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As I noted in an earlier post, the paperwork the forms that Oregon and Washington debtors have used to file bankruptcy since the 1980s will be replaced by a new longer set of forms on December 1, 2015. Many critics have noted that the new form, at least at first blush, appear to be more user friendly while soliciting much more in the way of detail. The fear is that debtors who are foolhardy enough to file on their own will leave themselves exposed as they inadvertently report more than they should without advice of counsel. Other critics have cited the confusion that will likely be produced as courts struggle to wade through reams of information provided by self filers relying on the new forms. Other critics have questioned how the new forms will make bankruptcy easier for anyone, in as much as the average length of a bankruptcy petition will soon become over twenty pages longer than it is today.   One thing the new bankruptcy will provide to the courts is more meaningful data regarding bankruptcy trends. For example it would be extremely difficult today for any bankruptcy court to do any meaningful analysis regarding the percentage of Chapter 13 Bankruptcy filings that were initiated due to student loan debt, or tax debt or mortgage arrears. The new forms should provide more detailed information to the bankruptcy court about the bankruptcy customer. Is this a good thing?

Read More from: Oregon Bankruptcy Lawyer

6 hours 51 min ago
As the CFPB and Department of Education and others struggle with how best to provide effective help to at risk student loan borrowers, here is one example of a program that provided these services. For full disclosure I am the chair of the advisory committee of the organization that oversaw and funded the project. The Center for Excellence in Financial Counseling (“CEFC”) at the University of Missouri St Louis was founded and funded to develop ways to improve the quality of education and counseling for consumers in financial distress. For its first program, the organization has been exploring ways to help consumers who are at risk on the repayment of student loans. This is the first such program in the country and CEFC is encouraged about the results thus far and for the prospects going forward.

Read More from: Credit Slips

7 hours 27 min ago
We are a consumer bankruptcy law firm helping persons and businesses with their financial situation.  If you believe we can be of assistance to you, please contact us today at  or toll-free at 1-888-651-9353 and put our experience to work for you.  We offer a free initial consultation and we are available to accommodate your schedule and meet with you on weekends or during the evening. We are located in Glasgow, Kentucky at 111 West Wayne Street, one block off of the Square in Glasgow.  Glasgow is conveniently located on the Louie B. Nunn Cumberland Parkway, for those traveling from west or east of Glasgow We are Certified, Consumer Bankruptcy Law, American Board of Certification… one of the few attorneys in Kentucky so certified We are an active member of the National Association of Consumer Bankruptcy Attorneys, serving as Kentucky State Chair of this organization. We are also have been designated a debt relief agency by Congress and the United States Supreme Court and we provide legal assistance to consumers seeking relief under the Bankruptcy Code.
9 hours 26 min ago
Both bankruptcy and foreclosure are extremely complicated topics. Not only can the guidelines governing each can seem overwhelming for a non-lawyer, but the emotional reaction people have when feeling desperate about finances can make you feel like you are drowning. Depending on which type of bankruptcy protection you qualify for, you may be able to protect your home from foreclosure. First things first: hire a knowledgeable lawyer who will explain all your rights and assist you in making decisions regarding the process. This is your home we are talking about — likely your largest investment to date. Take the time necessary to become informed about your options regarding foreclosure and bankruptcy law in New Jersey. Chapter 13: If you file for this type of bankruptcy, you may be able to save your home. If you qualify, and are able to make loan payments on a revised schedule, you can ward off foreclosure. Chapter 13 bankruptcy often removes second and third mortgages; this may give you the extra funds needed to pay back the first loan.
9 hours 42 min ago
This week, we continue our series on frequently asked questions regarding bankruptcy. For this post, we are taking a look at the filing process. Many questions arise during the Walworth County bankruptcy filing process. You’ll find answers to the most common questions below.   Frequently Asked Questions Regarding Filing a Walworth County Bankruptcy Q: What Does an “Automatic Stay” Mean? A: “Automatic Stay” means that creditors listed in the bankruptcy petition must stop all attempts to collect on the debt. This includes lawsuits, liens, phone calls, mailings, wage garnishments, etc.   Q: Does Filing a Walworth County Bankruptcy Stop Bill Collectors From Calling? A: Yes. The automatic stay prevents bill collectors from calling you, or any other action that is an attempt to collect on the debt.   Q: How Soon After Filing a Walworth County Bankruptcy Will Creditors Stop Calling? A: Once your Walworth County bankruptcy petition is filed, the Clerk of Court mails a notice to all the creditors contained in the bankruptcy petition. This could take anywhere from days to a couple weeks. Once the creditor is aware of the bankruptcy filing, they must stop all collection efforts. This means creditors have to stop calling you if you inform them about the bankruptcy petition and give them your case number.   Q: Will Filing a Walworth County Bankruptcy Stop Eviction?

