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2 days 12 hours ago

A chapter 13 case is started by filing a petition with the Bankruptcy Court along with the schedules and statements that explain the person's financial situation. Under chapter 13, the debtor must submit a plan or reorganization to provide for his various classes of debt - priority, secured, and unsecured. A chapter 13 debtor is generally required to devote all of his "projected disposable income" to repay a percentage of unsecured debt over a period of three to five years.

A chapter 13 case is overseen by a chapter 13 trustee. The main duties of a chapter 13 trustee is to receive the monthly chapter 13 plan payments and to distribute them to the creditors pursuant to the chapter 13 plan.

A chapter 13 debtor receives a discharge after all payments required under the chapter 13 plan have been completed.Jordan E. Bublick - Miami Bankruptcy Lawyer - Kendall & Aventura Offices - (305) 891-4055 - www.bublicklaw.com


2 days 15 hours ago

A chapter 13 case is started by filing a petition with the Bankruptcy Court along with the schedules and statements that explain the person's financial situation. Under chapter 13, the debtor must submit a plan or reorganization to provide for his various classes of debt - priority, secured, and unsecured. A chapter 13 debtor is generally required to devote all of his "projected disposable income" to repay a percentage of unsecured debt over a period of three to five years.

A chapter 13 case is overseen by a chapter 13 trustee. The main duties of a chapter 13 trustee is to receive the monthly chapter 13 plan payments and to distribute them to the creditors pursuant to the chapter 13 plan.

A chapter 13 debtor receives a discharge after all payments required under the chapter 13 plan have been completed.Jordan E. Bublick - Miami Bankruptcy Lawyer - Kendall & Aventura Offices - (305) 891-4055 - www.bublicklaw.com


3 days 7 hours ago

When a person files for bankruptcy in Florida and owes a gambling debt in Nevada, which states' law apply in determining whether the claim on the gambling debt should be allowed or whether it is dischargeable or nondischargeable?  A 2006 Florida bankruptcy ruling dealt with this issue.

The Bankruptcy Court reviewed that normally a federal court hearing a matter pursuant to diversity jurisdiction must apply the law of the state in which it sits, but that such rule does not apply to a bankruptcy court as it is not sitting as a court of diversity. The Bankruptcy Court reviewed prior precedent that noted that the choice of which state's law applies should in part be based on which state's law more logically relates to the claim and the "significant relationship" test.

Jordan E. Bublick - Miami Bankruptcy Lawyer - Kendall & Aventura Offices - (305) 891-4055 - www.bublicklaw.com


3 days 7 hours ago

When a person files for bankruptcy in Florida and owes a gambling debt in Nevada, which states' law apply in determining whether the claim on the gambling debt should be allowed or whether it is dischargeable or nondischargeable?  A 2006 Florida bankruptcy ruling dealt with this issue.

The Bankruptcy Court reviewed that normally a federal court hearing a matter pursuant to diversity jurisdiction must apply the law of the state in which it sits, but that such rule does not apply to a bankruptcy court as it is not sitting as a court of diversity. The Bankruptcy Court reviewed prior precedent that noted that the choice of which state's law applies should in part be based on which state's law more logically relates to the claim and the "significant relationship" test.

Jordan E. Bublick - Miami Bankruptcy Lawyer - Kendall & Aventura Offices - (305) 891-4055 - www.bublicklaw.com


3 days 7 hours ago

Before your bankruptcy attorney pulls the trigger on an actual filing, you should undergo a thorough final review of your petition. You may discover that your monthly plan payment can change based upon your current circumstances. You may have assets that have shifted or otherwise transferred in the ordinary course of business. You also may+ Read More
The post Final Review Of Your Chapter 13 Bankruptcy Petition appeared first on David M. Siegel.


3 days 7 hours ago

The issuance by the Floirda Third District Court of Appeals in Miami of the recent decision in Deutsche Bank Trust Company Americas, etc. v. Harry Beauvais, et al., Case No. 3D14-575, may be an appropriate time to review what actions a Miami homeowner that seeks to save their home from foreclosure.  If upheld, the Court's decision may indicate that some notions of "foreclosure defense" may need to be reviewed.  

A homeowner seeking to save their home from foreclosure may be better served on directing his or her efforts towards the modification of their mortgage instead of  "winning" a foreclosure case.   For example, it appears that in many or most cases, arguments regarding statute of limitations issues may not result in a "quiet title" judgment.

Present Modification Opportunities

If a homeowner seeks to save their home from foreclosure, focusing primarily on "foreclosure defense" is not likely to be the solution.   The federal government, the mortgage lenders, and the general economic climate, present good opportunities to modify your mortgage that may not exist in years to come.  For many, the after-tax benefit cost of paying a modified mortgage payment may not be significantly more than paying for a "foreclosure defense"

Chapter 13 Bankruptcy

A person may pursue a mortgage modification on their own or with the assistance of an attorney. In some cases, it may be appropriate to file for the mortgage modification as part of the Bankruptcy Court' Mortgage Modification Mediation ("MMM") program. If the second mortgage is wholly "underwater," the homeowner would often be able "lien strip" or avoid it as part of his chapter 13 plan.  

