When filing bankruptcy, a client’s first question often involves whether or not they can keep things they own, like their home, their car, or their 401(k). These questions are important, and the answer to the question is two-fold: 1. Is there a lien against the property? 2. If no lien exists, what Bankruptcy Exemptions are [...]
Bankruptcy Law Network
Recently I posted a Blog on the unfavorable In re Martinez decision recently handed down by the Ninth Circuit BAP on October 5, 2009. Well, the Ninth Circuit BAP did it again that same day in another case with a slightly different twist in the Smith matter.
On October 5th, 2009, the Ninth Circuit Bankruptcy Appellate Panel (BAP) published its decision in In re Martinez, wherein it concluded that debtors who strip junior liens off mortgages are not entitled to deduct those payments from the chapter 13 projected disposable income test. While the decision was ordered published, the 3 judge panel disagreed with each [...]
One day this week, I got so angry at my potential clients. I did not express this anger out loud, but I did want to reach across my desk and say YOU SHOULD HAVE COME HERE WEEKS OR MONTHS AGO. Three new clients, and all three of them, would have had much better options had [...]
Chapter 13 Plans must be proposed to last a minimum of 36 months, and a maximum of 60 months. Three to five years is a long time! And a lot can change during that time. As plans are proposed and confirmed by the court based upon your set of circumstances at that time, it is [...]
If a creditor files a proof of claim in a Bankruptcy Proceeding, it is deemed allowed unless you or another interested party objects. So what does “allowed” mean and what are its ramifications?
