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Archive for May 1st, 2008

Five Year Plan a Must For Small Business in 9th Circuit »

By Kent Anderson, Oregon Bankruptcy Attorney on May 1, 2008 in Bankruptcy Cases of Interest, Bankruptcy Legislation, Bankruptcy Practice and Procedure, Chapter 13 Bankruptcy, Decisions of Interest, General Bankruptcy Information, Small Business And Self-Employment | 0 Comments

The 9th Circuit Bankruptcy Appellate Panel recently held that a Chapter 13 debtor engaged in business can not deduct necessary business expenses from gross receipts in determining current monthly income.  In re Wiegand, decided April 3, 2008, all but guarantees that small business chapter 13 debtors will be required to spend five years in a [...]

Some Student Loan Justice in St. Louis »

By Wendell Sherk, Missouri Attorney on May 1, 2008 in Discharge, What Can and Cannot Be Forgiven, Missouri, Student Loans | 1 Comment

Wiping out student loans in bankruptcy is rare because the law requires a heavy burden:  Proof that repayment creates an “undue hardship” on the consumer.  How rare?  When a contested hardship discharge was granted in St. Louis late last year, most practitioners could not remember the last time it had happened.
To put this in perspective, [...]