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If you file bankruptcy, you want to know if you can keep your home.  You want to know, what is the home bankruptcy exemption? Home Bankruptcy State Exemptions In Michigan Michigan has home exemption choices for folks who file bankruptcy here. Tenancy by entireties is available as one option. That is a fancy legal term [...]

The post Home Bankruptcy Exemption In Michigan appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.

Read More from: Stop Creditor

10 hours 2 min ago

Are you facing wage garnishment? Can you afford to have your wages garnished? Many people, just like you, are struggling from paycheck to paycheck just to pay their mortgage or rent, utilities, and groceries. When wages are garnished against a person in this type of financial strain, it may mean that person or family cannot afford groceries or afford to pay their electric bill in full anymore. They end up having to make a sacrifice, choosing what bill or necessity not to pay now, because of the wage garnishment. Are you in this type of situation right now? If so, our East Troy bankruptcy lawyer, Shannon Wynn can help.

Read More from: Wynn at Law, LLC

1 day 2 hours ago

Rather than addressing a pressing need like an economic crisis, a fintech charter would place the federal government in the business of choosing winners and losers in a market, with the potential to distort the banking system.

Read More from: BankThink

1 day 3 hours ago

calculator-1019936_1280-1_optWhat’s a bankruptcy judge to do when the bank’s numbers don’t add up?

The bank files a motion for relief from stay to foreclose on my Chapter 13 client’s home.  They claim he’s months behind.

Only the numbers in their papers don’t add up.

1 day 4 hours ago

A strong and dynamic risk detection system requires focusing on the most important blind spots not satisfactorily explained by existing tools, rather than focusing on the "answers" produced by those tools.

Read More from: BankThink

1 day 5 hours ago

Adam Sansweet

Rick Antonoff

The Supreme Court’s 2016–2017 term began last week with attention to two bankruptcy issues: Structured dismissals and insider claims.

Structured Dismissals:

Read More from: Bankruptcy Law Watch

1 day 5 hours ago

Breaking News This Morning ...

Morgan Stanley beats estimates: Morgan Stanley reported a third quarter profit of $1.6 billion, or 81 cents a share, up 57% from $1.02 billion, or 48 cents a share, in the year ago period. That easily beat the median Street forecast of 63 cents. Revenue rose 15% to $8.91 billion from $7.77 billion, also beating analysts' estimates of $8.17 billion. As with its peers on Wall Street, which reported earlier, the...

Read More from: BankThink

1 day 5 hours ago

Lawyer Nick GajewskiA Chapter 13 bankruptcy (also known as a Debt Consolidation) will bundle together all of a person’s debts so that the person filing makes only one payment per month to the Court.  From there, the Court handles paying each of your creditors what they are supposed to receive under the bankruptcy laws.  But how does the Court determine the amount of a person’s payment?  Unfortunately it isn’t as simple as adding together your debts and dividing by the number of months in your plan.  There are three different ways the Court looks at your case to determine what your payments will be.  For simplicity’s sake, let’s call them the Debts Test, the Income Test, and the Means Test.

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

1 day 7 hours ago

Cherry Hill Debt Management AttorneysThe U.S. economy is still struggling, which means that a lot of hardworking people in New Jersey, New York, Pennsylvania, and just about everywhere else are also struggling when it comes to managing their finances and paying their bills. According to a recent report issued by, a major consumer financial services company and personal finance website, roughly two-thirds of all Americans are making a point of limiting the amount of money they spend each month.

The report found that 65 percent of Americans are saving money in anticipation of a difficult future. This cautious approach to spending and saving could be viewed as a positive in the sense that it means people are prepared in the event of a financial emergency, such as the loss of a job or a medical issue. However, the lack of confidence in the US economy ultimately does not bode well for future economic growth.

1 day 8 hours ago

Cornell v Envoy Mortgage, Ltd. (In re Hosch), 551 B.R. 696 (Bankr. D. N.H. 2016) – A foreclosing mortgagee that was the successful bidder at the foreclosure sale delayed recording the sale deed. A chapter 7 trustee claimed that as … Continue reading

1 day 8 hours ago

Yes ! 

It is very possible, and likely, that you will get to keep your vehicle if you file bankruptcy, if you want to keep it.

