By Carmen Dellutri, Attorney at Law
closeAuthor: Carmen Dellutri, Attorney at Law
Name: Carmen Dellutri, Attorney at Law
Email: carmendellutri@gmail.com
Site: http://www.dellutrilawgroup.com
About: Carmen Dellutri is a proud member of the Florida Bar, and he is a Board Certified Consumer Bankruptcy Attorney, Certified by the American Board of Certification. He practices in the areas of Consumer Bankruptcy and Plaintiff's Personal Injury. He is the principal attorney at The Dellutri Law Group, P.A. The firm supports many charitable and civic causes by donating time and much needed capital to our community. Mr. Dellutri and the other attorneys in the firm routinely speak to students of all ages about various legal and societal issues.See Authors Posts (81) on Aug 24, 2008 in Bankruptcy Legislation, Bankruptcy Practice and Procedure, Benefits of Bankruptcy, Consumer Protection, Featured, Florida, General Bankruptcy Information, Personal Finance | 0 Comments
Bankruptcy is our issue on this blog. Bankruptcy is on the minds of our clients, and the Bankruptcy debate is now back in full swing with the recent announcement of Senator MBNA a/k/a Senator Joe Biden being selected as Senator Barack Obama’s Vice Presidential choice.
Even if we forget all the comments made by Senator Biden was he was running for president, like: I’m not running for Vice President, or If asked I will not accept the Vice President position, or even better, Senator Obama is not ready to lead this Country, I am a firm believer in actions speak louder than words. Senator Obama has stated on numerous occasions that he was against the Bankruptcy Bill when it was passed in 2005, yet his running mate was firmly for the Bankruptcy Bill.
Then in 2008, both Senators voted for an amendment to the Bankruptcy Code which would have allowed a modification of first mortgages on residential real estate. So, what will Joe Biden do next? And, how much influence has Senator Obama just purchased with his pick? Read the rest
By Wendell Sherk, Missouri Attorney
closeAuthor: Wendell Sherk, Missouri Attorney
Name: Wendell Sherk, Missouri Attorney
Email: wjsherk@alum.wustl.edu
Site: http://www.stlbankruptcy.com
About: I have been a bankruptcy attorney since 1989. Our firm represents consumers filing bankruptcy almost exclusively. My partner and I have each represented bankruptcy trustees as well as creditors. If you live in Eastern Missouri, visit our website, send an e-mail or give us a call (314) 781-3400. Please mention Bankruptcy Law Network.See Authors Posts (87) on Aug 27, 2008 in Chapter 13 Bankruptcy, Missouri | 0 Comments
Bankruptcy law allows the modification of a mobile home loan in Chapter 13, the Eighth Circuit Bankruptcy Appellate Panel ruled this week. The 2005 amendments to bankruptcy law did not add mobile homes to real estate mortgages which are generally protected from modification.
Chapter 13 generally allows a person to modify the repayment owed to a secured lender down to the value of the collateral. This is called a “cramdown” and the goal is to allow the consumer to retain the collateral while giving the lender the value they would be entitled to if they recovered their property and sold it. And it also increases the chances that other creditors can be repaid more. Read the rest
By Susanne Robicsek, North Carolina Bankruptcy Attorney
closeAuthor: Susanne Robicsek, North Carolina Bankruptcy Attorney
Name: Susanne Robicsek, North Carolina Bankruptcy Attorney
Email: NCBankruptcyHelp@gmail.com
Site: http://www.robicsek.com
About: Concentrating in Consumer Bankruptcy Law since 1988;
Wake Forest Law School JD 1987
Law Office of Susanne M. Robicsek since 1993,
Law Clerk to Judge Rufus Reynolds, US Bankruptcy Judge for Middle District of NC; Burns Price & Arneke, PA, David Badger and Associates, PA.See Authors Posts (98) on Aug 27, 2008 in North Carolina, Protecting Assets In Bankruptcy | 0 Comments
Listing your house for sale at the same time that you are filing for bankruptcy involves a number of issues, and the answer to the question is a case by case basis. Can you do it? Probably. Should you do it? That needs to be answered by an attorney in your area.
