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IRA/Retirement Exemptions

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Bankruptcy ArticleRousey v. Jacoway, U.S. Supreme Court.
Decision dated April 4,  2005The Supreme Court determined that in individual’s IRA was exempt  under federal exemption laws when that individual files bankruptcy.  Before this decision, most courts had concluded that IRAs were available  ...
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Reorganization of a Business

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Process for Filing for Bankruptcy

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To file a Chapter 7 bankruptcy, a person must file a bankruptcy petition schedule, statement of financial affairs, statement of intention, and creditor mailing matrix. The filing of the bankruptcy petition instantly causes the "automatic stay" (11 U.S.C. Section 362Ca) to become effective. The ...
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Resolution of Motion for Relief Doesn't Prohibit Re-filing

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The Maine Bankruptcy Court recently ruled that a debtor may voluntarily dismiss a Chapter 13 case after a motion for relief from stay is filed by a creditor, but at a time when the motion is not longer pending, and then re-file a new Chapter 13 case without the re-filing prohibitions of Section 109(...
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Loan Modifications in Chapter 13

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Mortgage companies understand that they need to be more reasonable with borrowers in financial trouble.  Many mortgage companies are willing to agree to loan modifications which alter the interest rate of loans and incorporating missed mortgage payments into the mortgage loan, provided that the ...
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Stark Succeeds in Class Action Litigation

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Andrea Stark, working with the law firm of Roddy and Klein, in Boston Massachusetts, recently succeeded in defeating a motion to dismiss a class action lawsuit filed on behalf of debtors refinancing their homes who were overcharged by title insurance companies for title insurance.  The case of ...
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The Trouble With Loan Modifications....

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The majority of our clients have a great amount of difficulty trying to work with their mortgage servicers to determine whether or not they qualify for a loan modification.  They are shuffled from one department to another, told contradictory information, and after submitting their information have ...
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Molleur admitted to US Supreme Court

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On January 25,2010, James Molleur was admitted to the Bar of the United Stated Supreme Court in a ceremony in the Supreme Court courtroom in Washington DC. The admission was coordinated with the admission of over 30 attorneys from the National Association of Consumer Bankruptcy Attorneys (NACBA).  ...
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Recent Supreme Court decisions

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There have been several important US Supreme Court decisions recently. The first is Milavetz v. United States in which the Supreme Court ruled that debtors’ bankruptcy counsel are “debt relief agencies”. The Bankruptcy Code requires debt relief agencies to provide certain notices and information to ...
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Chapter 13 Debt Limits to Adjust on April 1, 2010

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On April 1, 2010, the debt limits in Chapter 13 will upwardly adjust. Sometimes a bar to Chapter 13, these new debt limits may make filing Chapter 13 now possible where the same debtor may have had to file an individual Chapter 11 cases. Every three years (11 U.S.C. §104), the Bankruptcy Code ...
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