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When Legal Matters Become Personal
On Tuesday, the Supreme Court of the United States heard arguments over whether a creditor who attempts to collect on a time barred (i.e. zombie) debt can face consequences for that, when the debtor files for bankruptcy. Bankruptcy is a system whereby a person can...
As expected, the Bankruptcy Appellate Panel (BAP) has followed its own precedent in determining property tax exemptions are not exempt as “government assistance based on need,” and I am appealing the issue to the 8th Circuit Court of Appeals. The BAP’s Opinion can be...
During the height of the great recession six or seven years ago, many of my clients with upside down mortgages opted to simply do what I referred to as the unofficial lien strip, whereby they simply did not make the second mortgage payments, with the hope that...
The 8th Circuit Bankruptcy Appellate Panel (BAP) heard oral arguments in the case of In re Sheri Hanson last week. I represent debtor Sheri Hanson, who is trying to claim an exemption to protect a $1,500 property tax refund, which the State of Minnesota accords to low...
A realtor will definitely tell you a short sale is better. But keep in mind that a realtor makes money by getting clients and selling houses. While there is nothing wrong with that, and I have nothing against realtors, realtors are trained to tell you this. And there...
Unless Congress acts to extend this, which I would consider unlikely in light of improving economy and Congress’ general inability to get things done, the HAMP loan modification program will sunset December 31, 2016. This program helped many people save their homes by...
Recently released census bureau figures show that the median income figures will increase for bankruptcy cases filed after November 1. These figures are typically adjusted every November and May. The median income is a function of household size, which is basically...
The means test is part of the 2005 bankruptcy Reform Act, which is a governmental budgeting formula for debtors whose household income is above the median in their respective state, to see if they qualify for chapter 7. About 80% of my clients are below the median...
Addiction is one of the recurring themes that I see causing people to require my services. It may be chemical dependency/addiction for prescription drugs, illegal drugs, alcoholism, gambling, or other addictions. The typical case I see, is someone who has sobered up,...
On July 1, the Democratic party released its draft platform, which includes the following statement: Democrats will restore the prior standard in bankruptcy law to allow borrowers with student loans (to) discharge their debts in bankruptcy as a measure of last resort....