ASSUMPTION AND REJECTION OF LEASES
May 31, 2011
Section 365(a) of The Bankruptcy Code allows debtors to assume leases of personal property including automobile leases. When a debtor assumes a lease, they are stating that they wish to retain the prop...
See Full Guide
CAN I PAY TITHING TO MY CHURCH WHILE IN BANKRUPTCY?
May 31, 2011
Sections 707(b)(2) and 1325(b) of The Bankruptcy Code provide that debtors in bankruptcy may list tithing and other charitable contributions as a deduction when determining eligibility to file Chapter ...
See Full Guide
BANKRUPTCY: AVOIDING LIENS
May 31, 2011
In bankruptcy, debtors have the ability to avoid two types of liens, meaning they can remove the lien from the collateral and make the debt unsecured. A lien can be avoided if it impairs a debtors exem...
See Full Guide
THE 180-DAY RULE
May 31, 2011
When a person files bankruptcy, they have to disclose all of their assets. Exemptions can be applied to these assets in order to exempt them from the bankruptcy estate. In this way, debtors are able to...
See Full Guide
VOLUNTARY DISMISSAL OF CHAPTER 13 BANKRUPTCY CASES
May 31, 2011
The Bankruptcy Code allows debtors in Chapter 13 cases to voluntarily dismiss their bankruptcy case at any time. The ability to dismiss a case can be useful in many different situations. For example, w...
See Full Guide
CROSS-COLLATERALIZATION AND CREDIT UNIONS
May 31, 2011
In bankruptcy, debtors often wish to discharge their unsecured debt but keep their secured collateral. This is generally allowed in bankruptcy, but a practice commonly employed by credit unions makes ...
See Full Guide
BEFORE GETTING MARRIED YOU MAY WANT TO CONSULT A BANKRUPTCY ATTORNEY
May 31, 2011
Marriage can offer many financial benefits, including tax advantages, two incomes, and someone to share expenses. Unfortunately, getting married can cost you a great deal if you need to file bankruptcy...
See Full Guide
CAN I KEEP A CREDIT CARD WHILE IN CHAPTER 13 BANKRUPTCY?
May 31, 2011
I probably answer over a hundred questions for my clients each week. Unfortunately, my answers are often long, complicated or the oh-so-helpful it depends. Luckily, once in a while, I get a question li...
See Full Guide
SETOFFS AND WHY THE BANK WON'T GIVE YOU YOUR MONEY
May 31, 2011
When I meet with clients to prepare for their bankruptcy filing, one of the questions I ask is whether they have a bank account with a financial institution they owe money. If they do, I advise them to...
See Full Guide
STUDENT LOANS - AN UNSECURED DEBT YOU MAY WANT TO PAY IN YOUR BANKRUPTCY CASE
May 31, 2011
Student loans are a peculiar sort of debt in the context of a Chapter 13 bankruptcy case. They are unsecured which entitles them to low priority for repayment in Chapter 13 plans, yet they are nondisch...
See Full Guide