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Social Security Not Considered Disposable Income in Chapter 13

Submitted by Anonymous (not verified) on Fri, 11/16/2012 - 03:29

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Two new court opinions were recently handed down by the 5th and 10th Circuit Court of Appeals on the issue of whether Social Security income is considered “projected disposable income” under the Bankruptcy Code.  Projected disposable income is income that must be paid over to creditors during a 3 to 5 year Chapter 13 payment plan.

Court Protects Vehicle of Unemployed Debtor

Submitted by Anonymous (not verified) on Tue, 09/11/2012 - 14:00

Pretty Girl in CarThe Nebraska Bankruptcy Court has issued a new opinion extending greater protection to vehicles owned by unemployed debtors.  In the case of Angelita Quintero decided on August 22, 2012, the Court expanded the “Tool of the Trade” exemption provided under Neb. Rev.

Chapter 7 Loophole: High Income Debtors allowed to file Chapter 7

Submitted by Anonymous (not verified) on Sat, 08/18/2012 - 16:57

entrepreneur.jpgI had coffee with a great friend of mine who began his own bankruptcy practice a few years ago.  He explained that he recently acquired a very difficult case involving a debtor with a high paying job and he expected a brutal Chapter 13 confirmation process—i.e, he expected the Trustee to demand a significant monthly payment.  Apparently the debtor had bad luck in a business venture and was now deep in SBA loan debt requiring a bankruptcy despite his

Discharging Taxes in Bankruptcy

Submitted by Anonymous (not verified) on Tue, 07/31/2012 - 14:00

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