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Bankruptcy

The Debt Podcast

Hosted by Jay S. Fleischman, a bankruptcy and consumer lawyer located in New York City. Information and news designed to help you learn more about bankruptcy, debt relief, and consumer credit options.

Post Frequency: 4.9/day

Last Entry: November 23, 2010 at 18:33:08

America is being abandoned by Washington, D.C.

Posted on September 25, 2008
Save Wall Street . . . Forget Main Street. That is basically what Republicans and Democrats are doing this week as they decide to provide the biggest bailout in he history of the world. The problem with this economy started with the housing crisis and continues to be the housing crisis...

IRS and Bankruptcy

Posted on September 25, 2008
Sometimes people forget that life in general still continues while you are in bankruptcy. This includes the fact that you must file your tax returns on time just like any other year. I am sure you have heard the phrase, there is nothing certain but death and taxes...

Can I sell My Home While I Am In A Chapter 13?

Posted on September 24, 2008
You are allowed to sell your home while you are in a Chapter 13. Be sure to contact your attorney and let him know what you want to do. You will be required to submit a signed Contract of Sale. Your attorney will then file a Motion to Sell with the court and put [...

Dear Congress: Homeowners Need Help, Too!

Posted on September 24, 2008
As a constituent and bankruptcy attorney working to help families in our community save their home from foreclosure, I urge you to include court-supervised mortgage restructuring for financially distressed American homeowners in any package you approve to bail out Wall Street...

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Replacing a Bad Check Could Be ?New Value?

Posted on September 24, 2008
When a check bounces, making good on it is normally just paying off a debt owed. If that happens during the 90-days before a bankruptcy is filed, it would be an avoidable preference. But if a lender plays its cards right, it may be able to protect itself after all...

Say No To The Bailout And Let The Financial Industry File Bankruptcy Part I

Posted on September 22, 2008
As an American Citizen and a Bankruptcy Attorney, I am torn on the bailout issue. As am American Citizen, I am outraged that our Government let this happen and did nothing for the last year and a half, and now they are making the case of global disaster if something isn’t done immediately...

Sign Language Interpreters for Deaf or Hearing Impaired Clients: It?s Worth the Expense

Posted on September 22, 2008
The Americans with Disabilities Act (ADA), 28 U.S.C. sections 12181 - 12183, the federal regulations implementing the ADA, 36 C.F.R. 36.104 et seq., and the U.S. Department of Justice regulations relating to lawyers and the ADA, 56 Fed.Reg. 35567, address a lawyer’s obligation to provide a sign language interpreter for a deaf client at the [...

Do I Have To Turn In My Income Tax Refund To The Chapter 13 Trustee Every Year that I Am In Bankruptcy?

Posted on September 22, 2008
Each year that you are in a Chapter 13 bankruptcy you are required to turn in a copy of your income tax return to your Trustee. Whether you must turn over the return to the Chapter 13 Trustee depends on your Trustee. In the Northern District of New York in the Utica and Syracuse [...

Can The RFDCPA Apply To Proof Of Claims?

Posted on September 22, 2008
This week our firm had oral arguments in an appeal of first impression in the Ninth Circuit Bankruptcy Appellate Panel. The appeal concerns whether other federal laws may be used in the bankruptcy claims process, or whether the Bankruptcy Code offers the sole remedy...

Chapter 11 Bankruptcy Basics Part III

Posted on September 22, 2008
In Part 2 of Chapter 11 Bankruptcy Basics, I talked about some of the basics of Chapter 11 Plans and what a Chapter 11 can do and not do. This series concludes with a discussion of fees and choosing a good Chapter 11 lawyer. Is Chapter 11 expensive? Yes...

Attorney-Client Privilege in Bankruptcy Cases

Posted on September 22, 2008
The attorney-client privilege is a rule of evidence which prevents a client from being forced to reveal the content of confidential communications with his or her attorney. The scope of this evidentiary rule is normally determined by common law, and it varies from state to state, and from district to district in federal court cases, [...

Chapter 11 Bankruptcy Basics Part II

Posted on September 22, 2008
In Part 1 of Chapter 11 Bankruptcy Basics, I answered some of the basic questions about what a Chapter 11 is. This series continues with a discussion of some of the things that a Chapter 11 can do. Why would I want to file Chapter 11? Generally speaking, my Chapter 11 clients fall into three categories...

Chapter 11 Bankruptcy Basics, Part 1

Posted on September 22, 2008
In recent years, more and more individuals and businesses are filing for relief under Chapter 11 of the Bankruptcy Code. This blog (and the ones that follow) will answer some basic questions and provide information about Chapter 11. What is Chapter 11? Can?t get more basic than this! A Chapter 11 is simply a bankruptcy case [...

Is a Bankruptcy Lawyer Required to Investigate the Facts Contained in a Bankruptcy Petition?

Posted on September 22, 2008
Sections 707(b)(4)(C) and 707(b)(4)(D) of the bankruptcy code, as amended by the 2005 Bankruptcy Reform Act, provide as follows: (C) The signature of an attorney on a petition, pleading, or written motion shall constitute a certification that the attorney has– (i) performed a reasonable investigation into the circumstances that gave rise to the petition, pleading, or written [...