Your bankruptcy attorney can help you get approval for the sale if an offer comes through. In order to get bankruptcy court approval to sell the property, a motion must be filed with the court since you can’t sell it without court permission. Read the rest
By Douglas Jacobs, California Bankruptcy Attorney
closeAuthor: Douglas Jacobs, California Bankruptcy Attorney
Name: Douglas Jacobs, California Bankruptcy Attorney
Email: djacobs@jacobsanderson.com
Site: http://www.chicoattorney.com
About: Helping consumers in the following counties of California: Butte; Glenn; Tehama; Colusa; Yuba; Sutter; Plumas; Shasta; Lassen; Nevada; Placer and Sacramento. Call 530-342-6144 or visit my website to set up an initial consultation and to learn how I can help you. Mention Bankruptcy Law Network when you call."See Authors Posts (98) on Aug 25, 2008 in Bankruptcy Practice and Procedure, Foreclosure Issues | 0 Comments
There are many posts in these pages and on Mortgage Law Network about the types of foreclosures and the fact that a bankruptcy filing can stop the process. But what happens then? Just because in most states a bankruptcy stops a foreclosure (but see Gene Melchionne’s article on Connecticut foreclosures), it doesn’t end it.
The foreclosure process, in spite of the bankruptcy often continues. When a bankruptcy is filed, however, the automatic a stay that is created will stop any further proceeding. The stay lasts until one of two things happens: the bankruptcy ends by discharge or dismissal, or the creditor (mortgage company) gets the court to grant them relief from the stay to go forward.
There is a provision of the bankruptcy code (11 USC §362(d)(3)), however, that if the property is needed for an effective reorganization of the debtor in a chapter 13 bankruptcy, and the debtor is able to make normal monthly payments than the mortgage company can’t foreclose. But the filing of a chapter 13 doesn’t end the foreclosure process – it merely stops it. The mortgage company, if notice of sale has already been filed, can appear at the time and place of sale and continue it to another date to see if the bankruptcy has been dismissed by then. And, unless you were present when the change in sale dates was announced, they don’t have to tell you when or where the next sale is scheduled.
When that continued sale date comes around, if the chapter 13 is still in place, the sale can’t go forward, but the sale can be moved yet again. The mortgage company can continue to move the sale date forward waiting to see what happens in the bankruptcy. In fact, they can do this for a year in California before having to cancel the sale altogether.
I guess the good news is that after a year, the mortgage company would have to send new notices of a sale if it wanted to go forward.
By Susanne Robicsek, North Carolina Bankruptcy Attorney
closeAuthor: Susanne Robicsek, North Carolina Bankruptcy Attorney
Name: Susanne Robicsek, North Carolina Bankruptcy Attorney
Email: NCBankruptcyHelp@gmail.com
Site: http://www.robicsek.com
About: Concentrating in Consumer Bankruptcy Law since 1988;
Wake Forest Law School JD 1987
Law Office of Susanne M. Robicsek since 1993,
Law Clerk to Judge Rufus Reynolds, US Bankruptcy Judge for Middle District of NC; Burns Price & Arneke, PA, David Badger and Associates, PA.See Authors Posts (98) on Aug 25, 2008 in North Carolina, Student Loans | 0 Comments
Student Loans are generally not dischargeable in bankruptcy, and there is no statue of limitations on their collection. This makes it very difficult to get away from a student loan, and now it appears that the bar has been raised and it is even harder to receive a hardship discharge from a student loan in the 4th Circuit bankruptcy courts.
Read the rest
By Kevin Gipson, New Orleans Bankruptcy Attorney
closeAuthor: Kevin Gipson, New Orleans Bankruptcy Attorney
Name: Kevin Gipson, New Orleans Bankruptcy Attorney
Email: gipsonk@gmail.com
Site: http://www.kevingipson.com
About: Kevin Gipson is a consumer bankruptcy law attorney practicing in the Greater New Orleans area. He has been representing consumer debtors for over 22 years.
He is licensed to practice in all state and federal courts in the State of Louisiana.
Kevin is a sole practitioner so you know that your debt matters are being handled by him personally.
