Few concepts are as difficult to grasp for a potential bankruptcy debtor than the “means test,” which Congress added to the bankruptcy law in 2005. To be sure, the means test can be confusing, and it has been roundly criticized both by lawyers and by judges in bankruptcy court decisions. While this brief article will [...]
December 2010
Filing bankruptcy cases means–very soon after the case has been filed–dealing with bankruptcy trustees. I’ve practiced bankruptcy law for fifteen years now, and one thing I’ve learned about bankruptcy trustees is that they are all different. No two ask for exactly the same documents. And no two want things done exactly the same way. They [...]
The Fair Credit Reporting Act requires credit reports to be accurate. What is accurate reporting during a bankruptcy case? In general, creditors have no duty to report anything at all to credit reporting agencies. Consequently, many will simply stop reporting any debt information once informed of a bankruptcy case. However, sometimes a credit report will [...]
What happens to a co-debtor when a debtor files for bankruptcy depends upon the type of case that is filed. Many clients come to my office relieved to find out that a bankruptcy stays proceedings against them, but they worry about whether there is a stay of proceedings for the co-debtor. The client is justified in worrying about the [...]
