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Archive for December, 2008

What If My Favorite Retailer Files Chapter 11? »

With holiday sales down for most retailers, the media is full of reports of possible Chapter 11 filings, or even liquidations.  So what happens with those Chapter 11 reorganizations, and why not just liquidate?
There are many possible benefits for any business, whether a big box, or a mom-and-pop store. Debt, including payments to be made [...]

Please Don’t Ask for Legal Advice Via Email »

A few days ago, I posted on this blog an article entitled “Should I Prepare and File my Chapter 7 Without an Attorney?“  In this post, I responded to an email inquiry from a reader of my Atlanta bankruptcy blog who wanted information about filing pro se.
As you might imagine, I get a lot of [...]

New Year's Resolutions For People In Debt »

The following are some resolutions for those of us in debt. Each one is linked to an article found on the pages of www.debtlawnetwork.com, www.creditlawnetwork.com, www.mortgagelawnetwork.com, or www.bankruptcylawnetwork.com.
1. Don’t gamble http://www.debtlawnetwork.com/gambling-doesnt-solve-debt-problems/
2. Don’t sign up with a “Debt Settlement” company http://www.debtlawnetwork.com/handling-debt-collectors-be-careful-when-choosing-a-debt-
3. Don’t shop on QVC http://www.debtlawnetwork.com/qvc-equals-debt-not-friendship/
4. Manage your time well, especially if you are jobless [...]

When Should I Seek The Advice Of A Good Bankruptcy Attorney? »

Seeing a good bankruptcy attorney is not the same as filing bankruptcy.  Getting the advice and counsel of a knowledgeable bankruptcy lawyer is getting yourself a fresh and experienced set of eyes to review with you the specifics of your unique situation.  Most good bankruptcy lawyers would rather tell you why bankruptcy is not for [...]

Shocking News: Credit Cards Cause Debt »

Sometimes, science seems to exist to prove the perfectly obvious.  For example, this year science delivered the amazing new discovery that people spend more with credit cards than they do with cash.  Well, stop the presses!
Actually though, it’s important to keep in mind.  As LiveScience reported this year, we have trouble thinking of more abstract [...]

Married in Bankruptcy: Do Joint Cases Have To Stay Joint? »

Married couples can file a “joint” bankruptcy under any chapter of the law in which an individual can also file.  But what if the marriage doesn’t work out?  Do they have to stay in their case together?
Virtually every court concludes they don’t.  In such cases the court would allow the two parties to the case [...]

6th Circuit on Chapter 13 Discharge »

The 6th Circuit Court of Appeals has reversed bankruptcy Judge Rhodes ruling on getting a Chapter 13 discharge.
There is no discharge for a Chapter 13 case filed within 4 years of a prior Chapter 7 case, per 11 USC 1328(f).
The bankruptcy court had held the 4 years ran from the date of the discharge, not [...]

Does Bankruptcy Wipe Out Drunk Driving Debts? »

Maybe.  It all depends upon the nature of the debt, and whether the creditor/victim files an action in the bankruptcy court prior to the claims bar date.  There are essentially two separate bankruptcy statutes that concern non-dischargeability of drunk driving debts.

Eastern District Of Louisiana Streamlines Procedure For Ex Parte Motions »

 In an effort to streamline the procedure necessary to file certain motions as ex parte motions in the
Bankruptcy Court for the Eastern District of Louisiana, the Court recently entered Standing Order 2008-2.
Standing Order 2008-2 amends Local Bankruptcy Rule 9013-1(D) which previously required the moving
party to obtain the permission of all interested parties before filing an ex [...]

Debt Does Not Die When You Do, Part Two »

 
Surprise, you’re dead.  Distinct from ‘zombie debt’ which should be dead, but refuses to die, your debt does not automatically die when you do.  Your family or heirs could be forced to pay the bills that you didn’t (or couldn’t) pay before you moved on to another plane of existence.  You might want to read Part One [...]