August 2016

Simply by filing a bankruptcy petition, a debtor brings to his or her aid an instrument of awesome breadth and power – the bankruptcy code’s automatic stay. Few other legal steps that may be taken on behalf of a consumer can bring about relief so simply, so effectively, and so dramatically. The stay provisions of […]

The main purpose of the automatic stays to protect the debtor and to give them a little breathing room. As stated in a report from the House of Representatives on the bankruptcy code the automatic stay is intended as follows: The automatic stay is one of the fundamental debtor protections provided by the bankruptcy laws. […]

Chapter 7 Bankruptcy When people think of bankruptcy, they think of the type of bankruptcy provided for in chapter 7 of the code, a liquidation proceeding sometimes called straight bankruptcy. This type of bankruptcy has by far been the most popular type of proceeding for individuals. Although the percentage of debtor’s choosing chapter 7 has […]

Social Security Overpayments The Social Security Administration is the agency that processes payments for disability and retirement benefits. You can imagine the vast amount of payments that are handled, both in number and amount. Do to the enormous volume of payments, sometimes mistakes are made. Often, these mistakes are actually overpayments to the recipients, usually […]

Many times when a debtor does not sign a reaffirmation agreement for a mortgage in a Chapter 7 bankruptcy, the creditor will not repossess the property as long as the debtor continues to make payments. Some lenders even make it a habit not to sign reaffirmation agreements. However, the creditor will cease sending monthly billing […]

Individuals and businesses use bankruptcy as a way to obtain relief from debts owed to creditors. The United States Constitution authorizes Congress to pass uniform laws on bankruptcy. Laws governing bankruptcy have existed since the early 1800s. The Bankruptcy Code (Title 11 of the United States Code), enacted in 1978, has been amended several times, […]

11 USC 101(10A) “Current Monthly Income” So you have been reading all over the internet that you need to be below a certain income to “qualify” for a Chapter 7 Bankruptcy. That amount varies for family size, and from state to state. And, in Ohio, those median amounts recently changed. Here is how the bankruptcy […]