Category Archives: Important Terms

What Does Debt Relief Agency Mean?

Since the bankruptcy reform laws were passed in 2005 you will see a lot of lawyers stating that they are a “debt relief agency”.  Why is that so, and what does that mean?
Under 11 U.S.C. § 101 a debt relief agency is defined simply as “any person who provides any bankruptcy assistance to an assisted […]

Your Chapter 13 Plan Payments

I have seen statistics on the numbers of failed Chapter 13 cases and successful Chapter 13 cases.  The number one reason a debtor’s case is dismissed is for delinquent Chapter 13 plan payments.  In those cases, the debtor has been authorized to pay the Chapter 13 Trustee the Chapter 13 monthly plan payment.  Remember, a […]

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

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 […]

Bankruptcy Basics From The U.S. Courts

“Article I, Section 8, of the United States Constitution authorizes Congress to enact “uniform Laws on the subject of Bankruptcies.” Under this grant of authority, Congress enacted the “Bankruptcy Code” in 1978. The Bankruptcy Code, which is codified as title 11 of the United States Code, has been amended several times since its enactment. It […]

Cram Down In A New Light: What Does It Mean Under The New Law?

This article is limited to a cram down of an automobile, such as a car or truck in a Chapter 13 bankruptcy case.  The Bankruptcy Code in its current version has at least two statutes for Chapter 13 cram downs.   The first statute is 11 U.S.C. Section 506.  This section allows the debtor […]