It is basically true that a chapter 13 plan typically will have a monthly dollar amount which will last for the duration of the case. However, there are certain circumstances were a chapter 13 plan in bankruptcy can be modified. One such case would be where the debtor has fallen behind on his monthly plan+ Read More

The avoidance or "lien stripping" of "underwater" second or other junior liens has been much in the news lately since the U.S. Supreme Court's ruling in the Bank of America cases. The Court held that wholly underwater second or other junior mortgages are not avoidable in a chapter 7 bankruptcy case.

The avoidance or "lien stripping" of "underwater" second or other junior liens has been much in the news lately since the U.S. Supreme Court's ruling in the Bank of America cases. The Court held that wholly underwater second or other junior mortgages are not avoidable in a chapter 7 bankruptcy case.

The federal Fair Credit Reporting Act (FCRA) provides a consumer with certain rights regarding his file in the credit bureau. The FCRA was enacted to promote the accuracy, fairness, and privacy of information in the files of a credit bureau.

The federal Fair Credit Reporting Act (FCRA) provides a consumer with certain rights regarding his file in the credit bureau. The FCRA was enacted to promote the accuracy, fairness, and privacy of information in the files of a credit bureau.

Subpoenas Are Rare In Bankruptcy Subpoenas issued in consumer related bankruptcy cases are rare. They are usually issued by the United States Trustee pursuant to an investigation as to dischargeability. Although ordinary creditors do have the right to conduct 2004 examinations with court approval and subpoena documents, they often will not undergo the process because+ Read More

ASSET
EXEMPTION DESCRIPTION
LAW
IMPORTANT CASES & NOTES

Homestead
$60,000 of home equity. No more than 2 lots in City or Village, 160 acres farmland. Sales proceeds protected for 6 months.
§40-101, 40-111, 40-113
Must reside in the home on the date the bankruptcy is filed to claim exemption.

Acclaim Legal Services is proud to announce that long-time firm colleague, Attorney Kevin Carr, has joined our practice.  Attorney Carr is a seasoned veteran of debt resolution law.  He has over 35 years of experience and previously ran his own bankruptcy practice, Carr & Associates.  Attorney Carr will primarily manage Acclaim Legal Service’s (ALS) Dearborn […]

Original Plan When a chapter 13 bankruptcy case is filed, an original plan is also filed with the court. The original plan is put forward to notify creditors, the trustee, and the court as to how the debtor proposes to repay creditors over a three to five-year period. The original plan is not likely to+ Read More

Chapter 13 bankruptcy is often used to save a person's home or investment property  from foreclosure.