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Supreme Court Decision Affirming Discharge of Student Loan Debt Prompts Possible Revisions to Chapter 13 Procedures
A decision by the U.S. Supreme Court in United Student Aid Funds, Inc. v. Espinosa, 130 S. Ct. 1367 (2010), has reportedly prompted a review of various Chapter 13 bankruptcy procedures. The court affirmed an order discharging student loan debt, but only because the...
Failure to Disclose Lease of Residential Property in Chapter 13 Bankruptcy Proceeding Results in Prison Sentence for California Debtor
A federal judge sentenced a Chapter 13 debtor to fifteen months in prison in December 2013, following his conviction of one count of bankruptcy fraud in April. Federal prosecutors accused him of failing to disclose assets, including lease contracts on residential real...
Effectiveness of Mandatory Pre-Bankruptcy Credit Counseling Remains Uncertain
Since 2005, individuals filing for bankruptcy under Chapter 7 or Chapter 13 must receive “credit counseling” from an approved agency before filing a petition. Failure to do so can result in dismissal of the person’s case. The stated purpose of credit counseling is to...
Winning the Lottery May Make Bankruptcy More Likely in Some Cases
A Georgia woman recently claimed half of the second-largest Mega Millions lottery prize in history, totaling $648 million. The only larger award occurred in March 2012, when three winners split $656 million. The woman's story has led to an examination of lottery...
Credit Counseling and Debtor Education Requirements in Personal Bankruptcy
Congress passed a massive overhaul of the bankruptcy system, known as the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), in 2005. The law changed many features of individual bankruptcy, including the addition of mandatory counseling and education. A...
Creditor Challenges Debtor’s Transfer of Business Assets to Himself Prior to Chapter 13 Bankruptcy Filing
A business owner in Maine recently took the unusual step of filing individually for Chapter 13 bankruptcy with the intention, according to local news coverage, of forestalling certain business liabilities. This includes a pending eviction brought by Oxford County...
Supreme Court Decision on Dischargeability of Debts Results in Remand of Several California Cases to Bankruptcy Court
For most debtors filing for personal bankruptcy under Chapter 7 or Chapter 13, a primary goal is obtaining a discharge of debt at the end of the case. Federal bankruptcy law sets limits on what debts may be subject to discharge, in part to protect creditors who are...
California Cities File for Bankruptcy, Although It’s Different from a Personal Bankruptcy
Desert Hot Springs, a small resort town of about 26,000 people in Riverside County, California, is reportedly considering filing for bankruptcy protection. Two other California cities, Stockton and San Bernardino, have filed for bankruptcy since 2012. The most...
Evictions During Bankruptcy Under California Law
"Eviction" is the common term for the process by which a landlord has a tenant removed from an apartment or other leased property for violation of a lease contract, such as non-payment of rent. The word may also be used to describe proceedings brought against people...
Quitclaim Deed Deemed a Fraudulent Transfer by California District Court
A federal district court in Santa Ana, California found that a quitclaim deed from a debtor to the debtor’s spouse, named as a defendant in an adversary proceeding, constituted a fraudulent transfer. In re Sui, No. 8:11-bk-20448-CB, findings of fact (C.D. Cal., Sep....
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