Category Archives: Bankruptcy Trends

The Legal Professional: US bankruptcies rise in 2009

Mar10

Source: Credit and CollectionNews.com
(The Legal Professional)
Wednesday 10 March 2010
The USA lumps all kinds of insolvency proceedings under the single heading of “bankruptcy” and so its headline figures are misleading. But behind the headline figure - that there was a near-30% increase in 2009 as against 2008, there are some trends that indicate a deep malaise […]

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Filed under Bankruptcy Trends, Uncategorized

Day 1 Filing Chapter 13 - Stopping the Foreclosure And Repossession

May13

Individuals file Chapter 13 Bankruptcy for one or more reasons or a combination of factors.  The higher percentage of individuals I have represented file Chapter 13 to stop a foreclosure sale by their mortgage company.  Foreclosure sale proceedings are initiated by the mortgagee because the debtors were delinquent on payments to their mortgage company.  Another […]

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Filed under Automatic Stay, Bankruptcy Basics, Bankruptcy Code, Bankruptcy Courts, Bankruptcy Trends, Chapter 13 Bankruptcy, Chapter 13 Plans, Helpful Information

Ground Zero Nowhere To Go But Up: Means Testing, Bankruptcy Definitions - Debtor & Fresh Start, Reorganization Plan and Debt Relief Agency

May08

First, we will start at the legal beginning, the United States Constitution. Article I, Section 8, of the United States Constitution authorizes Congress to enact “uniform Laws on the subject of Bankruptcies.” Next, we had different bankruptcy acts, until 1978 when Congress enacted the uniform Bankruptcy Code in 1978. The Bankruptcy Code […]

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Filed under Automatic Stay, Bankruptcy Basics, Bankruptcy Code, Bankruptcy Trends, Chapter 11, Chapter 13 Bankruptcy, Chapter 13 Plans, Chapter 7 Bankruptcy, Important Terms, Plan Payments

U.S. Senate Votes Against Mortgage Modification Cramdown

Apr30

April 30, 2009 by senatus Senators have defeated an amendment offered by Senator Dick Durbin (D-IL) to the Helping Families Save Their Homes Act (S. 896) by a vote of 45 to 51. It was subject to a 60-vote threshold. This is the so-called “cramdown” amendment which would allow bankruptcy judges to modify mortgage […]

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Filed under Bankruptcy Code, Bankruptcy Trends, Chapter 13 Bankruptcy, Chapter 13 Plans, Chapter 7 Bankruptcy, Debt Collection, Housing Crises, Interest, Of Interest, Plan Payments, The Economy, Uncategorized

Why File Chapter 13? Does Filing Bankruptcy Stop The Harassment?

Apr18

First and foremost in most people’s minds is they want peace of mind.  Yes, the filing of a bankruptcy case will stop the creditors’ harassment.  If creditors continue harassing the debtor after his or her bankruptcy case is filed, the creditor can be sued in bankruptcy court for money damages.  Most good people need to […]

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Filed under Automatic Stay, Bankruptcy Code, Bankruptcy Trends, Chapter 13 Bankruptcy, Debt Collection, Housing Crises, Plan Payments, Uncategorized