General
Bankruptcy May Help With a Driver License Problem Related to Unpaid Debt
In North Carolina and many other states, driving without proof of insurance and not paying traffic violation fines can lead to a suspended drivers license. Perez v. Campbell, a 1971 case decided by the U.S. Supreme Court, stated that if...
What Good is a State Court Judgment in Bankruptcy?
In a bankruptcy case, certain kinds of debts are not discharged. Recent tax liability, most student loans, and domestic support obligations are some of the most common examples of non-dischargeable debts. Other kinds of non-dischargeable debts are determined by very fact-specific examinations...
The Importance of Disclosing Transfers
The bankruptcy forms require that the debtor list all property, other than property transferred in the ordinary course of business or financial affairs of the debtor, transferred either absolutely or as security within two years immediately preceding the commencement of...
U.S. Supreme Court Rules to Protect Debtor's Exemption
A recent case before the Supreme Court addressed the fear of many debtors contemplating bankruptcy: what if all my property is taken away from me and I have nothing left to live on? Personal bankruptcy offers debtors the opportunity to...
EDNC Case on Whether Unauthorized Charges are Consumer in Nature
Eastern District of North Carolina Chief Judge Randy Doub issued an opinion on February 20, 2014 in a case where the debtor attempted to argue that certain debts were primarily non-consumer in nature. The debtor argued that the debts were...
Auto Loan Delinquency Increasing at An Alarming Rate
More people holding auto loans are behind in their payments, leading some to question whether rising auto loan delinquency is an economic indicator and others to suggest poor lending practices are to blame. According to Bloomberg News, the number of...
Currency in the Bankruptcy Context
For most debtors who are filing bankruptcy, there is no benefit to holding currency versus holding funds in a bank account. All assets, regardless of form or location, must be disclosed on the bankruptcy schedules. In that sense, currency in...
Imputation of Fraud Between Spouses
If the benefits of bankruptcy are designed to flow to the “honest but unfortunate debtor”, what, then, of the dishonest debtor? We sometimes encounter creditors who believe that any breach of a contract is evidence of dishonesty on the debtor’s part, but...
The Dangers of Homemade Estate Planning
There are a lot of things that are better homemade. Bannan pudding comes to mind, here. And Christmas tree ornaments. But when it comes to planning how a family member’s assets will be distributed after their death, it’s really best...
Abraham Lincoln, Bankruptcy Attorney
Before becoming our nation’s sixteenth president, Abraham Lincoln was a practicing attorney in the state of Illinois. A self-educated lawyer, Lincoln began his career as an attorney during The Panic of 1837, a time of extreme financial crisis in the...
