Under the Fair Credit Reporting Act (“FCRA”) as long as the reported item on a credit report it is listed as $0 balance, or included in bankruptcy, that information can stay as long as it is accurate, complete and not misleading. Therefore,...
ARAG Legal Plans – Bankruptcy Attorney Fees
I wanted to promote the fact that I am now a proud member of the ARAG attorney network. I accept ARAG legal insurance for both chapter 7 and chapter 13 filings. Contact your employer or go to your ARAG login and select me as your requested...
New Supreme Court ruling about false statements and nondischargeability of debts
The Supreme Court yesterday ruled in their most recent decision Lamar, Archer & Cofrin, LLP v. Appling, 16-1215 (Sup. Ct. June 4, 2018) that a false statement about one's assets must be in writing to provide grounds for an objection and...
Chicago Begins To Rethink How Bankruptcy Lawyers Get Paid
Chicago Begins To Rethink How Bankruptcy Lawyers Get Paid - A ProPublica article by Melissa Sanchez.
Judges are demanding that lawyers tell their clients that their other debts might not get paid, but their lawyers...
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 for...
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 bankruptcy plan? The City has been fighting this as of late, and there is a split of authority on...
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...