of debt by getting a “discharge” in bankruptcy. What’s the point of getting a discharge? Well, if you get a discharge in bankruptcy, you are no longer liable to pay any creditor on account of a “dischargeable claim...
$480,000 Student Loan Debt Disqualifies Applicant From Obtaining License to Practice Law
Posted on December 09, 2009A panel of New York state court judges has once again denied Robert Bowman’s application to be admitted to the practice of law in that state, citing lack of “character and fitness” due to his unusually large student loan debt of $480,000...
Cold Weather Rule In Missouri
Posted on December 09, 2009It is critical that you be aware of the Missouri Cold Weather Rule this winter season. The Missouri Attorney General has outlined the information to help keep you warm. Unfortunately many will try and light bar-b-que’s inside their homes or kerosene heathers because they are unaware of this rule...
When Will My Chapter 7 Bankruptcy Case Be Over?
Posted on December 09, 2009If you filed your Chapter 7 bankruptcy case today, you would reach the finish line in about 100 days. But what happens during those 100 days? Here is the typical process: Your 45-50 page bankruptcy petition is filed electronically with the court. A trustee (another lawyer) is assigned to your case to review the petition...
What You Need To Do Today to Prepare for Bankruptcy
Posted on December 09, 2009Some clients are easier to work with than others. Its all about being prepared. Here are some simple steps you can take to make your case less stressful on yourself and your bankruptcy lawyer. Stop using all of your credit cards immediately. Ideally, you will want to make sure that there was little to no purchase activity [...
If I File Bankruptcy, Do I Have to go to Court?
Posted on December 09, 2009I know very few people who ENJOY going to court. In seventh grade, however, I remember taking a trip to the local courthouse just to see a trial in action. Unfortunately, I walked in on a family court matter and I could feel the enormous stress. When I think of court, I think of uncertainty...
Judicial Modification Of Mortgages In Bankruptcy Is Returning
Posted on December 08, 2009Tomorrow, the House of Representatives is scheduled to take up the appropriately named Wall Street Reform and Consumer Protection Act (H.B. 4173). Of keen interest to us on Bankruptcy Law Network is a provision allowing for the judicial modification of mortgages in bankruptcy...
What?s an ?assisted person? and why do I care?
Posted on December 08, 2009The Bankruptcy Code was amended in 2005 to make it seem harder for people to file a bankruptcy case. Most people who file bankruptcy cases are just like you. Your debts constitute mostly “consumer debts”. For today, let’s think of a “consumer debt” as a debt you incurred for your personal reasons and not for [...
Helping family farmers in chapter 12 bankruptcy
Posted on December 08, 2009Lakelaw represents people from Chicago to Milwaukee. Here in Northern Illinois and Southern Wisconsin, there are not so many family farmers anymore. A lot of territory which used to be used to grow food and animals has now become subdivisions. Maybe the subdivisions are ghost-towns now that the real estate has melted down...
Will You Owe Interest Or Penalties On Credit Cards That Are Charged After Filing Bankruptcy?
Posted on December 08, 2009Credit cards and loans owed at the time a bankruptcy case was filed are subject to being discharged in bankruptcy, but once a case is filed any new debts that come up after that file date are normally not. The date of filing serves as a cut off date in most Chapter 7 bankruptcy cases, [...
Chapter 7 Debtors Must Supply Trustee With Information About Child Support Payments
Posted on December 08, 2009In a recent Chapter 7 341 hearing, the Chapter 7 trustee asked my client if he had any child support obligations. My client does and the trustee proceeded to hand my client a form asking for the name, address, and telephone number of the custodial parent (client’s ex-wife) as well as the address and phone [...
Video: Getting a Bankruptcy Discharge
Posted on December 08, 2009Do I get a discharge if I stop making my chapter 13 bankruptcy payments? I did not reaffirm my mortgage in my chapter 7 bankruptcy, may I walk away? Bankruptcy discharge or dismissal, what is the difference?
Don?t Cave In and Apply for Department Store Credit Card
Posted on December 08, 2009Tis the season for Christmas spending, and this weekend I entered a Department Store against my will. I hate shopping, but that’s another story. At checkout, the cheery young sales associate asked me a simple question. ”Would you like to save 10% on your purchase today?” (I just love this sales pitch...
What do ?insider? and ?affiliate? mean and why do I care? ? First of a series
Posted on December 08, 2009The Bankruptcy Code is written in English – but sometimes it’s not in a language we understand. ”Insider” is one of the words defined in the Bankruptcy Code. So is “affiliate”. Why does it matter to you? Well, lots of people borrow money from friends, family and relatives...
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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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