These two very similar sounding terms have very different meanings. The term joint debtor describes the second person listed on a bankruptcy petition when a married couple files bankruptcy. The first person listed on a bankruptcy petition is the debtor. There is no rule in the Bankruptcy Code that states either the husband or wife […]
Bankruptcy Saved My Marriage!
During my time as a bankruptcy attorney, on about a dozen occasions clients have told me that filing bankruptcy saved their marriage. I understand exactly how they feel. Most of us are stressed about money, whether the source is credit card debt, student loans, medical bills or a loan on a car we can’t quite […]
BANKRUPTCY: SCHWAB V. RILEY – WHAT EXACTLY ARE WE EXEMPTING?
Bankruptcy law doesn’t seem to get much attention from the Supreme Court. So on June 17, 2010 when the Supreme Court decided Schwab v. Reilly, bankruptcy attorneys, judges, and trustees paid close attention to the Court’s holding, which explained what debtors are protecting when they claim an exemption in bankruptcy. 130 S.Ct. 2652 (2010). In […]
BANKRUPTCY: VICARIOUS LIABILITY DOES NOT APPLY TO § 523(a)(9)
As a bankruptcy attorney I have focused my practice on a specific type of legal practice. I don’t know much about drafting a will, litigating a lawsuit, or defending a criminal action, but I know a lot about consumer bankruptcy. Similarly, in my experience I have found that attorneys practicing other types of law know […]
BANKRUPTCY: WHAT IS A 341 MEETING?
A 341 meeting, also known as a creditor’s meeting, is presided over by the United States Trustee, and allows creditors and the trustee an opportunity to question debtors about the schedules and statements filed in their bankruptcy case. This meeting is required under 11 U.S.C. § 341 of the Bankruptcy Code, hence the name. Creditors […]