Michigan Bankruptcy Blog

Is My Credit Card Debt a Secured Debt in Bankruptcy?

Is My Credit Card Debt a Secured Debt in Bankruptcy?

Credit Cards as Secured Debts: Often Claimed, Rarely Proved ... The Issue The issue of whether a credit card debt can be claimed to be a "secured" debt in bankruptcy is a common discussion for attorneys who handle Chapter 13 bankruptcies in particular. In a Chapter 13 bankruptcy, creditors are repaid some or all of what they are owed. (See my Chapter 13 plan page here for more detail on how this works!). In order to be paid, ...

Posted on March 15th, 2017 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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Is a Michigan Tenancy by the Entirety Property Protected in Bankruptcy?

Tenancy by the Entirety Property: Joint Marital Debts or No Joint Debts? That Is The Question ... What is Tenancy by the Entirety? "Tenancy by the Entirety" is a type of property ownership that is available in Michigan to married co-owners. (Non-married co-owners are simply "joint tenants/owners".) Tenancy by the Entirety is a common-law concept rooted in the old idea that two married people are a "unified person" from a legal standpoint. The creation of a Tenancy ...

Posted on February 22nd, 2017 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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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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New Means Test Numbers for November 1, 2016

New Michigan Bankruptcy Means Test Numbers for November 1, 2016   The US Trustee's Office (the division of the Department of Justice that administers the bankruptcy process in the United States) has released its updated median income numbers for each state for Chapter 7 and Chapter 13 bankruptcy petitions filed on November 1, 2016 or after. These numbers are used in the "bankruptcy means test" to determine income-based eligibility for Chapter 7 bankruptcy and, in Chapter 13 bankruptcies, to ...

Posted on November 2nd, 2016 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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Medical Debt Dischargeable in Bankruptcy

Nothing Sacred About Medical Debt or Hospital Debt ... Medical Debt: An Ongoing Issue Discharging medical debt is one of the primary reasons that a good percentage of Americans file Chapter 7 or Chapter 13 bankruptcy. Our healthcare industry is largely premised on a for-profit motive and operates outside any particular mission purely involving the provision of health-care. Hospitals exist to make money and to purvey pharmaceutical and other medical products for the financial benefit of pharmaceutical companies ...

Posted on October 26th, 2016 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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What Is My Car Worth In Bankruptcy?

What Is My Car Worth in Bankruptcy? NADA vs. Kelley BlueBook Values Car Value in Bankruptcy: When Does It Matter? In a large number of Chapter 7 bankruptcy cases, the value of a vehicle only matters if you own the vehicle free and clear of any car loan lien, or if you have nearly completed your payments are nearing the point of owning it free and clear. Cars depreciate fast, and they rarely outpace a lien amount ...

Posted on October 5th, 2016 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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A People’s History of Bankruptcy in the United States

Bankruptcy in the United States: A Timeline of Eroding Rights Bankruptcy in the United States is an internationally unique legal remedy for those suffering from burdensome debt. Very few other countries allow individuals in debt to discharge and eliminate their personal, consumer debt. Of the other nations who do maintain some sort of "insolvency" law, as it tends to be called, the majority provide a form of bankruptcy that benefits creditors exclusively. It is a means of ...

Posted on July 5th, 2016 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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Can Creditors Enforce Mandatory Arbitration Clauses in Bankruptcy?

Mandatory Arbitration Clauses: Not Enforceable in Bankruptcy Bankruptcy Discharge Violations Must Be Litigated in Bankruptcy Court, Says New York Court Last month, a New York bankruptcy court ruled that a debtor's action against Credit One for violating his discharge injunction by reporting his discharged debt as "charged off" on his credit report rather than "closed, discharged in bankruptcy" as required  could be argued before the bankruptcy court. Credit One argued that the "mandatory arbitration" clause in his ...

Posted on June 24th, 2016 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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Michigan Bankruptcy Creditors Cannot Threaten Criminal Charges

Collection Attempts Are Barred Post-Filing Even If Wrapped in Threat of Criminal Charge Filing a Chapter 7 or Chapter 13 Bankruptcy Collections Harassment The moment you file a bankruptcy in Michigan, all collections activity must stop under the "automatic stay" injunction that activates automatically and instantly with the filing of the case in the Federal Bankruptcy Court. Creditors cannot engage in any of the usual sorts of collection activity: no phone-calls, no mailing of invoices or bills ...

Posted on June 15th, 2016 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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New Means Test Numbers for April 1, 2016

New Michigan Bankruptcy Means Test Numbers for April 1, 2016   The US Trustee's Office (the division of the Department of Justice that administers the bankruptcy process in the United States) has released its updated median income numbers for each state for Chapter 7 and Chapter 13 bankruptcy petitions filed on April 1, 2016 or after. These numbers are used in the "bankruptcy means test" to determine income-based eligibility for Chapter 7 bankruptcy and, in Chapter 13 bankruptcies, to ...

Posted on April 7th, 2016 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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