Medical Bankruptcy

Admin on July 5, 2017 Posted in Bankruptcy Law, Blog

Consumers face debt for numerous reasons. Debt can be due to loss of income, decrease in income, disaster, unchecked spending, and more. A significant source of debt is due to medical bills, often caused by weak or no insurance coverage. Some individuals with serious and exploratory conditions may seek alternative treatment that is not covered […]

Foreign Nationals Filing for Bankruptcy

Admin on June 19, 2017 Posted in Bankruptcy Law, Blog

Internationally, many people view the United States of America as the land of opportunity, where anyone has the chance to obtain wealth. Many immigrants have come to these shores with nothing but the clothes on their backs and have succeeded at achieving the American dream. Millions of illegal immigrants have come to this country, as […]

Bankruptcy Set-off

Admin on May 18, 2017 Posted in Bankruptcy Law, Blog

The United States bankruptcy code provides the honest debtor with the ability to attain a fresh start. Provided that a debtor meets all applicable rules and standards of bankruptcy, he or she can first stop collections through the automatic stay and upon completion of the bankruptcy process, be discharged of debts owed. The automatic stay […]

The Intersection of Family and Bankruptcy Law

Admin on May 6, 2017 Posted in Bankruptcy Law, Blog

The devastating effects of divorce often intersect with bankruptcy law. Couples who reside together share certain costs, like housing, food, bills, and more. When people split and go their separate ways, such expenses are not shared, leading to an increase cost of living expenses. This increase intensifies financial stress, wherein the parties have increased living […]

341(a) Meeting

Admin on April 13, 2017 Posted in Bankruptcy Law, Blog

One feature of the Bankruptcy Abuse Prevention Creditor Protection Act, or BAPCPA, was the creation of the 341(a) meeting of the creditors. The purpose of this meeting is to allow the trustee to verify the accuracy of the bankruptcy petition and to give the creditors a forum to discuss the petition and ask questions. Every […]

Bankruptcy Preference

Admin on April 5, 2017 Posted in Bankruptcy Law, Blog

Imagine a debtor who owes $500, $100 to each of Creditor A, B, C, D, and E. The debtor has $100 in his pocket. The debtor takes that money and gives it to Creditor A, thereby satisfying his $100 debt to Creditor A. In theory, the debtor could have given the same money to any […]

Bankruptcy Through the Ages

Admin on March 24, 2017 Posted in Bankruptcy Law, Blog

In ancient Rome, debtors who were unable to pay off their debts faced a cruel and harsh bankruptcy system. The creditors would seize all their property and sell it to one person. If that did not satisfy the debt, the debtor would still owe the remaining sums. The debtor would be left with nothing while […]

Stern v. Marshall

Admin on March 17, 2017 Posted in Bankruptcy Law, Blog

The 2011 United States Supreme Court ruling in the case of Stern v. Marshall has both a practical bankruptcy angle and Hollywood flair. That case concerned the longstanding litigation between Vickie Lynn Marshall, known to the public as Anna Nicole Smith, and Pierce Marshall, the son of Vickie Lynn Marshall’s former husband, J. Howard Marshall. […]

363 Sales

Admin on February 4, 2017 Posted in Bankruptcy Law, Blog, Chapter 13 Bankruptcy

Upon filing a bankruptcy case, “all legal or equitable interests of the debtor in property as of the commencement of the case” becomes the property of the bankruptcy estate. If bankruptcy estate property is to be sold, such a sale is termed a “363 sale,” or a bankruptcy sale. A 363 sale is based on […]

Loan Agreements

Admin on January 29, 2017 Posted in Bankruptcy Law, Blog

The old adage is that it takes money to make money. When an individual borrows money for a business venture, that individual will be responsible for paying back the loan. The same is applicable for an individual who borrows money for home improvement, a vacation or any other reason. Like other creditor-debtor relationships, borrowing money […]