One of my primary concerns as a bankruptcy attorney is making sure that I protect every possible asset that my client has. Bankruptcy is a legitimate path to a new financial start, but the drafters of this important law understood that in order to ensure a new start debtors can’t be stripped of all their…Read more
8th Circuit Bankruptcy Appellate Panel Decision – In re: Keeley and Grabanski Land Partnership
The Bankruptcy Appellate Panel (“BAP”) held that the bankruptcy court did not did not clearly err by appointing a trustee in this Chapter 11 case in light of the allegations of fraud and misuse of property and debtors’ failure to move the case forward in a meaningful way; while not proven, the allegations against debtor…Read more
When Am I Under Bankruptcy Protection?
If you’re like most people who are thinking about bankruptcy, you have creditors breathing down your neck. Your phone is ringing constantly, and your mailbox is full of demand letters. If things have gotten beyond the manageable state, some of your creditors have gotten judgment and your paycheck is being garnished. Bankruptcy can stop all…Read more
Are Personal Injury Awards Protected in Bankruptcy?
Personal Injury Awards And Bankruptcy In Colorado When you file bankruptcy, all of your assets and property is divided into two categories: exempt or non-exempt. Exempt property is protected. The trustee cannot compel you to sell or surrender the property or use it to pay your creditors. Non-exempt property, as you might expect, is not…Read more
Can My Creditors Force Me Into Involuntary Bankruptcy?
What Is Involuntary Bankruptcy? While not common in personal bankruptcy for people with primarily consumer debt, the Bankruptcy Code does allow creditors to force individuals into Chapter 7 bankruptcy. Bankruptcy Code Section 303(b)(1) states that an involuntary case can be commenced against a person by the filing of a petition by “three or more entities,…Read more
6th Circuit Court of Appeals Bankruptcy Decision – In re: Dickson (Dickson v. Countrywide Home Loans)
Plaintiff-debtor Nancy E. Dickson filed a voluntary Chapter 13 bankruptcy petition on July 16, 2007, seeking to reorganize her debts. As a part of this process, Dickson successfully sought to avoid a lien on her manufactured home held by defendant-appellant Countrywide Home Loans (“Countrywide”). Countrywide appeals the judgment of the Bankruptcy Appellate Panel for the…Read more
8th Circuit Court of Appeals Bankruptcy Decision – In re: Qualia Clinical Service, Inc.
This case concerns the bankruptcy estate of Qualia Clinical Service, Inc. (“Qualia”). The estate’s Chapter 7 Trustee (“Trustee”) seeks to avoid as a preferential transfer a security interest recorded by one of Qualia’s creditors shortly before the bankruptcy petition. The bankruptcy court and the Bankruptcy Appellate Panel of this court (“BAP”) held the security interest…Read more
8th Circuit Bankruptcy Appellate Panel Decision – In re: Fisette (Fisette v. Keller)
The issue on appeal is whether the bankruptcy court may confirm the debtor’s plan which provides for the avoidance of two junior liens on the Debtor’s principal residence. In particular, the Bankruptcy Appellate Panel (the “BAP”) considered whether: (1) Bankruptcy Code Section 1322(b)(2) prevents a debtor from modifying the rights of junior lienholders of liens…Read more
How to Interview a Credit Counseling Company
If you have been doing your homework on personal bankruptcy, you know that before you file, you (and your spouse if you are filing together) must take a credit counseling class. You can find a list of providers here. Once you find an agency that has been approved for your state, you may want to…Read more
10th Circuit Bankruptcy Appellate Panel Decision – In re: Larry J. Erickson and Betty L. Moore (Unpublished)
The Chapter 7 trustee appeals the bankruptcy court’s order overruling his objection to a debtor’s claimed exemption of life insurance proceeds and denying his motion for turnover. Husband and wife Larry J. Erickson (“Erickson”) and Betty L. Moore (“Moore”) (collectively “Debtors”) filed a petition for Chapter 7 relief on March 30, 2010. At the time…Read more
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