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    Tag: chapter 13

    • Discharge Of Second Mortgages In Bankruptcy

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      An Explanation Of The Mechanisms Of Lien Stripping By Jay Weller One tool used by knowledgeable Bankruptcy Attorneys is a process called Lien Stripping. Lien Stripping in Bankruptcy permits the Bankruptcy Attorney, on his Client’s behalf, to eliminate or Discharge Second and Lesser Mortgages, meaning other than the First Mortgage. In order to Lien Strip…

    • In Re Lisowski: Florida Bankruptcy Court Decision Grants Separate Exemption For Mobile Homes

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      In Re Lisowski: Florida Bankruptcy Court Decision Grants Separate Exemption For Mobile Homes An Opinion By The Great Bankruptcy Judge, The Honorable Paul M. Glenn By Jay Weller A 2008 United States Bankruptcy Court Decision by the Honorable Paul M Glenn, held that Florida’s Modular Home Exemption which permits Debtors who own a mobile home…

    • The Coming Crisis – Part VII

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      Pension Plans And The Detroit Bankruptcy    The Centre for Retirement Research (CRR) report found that in the United States, the States pensions for its employees are 27% underfunded. The total amount of obligations that are underfunded amount to about one trillion dollars. To calculate the one trillion dollar shortfall, CRR used the mathematics used…

    • The Coming Crisis – Part VI

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      Pension and Health Plans in Detroit This is part VI in our series on the Detroit bankruptcy, and pension and health plans for governmental retirees. The approach to the bankruptcy in Detroit has important significance not only to the city of Detroit and its inhabitants, but to the bond market that finances much of many…

    • Biggest Bankruptcies In History..

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    • Origins Of Bankruptcy Law in the United States

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      The United States Constitution gives Congress the power to establish laws on the subject of Bankruptcy throughout the United States. Congress first exercised this power the Bankruptcy Act of 1800. This act, which virtually copied the existing English law, provided for involuntary bankruptcies and was only available to traders (merchants). The act was repealed three…

    • Chapter 13 Case Permits Cramdown Of Mortgages

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      Debtors In Bankruptcy in Tampa Area May Pay Only The Actual Value Of Their Homestead In Bankruptcy Provided Their Mortgage Terminates Before Five Years The 11th Circuit of the United States Court Of Appeals Ruled in American General Finance versus Richard W Paschen that the plain language of the Bankruptcy Code allows Debtors in Chapter…

    • Trustee Duties In Bankruptcy (Part 2)

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      Part Two: Trustee Duties In Bankruptcy The Duties of the Chapter 7 Bankruptcy Trustee and the Chapter 13 Bankruptcy Trustee are substantially similar but there are some minor differences. The Chapter 13 Bankruptcy Trustee under Bankruptcy Section 1302(b)(4) must, in addition to his Duties enumerated in Part One of our discussion, advise, other than on…