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Archive for January, 2008

Why Do I Still Get Billed For My House I Surrendered In Bankruptcy? »

Lately, most people are surrendering their real estate in Chapter 7 Bankruptcy Proceedings.  This is because there is usually little if any equity left in the property.  In fact, in many cases, surrendering the property is recommended in light of future interest rate adjustments which will increase monthly payments, negative equity, and the fact that [...]

Region 20 U.S. Trustee Named »

The Executive Director of the Executive Office of the U.S. Trustee announced that Richard A. Wieland has been installed as U.S. Trustee for Region 20 in Kansas, Oklahoma and New Mexico.
Wieland has been acting U.S. Trustee since September 1, 2007. He has 20 years experience as a trial lawyer in the U.S. Trustee’s office [...]

Can I Change Lawyers In A Bankruptcy Case? »

It happens: you’ve hired an attorney to file for bankruptcy for you and somewhere along the line, either before or after the filing, he or she seems to be dropping the ball.  Can you change attorneys?  Absolutely!
But that’s not the end of the story.  To change, find a new attorney willing to take over.  Make [...]

Recession vs. Depression. »

What is a recession? There is so much going on with the economy today and words such as recession and depression are used with high frequency. A recession is defined as a period of 2 or more successive quarters where there is a decline in our gross domestic product or GDP. [...]

Bankruptcy Means Test Income Allowances Change February 1 »

The figures used for your state’s median family income on the bankruptcy means test will change again for cases filed on or after February 1, 2008. A chart by state and family size is available on the U.S. Trustee website.
The numbers come from the U.S. Census Bureau and have been adjusted six times since [...]

Means Test: Don’t Give Up, Even If You Think You’ve Flunked It, Part 9 »

If your lawyer tells you that the means test, or Form B22, is creating a problem in your bankruptcy case, make sure you have included every possible expense the law allows. Many expenses allowed by Form B22 are for items which are unique to some people, and your lawyer may not know about them. [...]

Minnesota Bankruptcy Law: Self Employed Debtors Can Claim an Exemption for “Wages” »

In Minnesota, a person filing for bankruptcy and choosing to use the Minnesota exemptions has traditionally been allowed to keep 75 percent of wages owed to him or her on the day the bankruptcy was filed, pursuant to Minnesota Statutes Section 550.37 subd. 13. It has been widely believed that this exemption applied only [...]

What is Tele-Check? »

Like Chex Systems which warns its members about potential losses when consumers open a banking account, Tele-Check attempts to protect merchants from bad checks from consumers. Tele-Check tries to predict when a consumer might present a bad check for payment. It does not have access to your banking account, nor does it maintain [...]

Can I Contribute to or Repay a Loan to 401k in Chapter 13 Bankruptcy? »

January 18, 2008, Jacksonville, Florida – A recent case out of the Jacksonville Division of the Middle District of Florida has held that neither 401k contributions nor 401k loan repayments are included in a Chapter 13 debtor’s disposable income, without regard to whether the debtor is above or below median income.
Despite a whole line [...]

Have a Bad Check History and Need a Checking Account? »

Previously this site has taken a look at Chex Systems and the records that it maintains on consumers and their use of checking accounts at banking institutions. But did you know that Chex Systems is a sponsor for an education program designed to get you back on track with your banking? [...]