Litigants will have more time to appeal bankruptcy court rulings under a proposed change in Bankruptcy Rule 8002. Time for filing a notice of appeal would be extended from 10 days to 14 days.
The Advisory Committee on Bankruptcy Rules also seeks public comment on whether the appeal deadline should be extended to 30 days [...]

Pro-creditor bankruptcy reform has failed and lenders who push easy credit on weak borrowers should be punished, usury rates restored, according to consumer finance commentators.
“Picking the biggest policy mistake of the past few years is no easy task, … but the Bankruptcy Act of 2005 is a leading contender,” according to Dan Geldon of the [...]

Lately, my clients have been successful getting a refund of their money paid to illegal debt settlement companies. In the past, requests for refunds to these mostly out-of-state operators were ignored.
The key to our success, I suspect, is changing my demand letter to include a report to the Office of the Kansas Bank Commissioner. [...]

A proverb foretells even the grandest project depends on the success of the smallest components. The devil is in the details of Bush Administration plan to deal with the subprime mortgage crisis announced last week. Commentators are predicting the plan will help precious few and won’t help those borrowers who are in trouble now.
Harvard [...]

We have written many posts about exemptions, the list of property you can keep in bankruptcy. It is important to remember that exemptions don’t halt the Internal Revenue Service.
Only a small amount of personal effects is exempt from levy by the IRS outside of bankruptcy and no property will be excluded from a IRS [...]

Thirteen attorneys are appointed by the U.S. Trustee for Region 20 to serve as bankruptcy trustees in chapter 7 bankruptcy cases filed in Kansas. Their job is to administer the case by liquidating property and collecting money for creditors. The trustees are private attorneys, not government employees. All are veterans in the [...]

The bankruptcy trustee cannot take Social Security disability payments and Veterans Administration benefits.
Private disability insurance payments are exempt under Kansas law and federal bankruptcy law. Compensation paid for work injuries is also exempt in Kansas.
If you have a claim pending for any disability benefits you should list the claim as an asset in your [...]

Kansas law has no exemption for a settlement for a personal injury claim, unlike the law of some states which does have an exemption. If you have financial problems and you have a claim against someone for personal injuries or if you have a settlement of a personal injury claim by one lump sum [...]

Moody’s chief economist surprised many today by testifying in favor of H.B. 3609, a proposal pending in Congress to change the bankruptcy law to allow for modification of home mortgage loans in chapter 13 bankruptcy.
Mark Zandi, chief economist for Moody’s and co-founder of Moody’s Economy.com testified before the U.S. House Judiciary Committee Subcommittee on Commercial [...]

“H.R. 3609 would allow a debtor to modify a home mortgage by reducing the amount of the debt to the fair market value of the property, if the property is worth less than the amount of the debt, and to pay that debt at reasonable rates in accordance with existing Supreme Court precedent,” according to [...]