Bankruptcy

Emergency Bankruptcy Filings
Sometimes a person needs to file bankruptcy right away to stop a foreclosure, repossession, eviction, execution sale, tax levy, or utility shut-off. The Bankruptcy Rules allow the debtor to initiate a bankruptcy case by filing only the three page petition...

The Facts About North Carolina Foreclosure Law
Processes Detailed In North Carolina Foreclosure LawUnder North Carolina foreclosure law, a loaner can originate a foreclosure when the borrower defaults on a mortgage or feat of trust...

Debtor's liability on trade secrets claim and fixing minimum amount of that iability, was neither "contingent" nor "unliquidated"
Background: Motion was filed to dismiss debtor's Chapter 12 case, on ground that at least 50% of debtor's noncontingent, liquidated debt did not arise out of farming operation, as required for debtor to qualify as "family farmer" eligible for Chapter 12 relief...

Dallas Judge Investigates Mortgage Rescue Scam; Urges Debtor's Bar to Warn Clients
Dallas Judge Stacey Jernigan recently issued an opinion concerning a mortgage protection scheme which the court found to prey upon both desperate debtors and mortgage lenders seeking to protect their legal rights...

Another Tax Trap From Short Sale or Deed in Lieu
I saw an email about income tax liability associated with foreclosure or bankruptcy sent by attorney Larry Heinkel. The email addresses income tax liability from the foreclosure of properties which have previously been depreciated for tax purposes...

When Do I Need To Leave My House When Filing For Bankruptcy And Foreclosure Part 1 of 2
In most cases, a Bankruptcy will usually delay any foreclosure process. This is because when a bankruptcy case is filed, a restraining order is entered under 11 USC 362 called the Automatic Stay, which prevents any further debt collection efforts against debtors or their property...