On February 4, 2011, I was honored to have been asked to testify on behalf of the National Association of Consumer Bankruptcy Attorneys (NACBA) before the Advisory Committee on Bankruptcy Rules. The Committee proposes changes to the Federal Rules of Bankruptcy Procedure, and submits them to the U.S. Supreme Court for adoption. Once adopted, they [...]
February 2011
In a chapter 13 case, you are required to make monthly payments to a chapter 13 trustee who will take your money and distribute it to your creditors according to a plan approved by the bankruptcy court. Typically, people would choose to file a chapter 13 in order to save a house from foreclosure; try to [...]
On Groundhog Day, it is fitting to consider whether you are living in a financial ‘Groundhog Day.’ Remember the Bill Murray movie? A self-absorbed weatherman is doomed to repeat the same day over and over, until self- awareness is achieved. David Pitt of Today points out the financial corollary: Is there a shadow cast over [...]
A common question I get this time of year is whether the trustee will take the debtor’s tax refund if he files for bankruptcy. The answer depends upon many factors. The Trustee has a duty to administer non exempt assets if those assets are worthy of administration. For a tax refund to be worthy of administration the [...]
