Modification of home loans in bankruptcy was promised by candidate Obama before his election as President. Current bankruptcy law prohibits modification of a loan secured against the debtor’s principal residence. The idea was simple, if bankruptcy judges were allowed to adjust the balance due and payment terms of home loans in Chapter 13 cases, many [...]
October 2010
Bankruptcy lawyers across the country have assumed for years that “stripping” completely unsecured second mortgages on homestead real estate was accepted as fact, at least in chapter 13 cases. A minority of courts have even allowed this to be done recently in chapter 7 cases. Imagine the surprise, then, when a Minnesota bankruptcy court ruled in [...]
Bankruptcy attorneys across the country are taking note that we just passed the five year anniversary of the 2005 law changes, known to some as the New Bankruptcy Law, and to others as BAPCPA which stands for Bankruptcy Abuse Prevention and Consumer Protection Act. Five years of living with an unfair attempt to keep consumers [...]
Judges are put in a position to shape their communities for decades, and Florida’s Circuit Civil Judges are no different. They decide extremely critical issues facing Floridians ranging from real estate development to the death penalty. They create new families through adoption and end broken families through divorce. At some point in a judge’s career, [...]
Good planning for bankruptcy can save you money. Bad bankruptcy planning is fraud. Check out this post and this one too. Good bankruptcy planning can prepare you for your future. Bad bankruptcy planning can send you to jail. And no bankruptcy planning is almost as bad as bad bankruptcy planning. What is bankruptcy planning? [...]
“I’m broke.” One day you realize it – I have no money. Now what? This article and successive parts will cover the basic options that apply to just about everybody. The first step is to consider what happened to make you realize that there was a problem. What was the triggering event or wake up call? [...]
