Could we see a shift to No Money Down Chapter 7 bankruptcy cases?
There is some talk that the bankruptcy code should allow debtor's attorneys to file chapter 7 cases for no money down. A recent Bloomberg Article discusses this
https://www.bna.com/legal-news-rss-n57982058758/
By Daniel Gill
A push to...
Too much student loan debt disqualifies you for chapter 13? Not with Judge Baer in Chicago
Debt Ceiling and Student Loans
There is a debt ceiling in a chapter 13 bankruptcy. Too much debt and a debtor needs to look at chapter 7, or likely, chapter 11. Under Section 109(e) of the bankruptcy code, the limit...
Can I file chapter 13 to get back my car that the City of Chicago impounded?
Can a chapter 13 debtor in Chicago get back their vehicle immediately while paying the parking tickets and impound costs through a chapter 13 plan? The City has been fighting this as of late, and there is a split of authority on the matter,...
Homestead exemption allowed on a 19 year old bankruptcy case.
A recent 2nd Circuit Court opinion on a New York Bankruptcy case allowed a debtor to claim a bankruptcy exemption on a home 19 years after the case was filed.
In re Muscato, 98-14386 (Bankr. W.D.N.Y. March 22, 2018)
The court looked to a...
Top 5 Bankruptcy Misconceptions
Top 5 Bankruptcy Misconceptions
Many people hesitate filing for bankruptcy. No one wants to do it. But many, should do it. Making that determination is often the hardest part about filing for bankruptcy. There are many...
Nearly 5 Million Americans are in default on student loan payments
Nearly 5 Million Americans are in default on student loan payments
A recent Wall Street Journal article discusses the shocking study about student loan payments in default.
"The number of Americans severely behind on payments on...
Is an overpayment of Food Stamps an actual Domestic Support Obligation?
An overpayment of food stamps is not a domestic support obligation (DSO). Bankruptcy Judge Deborah L. Thorne from the Northern District of Illinois chimed in on this issue with her recent decision in Tyeane Halbert v. James T. Dimas, as...
Is my wedding ring or engagement ring exempt in a bankruptcy case?
A wedding ring and engagement ring are exempt in a bankruptcy case, at least in the Northern District of Illinois. In a recent case, Bankruptcy Judge Jack B. Schmetterer of Chicago ruled that a wedding ring and an engagement ring are covered...
Post-petition interest on IRS taxes is not discharged upon successful completion of chapter 13 bankruptcy plan.
"'In this world nothing can be said to be certain, except death and taxes." - Benjamin Franklin.
This is a tough pill to swallow for debtors who successfully complete a chapter 13 bankruptcy case.
In re Thaxton (Bankr. S.D. W. Va.,...