What is a Means Test and How Does it Work?
Admin on February 17, 2023 Posted in Bankruptcy Law, BlogWhen considering filing for bankruptcy, one of the most important steps is the means test. This test evaluates your financial situation to determine if you are eligible for Chapter 7 bankruptcy vs. Chapter 13 bankruptcy. If you are considering filing for bankruptcy, speak with an experienced attorney at the Law Offices of Melanie Tavare to […]
How to Go From Chapter 7 Bankruptcy to Chapter 13 & Vice Versa
Admin on December 9, 2022 Posted in BlogDepending on your financial situation, you may find that converting from one type of bankruptcy to another is the best option for you. If you are considering filing for bankruptcy, it is important to understand the differences between Chapter 7 and Chapter 13 bankruptcy and when it might be beneficial to convert from one type […]
Non-Consensual Releases of Third Parties Approved by Bankruptcy Court
Admin on March 30, 2022 Posted in Bankruptcy Law, Bankruptcy News, BlogIn February 2020, as one of several decisions concerning third-party releases (TPRs), a bankruptcy court judge confirmed a reorganization plan and its associated debtor entities which include third-party releases. As part of the plan’s confirmation, the judge noted recent decisions that introduced concerns involving a court’s authority in approving non-consensual (NC) TPRs but applied Third […]
Appellate Court Consider Statute of Limitations Following Bankruptcy Discharge
Admin on March 16, 2022 Posted in Bankruptcy Law, BlogIn January 2022, a Washington appellate court reaffirmed a regulation connected to real estate foreclosures and the statute of limitations following a discharge of bankruptcy. The regulation is that a bankruptcy court does not automatically raise the six-year statute of limitations associated with trust foreclosure. The outcome of this case is important because Washington state […]
Rennaker v. Davis Highlights What Cannot be Discharged in Bankruptcy
Admin on January 10, 2022 Posted in Articles, Bankruptcy News, BlogThe recent Rennaker case involved various claims addressing what is dischargeable under both 11 U.S.C. section 523 and section 727. The Judge’s decision, in this case, provides a detailed examination of legal actions concerning what can be discharged in bankruptcy. How the Case Arose The debtor in the proceeding was a lawyer who handled primarily […]
Federal Circuit Court Rules Some Student Loans Can be Discharged in Bankruptcy
Admin on December 9, 2021 Posted in Bankruptcy Law, Blog, Chapter 7 BankruptcyIn the recent circuit court case of Homaidan v. Sallie Mae, Inc., a federal circuit court held that a ruling by a New York bankruptcy court that private loans to pay for college education are not exempt from being discharged under the Bankruptcy Code’s Section 523. This section of the Bankruptcy Code excludes from discharge […]
The Issuers of Stock Held Liable for Double-Pledge
Admin on August 30, 2021 Posted in Bankruptcy News, BlogA Louisiana bankruptcy court, in the Karcredit LLC case, recently considered a case involving two lenders and one stock certificate. At the heart of the Karcredit case was a party who relied on a stock certificate to satisfy loan duties owed to another party. After a replacement certificate was reissued, one party relied on this […]
Avoidance Powers After the U.S. Glove Case Ruling Examines Whether Benefit Required for Avoidance Power
Admin on August 15, 2021 Posted in Bankruptcy Law, BlogUnder the US Bankruptcy Code, various powers are granted to debtors, creditors, and other parties involved with the bankruptcy process. One such power is found in section 544, which grants individuals the ability to avoid some interactions with bankruptcy trustees or debtors-in-possession. Questions, however, have lingered about whether avoidance powers can only be exercised when […]
Court Rules Recoupment Requires Proof of Emotional Distress
Admin on May 15, 2021 Posted in Bankruptcy News, BlogIn April, a bankruptcy court entered a judgment in favor of a national bank, determining that the plaintiff had failed to establish that he had experienced an injury involving economic or emotional distress damages due to the lender’s violations. During Chapter 13 bankruptcy proceedings, the plaintiff initiated legal action against the bank and a loan […]
Bankruptcy Trustee Powers Removed by Congress
Admin on April 15, 2021 Posted in Bankruptcy Law, Bankruptcy News, BlogSince the start of the coronavirus pandemic, a large number of commercial tenants have to contend with the challenge of whether local or state regulations permitted their organization to remain open. Unfortunately, this means that many companies have been unable to generate revenue for the past year. Given the financial hardships faced by many people […]