Judge Feeney, Massachusetts Bankruptcy Judge, days ago issued an important decision on an issue of whether a Chapter 13 debtor would be allowed a means test deduction for a payment of a secured debt when the payment was not being paid due to lien avoidance. See In re Marshall, 2009 WL 1652471 (Bkrtcy.D.Mass. 2009). There [...]
June 2009
Turning in a car to get out from under high car payments may backfire. Many people think that a “voluntary” repossession won’t come back to haunt them, but any surrender or repossession of a car that does not pay off the loan in full can lead to big debt problems for the borrower. When you [...]
The concept of interest on a loan pre dates the Birth of Christ to the time period of the Sumerians. The Sumerians expected loans to give birth to a higher return. Sumerians often lent cattle instead of money. This is where the concept of “giving birth” came from. They expected that the lent herd would [...]
Hat tip to my New York colleague, David B. Shaev, for the excellent coverage and honest statements. Finally, the news media gets their information about bankruptcy right!
Some companies are sending letters to bankruptcy debtors for the 2nd bankruptcy course that must be taken in bankruptcy. These letters can be misleading and many debtors believe, after reading the letter, that they must take the course from that particular company. Companies get a list of bankruptcy filings and the addresses of all people [...]
If a creditor sends a letter to you after your discharge, they may be violating the Bankruptcy Code – even if they include language saying it’s just for informational purposes. The recent case of In re BIRAKOYE NASSOKO, Case No. 07-11966 (ALG) (SDNY 2009) involved a car lender that sent a consumer a payment demand [...]
