To get your Chapter 13 bankruptcy confirmed (approved) you’ll need to show that you’ve proposed a “feasible” plan. If you haven’t, your plan can’t be confirmed, and your case must be dismissed. Chapter 13, unlike Chapter 7 (straight bankruptcy), is all about your plan. You submit a plan, and the plan must do certain things. [...]
April 2010
When a client is considering filing for Chapter 13 bankruptcy, one of the first questions I’m asked is, “What will my Chapter 13 Plan payment be”? I almost always answer, “I don’t know yet.” Why? Because of the complex way plan payments are determined. There is a four-part test. Unfortunately, after running all of the [...]
When filing bankruptcy, one of your most important assets (a fancy word for property) is your real estate. All interests you have in real estate must be listed on Schedule A of the bankruptcy paperwork. You think this is easy? Usually it is. But here are some pointers. Be sure you know what interest in [...]
Filing for bankruptcy requires full disclosure of all your property and financial affairs. Never hide property or assets when filing for bankruptcy. Everyone leaves a trail. Even you. If you think you can hide, you’re making a mistake. For example, if you have property you mentioned in a prior document, you will be found out. [...]
Even in bankruptcy, the fifth amendment gives you the right to remain silent. Even in bankruptcy, if you are accused of a crime or fear that you might be, you need to think about the fifth amendment. The United States Constitution protects people against being required to incriminate themselves. However the Bankruptcy Code requires debtors to [...]
The sale of debt discharged in bankruptcy to a collector violates the bankruptcy discharge. The decision in Laboy v. FirstBank Puerto Rico, 2010 Bankr. Lexis 345 (D. Puerto Rico 2/2/2010) held the seller liable for attempts by its unrelated buyer some 15 years after the bankruptcy to collect a discharged account. What happened to Mr. Laboy [...]
