The Huffington Post has a story about a homeowner who fell for Bank of America’s mortgage modification bait and switch routine scored a small, but significant victory, when a small claims court awarded him $7,595. Facing a reduced income, the homeowner sought a loan modification under the Home Affordable Modification Program (“HAMP”) with the monolith…Read more
What are the Duties of a Trustee in a Chapter 7 Bankruptcy?
When your attorney files your Chapter 7 bankruptcy petition, a trustee will be assigned for your case. The trustee is a central character in your bankruptcy case. You will meet him or her at your meeting of creditors. Section 704(a) sets forth the following duties of the trustee: (1) collect and reduce to money the…Read more
2010 Record Year for Personal Bankruptcies
If you’re feeling the crunch of the economy, you are not alone. The number of consumer bankruptcies in 2010 was at a record high and 9% higher than 2009. Over 1.5 people filed personal bankruptcy in 2010. Ironically, the number of bankruptcies have increased every year since 2005, when new bankruptcy law went into effect. …Read more
How is Property from the Estate Distributed in a Chapter 7 Bankruptcy?
Most Chapter 7 bankruptcies in Colorado are filed as “no asset” cases. What that means is that there is no property in the estate that can be liquidated for distribution to creditors. In the event there is estate property which can be distributed, the Section 726(a) of Bankruptcy Code provides the sequence by which creditors…Read more
What Happens if I Move During My Bankruptcy?
If you move during your bankruptcy, it is important that you tell your attorney as soon as possible. Bankruptcy Rule of Procedure 4002(a)(5) requires your attorney to, “file a statement of any change of the debtor’s address.” If you fail to tell your attorney, you might miss important communications from your attorney or the bankruptcy…Read more
How Soon Does a Reaffirmation Agreement Have to be Filed with the Bankruptcy Court?
If you have decided to reaffirm any of your debts in bankruptcy, you must ensure that the reaffirmation agreement gets filed on time. Under Bankruptcy Rule 4008(a), a reaffirmation agreement, shall be filed no later than 60 days after the first date set for the meeting of creditors under § 341(a) of the Code. The…Read more
And the Foreclosure Crisis Just Keeps Coming…
I’m no soothsayer, but one thing you can be reasonably sure of is that the foreclosure crisis will continue to reveal itself in 2011 (holy smokes! 2011???). The Washington Post has an article about one of the “villains” in this story: Mortgage Electronic Registration Systems (“MERS”). MERS is a system which was supposed to make…Read more
What Happens if a Debtor Dies in the Middle of a Bankruptcy Case?
If a debtor passes away before his bankruptcy case is discharged, what happens next depends on whether he filed a Chapter 7 or Chapter 13 case. Bankruptcy Rule 1016 provides, Death or incompetency of the debtor shall not abate a liquidation case under chapter 7 of the Code. In such event the estate shall be…Read more
What Are Priority Debts in Bankruptcy?
When your attorney prepares bankruptcy petition, he will have to divide your debts into three different categories: secured debts, unsecured debts, and unsecured priority debts. Unsecured priority debts are generally non-dischargeable and will not be eliminated by bankruptcy. Examples of unsecured priority debts for consumers are domestic support obligations (e.g. child support, alimony), taxes, loans…Read more
What is Medical Bankruptcy?
Denver, Colorado Medical Bankruptcy Attorneys I get a lot of calls from people who want to know how they can file, “medical bankruptcy“. Bankruptcy is the most powerful tool there is to eliminate overwhelming medical debt, but there’s one thing you should know. You can’t file bankruptcy just to get rid of medical debt. You…Read more
- « Previous Page
- 1
- …
- 56
- 57
- 58
- 59
- 60
- …
- 71
- Next Page »