Timeline of Chapter 7 Bankruptcy Case
Typical debtor(s)’s Chapter 7 bankruptcy case begins once a Petition is filed with the Bankruptcy Court. If the debtors are married, they may file a joint Petition. Debtor’s petition includes schedules...
View ArticleCan Debtor Keep a Credit Card After Filing Bankruptcy
I am often asked if debtor can keep a credit card after the bankruptcy is filed, especially if the credit card does not have a balance. Generally, debtors are always interested in trying to keep a...
View ArticleMake a Choice Between Bankruptcy and Short Sale
Homeowners who are underwater on their home mortgages (underwater mortgage means that the homeowner owes more than his/her house is worth) often attempt to do a short sale. A short sale occurs when the...
View ArticleHealth Savings Accounts, Flexible Spending Accounts and Bankruptcy
In the last few years, especially since Affordable Care Act became law, Health Savings Account (“HSA”) or Flexible Spending Account (“FSA”) became a lot more popular as consumers are dealing with ever...
View ArticleDebtor and Ability to Reopen Bankruptcy
Generally, chapter 7 debtors have the right to reopen their cases for various purposes after their case is closed. Usually, the court will allow the debtor to do so to remove judicial liens for...
View ArticleUpdate on Discharge of Student Loans – $221,000 in Student Loans Discharged
One of the more difficult problems associated with bankruptcy has been discharge of student loans. A recent decision by Chief Judge Cecelia Morris of U.S. Bankruptcy Court for the Southern District of...
View ArticleAre Pension or 401k Loans Dischargeable?
A significant percentage of retirement plans, like pensions or 401k plans, allow you to borrow money from individual accounts in case of need. One of the most common situations is debtors borrowing...
View ArticleWhat Happens to My Bankruptcy Case During the Coronavirus Pandemic?
As a result of the COVID-19 (“Coronavirus”) pandemic, bankruptcy court implemented significant changes to its procedures in order to protect the health and safety of individuals. Federal courts,...
View ArticleIs Your Car Too Expensive? Bankruptcy Can Help
Next to home mortgages, motor vehicle loans are often your largest debt. The average cost of a new car or truck sold in the U.S. during 2019 exceeded $36,000.00. Borrowers are taking vehicle purchase...
View ArticleAnother Update on Discharge of Student Loans – The Challenge of Obtaining a...
I wrote in 2020 about a bankruptcy case, In Re Rosenberg, where the court discharged $221,000 in student loans that were accumulated by a law school graduate. At the time, I had substantial doubts...
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