Molleur Law Blog

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2009 Bankruptcy Filings Up

Posted on 01/04/2010 at 12:00 am | Viewed 795 times

According to a year-end report on the federal judiciary filed by Chief Justice Roberts, 1,402,816 bankruptcy cases were filed in 2009.  This number represents 35% more cases than were filed in 2008.  The most dramatic increases were seen in Chapter 7 (up 45%) and Chapter 12 (up 47%) case filings.  Of additional interest is that

Phantom Expenses on Means Test

Posted on 08/29/2009 at 12:00 am | Viewed 887 times

The First Circuit Court of Appeals, in In re Rudler,  recently ruled that above median income Chapter 7 debtors may take Means Test deductions for payments on debts secured by property that they intend to surrender.  This issue has been hotly contested around the country with the United States Trustee taking the position that the

Unlisted Debts Not Discharged

Posted on 05/11/2009 at 12:00 am | Viewed 752 times

The First Circuit Court of Appeals recently ruled that unlisted debts remain undischarged in a no asset Chapter 7 case, in Colonial Surety Company v. Weizman, decided May 6, 2009.  The First Circuit recognized that there was a difference of opinion on this issue in other circuit courts of appeal.  Maine Bankruptcy Judge Haines in the

First Circuit Allows Homestead Exemption

Posted on 04/05/2009 at 12:00 am | Viewed 648 times

The First Circuit, in Stornawaye Financial Corporation v. Hill (In re Hill), decided a matter of first impression when it determined that a debtor, who had fraudulently transferred real estate to his spouse, but later had the property re-conveyed back to him before filing bankruptcy was entitled to a homestead exemption in the

BAP Reverses Bankruptcy Court

Posted on 03/19/2009 at 12:00 am | Viewed 711 times

The First Circuit Bankruptcy Appellate Panel recently reversed a decision of the Maine Bankruptcy Court in the case of In re Lumb.  Lumb, represented by Joseph Goodman, Esq. of Portland, Maine, filed a Chapter 7 bankruptcy petition in 2001.  After filing, a creditor, Nahabet Cimenian, threatened to sue Lumb's wife if Lumb didn't pay

Debt Consolidation Programs: Bankruptcy Can be a Better Option

Posted on 03/08/2007 at 05:51 pm | Viewed 1,404 times

Bankruptcy Article #26

March, 2007

Many people struggle for years trying to complete debt consolidation programs rather than filing bankruptcy because they think a bankruptcy will ruin their credit forever. While a bankruptcy can appear on your credit report for up to ten years, there is no

Why Choose Chapter 13 Over Chapter 7?

Posted on 11/29/2006 at 05:31 pm | Viewed 3,283 times

Bankruptcy Article #12

The #1 reason for choosing Chapter 13 bankruptcy over chapter 7 is to save your home from foreclosure.

»See the List of Nine Reasons.

  • Who makes a good candidate for Chapter 13 Bankruptcy?
  • Nine Reasons to file for Chapter 13

Dischargeability of Taxes

Posted on 11/05/2006 at 05:23 pm | Viewed 1,147 times

Bankruptcy Article #7

In a Chapter 7 case, Section 523 of the Code determines which tax debts are non-dischargeable. Included are:

  1. Taxes entitled to priority under Section 507(a). See Section 523 (a) (1) (A).
  2. A tax due upon filing a return, but the return is not filed. Section 523(a) (1) (B)

Winners and Losers under BAPCPA

Posted on 09/14/2006 at 07:30 pm | Viewed 2,531 times

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 altered the relationship of debtors and creditors, and even altered the relationships between creditors.

Debtors are generally losers under this major revision of the Bankruptcy Code (initially adopted in 1978, and only minimally changed over the past 27 years, until

How to Correct Mistakes On Your Credit Report

Posted on 08/28/2006 at 05:12 pm | Viewed 1,103 times

Bankruptcy Article #3

Once someone successfully completes a bankruptcy, by receiving a bankruptcy discharge, it is usually necessary to check credit reports to make sure they accurately reflect the status of each former financial obligation. It makes sense to obtain these credit reports within 3 months after receiving the

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