ALERT! Scam Targeted Towards Some Bankruptcy Debtors

Posted on September 22, 2008
ALERT! It has been reported that some Chapter 13 debtors have received letters from the “Chapter 13 Trustee” telling them to sign over their home to the Trustee and to call an 1-800 number. If you have received this letter, it is a scam being pulled on unsuspecting Chapter 13 debtors...

What Happens If I Get a Large Amount Of Money While In A Chapter 13 Bankruptcy?

Posted on September 22, 2008
Sometimes when you are in a Chapter 13 you learn that you are going to get some extra, out of the ordinary money. Sometimes it is from a bonus at work, or a lump sum settlement on a Social Security Disability or Workers Compensation case. Or it could be an inheritance or a personal injury [...

Bank Accounts: Some Things to Consider When Filing Personal Bankruptcy

Posted on April 24, 2008
When filing a personal chapter 7 or chapter 13 bankruptcy, most debtors are concerned about the effect the bankruptcy filing might have on their checking and savings accounts. After all, many debtors have banked at the same institution for years, and they do not want to have this banking relationship disrupted...

Bankruptcy laws are an American strength

Posted on April 24, 2008
The Week magazine reported that annually, 10,000 Indian farmers kill themselves because they can’t pay their debts. What kind of bankruptcy is available in India, I asked myself. Short answer, after 10 minutes of internet search, I don’t know...

Means Test Property Tax Arrears: Is Double Dipping Allowed on Lines 43 and 44?

Posted on April 21, 2008
In a consumer bankruptcy, the financial analysis contained on the means test form (Form B22A in chapter 7, Form B22C in chapter 13) can mean the difference between success and failure. In a close case, it may be necessary to take every possible deduction, to avoid having the means test show that the debtor has [...

Can/Should I file blank bankruptcy forms and schedules?

Posted on April 21, 2008
Absolutely NO!!!! I recently had a client ask me if he could come in and sign blank forms as he didn’t have the time to come in to review his schedules before I filed them with the court. I told him in no uncertain terms that I would not allow him to sign [...

Can my bankruptcy discharge be revoked?

Posted on April 21, 2008
The Bankruptcy Code (11 U.S.C. Section 727(12(e)) permits an interested party to seek revocation of a debtor’s discharge if it can be shown that the debtor obtained the discharge by fraud and that fraud was not known to the requesting party until after the discharge was granted...

Getting Credit Cards after Bankruptcy

Posted on April 21, 2008
Most, if not all, of my clients tell me they don’t ever want another credit card. I just laugh and tell them they will want one in a few months because that is what society has taught us. Besides you need one to rent a car, make hotel reservations, and the like...

What is the Statement of Intention in a Chapter 7?

Posted on April 21, 2008
A Statement of Intention is required to be filed in Chapter 7 cases. It is not required in Chapter 13 cases. The Statement of Intention is a form completed by the debtor that advises the court, the Trustee, and your creditors what you intend to do with your secured collateral such as your [...

The Real Party in Interest and Motions for Relief From the Automatic Stay

Posted on April 20, 2008
A recent bench decision by Maryland Bankruptcy Court Judge Thomas J. Catliota was an important ruling regarding the real party in interest requirement of FRBP 7017. Americredit Financial Services, Inc., an auto loan servicer, filed a MLS in its own name...

Can Filing Fees for Filing Bankruptcy Be Waived?

Posted on April 20, 2008
The 2005 amendments to the Bankruptcy Code added 28 U.S.C. Section 1930(f)(1) which provides for the waiver of Chapter 7 filing fees. This provision is implemented through Bankruptcy Rule 1006(c). However, a debtor’s application requesting a fee waiver must be filed along with the voluntary bankruptcy petition...

Serial Filings by Debtor Without Lawyer End in No Discharge of Two Debts

Posted on April 20, 2008
A Kansas debtor can NEVER discharge debts to two objecting creditors, according to a recent decision by Judge Dale L. Somers in In Re Lina Buchanan Guebert, Case No. 07-41165, D.Kan. Bankr. April 2008. The harsh order was the result of a long history of at least 12 bankruptcy cases in 12 years by Guebert...

Emergency Bankruptcy Filings

Posted on April 20, 2008
Sometimes a person needs to file bankruptcy right away to stop a foreclosure, repossession, eviction, execution sale, tax levy, or utility shut-off. The Bankruptcy Rules allow the debtor to initiate a bankruptcy case by filing only the three page petition...

Public Access To Claims Now Denied!

Posted on April 20, 2008
Many creditors have been improperly publishing confidential information about debtors in proof of claims in response to chapter 13 cases over the years. Recently, many debtors’ attorneys have been moving the Bankruptcy Court to restrict this information...

Maybe Ride-Through Will Relive?

Posted on April 20, 2008
Recently, the Bankruptcy Appellate Panel ruled that ride-through no longer existed in light of the recent changes to the Bankruptcy Code under BAPCPA. Nevertheless, they entirely ignored my 11 USC 365(e) argument and its presently before the Ninth Circuit Court of Appeals...

Judge Hillman Says No to Balloon Plans in Massachusetts

Posted on April 19, 2008
Massachusetts Bankruptcy Judge Hillman decided sua sponte to deny confirmation of a Chapter 13 plan with a balloon payment. See In re Melillo, 2008 WL 987095 (Bkrtcy.D.Mass. 2008). The debtor in the case had proposed a plan to cure arrears by making small periodic payments followed by a larger balloon payment...

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