The date set for the confirmation of Chapter 13 plans varies depending on the Court and District where the case is filed. Bankruptcy Courts differ in the procedural requirements for confirmation of a case. Some courts hold confirmation hearings in every Chapter 13 case, and many of those Courts require the presence of the Debtor [...]
October 2007
Let’s say you’re in a cabal of evil banking interests, and you’re cooking up ways to put the screws to bankruptcy debtors. You hire expensive lobbyists; you pour money into the right campaign coffers; you draft some Scrooge-like legislation; you give it a wonderful name; and lo! Congress gives birth to the miscreant law known [...]
In many states, you can choose between the federal bankruptcy law exemptions and your state exemptions, whichever protects your property the best. The federal bankruptcy exemptions provide for an exemption of $20,200 for your home equity, which usually means $40,400 for a joint case. That’s not a very generous exemption. However, Minnesota allows debtors to [...]
On May 14, 2007, the United States Bankruptcy Court for the Southern District of Florida held that an escrow shortage regarding which Countrywide failed to timely and properly notify the Debtor and/or Counsel for the Debtor pursuant to the Real Estate Settlement Procedures Act (RESPA) should be deemed waived such that Countrywide may not now [...]
Perhaps the biggest profit source for today’s car dealerships is not the sale of the car itself, but various forms of insurance. These can range from GAP (Guaranteed Automobile Protection) insurance, disability insurance (often referred to as “credit insurance”) and extended warranties or service contracts.
The language of Section 541 is broad on its face. It states that the property of the debtor’s estate “is comprised of all the following property, wherever located and by whomever held.” Recently, the Bankruptcy Court for the Northern District of Georgia decided a case that reminded debtors that the concept of the estate as defined by [...]
