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While bankruptcy relief is available as a tool for individuals to discharge debts, it is not available to everyone, under all circumstances. Before a debtor can, for example, discharge debts in a Chapter 7 bankruptcy, he or she must prove that debts and income are within certain statutory thresholds. When determining whether an individual is eligible for relief, the nature of the debts at issue is also relevant. Read More ›
Tags: Chapter 13, Chapter 7, Eastern District of Michigan
The New Agreement Getting paid as a chapter 13 debtor’s attorney has always proven somewhat difficult. Not the least of which is that the debtor typically must make chapter 13 plan payments from which counsel can be paid. Add on top of that the fee application, the fee order and the presentment been before the+ Read More
The post New Court Approved Retention Agreement For Chapter 13 Cases Arrives Suddenly appeared first on David M. Siegel.
If you are selling your home as a FBSO (For Sale By Owner) or buying a home which is being sold FSBO, you need a knowledgeable Walworth County real estate attorney to protect your real estate transaction. Many things could and do go wrong during a FSBO real estate transaction. Walworth County real estate attorney Shannon Wynn will help you steer clear of potential pitfalls.
How Walworth County Real Estate Attorney Shannon Wynn Helps FSBO Parties:
1. A Walworth County real estate attorney can protect your home sale when unexpected circumstances occur which are not covered on a real estate agent’s standardized form.
2. A Walworth County real estate attorney can assist FSBO buyers with writing and revising an Offer to Purchase as well as any needed Counteroffers.
3. A Walworth County real estate attorney can negotiate on your behalf during the purchase process.
4. A Walworth County real estate attorney can help FSBO buyers with construction, zoning, and association questions.
5. If the buyer’s home inspection comes back undesirable, a Walworth County real estate attorney can help you resolve those issues.
6. If anything at closing goes awry, such as the buyer backing out or an issue with your title insurance, a Walworth County real estate attorney will be on your side to protect your home sale and assist with any special circumstances.
7. A Walworth County real estate attorney will make sure that all contracts adhere to Wisconsin state law.
8. FSBO parties need a Walworth County real estate attorney to review title of property. There are many issues that need to be addressed, such as: Is the legal description correct on the title? Are liens and judgments removed? Are there easements on the FSBO property that will affect the sale?
9. A Walworth County real estate attorney can assist FSBO parties with issues involving the title company. Without a real estate attorney, FSBO parties need to arrange for title insurance, preparing the deed and scheduling the closing.
Contact Our Walworth County Real Estate Attorney, Shannon Wynn
Hiring a Walworth County real estate attorney to protect your rights, money, and real estate transaction is the common sense thing for FSBO parties to do. A Walworth County real estate attorney will make sure your FSBO sale is completed lawfully and fairly. If you are planning to list your home as a FSBO, contact our Walworth County real estate attorney, Shannon Wynn, to assist you every step of the way. You can reach our Walworth County real estate office, Wynn at Law, LLC, by phone at 262-725-0175 or by email via our website’s contact page. Wynn at Law, LLC has real estate offices located in Lake Geneva, Delavan, Salem, and Muskego.
*The content and material on this web page is for informational purposes only and does not constitute legal advice.
Nature Of The Debtor This is the chapter 7 bankruptcy case study for Mrs. C., who resides in Wheeling, Illinois. She has come to the office with the simple thought in mind to eliminate her outstanding credit card debt and medical debt. She has been struggling for approximately three years. Although she has been+ Read More
The post Case Study For Mrs. C. From Wheeling, Illinois appeared first on David M. Siegel.
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Citation:
No. 16-4000 (D.C. No. 2:05-CV-00555-TC)
Ruling:
Appeal dismissed for lack of standing.
Judge(s):
HOLMES, BALDOCK, and MORITZ,
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Citation:
In re Castellino Villas, A.K.F. LLC, No. 12-57186 (9th Cir. Sep. 6, 2016). Published.
Ruling:
A chapter 11 debtor that continues after plan confirmation to defend a creditor’s prepetition lien-enforcement action has not “returned to the fray,” and the creditor’s postpetition attorney-fee claim is discharged.
Judge(s):
Michael J. Melloy, Senior Circuit Judge for the Eighth Circuit Court of Appeals, and Jay S. Bybee and Sandra S. Ikuta, Ninth Circuit Judges. Opinion by Judge Ikuta.
When someone is looking to file chapter 13 bankruptcy, they obviously want to pay back as little as possible. They also want to gain the greatest amount of relief during the process. There are a number of factors that go into determining whether or not the monthly payment is going to be high, low, or+ Read More
The post Paying Back As Little As Possible Under Chapter 13 appeared first on David M. Siegel.
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Citation:
--- F.3d ---, Case No. 15-51045 (5th Cir. 2016)
Ruling:
AFFIRMED lower courts' rulings that state court judgment and sanctions were non-dischargeable under 11 U.S.C. 523(a)(2)(A) & (a)(6). Court of appeals rejected all grounds raised by the debtor, including the ground that the state court sanctions order was insufficient ...
Judge(s):
Stewart, Clement, Haynes
Why Filing Bankruptcy Stops Payroll Garnishment: Virginia Law, Virginia Form I’m surprised a couple times each month by Virginia employers who don’t know that bankrutpcy stops payroll garnishment. Some employers think they need to keep on garnishing, until they get an order from a judge saying to stop. But if the read the Garnishee’s Answer Form, […]The post Why Filing Bankruptcy Stops Payroll Garnishment: Virginia Law by Robert Weed appeared first on Robert Weed.
Here at Shenwick & Associates, we've written extensively about the "means test," which is a complex series of calculations based on household size and income to determine if a debtor is eligible to file for Chapter 7 bankruptcy. However, the means test only applies to individuals whose debts are primarily "consumer debts," as opposed to business debts, pursuant to § 707 of the Bankruptcy Code. Congress did not define the word "primarily," but most courts have defined the word to mean more than half. If more than 50% of the debtor's debts are non-consumer debts or business debts, the debtor is automatically eligible to file for Chapter 7 bankruptcy without doing the means test, and the presumption of abuse does not apply.
What are consumer debts? Section 101(8) of the Bankruptcy Code defines a consumer debt as "debt incurred by an individual primarily for a personal, family, or household purpose." Many bankruptcy courts have developed a "profit motive" test. If the debt was incurred with an eye towards making a profit, then the debt should be classified as business debt. Accordingly, a mortgage on an individual's home would be considered consumer debt; however, if a vacation home were purchased for investment purposes and rented out, then the mortgage would qualify as business debt. If an individual uses credit cards for consumer purchases, then those debts are consumer debts; however, if an individual used the credit card for business purposes, then in all likelihood that debt would be deemed business debt. If an individual guaranteed a debt for a business obligation, that personal guaranty would be deemed business debt, as would the investment losses.
- Less than 50% of total scheduled debt was incurred for personal, household or family purposes.
- Purpose of debt is judged at the time the debt was incurred.
- Home mortgages are typically consumer debt.
- Most tax debts are not typically consumer debt.
However, with respect to tax debts, a number of bankruptcy courts outside the Second Circuit have held that those debts are business debts. See In re Brashers, 216 B.R. 59 (Bankr. N.D. Okla. 1998), which holds that the debtor's income tax obligations do not constitute consumer debt; see alsoInternal Revenue Service v. Westberry (In re Westberry), 215 F.3d 589 (6th Cir. 2000), which also holds that taxes are not consumer debt. Many subsequent courts examining this issue have followed the Westberry analysis.
For all of your questions regarding debts, whether they be credit card, medical, consumer, business, taxes, secured or unsecured, please contact Jim Shenwick.
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