One of the bedrock requirements of bankruptcy law is that any debtor filing for relief must make a complete and accurate disclosure of their financial affairs at the time of filing bankruptcy. This applies both to information provided on the required schedules and documents filed in a bankruptcy case and to answers to questions asked by the trustee assigned to … Read More
Credit Counseling Needed Before Filing Bankruptcy
In 2005, the United States Congress made significant amendments to the U.S. Bankruptcy Code with a new law called the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). One of the many changes to the law was the addition of a credit counseling requirement for all persons filing bankruptcy, specifically Chapter 7 bankruptcy or Chapter 13 bankruptcy. The credit counseling … Read More
Filing Bankruptcy with Tax Refunds
One of the biggest challenges facing debtors filing bankruptcy is coming up with the money to pay their filing and attorney fees. After all, if a person’s financial challenges are great enough to consider filing bankruptcy, the household budget is already pretty tight or in serious deficit. Most savings have already been exhausted by potential bankruptcy clients before they even … Read More
Chapter 13 Bankruptcy Cannot Modify Secured Debts on Mobile Homes
Changes in the law relating to titling of manufactured homes have recently been made in Missouri. This affects the way filing Chapter 13 bankruptcy alters or doesn’t alter your mobile home debt. 442.015.1 of the Missouri Revised Statutes now specifically state that “for the purpose of 11 U.S.C. § 1322 (b)(21), a manufactured home shall be deemed to be real … Read More
Chapter 13 Bankruptcy Filing Goes up in Smoke
A couple in Colorado who operate a marijuana business filed Chapter 13 bankruptcy proposing to pay their creditors with money earned through the sale of marijuana. While the state of Colorado has legalized the sale of marijuana it is still against Federal law. Because of this, the Bankruptcy Judge dismissed the couple’s case stating the Federal Bankruptcy Court cannot … Read More