When you file a bankruptcy petition, an estate is created. Section 541(a) of the Bankruptcy Code states: (a)The commencement of a case under section 301, 302, or 303of this title creates an estate. Such estate is comprised of all the following property, wherever located and by whomever held: (1) Except as provided in subsections (b)…Read more
9th Circuit Bankruptcy Appellate Panel Decision – Howard Richard Veal, Jr.
In the first of these two related appeals, debtors and appellants Howard and Shelli Veal (the “Veals”) challenge the bankruptcy court’s order granting relief from the automatic stay under §362(d)1 to appellee Wells Fargo Bank, N.A., as Trustee for Option One Mortgage Loan Trust 2006-3, Asset-Backed Certificates Series 2006-3 (“Wells Fargo”). In the second appeal,…Read more
9th Circuit Bankruptcy Appellate Panel Decision – Edra D. Blixseth
The Bankruptcy Code requires an individual debtor in a chapter 7 case to undertake certain obligations with respect to personal property that secures a debt. A debtor must file a statement of intention indicating whether she intends to surrender or retain such property and must file and perform on her intention within a certain time…Read more
9th Circuit Bankruptcy Appellate Panel Decision – Jacqueline Susan Hill
(This is an interesting case that gives the history of “Certified Legal Document Preparers” in Arizona, which are exempt from Arizona’s unauthorized practice of law rules. Local bankruptcy rules cap the maximum that such people may charge for preparing a bankruptcy petition at $200. The CLDP in this case charged her client $250.) Appellant Claudia…Read more
What is the Penalty for a Creditor Who Violates the Automatic Stay in Bankruptcy?
One of the most powerful protections the Bankruptcy Code, if not the most powerful, is the automatic stay. Contained in Section 362 of the Bankruptcy Code, the automatic stay prohibits creditors from taking certain actions once your bankruptcy petition is filed. Section 362(a) states: Except as provided in subsection (b) of this section, a petition…Read more
10th Circuit Bankruptcy Appellate Panel Decision – Morris v. Kasparek (Not For Publication)
In the first appeal, Morris v. Kasparek (In re Kasparek), 426 B.R. 332 (10th Cir. BAP 2010) (“Kasparek I”), another panel of this Court reversed the bankruptcy court’s order denying the Trustee’s request to sell real property held in joint tenancy by Debtor Jonathon Kasparek (“Debtor” or “Jonathon”), his brother James Kasparek (“James”), and his…Read more
1st Circuit Bankruptcy Appellate Panel Decision – Correia v. Deutsche Bank National Trust Company
Paul R. Correia and Tammie L. Correia (the “Debtors”) appeal from the bankruptcy court’s decision awarding summary judgment to Deutsche Bank National Trust Company, as Trustee Under the Pooling and Servicing Agreement Series ITF INABS-2005-A (“Deutsche Bank”). The Debtors had initiated an adversary proceeding seeking to set aside Deutsche Bank’s post-petition foreclosure of their home.…Read more
1st Circuit Bankruptcy Appellate Panel Decision – Duby v. United States of America
The plaintiff-appellant / cross-appellee, Dorothy R. Duby (the “Debtor”), and the defendant-appellee / cross-appellant, United States of America, Department of Agriculture (the “USDA”), appeal from the bankruptcy court’s final judgment and order dated July 21, 2010, awarding the Debtor $11,848.50 for attorney’s fees for a violation of the automatic stay and $3,000.00 as a sanction…Read more
What Happens If I Don’t Attend the Meeting of Creditors?
Attending The Meeting Of Creditors In Colorado When you file bankruptcy, you must make at least one appearance in front of the trustee at the meeting of creditors. This meeting is not held in a courtroom, and the Bankruptcy Code specifically prohibits a judge from attending. Instead, the purpose of the meeting is two-fold. The…Read more
What Are the Chapter 7 Income Limits in Bankruptcy?
In order to determine if you can take advantage of the benefits and protections of Chapter 7 bankruptcy, your attorney must first determine two things. The first is that your income must be below the median income level for your state for your household size. This is the “median income” test. The median income levels…Read more
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