Read More from: Wynn at Law, LLC

10 hours 43 min ago
By Michelle HigginsAfter renting a one-bedroom for seven years, Catherine and Peter Bertazzoni had saved enough for a down payment and were ready to buy their first apartment together. They knew it would be a challenge to find a move-in-ready two-bedroom on the Upper West Side within their $1.5 million budget, but with a baby on the way, they needed more space.It wasn’t until they made their first offer, about $1.3 million for a two-bedroom one-bath listed for $1.25 million, that they realized just what they were up against.“We came in at what we thought was significantly above ask and ended up sixth out of 11 bids,” said Mrs. Bertazzoni, 31, a tax manager at an asset management company. “It was a real wake-up call.”Buying your first home in New York City is a daunting task. The median price for a Manhattan apartment recently reached nearly $1 million, with reports from major brokerage firms placing the price at $999,000 and $998,000, sums that would buy a mansion in many parts of the country. Competition is fierce, and bidding wars are practically the norm for anything that is halfway decent.

Read More from: Shenwick & Associates

11 hours 21 min ago
Authored by Douglas L. Waldorf, Jr.Commercial loan structures frequently call for either landlord lien waivers or tenant subordination agreements. In a situation where the collateral is real property that is already subject to a leasehold interest, the proper document will be a tenant subordination agreement. This document will contractually alter the priority of the interests in the collateral real property. That is, the existing leasehold interest will be subordinated to the newly acquired mortgage interest. The typical tenant subordination form will also include attornment language by which the landlord agrees to leave the tenant in place under its lease in situations where the landlord might otherwise lawfully be able to remove the tenant (e.g. a foreclosure suit following loan default) and the tenant agrees to acknowledge the lender as new landlord under the lease agreement. Without this agreement, it may very well be the case that the lease interest cannot be foreclosed in the event of a mortgage foreclosure.

Read More from: Florida Banking Law Blog

11 hours 24 min ago
Here at Shenwick & Associates, the magic word for our debtor bankruptcy clients (we represent creditors, too) is "discharge." When a debt is discharged in bankruptcy, the debtor no longer has any personal liability for the debt and the creditor can no longer communicate with or take legal action against the debtor for the debt. This is the primary reason why debtors file for bankruptcy.However, not all debts are dischargeable in bankruptcy. Section 523 of the Bankruptcy Code specifically lists many exceptions to discharge, including debts "obtained by–false pretenses, a false representation or actual fraud . . ." (§ 523(a)(2)(A)) and any debt "for willful and malicious injury by the debtor . . ." (§ 523(a)(6)).This section of the Bankruptcy Code dates back to the Bankruptcy Reform Act of 1978, and since then, the federal courts have had to interpret the statute. For example, in Kawaauhau v.

Read More from: Shenwick & Associates

11 hours 31 min ago
The Supreme Court’s decision in Till v. SCS Credit Corp. created quite a stir among bankruptcy practitioners because of its effect on what interest rate might constitute the proper rate to compensate secured lenders forced to accept loans pursuant to a chapter 11 plan.  For some, this was troubling, as the decision in Till involved a chapter 13 case and the collateral securing the secured claim was a single pickup truck — certainly not the facts of a large commercial chapter 11 case.  Today’s post isn’t about interest rates; however, it does involve a truck — a GMC pickup truck, to be specific.  And although this decision is not likely to have the same sort of notoriety that the Till decision has had, this decision from Bankruptcy Court for the District of Idaho is, nevertheless, worthy of a read as it provides practitioners with some noteworthy reminders on the law of fraudulent and preferential transfers. Facts
14 hours 52 min ago
Beginning today, ISS is accepting updates to companies’ self-selected compensation benchmarking peers, if those companies have annual meetings scheduled between February 1, 2016 and September 15, 2016. Submissions are due by 8:00 p.m. EST on Friday, December 11, 2015.
16 hours 48 min ago
Claims trading is a thriving cottage industry in bankruptcy cases. By some accounts, it’s a $40B+ business. While we generally anticipate seeing general unsecured claims purchased (whether for strategic reasons related to plan confirmation or economic bets), we’ve seen an increase in purchases of § 507(a)(8) priority tax claims (especially ad valorem tax claims and judgments). Common players in our area include Investa Services and Riah Capital Management, entities who specialize in investing in property tax claims.
A recent Nevada case reminded us of an interesting question that we litigated in one of our cases when these claims buyers popped-up: Is the purchaser of a tax claim entitled to the same priority treatment as the original governmental holder? The answer is no.
Intersection of § 507(a)(8) and § 1129(a)(9)

Read More from: Plan Proponent

18 hours 2 min ago
New York financier Lynn Tilton arrives for an appeal hearing at the U.S. District courthouse in New York in September  2015.
Bankruptcy could provide the best view yet of the inner workings of Lynn Tilton’s $2.5 billion distressed-debt empire, allowing investors a chance to judge for themselves the creditworthiness of an enterprise that has been charged as a fraud by the Securities and Exchange Commission. Read the Daily Bankruptcy Review story in The Wall Street Journal. (Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit, scroll to the bottom and click “try for free.”)

