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4 years 9 months ago

EVICTIONIn many cases you can prevent eviction from moving forward if the landlord does not have a judgment for possession.  In other words, if you receive an initial notice for eviction you may be able to file bankruptcy to stop the process from moving further. In some cases there may be exceptions to consider but […]


4 years 9 months ago

If you file bankruptcy you need to actively participate in their bankruptcy cases.  It is ill advised to file bankruptcy and not complete bankruptcy documents, attend meeting of creditors and to ignore legal papers. Chances are high the bankruptcy case will be dismissed by the court.  With the dismissal, the court's order that stops creditors from collecting money, or foreclosing on a house terminates.

Typically, must bankruptcy petitioners have nothing to be concerned because they have hired a competent professional to guide them through the process.  However, there are some folks that hurry up and rush to file their case to stop a wage garnishment or foreclosure of a house.  As a result of the rush, further paperwork needs to be completed.  If it is not completed the court will dismiss the case.

Once the case is dismissed under these circumstances, the bankruptcy code provides that no individual may be a debtor within 180 days.  (11 U.S.C. § 109(g)(2).)  Like all rules, there some courts provide exceptions if no creditor would be harmed by the refiling of the bankruptcy case, or if a creditor acted in bad faith.    

There is really no exception for the bankruptcy petition that decides he is going to not to play fairly.  For example, are those debtors that file multiple chapter 13 bankruptcy cases to avoid property foreclosures.  In re Rivera, 494 B.R. 101, 104 (B.A.P. 1st Cir. 2013), a debtor filed a second bankruptcy case right after he had his case voluntarily dismissed.  He had the case dismissed because the Court issued an order allowing the bank to continue with the foreclosure because debtor did not make monthly payments.  On the same day that he dismissed his first case, the debtor filed a new chapter 13 case to obtain a new order that prevented foreclosure.  The bank obtained an order dismissing the second bankruptcy case.

In Rivera demonstrates that a debtor cannot circumvent an order granting a creditor relief from the automatic stay by dismissing his bankruptcy case and filing a new case.  It is important for debtors to actively participate in their bankruptcy cases.  Secured creditors will be able to prevent a debtor from dismissing his case in an attempt to continually frustrate the creditor’s legitimate attempts to foreclose on its collateral.    

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4 years 9 months ago

Today-In-Bankruptcy (1)Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for March 13th, 2014 Pacific Steel Casting Files for Bankruptcy Protection Chanel West Coast Files For Bankruptcy Ashley Stewart looks to shed 27 stores in Chapter 11


4 years 9 months ago

DivorceThere are times in which money becomes a problem for married couples looking to end their marriage, bankruptcy at some point may be something either or both spouses are considering.  Some may wonder if it is best to file for one over the other while others may want to do them both at the same […]


4 years 9 months ago

Baldridge v. Douglas Stanley Ellmann (In re Baldridge), Appeal No. 13-1700 (6th Cir., Feb. 3, 2014).
On appeal from the District Court for the Eastern District of Michigan, the Sixth Circuit held that a $28,000 “carve out” recovered by the Chapter 7 Trustee pursuant to 11 U.S.C. § 506(c) after closing a sale on the debtors’ property was not property of the estate that could be subject to the debtors’ exemption because the property was over encumbered by two mortgages, leaving no equity for the debtors to exempt. Read More ›
Tags: 6th Circuit Court of Appeals, Chapter 7


4 years 9 months ago

The automatic stay in bankruptcy is the notice that puts creditors on notice that they cannot take certain actions against you in terms of collecting the debt.  The automatic stay is created immediately upon filing of the bankruptcy case whether or not official notice has been received by that creditor or not.  The automatic stay+ Read MoreThe post What Is The Automatic Stay In Bankruptcy? appeared first on David M. Siegel.


4 years 9 months ago

755594-handcuffsA federal jury in the state of Missouri recently found a woman guilty of making a false statement during a bankruptcy proceeding.  Shelley R. Callahan, 49, of Clinton, Missouri also known as a serial bankruptcy filer for filing multiple petitions in a short time period, appeared in court to face a jury in relation to […]


4 years 9 months ago

The overhaul of the U.S. Bankruptcy laws in 2005 significantly impacted the way secured debt is handled in a bankruptcy proceeding. Those changes were to the great benefit of debtors, our clients. Secured debt is a loan where you have pledged an asset (most commonly a car or a house) as collateral. In the event you do not repay the loan, the creditor has the right to take possession of the property, sell it, and recover what money it can from the sale. The post Secured Debt in Arizona Bankruptcy appeared first on Tucson Bankruptcy Attorney.


4 years 9 months ago

By Mary Ann Gorman
Mt. Gox is in the hot seat as they were granted Chapter 15 bankruptcy protection by the U.S. on Monday. This move prevents traders in the U.S. from taking legal action against them for the current time, protecting their U.S. assets.
The company is fighting off fraud allegations and a proposed class action suit in Chicago. Mt. Gox, who at one time was the nation's biggest bitcoin exchange, filed bankruptcy in Japan in February.
Last month Mt. Got claimed to have been attacked by hackers which resulted in the loss of 750,000 bitcoins owned by customers. The attack supposedly was due to a glitch in bitcoin's software algorithm.
Mt. Got's founder, Mark Karpeles, has been in the spotlight throughout all of the fraud allegation talk.
Some of Karpeles actions right before the U.S. bankruptcy filing were called into question.
Attorney Jane Pearson stated, "We don't have proof yet but we do have concerns about the movement of hundreds of millions of dollars in bitcoins over the weekend, moved by Mr. Karpeles."
Attorneys for Mt. Got deny such fraudulent acts. In April, Mt. Got will be back in court as they try to get permanent stay of U.S. litigation.


4 years 9 months ago

Madison did research on the bankruptcy means test.  Then she emails me for help. Hello. I have been doing some research and I believe my husband and I should file for Chapter 7 Bankruptcy but I’ve taken the means test and our income is well over what I’ve seen the limit for a three household […]The post Madison emails about the Bankruptcy Means Test appeared first on Robert Weed.


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