Bankruptcy Court Set To Require Mortgage Lenders To Negotiate Mortgage Modifications With Chapter 13 Debtors

The Orlando bankruptcy court is preparing to adopt a rule providing for mandatory mediation between homeowners and their mortgage companies to facilitate mortgage modification. Congress rejected a change in the bankruptcy code that would have empowered Chapter 13 debtors to force reduction in their first mortgage principal to their residence’s current fair market value. This proposed procedural rule will not circumvent the bankruptcy code and will not force reduction of first mortgage principal.

Article Explains Risk Of Hiding Assets In Bankruptcy

Two people told me about a St. Peterburg Times article about people who get in trouble and lose their bankruptcy discharge because they tried to hide assets in a Chapter 7 bankruptcy. The author, Susan Taylor Martin, tells the story of bankruptcy debtor Gary K Parker who filed a bankruptcy petition listing few

Social Media Poses Trap For Bankruptcy Debtors

I really liked this post on Georgia attorney Jonathan Ginsburg’s bankruptcy blog about how debtor’s Facebook posts could jeopardize their bankruptcy case. If you are part of the “social media generation” and are considering bankruptcy you should read this post. I have not had any experience with a Chapter 7 trustee researching debtors’ social media content, but I suspect that the trustees will eventually realize

Chapter 7 Trustees Attacking Debtors' Right To Stay Put In Their Upside Down Homestead Property

The Florida Supreme Court’s expanded debtor’s $4,000 wildcard exemption earlier this year giving debtors substantially more exemptions to apply to their cars and personal property. Any debtor who does not need to use their homestead exemption can take the wildcard exemption; joint debtors have a combined additional $8,000 of available exemptions.

FICO Chief Talks About Credit After Bankruptcy

People considering bankruptcy are usually concerned about bankruptcy’s effect upon their credit score and what they need to do in order to rehabilitate their credit. I saw an interesting article in Yahoo Finance about an interview with Mr. Mark Greene, the CEO of Fair Isaac & Co., the managers of your FICO score.

Does A Workers Compensation Settlment Count As Income In Means Test Analysis?

A bankruptcy attorney sent me an interesting question about treatment of workers compensation benefits in the Chapter 7 means test calculation. Workers compensation payments are exempt from creditor garnishment outside of bankruptcy, and debtor’s

Is It An Automatic Stay Violation If Doctor Refuses To Treat Bankrupt Patient Unless He Pays Doctor's Pre-Petition Medical Bill?

Here’s an interesting issue that circulated on a bankruptcy attorney listserv. A debtor files bankruptcy because he cannot pay credit card and medical bills.