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Showing posts from November, 2021

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