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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

Can I Keep My Favorite Credit Cards Off My Bankruptcy?

Posted on April 04, 2009
“No, you are required to include all of your debt, including credit cards, when you file bankruptcy”, says Illinois Bankruptcy Attorney Andy Miofsky. Some clients ask whether they have to list one or two of their favorite credit cards. They want to know whether they can keep using those cards after they file...

Bankruptcy Law Network Contributor Brett Weiss Testifies Before Congress

Posted on April 04, 2009
Maryland consumer bankruptcy attorney, and Bankruptcy Law Network contributing writer, Brett Weiss testified before Congress today. In testimony before the Judiciary Commercial and Administrative Law Subcommittee on April 3, 2009, Brett testified in favor of proposed legislation that would regulate interest rates, excessive late fees and other practices and tactics of the credit card industry that are [...

Practice Tip: Include Proof of Insurance on Schedules

Posted on April 03, 2009
Lenders typically hire an attorney to send debtors a letter demanding proof of insurance coverage on houses and vehicles that secure debt. Just about every written loan contains boilerplate language requiring the borrower to provide and maintain insurance protection over the collateral...

Statement of Financial Affairs: What Is It?

Posted on April 02, 2009
This is the first in a series of blogs about the Statement of Financial Affairs and the questions it asks. The Statement of Financial Affairs (SoFA) is a rather long document that is filed in every bankruptcy case. It consists of 18 questions if you don’t have a business, and 25 if you do...

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Who Has The Title To My Car During My Bankruptcy Case?

Posted on April 02, 2009
Your lender, or more accurately, the lienholder who is named on the title retains possession of the title during your bankruptcy case. Bankruptcy lawyer Andy Miofsky says “Neither the Court nor the trustee nor your bankruptcy lawyer ever receive your title...

Celebrity Bankruptcy

Posted on April 01, 2009
In his article “Is Filing Bankruptcy Embarrassing?”, Illinois Bankruptcy Attorney, Andy Miofsky points out a number of reasons why you should not be embarrassed about filing for bankruptcy, one of which is the fact that major corporations routinely file for Chapter 11 bankruptcy as a way to get their debt under control...

Bankruptcy Attorney Has Duty to Check on Alleged Perfection of Security Interest, Idaho Court Rules

Posted on April 01, 2009
According to an Idaho bankruptcy court, a lawyer has an obligation to check whether a motor vehicle security interest has been properly filed and perfected, based upon new bankruptcy code section 704(b)(4)(D)’s requirement that a lawyer certify, after an “inquiry,” that the information in the bankruptcy papers is correct...

Can I Pay Back My Debts After Bankruptcy?

Posted on April 01, 2009
Nobody wants to file for bankruptcy, but sometimes it’s the best thing. Your finances are a mess, the rent is past due and the car is out of gas - so you do what you need to do. Let’s face it - you’re not proud of filing for bankruptcy...

When Will I Get My Car Title After I File Bankruptcy?

Posted on April 01, 2009
Attorney Andy Miofsky says “You should get your car title after you receive a discharge at the end of your chapter 13 case.” Most bankruptcy courts require the chapter 13 trustee to serve as the paying agent for car loans. There are a few exceptions, but generally you pay a monthly amount to the trustee and the trustee uses [...

Student Loans Discharged; Court Rules That Wife?s Income Not Relevant in Determining Income for ?Undue Hardship? Analysis

Posted on April 01, 2009
A Minnesota bankruptcy court recently held that the income of a non-debtor wife should not be considered to increase the income of a chapter 7 debtor, for purposes of considering whether the husband’s student loans should be discharged as constituting an “undue hardship...

Ten Reasons to Delay Filing Bankruptcy! Reason No. 4: Pre-Bankruptcy Transfers

Posted on March 31, 2009
In determining when to file a bankruptcy consideration should be given to whether you have made any transfers which can be reversed. In certain situations the Trustee or a Creditor may be able to recover property or money that has been transferred and have those assets brought back into the bankruptcy estate to be available [...

Massachusetts: Means Test Not Safe Harbor in Chapter 7

Posted on March 31, 2009
Massachusetts Bankruptcy Judge Rosenthal issued an opinion recently in the case of In re Boule, No. 08-43199-JBR (March 18, 2009). The United States Trustee moved to dismiss the case because the debtor’s income and expense schedules indicated that he had more than $900 left over each month to pay creditors...

Is Filing Bankruptcy Embarrassing?

Posted on March 31, 2009
Do not feel embarrassed for filing bankruptcy. Bankruptcy Attorney Andy Miofsky says, “Bad things can happen to good people.” When you suffer financial misfortune, bankruptcy offers a solution. FIrst off, few will learn of the bankruptcy...

Sanctions Victory in Massachusetts

Posted on March 31, 2009
The Bankruptcy Law Network’s Jed Berliner recently scored an impressive victory in the case of In re Panek, No. 03-46692 (Bankr.D.Mass. March 5, 2009). Attorney Berliner, on behalf of his client, Panek, sued Delta Management Associates, Inc. and others for violating the automatic stay and the Fair Debt Collections Practices Act for withdrawing money [...

A Song About Bankruptcy?

Posted on March 31, 2009
No kidding. Our friends over at Bankruptcy Bill have posted their first single, “Bankruptcy Lover.” Check it out! Click here to listen to “Bankruptcy Lover.” If you liked that post, then try these...Jury Trials in Bankruptcy by Nicholas Ortiz, Boston Bankruptcy AttorneyHow to Deal With Debt Collectors: The Statute of Limitations by Brett Weiss, Maryland Bankruptcy AttorneyResolution [...

