“Standing,” in the context of bankruptcy and state law, means the right to be a party to a litigated matter.  A company claiming to own the right to file a claim in bankruptcy court or a lawsuit to foreclose in state court must be the “owner of the underlying promissory note and mortgage.”
Not only must [...]

The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act has now been in effect for three years.  Is it any clearer than before?
Let’s examine a few of the hotly litigated problem area topics and how those topics have “played out” admidst the various circuits around the country.

Did you finish a chapter 7 bankruptcy and believe that you had made a fresh start.   Confidently walk into a car lot about six months after your bankruptcy to apply for a car loan and be stunned when the finance manager turned you down due to open accounts remaining on your credit report after your [...]

In a recent blog, I wrote about ways to save money–the ideas featured in an article by Jean Chatzy in the June 2008 Reader’s Digest.   I agreed with the author’s analysis that sometimes small quick changes create a big result.   Her article also mentions the ways slightly more difficult changes can have big results in a hurry.   [...]

The current bankruptcy law is based on the Bankruptcy Code enacted by Congress in 1978.  It is found in Title 11 of the U.S. Code, and is supplemented by the Federal Rules of Bankruptcy Procedure.  In addition, each District has its own local rules which determine the procedures used in the bankruptcy courts in that [...]

On the Bankruptcy Law Network I posted the views of the presidential hopefuls regarding bankruptcy.  Now here is some information regarding McCain and Obama and their views on how they anticipate handling tax matters.  Take the time to do the research because our Country is currently 10 trillion dollars in debt so the tax policy of either [...]

Effective October 1, 2008 the amount that a person can earn before they might have to file a Chapter 13 bankruptcy was changed.  Known as Median Family Income or “The Means Test”, this dollar amount is the first step in determining whether or not a Chapter 13 bankruptcy may be necessary.
Beginning October 1, 2008 the amounts [...]

On October 27, 2008, Coop v. Frederickson, No. 07-3391, was decided by the Eighth Circuit Court of Appeals, adding its voice to the national confusion over the required length of chapter 13 payment plans.  The court of appeals ruled that for a chapter 13 debtor whose income was above the median, but whose Form B-22C disposable [...]

With the new school year, your kids may have brought home a flyer about a C.A.R.E. program being scheduled.   C.A.R.E. stands for Credit Abuse Resistance Education and is a program created by Chief Judge John Ninfo (U.S. Bankruptcy Court – Western District of New York).  The C.A.R.E. program is aimed at high school seniors and college students.  The program teaches [...]

There are a host of books on the subject of how to save for retirement, buy homes, payoff debt quickly:  Suze Orman, Thomas Stanley and William Danko  (authors of The Millionaire Next Door), Robert Kiyosaki and Sharon Lechter (authors of Rich Dad/Poor Dad)  All of these authors advocate lifestyle changes which could be dramatic in order [...]