Possible Rising Real Estate Price and Interest Rates 

A homeowner may be making a error in not taking the opportunity to modify their mortgage based on present real estate values and interest rates. Real estate prices and interest rates may be rise,  causing the new modification payment to be higher the longer a person waits to pursue a modification.

Also, if a person who has a first and second mortgage, it would be better to address their situation before there is a rise is in real estate prices. If the second mortgage is wholly "underwater", it may be avoidable in a bankruptcy case.  If real estate prices go up enough that the second mortgage is not wholly "underwater," the second mortgage could not be avoided at all.

"Winning" Foreclosure

There may not exist much of a thing as "winning" a foreclosure case. For many, simply getting a foreclosure case dismissed, "with" or "without" prejudice may not be much of a "win".  In most instances, a new foreclosure action may be filed on a new default almost immediately.

For example,  "winning" a foreclosure case by getting the case dismissed may not be much of a "win" - it may only mean that the lender can simply file another case.

Statute of Limitations

Even if the statute of limitations has run to bring a foreclosure action on the mortgage note, generally the mortgage note remains valid and the mortgage and its liens remains valid. The continued validity of the mortgage and its lien is governed by the time period set forth in the statute of repose - which is different than the statute of limitations.

Jordan E. Bublick - Miami Bankruptcy Lawyer - Kendall & Aventura Offices - (305) 891-4055 - www.bublicklaw.com


3 days 7 hours ago

The issuance by the Floirda Third District Court of Appeals in Miami of the recent decision in Deutsche Bank Trust Company Americas, etc. v. Harry Beauvais, et al., Case No. 3D14-575, may be an appropriate time to review what actions a Miami homeowner that seeks to save their home from foreclosure.  If upheld, the Court's decision may indicate that some notions of "foreclosure defense" may need to be reviewed.  

A homeowner seeking to save their home from foreclosure may be better served on directing his or her efforts towards the modification of their mortgage instead of  "winning" a foreclosure case.   For example, it appears that in many or most cases, arguments regarding statute of limitations issues may not result in a "quiet title" judgment.

Present Modification Opportunities

If a homeowner seeks to save their home from foreclosure, focusing primarily on "foreclosure defense" is not likely to be the solution.   The federal government, the mortgage lenders, and the general economic climate, present good opportunities to modify your mortgage that may not exist in years to come.  For many, the after-tax benefit cost of paying a modified mortgage payment may not be significantly more than paying for a "foreclosure defense"

Chapter 13 Bankruptcy

A person may pursue a mortgage modification on their own or with the assistance of an attorney. In some cases, it may be appropriate to file for the mortgage modification as part of the Bankruptcy Court' Mortgage Modification Mediation ("MMM") program. If the second mortgage is wholly "underwater," the homeowner would often be able "lien strip" or avoid it as part of his chapter 13 plan.  

Possible Rising Real Estate Price and Interest Rates 

A homeowner may be making a error in not taking the opportunity to modify their mortgage based on present real estate values and interest rates. Real estate prices and interest rates may be rise,  causing the new modification payment to be higher the longer a person waits to pursue a modification.

Also, if a person who has a first and second mortgage, it would be better to address their situation before there is a rise is in real estate prices. If the second mortgage is wholly "underwater", it may be avoidable in a bankruptcy case.  If real estate prices go up enough that the second mortgage is not wholly "underwater," the second mortgage could not be avoided at all.

"Winning" Foreclosure

There may not exist much of a thing as "winning" a foreclosure case. For many, simply getting a foreclosure case dismissed, "with" or "without" prejudice may not be much of a "win".  In most instances, a new foreclosure action may be filed on a new default almost immediately.

For example,  "winning" a foreclosure case by getting the case dismissed may not be much of a "win" - it may only mean that the lender can simply file another case.

Statute of Limitations

Even if the statute of limitations has run to bring a foreclosure action on the mortgage note, generally the mortgage note remains valid and the mortgage and its liens remains valid. The continued validity of the mortgage and its lien is governed by the time period set forth in the statute of repose - which is different than the statute of limitations.

