Of no surprise to this Jacksonville Bankruptcy Lawyer, The Wall Street Journal reports a record 14% of American households with mortgages were behind on payments or in foreclosure in the third quarter, according to the Mortgage Bankers Association. The new figures, according to The New York Times, “. . . underlined the level of stress [...]

In Chapter 13, if you want to retain your vehicle, you cannot alter the principle amount owed on the vehicle if you bought it within 910 days of the filing of the bankruptcy petition.   This is notoriously known as the “hanging paragraph” of Bankruptcy Code § 1325(a).
However, as Jacksonville Chapter 11 attorney Brett Mearkle explains, [...]

Bankruptcy relief accomplishes three main goals: i) for the debtor, provides the necessary “breathing room” to propose a debt adjustment plan or reorganization plan; ii) for the debtor’s creditors, ensuring property of the estate (which includes wages earned post-petition) is distributed in accordance with priorities set forth under the Bankruptcy Code; and iii) preservation and [...]

Previously, I discussed how one change to Chapter 11 of the Bankruptcy Code opened up the door for middle-class consumers to take advantage of the code in a way traditionally reserved only for the big boys.
Honestly, I am still a neophyte in this realm of bankruptcy, but I have the good fortune to work with [...]

Wow, my previous post on Individual Chapter 11 cases lit up my email!  Well, I can understand the interest.  How is Chapter 11 better than Chapter 13, and how could a Chapter 11 bankruptcy possibly be cheaper than a Chapter 13?
According to Chapter 11 attorney Brett Mearkle, the first major difference between an Individual Chapter [...]

In my 17 years of practicing bankruptcy law, I have never been as excited by anything as the development of the individual Chapter 11 case.
Traditionally, Chapter 13 has been used for personal reorganizations while Chapter 11 has been reserved for more complex corporate reorganizations.  However, a small handful of sophisticated bankruptcy lawyers, like Brett Mearkle [...]

Most likely, your bankruptcy lawyer didn’t screw up.  You see, even after getting a discharge in bankruptcy, it is possible that creditors will STILL harass you.  However, before you get mad at your bankruptcy lawyer, understand its probably not his/her fault.
This may come as a surprise, but sometimes creditors simply ignore the fact that a [...]

According to the United States Department of Justice, U.S. Trustee program, Americans make less money today than eight months ago.
In order for bankruptcy practitioners to determine whether a person or couple qualifies for Chapter 7, we look to the latest median income figures periodically published by the U.S. Trustee.  Normally, and as anyone would expect, [...]

Jacksonville bankruptcy attorney Chip Parker has begun releasing a series of video blogs entitled Attorney on the Go on the Bankruptcy Law Network YouTube Channel.
The topics will cover a variety of bankruptcy and foreclosure basics.  You can subscribe to the channel, and whenever any of the BLN authors post a video blog, you’ll be the [...]

Bankruptcy and Foreclosure Defense attorney Andy Miofsky announces the opening of his new office in Mt. Vernon Illinois.
“Clients from deep Southern Illinois are driving 90 minutes or more to my Granite City office for a consultation, so I know there is a need that isn’t currently being met in that area,” reports Andy Miofsky.  “I [...]