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Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

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Should a HELOC cover your college costs?

Thinking about using a home equity loan to cover your college costs? Consider the pros and cons.

More on Refinancing Plan

Chris Mayer, one of the authors of the refinancing plan, a version of which is currently being considered by the administration, wrote in to the comments on an earlier post, protesting my characterization of his proposal. I have no argument with

Debt Ceilings Make Chapter 13 Cram-Downs Difficult To Accomplish

People get excited about the prospect of cramming down mortgages on investment properties in a Chapter 13 bankruptcy. I received at least two calls this past week from people interested in using Chapter 13 to both strip a second mortgage...

Mokena Bankruptcy Attorney On The Role Of The Trustee

Link Many clients are confused by what the trustee does in a bankruptcy case. Oftentimes, they refer to the trustee as the judge, which is incorrect. The trustee is a court-appointed attorney or accountant whose responsibilities include verifying the

Beecher Bankruptcy Lawyer States Bankruptcy Is For The Honest But Unfortunate Debtor

Link Bankruptcy is a right guaranteed by the United States Constitution. As with many of our rights, it is predicated on the assumption that the citizens exercising it are law-abiding citizens who deserve its benefits. Bankruptcy relief is no

Waukegan Bankruptcy Lawyer’s Case Study For Mr. & Mrs. Vegas

Link This is the case study for Mr. & Mrs. Vegas who live in Waukegan, which is located in Lake County, IL. At this moment they are married and filing jointly. They own 2 properties and they are currently 8 months behind. They own 2 autos with liens

Court Finds Recharacterization of "Loans" Depends on State Law

The Fifth Circuit has upheld a Texas bankruptcy court's order recharacterizing the ostensible debt of a non-insider as equity. Matter of Lothian Oil Incorporated, No. 10-50683 (5th Cir. 8/9/11). Unlike other circuits to consider the issue, the Fifth

The Broke and the Beautiful: ‘You Gotta Lie!’ Edition

This week on The Broke and the Beautiful, “Real Housewives” invade the news, Stan Lee Media wants all the action on Conan the Barbarian, and Lenny Dykstra gets battered with indecent-exposure charges. Getty Images Teresa and Joe Giudice are

Imitation Is the Sincerest Form of Flattery

In May, we posted a three-part series (part I, part II, part III) on the legal quagmire surrounding Mortgage Electronic Registration Systems Inc. (“MERS”) entitled, “The MERS Morass.” Imagine our surprise when we came across an article in the

Extra Stern

For those of you on the West Coast and others who are not obssessing about the huricane, I give you some further thoughts on the Supreme Court's decision in Stern v. Marshall, this time in the context of the Inkeeper's chapter 11 case. Up now at

Hurricane Irene Results in Early Closure of Delaware Secretary of State

The Secretary of State Department of Corporations is closing at 12:00 EST as Delaware has declared a state of emergency due to hurricane Irene. Our office in Delaware will remain open until 2:00 PM EST (11:00 a.m. PST). Due to...

Why is VA's Mortgage Program Succeeding Where Others Fail?

One key reason is that the Department of Veteran Affairs is servicing the loans itself, instead of outsourcing it to others.

Salahi Winery Assets Hit the Auction Block

Associated Press Tareq and Michaele Salahi stop for a photo at a Super Bowl party hosted by Playboy magazine in Dallas. (AP Photo/Starpix, Dave Allocca) The fame-hungry Salahis were once thirsty for wine. But the success of a family-owned winery

“It Ain’t Over Till It’s Over”: Final Orders Appealable Under 28 U.S.C. § 158(d)

When is a judgment in a bankruptcy appeal final and, consequently, reviewable by a federal circuit court of appeals? Finality in bankruptcy litigation is often difficult to determine. Generally, and with the exception of the direct-appeal provisions

The Daily Docket: Appeals Court Reinstates Sanctions Against Foreclosure Law Firm

A federal appeals court has reinstated sanctions against a New Jersey law firm and attorney for attempting to foreclose on a suburban Philadelphia couple using “robo-produced” mortgage data that was fraught with errors. Read the Daily Bankruptcy

Buffalo Grove Bankruptcy Lawyer Dispenses Chapter 7 Advice

Link This case involves Mr. & Mrs. Vimatello who live in Buffalo Grove, IL, which is in Cook County, IL. They have never filed a bankruptcy before. They own 3 properties, the one they live in, with one mortgage that they are behind in their monthly

Your Government Prefers Chapter 13

Blog writer Katie Porter has written an interesting article about how the uscourts.gov website “promotes” Chapter 13 as a preferable choice for bankruptcy. Consumers doing their own research on bankruptcy might see this as some type of conspiracy

Protecting Yourself From Fraud Charges In Bankruptcy

Charges of fraud are becoming a popular creditor tactic now that the number of delinquencies and defaults are on the rise. If a creditor can convince the bankruptcy court that a debtor engaged in fraud, the debtor’s bankruptcy case can be dismissed

Will I Still Owe Some Debts After Bankruptcy?

Depending on the type of debt you owe, some debts might survive the bankruptcy discharge. In both Chapter 7 bankruptcy and Chapter 13 bankruptcy some unsecured debts may be discharged but secured and nondischargeable debts may still exist after your


Bankruptcy Tweets for August 2011 - Part II

All caught up... Below are my next 54 bankruptcy case tweets of August 2011 and 8 other tweets of general interest since my last post of August 24. RSS Feeds are also available. All my twitter posts are here (twitter) or here (blog). The chart from a