He is a member of the Louisiana Bar Association, National Association of Consumer Bankruptcy Attorneys, the Bankruptcy Law Network, Credit Law Network, Debt Law Network, and Mortgage Law Network.See Authors Posts (75) on Aug 23, 2008 in Decisions of Interest, Featured, General Bankruptcy Information, Lawyer to Lawyer | 0 Comments
A topic that has been written about on this site on several occasions is the risk a client runs by failing to disclose all of his assets to his attorney when filing a bankruptcy. In articles by Jill Michaux, Chip Parker and Susan Robicsek these risks are discussed, However the risk of being denied a discharge in bankruptcy cannot be overstated.
If a debtor fails to disclose an asset and a Court determines that the failure to disclose the asset had a material impact on the bankruptcy, the Court can deny the debtor his discharge.
I share the concern of my colleagues about these disclosure issues. So when a potential client asks me: “Do I have to disclose my stash to the bankruptcy court?” my answer is: “Yes, you have to disclose your stash!”
In the case of Fokkena, Trustee, v. George & Rose Tripp, 224 B.R. 95 (USBC, N.D. Iowa, August 3, 1998) the debtors were arrested and charged with the manufacture and possession of marijuana a few weeks after filing their Chapter 7 bankruptcy. The debtors did not disclose the fact that they owned marijuana on their bankruptcy schedules. Read the rest
By Rachel Lynn Foley - Kansas City, MO Bankruptcy
closeAuthor: Rachel Lynn Foley - Kansas City, MO Bankruptcy
Name: Rachel Lynn Foley, Kansas City, MO Bankruptcy
Email: mokanclient@gmail.com
Site: http://www.kcbankruptcy.com
About: Former Bankruptcy Attorney to the Kansas City UAW: Ford and GM workers, now assisting the general public in Missouri and Kansas with regaining financial control using the Bankruptcy Code. 816-472-HELP (4357).See Authors Posts (65) on Aug 23, 2008 in Benefits of Bankruptcy | 0 Comments
Toby Mac’s Lose My Soul was the inspiration for my article of Don’t let your debt own you! that I wrote earlier today. The article is about gaining your quality of life back and breaking the debt ties that bind and control the very essence of your being. Read the rest
By Däna Wilkinson, Attorney at Law
closeAuthor: Däna Wilkinson, Attorney at Law
Name: Däna Wilkinson, Attorney at Law
Email: danawilkinson@danawilkinsonlaw.com
Site: http://www.danawilkinsonlaw.com
About: My name is Däna (pronounced “Donna”) Wilkinson, and I’ve been a bankruptcy lawyer for 20 years. I went to law school at the University of South Carolina, worked for two bankruptcy judges, and practiced for a number of years with bankruptcy boutique firms. In fact, I’ve never practiced any other kind of law.
I’m certified as a bankruptcy specialist by the South Carolina Supreme Court, which means that I’ve taken and passed a proficiency examination on bankruptcy law, devoted my practice primarily to bankruptcy for a number of years, and have continued to take classes on bankruptcy law and related issues.
