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When you are watching every penny, you sit at home and make financial calculations in your mind while other people are out engaging in leisure pursuits, or so the influencers on YouTube would have you believe, then you try to spend your free time on income-generating activities, or at least on doing things that do…
If you are bummed out about the fact that everyone in California has been in a foul mood for as long as you can remember, count your blessings. Try driving a few states east to Utah or Texas, where the older generations have managed to impress upon their daughters, even in these turbulent times, that…
In a perfect world, no one would need to use credit cards, but a perfect world is so far away that you have already maxed out one credit card with grocery purchases and other expenses that no one would consider luxuries, and now you are running up the balance on at least one other card.…
How bad your finances are is, at least partially, a matter of perspective. Sure, you don’t have any money left at the end of the month to put into savings. If you are so optimistic that you transfer a percentage of your paycheck into savings every payday, then you end up transferring it back into…
After introductory quotes from texts in Latin, Classical Greek, and Italian, T.S. Eliot’s poem “The Wasteland” begins, “April is the cruellest month.” It is true that April is not especially cuddly, but all of the months are cruel these days. It is as if the financial death toll of the Christmas holidays never ends. Chances…
Incurring Debt to File for Bankruptcy The decision to file for bankruptcy is an important one, especially for those struggling with debt. When done correctly, it can help you get a fresh financial start and free you from the burden of debt. However, there are certain rules and regulations that must be followed when filing…
The decision to file for Chapter 13 bankruptcy is one that should not be taken lightly. It will take a lot of hard work and dedication, but it can be very beneficial in the long run. One crucial question to consider when considering Chapter 13 is whether there are any benefits and drawbacks associated with…
Filing for bankruptcy is a difficult decision, especially when student loan debt is involved. No one wants to take on a burden of debt that they cannot pay off, but understanding the implications of filing for bankruptcy with student loan debt can help you make an informed decision about your financial future. Consult with Melanie…
Depending 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…
Filing for bankruptcy is a difficult decision to make, and it can feel like there are more questions than answers. One of the biggest concerns many people have when filing for bankruptcy is losing their car. So, can individuals who file for bankruptcy in California keep their car? According to Debt.org, California has the highest number…
5th Circuit Court’s Interpretation Continues to Moot 363 Appeals Recent decisions from the United States Court of Appeals for the Fifth Circuit and the corresponding lower bankruptcy courts have highlighted the Circuit’s expansive interpretation of the Bankruptcy Code’s Section 363(m), which guards bankruptcy sales. Hence, the sales are not subsequently overturned on appeal. 5th Circuit Court’s…
Growing Split Among Circuit Courts About Exculpation Countless Chapter 11 reorganization plans include provisions acknowledging the release of claims connected to stakeholders in bankruptcy cases. Excluded from this, however, are claims that allege various types of misconduct like bad faith, gross negligence, or fraud. These exculpatory statements are a valuable tool in motivating parties to…
Fifth Circuit Issues “Solvent-Debtor Exemption” Ruling Bankruptcy courts throughout the country are in disagreement about whether “make-whole” premiums that become effective as a result of a bankruptcy petition should be refused as interest that is unmatured. Additionally, bankruptcy courts are in disagreement about whether the exception for “solvent-debtors” that requires the payment of interest after bankruptcy petition…
In 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 In 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…