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Another Unfavorable Bankruptcy Means Test Decision »

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.

Bankruptcy Means Test: Unfavorable Decision in Ninth BAP »

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 [...]

Modifying Co-Signed Secured Debt in Chapter 13? Be careful. »

Chapter 13 bankruptcy provides a powerful tool  — You can provide for special treatment of co-signed debt, allowing it to be paid more than other similar creditors.  In this way, you can “protect” your co-signer from having to repay part or all of the debt you incurred with their help.
But what happens when you owe [...]

Living With Your Chapter 13 Plan »

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 possible that [...]

My Bankruptcy 341 Meeting of Creditors Is Coming Up — What Should I Expect? »

You’ve filed bankruptcy and now your § 341 Creditors Meeting is coming up.  What should you expect?  Understandably, many people are apprehensive about their “court” appearance.  Usually, in most consumer oriented bankruptcy cases, the § 341 Meeting of Creditors is not an ordeal.
First, the § 341 Creditors Meeting is required and it is required that you attend this [...]

Watch a Bankruptcy Meeting of Creditors »

What will they ask me at my bankruptcy hearing?

What Happens if You Don’t Object to Bankruptcy Claim? »

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?

When Is My First Chapter 13 Plan Payment Due? »

In a Chapter 13 bankruptcy the debtor proposes a Plan where he makes monthly payments of the arrearages (past due debt) to the Chapter 13 trustee.
Because money is already tight, the question I hear most often from clients  is when will the first Chapter 13 Plan payment due?
The general rule is found in the Bankruptcy Code, 11 U.S.C. [...]

Pamela Stewart speaks at The People’s Law School »

Pamela Stewart, a Houston/Victoria (Texas) consumer bankruptcy lawyer spoke recently about bankruptcy at The People’s Law School sponsored by The University of Houston Law Center  – Center for Consumer Law.
Highlights of the session included discussion of the different chapters of bankruptcy, who is eligible to file a Chapter 7 or Chapter 13 bankruptcy, the meeting of creditors that all [...]

A Good Foreclosure Story »

Unless you’ve been living under a rock, you know that foreclosures are at record levels. That’s true all over, but it’s even more of a problem for folks in Michigan. Caught between the real estate meltdown and increasing globalization of manufacturing, things haven’t been this bad since the Great Depression. Unemployment is at almost 15%, [...]