I get a surprising number of questions about objecting to claims in a bankruptcy case: how? when? Too few bankruptcy attorneys are asking “why?“ The answer to the “why” question must be that objecting to the claim furthers the client’s objectives or prevents a negative outcome. Put another way, the cost of objecting must be […]
Labor Day Feel Like New Years?
Over at MoneyHealthCentral, where Jay and I write for consumers about money , I did a piece this morning on how Labor Day marks a transition in my mind about the year. It provokes resolutions about how life shall be going forward. The transition is largely in my head these days. My boys no longer […]
Lien Stripping in Chapter 20
A debtor’s right to strip off a wholly unsecured lien is not dependent on the debtor’s eligibility for a discharge, says the 8th Circuit BAP. Hurray for Chapter 20. Before 2005, a debtor was entitled to file Chapter 13 immediately following a Chapter 7 and address whatever debts had survived the 7. The 7 […]
Family, Friends And Chapter 13
The drafters of the 1978 Bankruptcy Code knew something about the lives of real people and some of the generally accepted people practices. They included two priceless provisions that allow debtors to protect co obligors with the debtor through the Chapter 13 plan. Co debtor Stay How often have our clients drawn on family or […]
Include Me Not
Proposed: the word “included” shall be stricken from the vocabulary of any bankruptcy lawyer. A relatively innocent question from a young lawyer set me off (again). The car, driven and paid for by an offspring, was titled to the prospective debtor who was the only borrower on the loan. The lawyer asked how to avoid […]
The Chapter 13 Plan Light Bulb Moment
Do I have to cure the arrears on the car loan and pay off the claim secured by the car, came the email from the young bankruptcy lawyer. No: when you pay the claim in a Chapter 13 plan, the arrears on a car loan are not a separate element for payment. I knew the […]
How To Learn The Truth Behind The Asset
When credit is a commodity, family are friends, and creditors are not, strange things happen. Trouble is, our clients don’t think the happenings are strange. Bankruptcy lawyers end up moving lots of “stuff” to get to the real story. Street law Arkansas bankruptcy lawyer Kathy Cruz uses the marvelous phrase “generally accepted people practices” […]
