Archive for June, 2008
The Difference Between an Attorney and a Lawyer
Sunday, June 29th, 2008This isn’t specifically a bankruptcy-related posting, but something I’ve always found curious. Interesting thought: Is there a difference between a lawyer and an attorney? According to wisegeek.com: “Generally speaking, an attorney, or attorney-at-law, is a person who is a member of the legal profession. An attorney is qualified and licensed to represent a client in [...]
How Much Will This Chapter 13 Cost You?
Saturday, June 28th, 2008I often get asked this important question by concerned potential clients. It is very difficult, if not impossible, to answer how much the attorneys fees for any bankruptcy will be before having a consultation and getting all the relevant information. It’s even more difficult to do in a Chapter 13 bankruptcy case. Why? Let’s say [...]
Ninth Circuit Rules that Means Test Controls Chapter 13 Plan Length and Payment
Friday, June 27th, 2008Earlier this month, the Ninth Circuit Court of Appeals in Maney v. Kagenveama (In re Kagenveama), 527 F.3d 990 (9th Cir. June 2008) held that where an above-median chapter 13 debtor has negative “disposable income” per the means test but a monthly surplus per schedules I and J, the debtor is NOT required to propose [...]
Can You File Bankruptcy If You Live Outside the USA?
Friday, June 27th, 2008Over the years I have had many clients who live outside the United States of America that need to file bankruptcy here. This is a tricky and, to the courts and many trustees, a confusing proposition, but I assure you that if you meet the requirements, it is perfectly legal. A full legal treatment of [...]
Bankruptcy Can Remove Liens Against Your Home
Wednesday, June 25th, 2008Under certain circumstances, in California, junior liens (deeds of trust) can be removed from your home in a Chapter 13 bankruptcy case. This is known as “lien-stripping.” The way it works is: If the fair market value of your home is less than the amount owed on your first mortgage, you can lien strip (remove) [...]
Credit Card Interest Rates Causing Bankruptcy
Tuesday, June 24th, 2008One of the most common triggers for today’s bankruptcy filings results from people having significant credit card debt that they are barely able to make the minimum payments on. Everything goes along fine for months, maybe years, until suddenly–and frequently unexpectedly–the interest rates on their credit card(s) jumps from a very low (or zero) interest [...]
Bankruptcy and the Elderly
Monday, June 23rd, 2008Bankruptcy and the elderly (senior citizens) is not a new topic, but one that is gaining increasing notoriety as more and more senior citizens need to seek protection and relief with the bankruptcy laws. It may seem odd to seek a “fresh start” in bankruptcy during one’s later years, but it is certainly nothing to [...]