If you owe on the vehicle, and you are current on your payments, then you can generally continue to keep paying who you owe and keep the vehicle in whatever type of bankruptcy you file.

If you are behind on the payments on the vehicle, and you want to keep it, there is a type of bankruptcy (Chapter 13) where you can pay for the vehicle through the bankruptcy and eliminate the payment, and sometimes lower the interest rate on the debt. You can still do this even if you are current, possibly in order to lower the interest rate.

Likewise, if you owe on a vehicle and want to stop paying and don’t want to keep the vehicle, you can surrender it and in some types of bankruptcy owe nothing, and in another type, surrender and pay what’s left owing through the bankruptcy (Chapter 13) after the vehicle is sold.

It is important that you discuss your options with an experienced bankruptcy lawyer as soon as possible. Most lawyers are willing to offer you a free, no obligation appointment to discuss your situation to see if bankruptcy is right for you and how it would effect your vehicle.

1 day 22 hours ago

Recent moves by the Consumer Financial Protection Bureau, including a plan to regulate payday lending, take away what limited credit options consumers have.

Read More from: BankThink

2 days 2 hours ago

Kathryn DavisNavy Federal Credit Union is a Virginia based credit union that limits its membership to people who have been or are currently serving in the U.S. military, Department of Defense employees and contractors, and their immediate family members. It is currently the largest credit union in the United States. Navy Federal has recently been penalized for using improper debt collection practices.

On October 11, the Consumer Financial Protection Bureau (CFPB) ordered Navy Federal Credit Union to pay approximately $23 million to victims of its practices, as well as a civil penalty of $5.5 million to the CFPB Civil Penalty Fund.  In addition, Navy Federal will make a comprehensive plan to correct is debt collection practices.

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

2 days 4 hours ago

owl croppedIt’s about WHO you owe,

not so much about HOW MUCH,

when you file bankruptcy.


If your debt is subject to discharge,  your bankruptcy wipes out all of your debt, in whatever amount,  to a listed creditor.

Due process

It’s all about due process.  Remember from civics class?

Notice of your bankruptcy case is the due process that a creditor must get.

Notice gives the creditor a chance to share in any distribution in a bankruptcy case;  the creditor gets a chance to contest your right to get a bankruptcy discharge.  A creditor can challenge the discharge of your debt to the creditor if there are legal grounds.

2 days 4 hours ago

Many have linked the gender gap in financial services to the difficulties in balancing work pressures with family demands. To help address this, paid family leave should be compulsory in the industry.

Read More from: BankThink

2 days 5 hours ago

Breaking News This Morning ...

Goldman's earnings soar: Goldman Sachs's third quarter earnings jumped 47% versus the year-ago period as trading revenue rose 17%. The bank earned $2.09 billion, or $4.88 a share, easily beating analysts' estimates of $3.82 a share. A year earlier it earned $1.43 billion, or $2.90 a share. Revenue rose 19% to $8.17 billion from $6.86 billion, well above Street forecasts of $7.42 billion. Return on equity climbed to 11.2%, up from...

Read More from: BankThink

2 days 5 hours ago

Caesars (photo by Marilyn Swanson)

By: Donald L. Swanson

“You don’t need my permission. Just click your heels together three times and say, ‘There is no place like mediation.’”

–U.S. Bankruptcy Judge Benjamin Goldgar, In re Caesars Entertainment hearing on 2/18/2016.

Despite such a statement, the Bankruptcy Court in Chicago had already, prior to February 2016, revoked its local rules on mediation.

Fast-forward to mid-September of 2016. This same Bankruptcy Court in the same In re Caesars case bemoans a mediator’s failure to provide evidence on usually-confidential mediation details.

–In response, the mediator resigns.

Read More from: Mediatbankry

2 days 8 hours ago

Well, let’s start with another measure about how bad

Student Loan
Michigan Law School

the Student Loan situation is.

Credit Sesame, a credit and loan management company, took a look at the places where the median annual income for those with a bachelor’s degree or higher is less than the average student loan balance. In short, places where graduates owe more than they’re earning.


Read More from: Discharge Student Loan

2 days 13 hours ago