Your mortgage company will probably ask you to reaffirm your mortgage after you file Chapter 7 bankruptcy. These days in our country, many homes with mortgages are underwater, worth less than what is owed on them. If you file Chapter 7 bankruptcy, your home is worth $200,000, and you owe $240,000 on it. You can [...]
June 2010
The Topeka-Capitol Journal Online reported today one Debtor’s bankruptcy fraud criminal conviction yesterday in the U.S. District Court in Topeka, Kansas. His wife’s trial is reported as scheduled for August 2d. According to the article, James Moser: Concealed information about their option to purchase 16.5 acres of prime real estate at the location where they [...]
At the same time the bankruptcy community is pondering the Lanning decision on what “projected disposable income” is in a Chapter 13, I read Judge Eugene Wedoff’s thoughts on whether Chapter 13 plans ought to require the payment of all of that disposable income during the bankruptcy to the trustee. * His point was that [...]
The lead article in the Economy section of the June 18, 2010 New York Times offers revealing insight into the practices of “debt settlement” companies. Debt settlement companies position themselves as alternatives to bankruptcy, suggesting that they have insight into “secrets that the credit card companies don’t want you to know.” In fact, the business [...]
Bankruptcy fraud is an important issue. And there’s no shortage of posts here at Bankruptcy Law Network warning of the evils of cheatin’ the bankruptcy system. Craig Andresen, Bloomington, Minnesota bankruptcy attorney and BLN member, recently published an intriguing post entitled, “No, A Bankruptcy Lawyer Should Not Withdraw from the Case if the Client Won’t [...]
A Georgia bankruptcy court has ruled that a chapter 7 debtor could not discharge $35,625.00 in fees owed to her divorce attorneys. In re Bucchiarelli, 2010 WL 2033146 (Bky.N.D.Ga. Feb. 22, 2010), held that the debtor had planned on filing bankruptcy before hiring her divorce attorneys, and that she never intended to pay them for their services. [...]
