Minnesota State Bar Bankruptcy Section Consumer subcommittee on May 12, 2020

Tim will speak at a zoom CLE conference before the Minnesota State Bar Bankruptcy Section Consumer subcommittee on May 12 at 6:00 PM on the subject of chapter 13, including new trends on handling student loans, and new laws and policies in light…

Options for Chapter 13 Debtors 

Many people in an existing, confirmed chapter 13 plan have suffered a change of income, and have inquired about their options. Even debtors whose income has not been impacted have a few new options to consider.  When a chapter 13 debtor’s…

New Median Income Figures Go Into Effect April 1, 2020

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in bankruptcy cases filed after April 1, 2020. The median income is an important figure, as debtors below that figure are almost…
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New median income figures go into effect November 1, 2019

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in bankruptcy cases filed after November 1, 2019. The median income is an important figure, as debtors below that figure are…
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Veterans Exempt from Means Test

On Friday, the President signed the Honoring American Veterans in Extreme Need Act of 2019, which excludes from the calculation of monthly income, for purposes of the Bankruptcy Code's means test, certain benefits paid by the Department of Veterans…

Bankruptcy vs. Debt Settlement – Which is better?

https://www.youtube.com/watch?v=XEoETAnhoEc Almost everyone considering bankruptcy can and should consider debt settlement as a last ditch effort to avoid bankruptcy. Debt settlement can be preferable to bankruptcy in these types of circumstances: …

New median income figures go into effect May 1, 2019

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in bankruptcy cases filed after May 1, 2019. The median income is an important figure, as debtors below that figure are almost…
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Will I lose my wedding ring in bankruptcy?

https://youtu.be/MCJOJtcuvBE The quick answer is, I’ve never had a client lose their wedding ring. There are some interesting twists and angles to consider. The first concept to understand is exemptions. The wedding ring is exempt under…

Can I buy Christmas gifts before I file bankruptcy?

https://youtu.be/uEx7-1vZuEw Tis the season for a timely question. There are two things to watch out for: The first concept, if you file after the gift is given, concerns what are called fraudulent transactions, which could potentially invoke…
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Modifying your car loan in a chapter 13

https://youtu.be/t6bIboRjtfM My last two posts concerned options with a car in chapter 7, including the two most popular options, retain and pay/”ride through”, or reaffirmation. But in most cases, the terms of the loan remain the same.…