In 1998 I opened my own practice, focused on representing ordinary people who find themselves overwhelmed by debt. I enjoy the work, and I like the freedom of being my own boss. One benefit is that I can focus on the needs of my clients, and craft an approach that is based on what is important to them. I don’t have a “one size fits all” mentality about what is best for my clients. My goal is to advise my clients of the options they have to deal with their financial difficulties, and whenever possible help them make a fresh start.See Authors Posts (90) on Aug 23, 2008 in Bankruptcy Practice and Procedure, General Bankruptcy Information | 0 Comments
The hobby horse I was all set to ride today has to do with the pay stubs that I have to collect from my clients prior to filing any bankruptcy case. I’ll get to that later. I got sidetracked when I did a search to see if any of my colleagues had recently written on the same topic–we don’t want to bore you with the same harangue every time you log on. What came up instead was one of my own posts, Top Ten Wastes of Time After BAPCPA, written some time ago. So I read it again, to see if anything had changed, hopefully for the better. Alas, no, I’m still wasting my time on those same things, including this one, which was number five on my hit parade: Read the rest
By Craig Andresen, Attorney at Law
closeAuthor: Craig Andresen, Attorney at Law
Name: Craig Andresen, Attorney at Law
Email: craig@cwalaw.com
Site: http://www.cwalaw.com
About: Helping consumers in every county in Minnesota since 1987. Call (952) 831-1995, or visit my website, to set up an initial consultation and learn how I can help you. Mention Bankruptcy Law Network when you call.See Authors Posts (73) on Aug 22, 2008 in Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Foreclosure Issues, General Bankruptcy Information, Mortgages | 0 Comments
Although most persons filing bankruptcy will opt to use chapter 13 to stop a mortgage foreclosure, it’s important to remember that filing bankruptcy under any chapter, including chapter 7, stops a foreclosure just as effectively. Chapter 7 not only stops a mortgage foreclosure, but it usually results in the discharge of almost all unsecured debts, without the necessity of committing to a years-long chapter 13 debt repayment plan. This makes chapter 7 an attractive option for those facing foreclosure, but lacking the income needed to propose a feasible chapter 13 plan.
While the filing of a chapter 7 bankruptcy case stops a mortgage foreclosure, it does not provide a long-term solution to the problem of how to catch up on past due home mortgage payments. Even though chapter 7 stops the foreclosure, the effect is only temporary. In most federal court districts the delay of foreclosure proceedings obtained through chapter 7 consists of only about two to six months. To avoid the foreclosure process being started all over again after filing chapter 7, the past due mortgage payments must be caught up soon after filing the case in bankruptcy court. Read the rest
By Susanne Robicsek, North Carolina Bankruptcy Attorney
closeAuthor: Susanne Robicsek, North Carolina Bankruptcy Attorney
Name: Susanne Robicsek, North Carolina Bankruptcy Attorney
Email: NCBankruptcyHelp@gmail.com
Site: http://www.robicsek.com
About: Concentrating in Consumer Bankruptcy Law since 1988;
Wake Forest Law School JD 1987
Law Office of Susanne M. Robicsek since 1993,
Law Clerk to Judge Rufus Reynolds, US Bankruptcy Judge for Middle District of NC; Burns Price & Arneke, PA, David Badger and Associates, PA.See Authors Posts (98) on Aug 20, 2008 in Discharge, What Can and Cannot Be Forgiven, General Bankruptcy Information, North Carolina | 0 Comments
A Chapter 7 Discharge and a Chapter 7 Final Decree don’t necessarily come at the same time, although they often do if a case is a no asset Chapter 7 case. When a Chapter 7 bankruptcy case is filed, the debtor is asking to be released from the legal obligation to pay his/her debts - in legal terms to receive a discharge. The debtor’s discharge and the final decree that closes the case are independent actions by the court that don’t always occur at the same time.
All the property of the debtor, except what the debtor can exempt (protect from creditors), becomes property of the bankruptcy estate, and is controlled by the Chapter 7 bankruptcy Trustee. If all of the debtor’s property is exempt, a final decree may be issued simultaneously with the discharge. However their case may remain open for a long time while creditors receive a distribution of money if there was non-exempt property.
The discharge is usually entered just a few months after filing, and the debtor is able to move forward with his life. The bankruptcy estate will remain open as long as it takes for the Trustee to liquidate the non-exempt property, distribute the funds to creditors, and file a final report. When all the assets are dealt with, the Final Decree is issued and the case closed.
See also:
Word Of The Week: Discharge August 10, 2008 by Eugene Mechionne CT Bankruptcy Lawyer
What Property Can I Keep If I File Bankruptcy? March 11, 2007 by Susanne Robicsek, Charlotte NC Bankruptcy Lawyer
What Property Is Exempt (Protected) In North Carolina? March 12, 2007 by Susanne Robicsek, Charlotte NC Bankruptcy Lawyer
What Debts Survive My Bankruptcy? June 10, 2008 by Karen Oakes, Oregon Bankruptcy Lawyer
Bankruptcy Discharge And Debts Incurred By Fraud April 19, 2008 by Cathy Moran, CA Bay Area Bankruptcy Lawyer