Chapter 7 Debtor May Use ?$0? Exemption on Asset Having Unknown Value; Mistaken Exemption Upheld

Posted on March 30, 2009
Grueneich v. Doeling, 2009 WL 605774 (8th Cir.BAP, Minn., March 11, 2009), held that a chapter 7 bankruptcy debtor can, in good faith, claim an exemption in an unknown amount (”0.00″), if the debtor has good reasons for doubting the value of an asset...

Are You Really Ready to File Bankruptcy? Things You Will Need.

Posted on March 30, 2009
You’ve gotten some information about bankruptcy and you think that you need to file. But are you really ready? Do you have the documentation that your attorney will need? Keeping in mind that practices vary across the country, this post will discuss some of the basic documentation you will need for your attorney so that you avoid [...

Should I File Bankruptcy?

Posted on March 30, 2009
If you cannot pay your bills you should consider bankruptcy, says bankruptcy attorney Andy Miofsky. “Bankruptcy is a straightforward and simple analysis”. When you check reality, either you can pay your bills, or you cannot. Often people try to cash in whatever assets they have in order to keep the collection wolves at bay...

Waiver Of Credit Counseling And Debtor Education Ends For Eastern District Of Louisiana

Posted on March 28, 2009
R. Michael Bolen, the U.S. Trustee for Region 5, has announced that debtors filing for bankruptcy in the Eastern District of Louisiana must begin to take Credit Counseling and Debtor Education beginning on September 16, 2009. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) required all debtors to take credit counseling before filing [...

Ron Paul?s opposition to Bankruptcy Reform is hypocrisy

Posted on March 27, 2009
In his recent article, Congressman Ron Paul of Texas concludes that forcing inefficient corporations into bankruptcy is a more reasonable solution than bailing them out. ?Bankruptcy was the stimulus that we needed in the case of AIG. More bankruptcies would clean out mal-invested resources and enable economic growth again...

Ron Paul?s opposition of Bankruptcy Reform is hypocracy

Posted on March 26, 2009
In his recent article, Congressman Ron Paul of Texas concludes that forcing inefficient corporations into bankruptcy is a more reasonable solution than bailing them out. ?Bankruptcy was the stimulus that we needed in the case of AIG. More bankruptcies would clean out malinvested resources and enable economic growth again...

Deduction for Involuntary Liens Disallowed on Means Test

Posted on March 26, 2009
Massachusetts Bankruptcy Judge Hillman recently held in the case of In re Kucera, 2009 WL 691000 (Bankr.D.Mass., Mar 12, 2009) (NO. 08-17304-WCH) that a Chapter 13 debtor could not deduct a payment for an involuntary lien on his means test. The lien in the case had arisen from a pre-petition writ of attachment issued [...

I?m In Chapter 13 and I?ve Goofed-What Now?

Posted on March 26, 2009
While you are in Chapter 13 you are prohibited from selling or otherwise disposing of property without court approval, and you’re also prohibited from borrowing money (other than in the ordinary course of business) while you are in Chapter 13. You are also required to get court approval if you settle a lawsuit or worker’s [...

New Bankruptcy Court Judge in the Northern District of New York

Posted on March 25, 2009
Diane Davis was sworn in as Bankruptcy Judge for the Northern District of New York, Utica Division on March 6, 2009. Judge Davis replaces Judge Stephen Gerling, who recently retired. Judge Davis received her B.A. in Economics and German from St. Lawrence University in 1976 and her J...

Will my bankruptcy discharge go through?

Posted on March 25, 2009
Those filing Chapter 7 bankruptcy almost always get a discharge. The law presumes the individual is entitled to a discharge. Only if a creditor or trustee challenges the entitlement to a discharge by filing an adversary proceeding is there an inquiry...

Where Do You Find Credible Bankruptcy Information?

Posted on March 25, 2009
You’re looking for bankruptcy information online and stumble across a website with what appears to be relevant information. Do you trust it? How do you know? You’ve asked yourself this a million times as you surf the net - who do you trust? Get the right information and you’re all set...

Medical bills after Chapter 7 and during Chapter 13

Posted on March 24, 2009
If you incur medical bills after you file a Chapter 7 or while you are in a Chapter 13 bankruptcy case, you are responsible and liable for paying those medical bills. However, if you incur medical bills while you are in a Chapter 13 case and then convert to Chapter 7 - those medical bills are [...

Can my creditors keep calling me after my bankruptcy?

Posted on March 24, 2009
When you file a bankruptcy case, your creditors must stop calling you. If you are careful to give creditors notice at the right place, you can make them stop bothering you. And if they don't you can make them pay dearly.

How Much Is a Trillion?

Posted on March 24, 2009
President Obama’s proposed budget calls for a deficit of over One Trillion Dollars. How much is a trillion? One Trillion Dollars can pay the rent for every renter in the US for three years… One Trillion Dollars can pay the mortgages for every homeowner in the US for 14 months… One Trillion Dollars can buy all the homes [...

Good Morning America Reports On The Economic Crises.

Posted on March 24, 2009
Good Morning America has been doing an ongoing series on how individuals and families can survive the economic crisis. They have featured speakers such as Dave Ramsey, Suze Orman, and Mellody Hobson among others. These three offer advice about how they think people can survive the upcoming economic crisis...

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