Bankruptcy is a tough pill to swallow for anyone. The word bankruptcy means “failure” to people more often than it means “fresh start.” That’s good marketing by the credit industry, but it isn’t the truth. If you’re in trouble, you need to know when and how it started. It was much further in the past [...]
June 2010
image credit: dreamstime Countrywide, number one offender, writer of the most sub-prime mortgages (the list goes on) admits bilking homeowners, in foreclosure, and even including those who had successfully completed Chapter 13 cases, usually filed to avoid foreclosure, out of tens of millions of dollars. The Department of Justice, through the United States Trustee’s [...]
Here at Bankruptcy Law Network we do what we can to pass along good information and, ultimately, leave you a little more “in the know” than you were before you got here. We know you’re just as likely to be a bankruptcy lawyer as a consumer in search of solid information, so sometimes we get [...]
We all want to save money. Especially when you have filed for bankruptcy protection under chapter 13 and saving money is at a premium. One tip to save a lot of money is to ensure that you continue to make your secured debt payments if those payments are made directly to the secured creditor or, [...]
One of the fundamental requirements to confirm a plan in a Chapter 13 bankruptcy is that (unless creditors are paid in full) the Debtor must pay for the benefit of unsecured creditors his or her “projected disposable income” to be received in an “applicable commitment period” (36 or 60 months). Since the enactment of 2005 [...]
A recent Michigan bankruptcy court decision allowed the discharge of a chapter 7 debtor’s credit card debt, even though the credit card was used while the debtor was laid off from his job at a saw mill, just before the bankruptcy was filed. In an usual move, the court also invited the debtor to submit [...]
