Michigan Bankruptcy Blog

Do I Need To Tell My Bankruptcy Lawyer About Uncashed Checks I Have?

Do I Need To Tell My Bankruptcy Lawyer About Uncashed Checks I Have?

Uncashed Checks and Money Orders: Still Property of Your Bankruptcy Estate   Why Do You Need to Disclose Your Assets in Bankruptcy? The US Bankruptcy Code (the Federal law that governs the bankruptcy process in the U.S.) requires that, along with debts and other transactions a filing debtor may or may not have engaged in, all assets must be disclosed in the bankruptcy petition. Why? Because the value of a debtor's assets help to determine the extent to which creditors are repaid ...

Posted on February 2nd, 2017 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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Eastern District of Michigan Bankruptcy: New “Bare Legal Title” Vehicle Ownership Decision

If Your Name Is on the Vehicle's Title and You File Bankruptcy—You Own It No "Bare Legal Title" in the Eastern District of Michigan for Vehicles "Bare Legal Title" has been an effective defense in Detroit, Michigan bankruptcy cases to the efforts of a Chapter 7 bankruptcy trustee to seize and liquidate a vehicle or other titled property. The argument comes into play when the filing debtor's name lies on the title to the vehicle—but the debtor does ...

Posted on January 27th, 2017 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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The Unwritten Future: Contingent Claims in Bankruptcy

Contingent Claims in Bankruptcy: Assets You're Not Sure You'll Ever Really Have   Contingent Claims: Disclose Everything! All assets of whatever value must be listed and disclosed in a Chapter 7 or Chapter 13 bankruptcy petition. This includes assets that are not necessarily "physical" assets like a couch or automobile or a piece of jewelry. For instance, a claim for funds owed to you by someone else is also an asset that must be listed and valued in a ...

Posted on July 18th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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