Bankruptcy Assessment

Basic Bankruptcy Questions Whenever I meet with a bankruptcy client the first duty I have is to try and figure out what services they need and if I can help them.  I usually start by asking basic questions about their lives.  Are they married?  Do they have children?  What do they do for a living?  […]

Do I have to list ALL of my debts in bankruptcy?

Do I have to List all of My Debts in Bankruptcy?  YES.  You cannot pick and choose which creditors are listed in the case.  All of your creditors must be listed, including family members and friends.  One of your debtor duties under the bankruptcy code is you “shall file a list of creditors”. See 11 USC 521.   This is to ensure that […]

In re Fulton

The recent U.S. Supreme Court decision in City of Chicago, Illinois v. Robbin L. Fulton (Chicago v. Fulton) clarifies for creditors whether inaction on the part of the creditor constitutes a violation of the “stay” put in place by a debtor’s bankruptcy filing. While on the surface the decision seems to change something debtors’ attorneys […]

Does My Non-Filing Spouse Have to Make My Bankruptcy Payments in Chapter 13?

Married people do not have to file a case together.  There are times when only one of the spouses might need or want to file a case and that is absolutely ok.  The non-filing spouse does not have to make the bankruptcy payments in Chapter 13 bankruptcy for the person that files.  This does not mean the non-filing […]

Stimulus Checks and Bankruptcy

Many people are wondering if any future stimulus checks may be taken by the bankruptcy trustee if they file bankruptcy. These stimulus checks are helping a lot of people make important repairs to their vehicles and homes, buy clothes and supplies for their children, and support local businesses while giving themselves a much-needed break by ordering in. So can you […]

Divorce During Bankruptcy

What happens if I get a divorce during my Chapter 13 bankruptcy?  A Chapter 13 bankruptcy repayment plan lasts between 3 and 5 years. During that time, many families have significant changes to their household—one of those could be divorce. If a married couple decides to get a divorce before their Chapter 13 repayment plan […]

Why First and Last Payments in Chapter 13 Bankruptcy are the Most Important Payments to Make Timely

Why first and last payments in chapter 13 bankruptcy are the most important payments to make timely.  In a Chapter 13 bankruptcy, you will make monthly payments to the bankruptcy trustee. The bankruptcy trustee is an official appointed by the United States Trustee Program, a component of the Department of Justice, to administer bankruptcy cases in their region. Part of the trustee’s job […]

Good Faith Factors in Chapter 13

Overview: The Bankruptcy Code requires Chapter 13 plans to be “proposed in good faith”. The code does not have a set standard of what meets this “good faith” test, but courts tend to have a list of factors they consider along with a totality of the circumstances test to determine good faith. Today’s post details […]

Do married people filing separate bankruptcies each get a homestead exemption?

Overview:  When you are considering filing for bankruptcy and you are married, you must decide whether or not you and your spouse want to file together, only have one person file, or both file separately.  You have the option to file jointly, meaning all property of both spouses and all debts become property of a single bankruptcy estate. You can also […]

Can the bankruptcy trustee seize my class action settlement?

Financial disclosure is paramount in filing a bankruptcy petition and can impact the chances of a discharge. In re Lana shows us that the trustee is always looking, even post discharge, for undisclosed assets and why it is important to disclose any potential lawsuit or settlement in your Schedule A/B. Today’s article will touch on personal injury claims and how they fit into the bankruptcy […]