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The Bankruptcy Hearing
If you file for consumer bankruptcy, chapter 7 or chapter 13, you will be required to attend what is called a “Meeting of Creditors.” It offers the case trustee and creditors an opportunity to ask questions of debtors on the record.
What to Expect in a Bankruptcy Consultation
When someone is considering bankruptcy, any attorney worth their salt will want to conduct an interview with them to determine their specific circumstances and to explain the bankruptcy process. This is called a bankruptcy consultation. In our region, these consultations are usually free.
An Obvious and Offensive Double-Standard
James Surowiecki published an article in the December 19 & 26, 2011, issue of The New Yorker magazine in which he argued that there is a double standard when it comes to bankruptcy (See Living By Default by James Surowiecki). Business bankruptcy is part of doing business, and the smart thing to do. Yet average Americans are considered moral failures for doing the same thing.
Friends Don’t let Friends Advise One Another about Bankruptcy…
When dealing with personal debt, asking for the advice of friends is very likely not your best option in determining what is best for your financial situation.
Forbearance?
By Etta Foote, All Western Mortgage We hope that as you read this, you are all healthy and safe. It is certainly an unprecedented time in our history, but we are encouraged by the way family and friends have stepped…
Purchasing a Home After Bankruptcy
By Robin Goralka Looking to purchase a home after bankruptcy can be a daunting prospect. Many people think that declaring bankruptcy will have a negative effect on their credit report for years to come, making it difficult to qualify for…
Bankruptcy Relief for Student Loans?
A bipartisan group of lawmakers on Thursday introduced legislation to make bankruptcy relief available for student loan borrowers. Sens. Elizabeth Warren (D-Mass.) and Dick Durbin (D-Ill.), along with Reps. Jerrold Nadler (D-N.Y.), John Katko (R-N.Y.) and Joe Neguse (D-Colo.) introduced…
“Green” Light Given to Marijuana Businesses in Bankruptcy Court?
In a 2011 opinion, Judge Alley ruled that a debtor who filed a Chapter 13 Bankruptcy Plan to be funded from profits derived from the cultivation and sale of medical marijuana could not be confirmed as such business activities were…
Bankrupt Student Loan Borrowers Could Finally Get A Break
A report issued today by the Commission on Consumer Bankruptcy of the American Bankruptcy Institute recommends substantial changes to how student loans are treated in bankruptcy. Under current law (11 U.S.C. §523(a)(8)), a court must find that an “undue hardship”…