A tire company sent a reaffirmation agreement to me for one of my clients to sign.  A reaffirmation agreement is a new contract to pay an old debt that is included in your bankruptcy filing.
I laughed when I saw who it was from but I laughed even harder when I discovered it was for a [...]

New bankruptcy time deadlines take effect December 1, 2009.  Time will now be computed in multiples of 7.  This change will minimize situations where deadlines come due on weekends.
Bankruptcy has many different deadlines based on multiples of 5 – 5 days to submit documents, 10 days to appeal, 15 days to file pleadings, 20 or [...]

One of the most common fears that people considering bankruptcy have is whether or not they will lose their retirement if they file for bankruptcy.
Like all legal questions, the answer to the question of whether or not a debtor will lose their retirement benefits if they file for bankruptcy is that they will probably not [...]

From time to time I receive emails from men or women who have gone through a divorce and whose ex-spouse has filed a bankruptcy.  They usually want to know if their ex-spouse’s bankruptcy can eliminate obligations set out in a divorce order.
In general, Bankruptcy Code Section 523(a)(5) and 523(a)(15) except from discharge debts arising from [...]

It’s no secret that if you need to file bankruptcy, you are under stress. Financial problems are horrible, and they are real. But don’t let financial problems consume your life. Concentrate on what’s truly important: your health and your family.
I keep a box of Kleenex on my desk for my clients. By the time [...]

“I don’t want to file bankruptcy on my house!”  “I don’t want to file bankruptcy on my car!”  “I owe my mom some money but I don’t want to file bankruptcy on her!”
Every bankruptcy attorney practicing in this country has heard these phrases or variations of them.  The client wants to keep his home so he thinks [...]

Senior citizens with fixed incomes frequently think about filing for bankruptcy.  Even though we have experienced a horrible mortgage meltdown, many retired people have actually paid off their houses and, at least in theory, still have equity.  Yet their social security income is not enough to live.  Even worse, many pensions have been cut back [...]

Hat tip to my New York colleague, David B. Shaev, for the excellent coverage and honest statements. Finally, the news media gets their information about bankruptcy right!

Some bankruptcy lawyers need no introduction, but we’re giving one anyway to Carey Ebert, Ft. Worth bankruptcy lawyer and current President of the National Association of Consumer Bankruptcy Attorneys.  Carey is coming on board as a Contributing Author, and you’ll see her posts here on Bankruptcy Law Network for as long as we can keep [...]

The U.S Court of Appeals, Fifth Circuit, recently ruled that on the means test’s Form B22A, a vehicle ownership expense is allowed even when the debtor has no car payment.  The court’s ruling in In re Tate, No. 08-60953 (5th Cir. June 10, 2009), agrees with the only other circuit court opinion on this issue, In re [...]