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In the recent case of In re Glenn and Henry, WL 4035130 (Bankr. N.D. Okla. 7/1/15/), the bankruptcy court sustained the debtor’s objection to an amended claim filed by their mortgage lender. At the time they filed their Chapter 13 case, the debtors filed a plan which...
You may have filed bankruptcy before and told yourself, “I will NEVER do that again.” But then life happens and you lose a job or have a medical emergency, and you find yourself overwhelmed with debt and are considering filing bankruptcy again. Or, perhaps you...
In the recent case of In re Klass, 2015 WL 3537100 (Bankr. W.D. Pa. 6/4/15), the bankruptcy court ruled that the debtor could cure a default in her plan payment, even after the 60 month limit expired. In this case, the debtors were $1,123.00 behind in their plan...
Millionaire professional athletes have it easy, right? No money worries for the rest of their lives once they make it big, right? Well, as it turns out, former NFL players are just as likely as anybody else to file for bankruptcy—despite their millions. A recent study...
Two debt collectors, Jefferson Capital Systems LLC and Resurgent Capital Services were recently fined $1,000 for filing claims that they knew were beyond the statute of limitations to collect. The claims were filed in the Chapter 13 case of In the Matter of Sekema,...
Earlier this week, the White House announced a new initiative: The Student Aid Bill of Rights: Taking Action to Ensure Strong Consumer Protections for Student Loan Borrowers (http://tinyurl.com/qggwqdl). The fact sheet released by the White House indicates that “the...
When we think of “tools of the trade” we think of actual tools, such as hammers, nails, saws, etc. Under Maryland law a person is entitled to exempt from execution upon a judgment: “Wearing apparel, books, tools, instruments, or appliances, in an amount not to exceed...
For rock guitar players, there is nothing more in demand than a Dumble amplifier, known for its amazing tone. Fewer than 300 of the amplifiers exist, and the waiting list for a new one is at least a decade. Rock musician John Mayer placed his Dumble amplifier, which...
As a general rule, if a tax return was due to be filed more than three years from the date it was due, and the debtor filed the return more than two years ago, and the amount due was assessed more than 240 days before the bankruptcy case is filed, the tax debt will be...
In an unusual case in Illinois, Robinson v. Hagan (Case No. 13-cv-1239-SMY, S.D. Ill. 2014), a Chapter 7 debtor was permitted to keep a rare, first edition copy of The Book of Mormon from 1830, which was potentially worth tens of thousands of dollars. Normally, in a...