Court Restitution And Bankruptcy While bankruptcy is a valuable tool for eliminating debt acquired from a variety of sources, the Bankruptcy Code prohibits the discharge of certain debts, including an obligation for restitution entered after a criminal conviction. The 10th Circuit Bankruptcy Appellate Panel (the “Panel”) recently issued an opinion in In Re Paul…Read more
Can I Ask the Bankruptcy Court to Waive My Filing Fees?
Under Section 1930(a) of Title 28 of the United States Code, a debtor whose income is less than 150% of the federal poverty level may ask the bankruptcy court to waive his filing fees in a Chapter 7 bankruptcy case.
Can I Pay My Bankruptcy Court Filing Fees in Installments?
Under Rule 1006(b) of the Federal Rules of Bankruptcy Procedure and Section 1930(a) of Title 28 of the United States Code, a debtor may apply to pay her bankruptcy filing fee over the course of 120 days.
What Are My Options if I Can’t Complete My Chapter 13 Bankruptcy Plan?
Sometimes, even the best laid plans go wrong. It isn’t unusual for a debtor to find himself unable to complete his Chapter 13 plan as it was originally proposed. Fortunately, the Bankruptcy Code offers some flexibility to deal with that possibility. If a debtor finds himself in that situation, he should consider one of the…Read more
What Are the Debt Limits for Chapter 13 Bankruptcy?
Bankruptcy Code Section 109(e) provides that: on the date of the filing of the petition, noncontingent, liquidated, unsecured debts of less than $360,475 and noncontingent, liquidated, secured debts of less than $1,081,400, or an individual with regular income and such individual’s spouse, except a stockbroker or a commodity broker, that owe, on the date of…Read more
What Happens to Property that I Have Pawned When I File Bankruptcy?
Generally speaking, property that has been pawned is not property of the bankruptcy estate, and therefore cannot be claimed by the trustee to sell for the benefit of creditors. Section 541(b)(8)(A) of the Bankruptcy Code states: any interest of the debtor in property where the debtor pledged or sold tangible personal property (other than securities…Read more
What Happens After the Meeting of Creditors in Bankruptcy?
After The Meeting Of Creditors, You’re Almost Done What happens after the meeting of creditors (sometimes called the 341 meeting) depends in large part on your specific case. However, in all cases, you must complete the financial management course, and your attorney must file a certificate of completion. The court will not enter a discharge…Read more
What is a “Cramdown” in Chapter 13 Bankruptcy?
When it comes to cars, I seem to have two kinds of clients: either they have older cars with modest value, or they have newer cars that are worth much less than the loans they are paying for them. The good news is that I have never had a client lose their car after they…Read more
Divorce and Overwhelming Debt
Among the life events that lead people to file bankruptcy, divorce is at, or near, the top of the list. It’s hardly surprising. Suddenly a household income is halved, yet expenses remain the same, or even increase. The Los Angeles Times has a great feature on how debt can overwhelm someone who finds herself going…Read more
How Do I Calculate the Value of My Car for Bankruptcy?
When your attorney prepares your bankruptcy petition, he or she will ask you for a list of all vehicles you own. Along with each car, you will have to list the value of the property, as required by the Bankruptcy Code. Bankruptcy Code Section 506 requires the use of the “replacement value as of the…Read more
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