The opinion filed July 12, 2011 is withdrawn and replaced with the accompanying opinion. See the July 12, 2011 opinion here. Because Jones’s tax debt arose more than three years before she filed her Chapter 7 bankruptcy petition, it would be discharged unless the lookback period was suspended by statute. The lookback period is suspended…Read more
Dropping Out to Pay for Student Loans
Student Loan Default Rates Increase
Below is the news from the U.S. Department of Education that the student loan default rates are on the rise. If you are struggling to pay your student loans back, you clearly aren’t alone. I get calls all the time from people wondering if I can help them get rid of their student loans. Unfortunately,…Read more
1st Circuit Bankruptcy Appellate Panel Decision – In re Sullivan (Lussier v. Sullivan)
Having a creditor show up at the meeting of creditors doesn’t happen often. When it does, it’s often an ex-spouse. Though Lussier and Sullivan were never married, it appears that their break up was contentious. This is a perfect example of why it doesn’t pay to lie on your petition. Brian J. Sullivan (the “Debtor”)…Read more
What Happens if I Have Written Checks That Have Not Cleared on the Day I File Bankruptcy?
I believe my job as a bankruptcy attorney is to help my clients take advantage of the primary purpose of the Bankruptcy Code: a new financial start. The best way I can do that is to make sure they keep as much property as the Code and the courts allow. To do that, I need…Read more
Are Crime Victim Reparation Proceeds Protected in Bankruptcy?
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
How to Avoid Bankruptcy – Finding Extra Cash
People who come in for a free consultation are always surprised to hear me say that I think that bankruptcy should be their option of last resort. Don’t get me wrong. I think that bankruptcy is one of the best and most powerful tools for people whose finances have gotten out of control and overwhelming. …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
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