Jordan E. Bublick - Miami Bankruptcy Lawyer - Kendall & Aventura Offices - (305) 891-4055 - www.bublicklaw.com


2 days 6 hours ago

On June 1, 2015, the United States Supreme Court decided Bank of America v. Caulkett, No. 13-1421, together with Bank of America v. Toledo-Cardona, No. 14-163, holding unanimously that a Chapter 7 bankruptcy debtor cannot “strip off” a junior lien.
Lien stripping takes place when there are two or more liens on a property, and the senior lien is “underwater” in that the amount owed on the senior lien is greater than the value of the property. In a Chapter 13 case a property owner can strip off the junior lien, resulting in it being treated as unsecured debt in the bankruptcy.
In these cases, the Court held that a Chapter 7 debtor may not void a junior lien under 11 U.S.C. § 506(d) when the debt owed on a senior lien exceeds the current value of the collateral if the junior creditor’s claim is both secured by a lien and allowed under § 502 of the Bankruptcy Code. Read More ›
Tags: Chapter 13, Chapter 7, U.S. Supreme Court


4 days 1 hour ago

Susanne Soederberg, a professor of political studies and global development studies at Queen’s University in Canada, is calling for the student loan industry to be, “revealed, attacked, and uprooted.”
In her article on Dollars & Sense, Soederberg says the educational finance is not part of the natural order of things. Rather, it’s part of the poverty industry, which

includes educational lending, but extends to other forms of consumer credit—such as payday loans, credit cards, sub-prime housing loans—all of which feed off of and reproduce marginalization and insecurity. The increasing reliance on expensive personal loans to replace or augment wages—as well as obtain an education—is not a natural phenomenon. Rather, it is a social construction that needs be revealed, attacked, and uprooted, not negotiated within the territory of consumer protection, which is sponsored by the debtfare state and the capitalist interests it represents.

The debtfare state, a term apparently coined by Soederberg, is what she calls a new feature of governance that exists alongside the welfare state. The system uses a set of institutional and ideological practices aimed at

regulating and normalizing the growing dependence on expensive consumer credit to meet basic needs, such as education. Personal bankruptcy law is a core regulatory feature of debtfarism, as it acts to deal with defaults in the student loan industry and to ensure the legal and moral obligation of debt—regardless of the borrower’s ability to repay.

In other words, the government creates a new set of laws that’s designed to keep people in debt except in only the most extreme of situations.
By creating a safety valve in the form of bankruptcy the government can punish people by forcing them into bankruptcy as it ignores the fact that it created the regulatory scheme that made it inevitable that people would need the help in the first place.
It’s akin to a diet drug manufacturer going out and buying a cupcake factory to ensure that it has enough customers who want to buy the diet drug.
Leave it to a Canadian to see things clearly.
Banks lend money to people who have been sold on the American Dream of higher education as a ticket to wealth and stability.
The more those people borrow, the more money the banks make. And the less likely they are to repay the debt, the more the bank can charge in interest to those who do make their payments.
In addition, those who fail to pay are subject to lawsuits and judgments, which lead in many cases to wage garnishments and bank account levies.
This, in turn, forces more of the population to rely on credit cards as a way to make ends meet. Here, again, the banks make more money.
All this happens as those who originally sought a way to a better financial future are kept down economically and sociologically.
The rich get richer, the poor get poorer. And that makes the rich happier.
Now we’ve got the bankruptcy problem. If we make it too easy for people to discharge their student loans in bankruptcy then more will do so. Banks won’t make as much money, and investors will go elsewhere.
Now, according to Soederberg’s theory, is where the government steps in by creating a series of consumer protection laws. By making relief available at a price (credit standing, money, negative connotations due to societal attitudes), the government is able to show that help is available … to an extent. With respect to student loans, the relief available in the bankruptcy law is so narrowly available as to be worthless.
With bankruptcy safely out of the picture, people remain indebted and the cycle continues. The rich get richer, the poor get poorer.
It’s an interesting read, and I recommend it highly if for no other reason than as a window into a possible different way of thinking.
Photo credit: fleschmanpix/Flickr

The post Student Loans, Debtfare and the Poverty Industry appeared first on Bankruptcy and Student Loan Lawyers - 866.787.8078.


4 days 13 hours ago

An Oregon foreclosure mediation program has undeniably helped many debtors find a way to stay in their homes. The program provides Oregonians with a chance to meet with lenders in order to find ways avoid a foreclosure. The latest data from the Oregon Department of Justice show that since the program’s inception, more than 1,700 Oregonians have used it to reach agreements with their banks.
The bad news is that because mortgage lenders are obligated to participate in mediation but not required actually reach a resolution with the borrower, over 1800 of the conferences have done nothing to ward off foreclosure. Even more borrower have chosen to not participate in the program at all. Most of them probably realized that the program was unlikely to work.
The reality is that Chapter 13 Bankruptcy is the one tool that will almost always enable an Oregon homeowner to stop the foreclosure process in its tracks. Once the Chapter 13 is filed, the homeowner is given the chance to pay off the mortgage arrears over a three to five year period interest free.
Contract our offices if you have any questions at all about how Chapter 13 Bankruptcy might enable you to keep your house.
The original post is titled Foreclosure Mediation Program for Oregon Debtors , and it came from Portland Bankruptcy Attorney | Northwest Debt Relief .


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