Blog
Disclosure of Information in Bankruptcy Cases
In bankruptcy filings, debtors are required to disclose a significant amount of detail regarding their financial position. The consequences of failing to make adequate disclosures can include denial of discharge, dismissal of the case, fines and even imprisonment. The different tools…
Valuation in Bankruptcy Cases
The strategy in valuing assets in bankruptcy can vary based on the circumstances. To determine the amount of a secured claim, fair market value is appropriate [e.g. NADA retail value for vehicles being stripped down]. However, in the context of…
Former Rental Property Ruled Debtors' Primary Residence
The United States Bankruptcy Court for the Eastern District of Michigan recently ruled in favor of a secured creditor’s Objection to Confirmation of the debtors’ Chapter 13 Plan in case 12-61616, Edward and Terry Kelley. The issue at stake regarded the…
Local Bankruptcy Judge Named Dean of Campbell Law School
Effective July 15, 2013 Bankruptcy Judge J. Rich Leonard of the Eastern District of North Carolina will be the Dean of Campbell University’s Normal Adrian Wiggins School of Law. “Judge Leonard’s wealth of experience in judicial leadership will prove tremendously beneficial…
Income Taxes for 2009
After April 15, 2013, debtors owing income tax obligations for tax year 2009 may be subject to discharge and/or be non-priority obligations as long as (1) the tax return was filed more than 2 years prior to the bankruptcy filing,…
Early Bankruptcy Acts
Did you know that bankruptcy was included in the United States Constitution? In Article 1, Section 8, the founding fathers gave Congress the authority to “uniform laws on the subject of bankruptcies throughout the United States.” Though Congress attempted several…
Are Post-Petition Homeowner’s Association Dues Dischargeable in Chapter 7?
Many chapter 7 debtors are unaware that Homeowner’s Association (HOA) dues occurring post-petition are not dischargeable in bankruptcy. According to Section 523(a)(16) of the Bankruptcy Code any “fee or assessment that becomes due and payable after the order for relief…
Are Property Taxes Dischargeable in Chapter 7?
Not all debt is created equal. We know this subjectively (who would you prefer to pay back, your mom or your credit card company?), and we know this objectively by reading the Bankruptcy code. Mortgage payments, car loans, tax debt,…
The Power of a Power of Attorney in Bankruptcy
It’s not uncommon for us to have consultations with family members who are concerned about a parent or sibling’s debt problems. Sometimes the parent or sibling is present for the consultation, sometimes they aren’t. What can cause difficulty sometimes is…
Results from the Fourth Circuit
We mentioned with pride some months ago that a case of ours was winding its way up the appellate chain. Granted, we would have preferred to have simply prevailed at the bankruptcy court level, but when Judge Leonard ruled against…
