Here’s my nomination for the most useless bankruptcy form that has to be routinely submitted to a court during the course of a bankruptcy case: The “Chapter 7 Statement of Intention.” In a Chapter 7 case, this is where the debtor makes a declaration of what he proposes to do about his secured debts — […]
Author Archives: doug
Bankruptcy judge unearths useful exemptions for life insurance policies
You can lean a lot from reading the latest bankruptcy opinions. About bankruptcy law, to be sure, but often also about little explored areas of state laws. Take life insurance, for an example. Term life insurance — the kind that simply pays a benefit when someone dies. Except in the case of a suicide, of […]
Posted in Exemptions
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Big changes are ahead for New Hampshire bankruptcy court with judge and clerk slated to retire
The New Hampshire Bar News is reporting that the state’s only bankruptcy judge is planning to retire in March, 2013. Moreover, the clerk of court has announced that he too, will retire in November, 2012. The court will probably not be rudderless, however, as the First Circuit court in Boston, charged with hiring New England’s […]
Posted in Bankruptcy News
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Octomom files for bankruptcy — and her case is quickly dismissed
A couple of years ago, I wrote a tongue in cheek post here indicating that the “Octomom” — Nadya Suleman, a California mother of fourteen, including octuplets from fertility treatments, might soon be in bankruptcy court, as she was having trouble staying current on her mortgage. The prophecy came true in April 2012, when, faced […]
Posted in Bankruptcy News, Foreclosure
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Court rules that debtors can strip off liens with a Chapter 7 bankruptcy case
Consumers in Georgia and Florida got a big boost from the Eleventh Circuit Court of Appeals in Atlanta (left) recently, when that court became the first appellate level body to approve — and the first to even discuss — lien-stripping in Chapter 7 bankruptcy. The topic has caused controversy among bankruptcy judges for decades. The […]
Posted in Bankruptcy News, Chapter 7, Secured loans
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The Massachusetts bankruptcy court has been aggressively dismissing cases
Here’s a heads-up call for Massachusetts debtors who have filed a bankruptcy case recently, are thinking about filing pro se, and for other Massachusetts bankruptcy lawyers: The bankruptcy court has been very vigilant recently in dismissing cases the very first chance they get — especially when all the paperwork has not been filed on time. […]
Posted in Practical tips
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When consumer bankruptcy laws let you lower your car payments — and when they don’t
Is it really possible that filing a bankruptcy case could reduce your car or truck loan, in addition to any other benefits? The short answer is “yes, but.” Yes, but there are many restrictions that stand in the way of a debtor that wants to try this. First off, filing a Chapter 7 case won’t […]
Posted in Chapter 13, Secured loans
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Massachusetts bankruptcy court slices claim based on usury laws
Since bankruptcy lawyers work all day in the world of debt and shady loans, you would think they would come across violations of the usury laws, concerning illegally high interest rates, all the time. You would be wrong. For some reason, although millions of people file bankruptcy every year, invocations of state usury law is […]
Posted in Real estate, Secured loans
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Massachusetts bankruptcy court says vacation condo in Maine qualifies for homestead exemption
Here’s a twist that you don’t see everyday in the bankruptcy courts: a Massachusetts couple who filed a bankruptcy case were allowed claim a homestead exemption to protect their vacation condo in York Beach, Maine. Massachusetts bankruptcy judge Melvin Hoffman ruled that the federal homestead exemption — found at 11 USC section 522 (d) (1) […]
Posted in Exemptions, Real estate
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Kentucky Derby winner purchased by payday loan king
Sometimes the bad guys win one. It happened recently at the 138th running of the Kentucky Derby in Louisville. I’ll Have Another (left), a strapping 3 year old colt trained in California cam barreling down the stretch to grab the lead and the victory in the $2M dollar race. He was ridden by a 25 […]
Posted in Bankruptcy News, Just for fun
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