Wisconsin, not to mention quite a few of the states in the West and Southwest, recognizes “community property” between husband and wife. Usually we think about “community property” in connection with a divorce and matrimonial proceedings. However, community property also brings us to a concept recognized in bankruptcy as community claims. This idea has a [...]
December 2009
Because of the fact that a Chapter 13 bankruptcy will normally take 36 months to 60 months to complete, it is a common occurrence that a debtor’s car will need to be replaced during the life of the Chapter 13 Plan. Generally speaking (and assuming you qualify for a car loan) the Court will approve [...]
Chapter 7 bankruptcy is a fairly quick process that generally lasts about four months after you file your case. Your case will be filed electronically. A few minutes after the case is filed, you will be given a hearing date. This hearing is called a 341 hearing (after section 341 of the Bankruptcy Code) or [...]
People considering bankruptcy must tell their lawyer every claim that anyone has against them. A claim is basically a right to payment. Somebody who holds a claim is a “creditor”. Claims can come in many varieties. Claims may be: reduced to judgment or not A judgment is a court order to pay money immediately to the [...]
The United States Supreme Court just heard the Espinoza case. You may have heard about it in the news. The debtor filed a chapter 13 case. In his plan, he called for his student loan to be paid in full, without interest. And the debtor did just that. He paid 100% of the loan off [...]
Joe Congress is such a flirt. As has been reported earlier this week on BLN, the House of Representatives is beating a dead horse – modification of mortgages in bankruptcy. This is the same piece of legislation that got nowhere in the Senate earlier this year. Will Congress please stop teasing the Middle Class with [...]
