The Truth About Chapter 11
You may run an incorporated, or, unincorporated, small business. A corporation that wants to keep operating has to file for Chapter 11 to get bankruptcy relief. Individuals may file also; you do not...
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Bankruptcy Petition Preparers: A Really Bad Idea
Bankruptcy Petition Preparers. Should you hire one? Let’s face it. Folks with financial problems aren’t exactly flush with cash. So it’s tempting to cut corners in purchasing legal advice and to...
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Los Angeles Dodgers Filed Chapter 11 Bankruptcy – In Delaware?
(Dodger shirt available through And my own hometown Detroit company, General Motors, filed Chapter 11 in – New York City. Texas based Enron filed in – Delaware. Delaware and New York are the courts...
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How to Do Your Bankruptcy Credit Counseling
The Bankruptcy Code mandates that the debtor take a credit counseling course within 180 days prior to filing bankruptcy. The course is one of the many useless hoops debtors must jump through prior...
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Filing Bankruptcy: Do I Have To Keep My Condo?
Colleague Dana Wilkinson calls it “foreclosure limbo.” You made the difficult decision, accepted reality, you cannot pay your debts, and, even filing bankruptcy, cannot keep your condo. Or, like one...
View ArticleMeans Test and Attorney Fees
I wrote about attorney fees as a means test deduction some time ago. BAPCPA’s provision, codified at section 707(a)(2)(A)(iv) of the Bankruptcy Code, says that priority claims are deducted from...
View ArticleStudent Loans In Bankruptcy
At least the graduate in the picture has a job. Being that is involves wearing a chicken suit, it might not produce enough scratch to pay off his share of the more than $1 trillion dollars in student...
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Foreclosure Scary: Can Bankruptcy Save My House?
Bankruptcy! I don’t want to file bankruptcy! Hey, if you do want to file, there is something wrong with you. But you want to keep your house? Avoid foreclosure? Which option hurts more: losing your...
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Is It Time to Consider Bankruptcy?
How do you know when it’s time to consider bankruptcy? Are your finances in bad enough shape to justify filing bankruptcy? Too bad for it to matter? Not bad enough to even consider it? Here are...
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Should I Tell My Bankruptcy Attorney Everything?
The Huffington Post recently highlighted a story: “12 Things You Should Never Lie About,” some of which do not belong in a family blog, however, #11 is: 11. Anything you say to your lawyer. Be upfront...
View ArticleBankruptcy And Student Loans
Student loan debt is difficult to discharge in bankruptcy. With over a trillion dollars of student loan debt out there, a soft job market, with real wages declining, should we change the bankruptcy...
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Bankrupt: Girls Gone Wild?
Don’t click on the Girls Gone Wild (herienafter, GGW) link unless you are ready to view X rated material. Which, they supposedly get for free, so, why file bankruptcy? Well, it is Chapter 11...
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Chapter 13 Bankruptcy Feasibility
To get your Chapter 13 bankruptcy confirmed (approved) you’ll need to show that you’ve proposed a “feasible” plan. If you haven’t, your plan can’t be confirmed, and your case must be dismissed....
View ArticleBankruptcy and Love
As a bankruptcy lawyer, I’m often contacted by folks who ask, “Should I marry someone who is about to file bankruptcy?” Understandably, they don’t want to be on the hook for the debts of their future...
View ArticleIs Bankruptcy the Right Option For My Business?
Filing bankruptcy for your business can end the frustration and stress of trying to keep the “doors open” on a failing endeavor. But is it necessary? If you have a sole proprietorship, you can’t file...
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Homestead Exemptions if You’re “Livin’ in a Van Down by the River”
When you file bankruptcy, you claim “exemptions” in property you wish to keep free of any claims of the bankruptcy trustee. And the “homestead” exemption–the exemption used to protect your home–is the...
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Bankruptcy Appellate Panel Gets Student Loan Test Right
Bankruptcy lawyers and their clients are plagued by the Brunner test when trying to discharge student loans. While the Bankruptcy Code says that student loans may be discharged if the debtor shows...
View ArticleHow To Modify Your Chapter 13 Plan After Confirmation
You filed for Chapter 13 bankruptcy. Your Plan finally got confirmed, and you’ve been cruising along blissfully ever since. But what happens if there’s a bump in the road and you need to change...
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Bankruptcy Petition Preparers: A Really Bad Idea
Bankruptcy Petition Preparers. Should you hire one? Let’s face it. Folks with financial problems aren’t exactly flush with cash. So it’s tempting to cut corners in purchasing legal advice and to...
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