• Published On: June 29, 2022

    Examine all loan and security paperwork to confirm that they are comprehensive and that all necessary measures to perfect liens on any collateral supporting the obligation have been taken. If not, never take any action [...]

  • The secured creditor or landlord may ask the debtor to sign a new contract called a “reaffirmation agreement” or “assumption of lease” after the bankruptcy is filed but before the discharge is issued. This new contract [...]

  • Look for a reason to object to a debt being discharged under Sections 523 or 727. Creditors have only 60 days from the date of the initial creditors’ meeting to initiate a complaint to [...]

  • Creditors will be notified of an initial meeting of creditors (Section 341, Meeting of Creditors) to be held by the bankruptcy trustee shortly after a bankruptcy is filed. You are welcome to attend the [...]

  • An order granting a Motion for Relief from the Automatic Stay, often known as a “stay order,” is obtained by filing a Motion, Notice, and Certificate of Mailing with the court, as well as notifying [...]

  • Published On: June 28, 2022

    When a bankruptcy petition is filed, a federal restraining order known as the automatic stay prevents any creditor, collection agency, or government institution from pursuing trustee sales, foreclosures, garnishments, lawsuits, or repossessions against the debtor [...]

  • The Bankruptcy Code was changed in 2005 to help people who are owed child support or alimony/maintenance (sometimes known as “domestic support obligations” or “DSO”). The collection of any DSOs from property that is [...]

  • When a bankruptcy is filed that includes a loan on real estate, then the automatic stay usually stops the ability of the lender to complete their foreclosure or trustee's sale.  It is advisable that [...]

  • Residential real estate or personal property: Chapter 7 — The debtor/trustee has 60 days to assume or reject the lease after filing the bankruptcy.

  • Published On: June 28, 2022

    A proof of claim is a document that the creditor uses to show how much money the debtor owes as of the bankruptcy filing date. The creditor must file the form with the clerk [...]