Read More from: Bankruptcy Beat

18 hours 35 min ago
Do you find yourself concerned because of the necessity to cope with complicated school writing pieces? provides you with life-changing remedies which help anybody gain top scores. Essay Writing Services is truly a company in United Kingdom offering top custom academic paper creation aid for a variety of your primary homework worries. The company worked closely with high school students of numerous colleges and universities across the world. The essays are actually of very high quality, genuine, sent right away, and at reasonable value. Our Writing Service Team The group of professional internet writers at are typically Specialists and College level possessors who grant everyone academic paper recommendations and are well prepared to manufacture many types of written from scratch and superior quality academic paper. Right here are the critical reviews that will advice students to acquire piece of writing on the internet now with Services presented

Read More from: Young, Klein & Associates

20 hours 47 min ago
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Read More from: Young, Klein & Associates

21 hours 54 min ago
On November 10, 2015, Millennium Lab Holdings and 2 affiliates filed for relief under chapter 11 of the Bankruptcy Code.  The cases are jointly administered under Case Number 15-12284 and presided over by Judge Silverstein.  The first day hearing was held on November 12, 2015.  The second day hearing is scheduled for December 10, 2015 at 11:00 a.m. The majority of the information available about the Debtors comes from the Declaration of William Brock Hardaway in Support of the Debtors’ Chapter 11 Petitions and First Day Pleadings (D.I. 3) (the “Declaration”).  The other two debtors in these cases are Millennium Health, LLC and RxAnte, LLC.  The Debtors filed these chapter 11 cases as a prepack, intending to quickly shed a substantial amount of debt and continue their operations. The Debtors in this case provided testing services, and the majority of their revenues were generated through Medicare reimbursements.  Declaration at *9.  This became an issue, however, when the Department of Justice began investigating Millennium.  In February, 2015, a Medicare Administrative Contractor informed Millennium that its Medicare billing privileges would be revoked on account of alleged administrative billing abuses relating to claims allegedly submitted by Millennium for services provided, after their dates of death, to 59 Medicare beneficiaries.  Declaration at *9.
1 day 4 hours ago
The Affirmative Insurance Holdings, Inc. Section 341 meeting has been continued to December 14, 2015, at 1:00 p.m. at J. Caleb Boggs Federal Building, 844 King St., Room 2112, Wilmington, Delaware.  For a prior post on this bankruptcy proceeding, click here. Carl D. Neff is a bankruptcy attorney with the law firm of Fox Rothschild LLP.  Carl is admitted in Delaware and regularly practices before the United States Bankruptcy Court for the District of Delaware. You can reach Carl at (302) 622-4272 or at
1 day 4 hours ago
The ABA Journal has named Credit Slips to its annual Blawg 100. Thanks for the recognition! We really appreciate it. It is a list of great blogs, and we are honored to be included on it. And, thanks to our readers and commenters who help to make this little part of the Internet a great community.

Read More from: Credit Slips

1 day 7 hours ago
Are you struggling financially from trying to protect a son, daughter, sibling or parent from drug addiction?  If so, you are not alone.  As the holidays approach, I am excited about seeing my family.  However, I am a sister and sister-in-law of recovering drug addicts and existing drug users.  The holidays can be very hard for those of us who have family members who are drug addicts.  The empty chairs are painful to see and the shell of a loved one suffering from addiction is hard to be around.  I have fallen to many traps of drug users:
  • I have received late phone calls needing money.
  • I have received phone calls from my mother crying hysterically because a family member was arrested.
  • I have had prescriptions, money and jewelry stolen from my home or from my purse during family gatherings.
  • I have had loved ones lie to my face to get money so they could feed their next fix.
  • I have had family members blame me because I don’t financial help those family members struggling with addiction.
  • I have had to miss or shorten visits with family to avoid drug users.
  • I have watched my niece and nephews lose the parents that they once knew.
  • I have visited family members in jail.
  • I have written letters to jail.

Read More from: Bonds & Botes, P.C.

1 day 8 hours ago
The paperwork that people and businesses have used to file for bankruptcy protection since the 1980s is being replaced on Dec. 1 with forms that have clearer, easier-to-understand instructions and that’s…bad? Bankruptcy experts who have been working to freshen up and simplify the new forms since 2008 got an earful from critics who worried that the clearer instructions–free of legalese and a confusing format–will encourage more people to file without help from a bankruptcy lawyer. That could lead people to make big mistakes and–of course–would be bad for business, critics said during the public-comment phase of the process. “May as well hand them some dynamite,” said one commenter who predicted the forms will cause the number of people who file for bankruptcy without a lawyer—called pro se filings—to surge. “As we all know bankruptcy is not about filling in forms–it is about understanding the rules, statutes and case-law that dictate and interpret how forms are completed.” Another commenter from Iowa said the confusion will increase “demands on the courts’ time as [judges] try to sort out the financial affairs of uninformed debtors. There are good reasons to consult an attorney when filing a federal court petition. A bankruptcy petition incorrectly or untimely filed can negatively affect a debtor’s future, rather than providing the hoped-for relief.”

Read More from: Bankruptcy Beat

1 day 11 hours ago
Please see our client alert on the proxy advisory firms’ policy updates.
1 day 12 hours ago