Submitted by Anonymous (not verified) on Sun, 03/10/2013 - 23:59
Can you reinstate the automatic stay? No, but you can get the same protection through injunctive relief. Some background will help make this clearer.
The automatic stay goes into effect when a bankruptcy is filed, and it prevents all actions to collect on a pre-petition debt. There are only a few exceptions to the automatic stay, for example it doesn’t stop a criminal prosecution. For the average client, the automatic stay puts a full stop to all creditor harassment.
Submitted by Anonymous (not verified) on Fri, 03/08/2013 - 20:20
Today a prospective client asked me whether or not her filing bankruptcy would negatively affect her spouse. This is a common question. A spouse's bankruptcy will not affect the non-filing spouse in terms of credit. It will not have an adverse effect on the non-filing spouse's credit. However, there is a possibility that assets that were once only his or hers, could now be considered as joint assets, so possibly there could be an effect as to assets. Also, there are income limitations in bankruptcy, so the non-filing spouse's income does have be counted and accounted for in the spouse'
Submitted by Anonymous (not verified) on Thu, 03/07/2013 - 23:37
The Chapter 13 Discharge The bankruptcy law regarding the scope of the chapter 13 discharge is complex and has recently undergone major changes. Therefore, debtors should consult competent legal counsel prior to filing regarding the scope of the chapter 13 discharge.
Submitted by Anonymous (not verified) on Thu, 03/07/2013 - 23:26
The Chapter 13 Plan and Confirmation Hearing Unless the court grants an extension, the debtor must file a repayment plan with the petition or within 14 days after the petition is filed. A plan must be submitted for court approval and must provide for payments of fixed amounts to the trustee on a regular basis, typically monthly. The trustee then distributes the funds to creditors according to the terms of the plan, which may offer creditors less than full payment on their claims.
Submitted by Anonymous (not verified) on Thu, 03/07/2013 - 22:56
Chapter 13 Eligibility
Any individual, even if self-employed or operating an unincorporated business, is eligible for chapter 13 relief as long as the individual's unsecured debts are less than $360,475 and secured debts are less than $1,081,400. These amounts are adjusted periodically to reflect changes in the consumer price index. A corporation or partnership may not be a chapter 13 debtor.
Submitted by Anonymous (not verified) on Thu, 03/07/2013 - 22:49
Chapter 13 Bankruptcy A chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with a regular income to develop a plan to repay all or part of their debts.
Submitted by Anonymous (not verified) on Thu, 03/07/2013 - 02:05
In In re Pamela Persaud, case No. 12-43602-CEC, US Bankruptcy Court, EDNY, February 4, 2013 involved the Means Test, the presumption of abuse and what expenses can be deducted in calculating the Means Test. On Line 17 of the Means Test, the Debtor deducted $5,742.19 form the total monthly income as a "marital adjustment", which she claimed is income of her husband that was not regularly contributed for household expenses.