In 2005, The Bankruptcy Code was revised, making it more difficult and sometimes impossible for many debtors to obtain relief under Chapter 7 of The Bankruptcy Code. Disabled veterans were excepted from some of the new eligibility requirements that affected most debtors. If you are a disabled veteran who became disabled while serving your country, […]
THE BANKRUPTCY ESTATE
When a debtor files bankruptcy, an estate is created. The estate includes all of the person’s legal and equitable interests in property at the commencement of the case, and may also include any property the debtor becomes entitled to during the 180 day period following the filing of the bankruptcy case. However, debtors can exempt […]
THE TROUBLE WITH LOAN MODIFICATIONS
A quick search of the internet will show that loan modification programs have been generally unsuccessful. In my practice as a bankruptcy attorney, I encounter debtors every day who are trying to save their home through a loan modification. After months of submitting and resubmitting documents, jumping through one hoop after another, they are usually […]
THINGS NOT TO DO IF YOU THINK YOU MIGHT FILE BANKRUPTCY (PART 2)
I recently wrote an article about what not to do if you think you might file bankruptcy. About halfway through the article I realized that there is a lot of information on this topic, so I divided it into two parts. The following list consists of what not to do if you intend to file […]
UTILITY SERVICES AFTER FILING BANKRUPTCY
My clients often ask me if their utilities will be cut off after unpaid bills to these companies are discharged in bankruptcy. For most of us, loss of electricity and water services would be devastating. This issue is addressed in section 366 of the Bankruptcy Code. Utilities “may not alter, refuse, or discontinue service to, […]