While it is possible to change bankruptcy attorneys in the middle of the case, it often will not make a difference in the outcome of the case. The relationship between a client and a bankruptcy attorney is one of trust, confidence, respect, diligence and communication. If there is a breakdown in any one or more+ Read More

While it is possible to change bankruptcy attorneys in the middle of the case, it often will not make a difference in the outcome of the case. The relationship between a client and a bankruptcy attorney is one of trust, confidence, respect, diligence and communication. If there is a breakdown in any one or more+ Read More

While it is possible to change bankruptcy attorneys in the middle of the case, it often will not make a difference in the outcome of the case. The relationship between a client and a bankruptcy attorney is one of trust, confidence, respect, diligence and communication. If there is a breakdown in any one or more+ Read More

In a recent decision, the Bankruptcy Appellate Panel of the Sixth Circuit (the “Court”) considered the issue of asset “abandonment” in a Chapter 7 case[1]. The Court reversed the bankruptcy court’s decision to allow the Chapter 7 trustee to compromise a claim that the debtor argued the trustee had abandoned. [1] In re: Wayne L. Wright, Docket No. 16-8019 (6th Cir. BAP, April 17, 2017).

In a recent decision, the Bankruptcy Appellate Panel of the Sixth Circuit (the “Court”) considered the issue of asset “abandonment” in a Chapter 7 case[1]. The Court reversed the bankruptcy court’s decision to allow the Chapter 7 trustee to compromise a claim that the debtor argued the trustee had abandoned. [1] In re: Wayne L. Wright, Docket No. 16-8019 (6th Cir. BAP, April 17, 2017).

It’s that time of year again: tax season. While the 2017 tax filing deadline has already passed, thousands of Californians who applied for extensions are still sorting through their financial paperwork. Some of them – perhaps yourself included – are probably wondering whether they can discharge (eliminate) income tax debts by filing for Chapter 7. This is a common bankruptcy question, but the answer can be complicated.

There is nothing in state or federal law that prohibits a California resident from filing for bankruptcy without an attorney, which is called “filing pro se” (“for oneself”). However, declaring bankruptcy without a lawyer exposes the debtor to grave legal and financial perils, particularly if the petitioner intends to file for Chapter 13 or Chapter 11, which are among the most technically complex forms of bankruptcy.

In our continuing posts about issues related to the decrease in the value of taxi medallions in New York City, this month we are covering two lawsuits regarding the dramatic drop in taxi medallion values. The first lawsuit involves two taxi medallion owners who have filed lawsuits against the New York City and the Taxi and Limousine Commission (“TLC”).

Chapter 13 is sometimes referred to as “reorganization” bankruptcy. That is because the core feature of Chapter 13 bankruptcy is a reorganization plan, which will last from three to five years depending on your disposable income, the nature of your debts, and other factors. Generally speaking, California debtors who file for Chapter 13 are able to keep their vehicles, provided they continue to make full and timely car payments throughout the duration of their reorganization plan. However, there are also some situations where a filer may be in danger of vehicle repossession.