Michigan Bankruptcy Blog

Can Creditors Enforce Mandatory Arbitration Clauses in Bankruptcy?

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

Read More

Tags: , , , , , , , ,

What Is a Bankruptcy Rule 2004 Examination?

Bankruptcy Rule 2004 Examination: When the 341 Meeting of Creditors Wasn't Enough Any Party In Interest May Request A bankruptcy Rule 2004 examination (otherwise known as a "2004 exam") is an additional question-and-answer session permitted by Rule 2004 of the Bankruptcy Rules of Procedure and allowing any party in interest to a bankruptcy proceeding to "request" within a Chapter 7 or Chapter 13 bankruptcy process in order to gain more information from a filing debtor. In other words, if one of your ...

Posted on June 18th, 2014 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , , ,

What Is a Proof of Claim in Bankruptcy?

Proof of Claim: How Creditors Get Paid in Chapter 7 and Chapter 13 Bankruptcy [caption id="attachment_2565" align="aligncenter" width="300"] Image by LawCN88 courtesy of Wikimedia Commons[/caption] The Proof that a Creditor Holds a Claim—Sometimes A "proof of claim" is a standard form that the US Bankruptcy Code requires that creditors that you owe money to file in your Chapter 13 bankruptcy case in order to receive payment from the Chapter 13 Trustee from your Chapter 13 payment plan and ...

Posted on January 29th, 2014 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , ,

Who Do I Have to Notice of my Bankruptcy Filing?

Notice Creditors & Other "Parties of Interest" No Need to Notify Your Boss or Neighbors Section 521(1)(A) of the US Bankruptcy Code requires that you file with your Chapter 7 or Chapter 13 petition for bankruptcy a "list of creditors," among other things. This "list of creditors" is largely what you are disclosing when you complete Schedules D, E, F, G, and H of the bankruptcy petition, and, once completed and filed with the court, every individual ...

Posted on December 17th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , ,

Can I Discharge Payday Loans in Bankruptcy?

Payday Lending: Usury at its Worst [caption id="attachment_2346" align="aligncenter" width="300"] Image by Swanksalot, courtesy of Wikimedia Commons[/caption] Payday lending represents the worst of the worst when it comes to consumer lending. The practice nearly always involves a request for post-dated checks, shockingly high interest rates, and shadowy, difficult-to-locate lenders whose corporate owners often turn out to be located on American Indian reservations or in foreign countries like Belize, outside of the reach of the Fair Debt Collection ...

Posted on October 12th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , , ,

Chapter 7 Bankruptcy and Insider Creditors: Don’t Do the Right Thing

The Dangers of Repaying Personal Loans Prior to Filing Chapter 7 [caption id="attachment_2286" align="aligncenter" width="300"] Image courtesy of Azoreg via Wikimedia Commons[/caption] Insider Creditors & Preference Payments in Chapter 7 Bankruptcy When you file a bankruptcy petition, you create a legal "bankruptcy estate" containing all of the property that you own at whatever value it happens to have on the date that you file the bankruptcy petition. In a Chapter 7 bankruptcy, an individual called the Chapter 7 Trustee ...

Posted on September 12th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , , ,

Can I File Chapter 13 If Not Eligible for Discharge?

File Chapter 13 If Not Eligible for Discharge In Order To Force Creditors Into An Affordable Repayment Plan One of the interesting options that a Chapter 13 bankruptcy offers is the possibility of filing a Chapter 13 even if you are not eligible to receive a discharge of the balance of the debts that are not paid through the Chapter 13 payment plan. Why in the world would I do that, you ask? It's a useful option ...

Posted on July 30th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , , ,

Credit Unions and Bankruptcy: The Friendly Face of an Unforgiving Creditor

Credit Unions and Bankruptcy: Protecting Your Bank Balance & Cross-Collateralization Agreements Credit Unions and Bankruptcy: More Than Meets the Eye Credit unions and bankruptcy are often an uncomfortable mix. Credit unions can be wonderful to deal with as a customer on a day-to-day basis. People like the friendly, personal service they often receive and, to some extent, the notion that they are not simply "customers" but are "members" of the credit union. There is an intimation of ...

Posted on March 8th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , , , ,

Should I Buy a Car Before Filing Bankruptcy?

Really? You Can Buy a Car Before Filing Bankruptcy? Can I Buy a Car before Filing Bankruptcy: Maybe. In considering whether or not to buy a car before filing for bankruptcy, either Chapter 7 or  Chapter 13, there are multiple issues involved. Any such decision should only be made with the counsel of an experienced Michigan bankruptcy attorney. Should I Buy a Car before Filing Bankruptcy: Asset vs. Debt Issues A new car purchased prior to filing for bankruptcy represents ...

Posted on February 27th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , , , ,

What Is the Bankruptcy Automatic Stay and How Does It Protect Me in Chapter 7 and Chapter 13 Bankruptcy?

The Bankruptcy Automatic Stay Against Collections: The First, Quickest Benefit of Chapter 7 & Chapter 13 Bankruptcy   The Bankruptcy Automatic Stay: A Master Injunction Under Federal Law Protecting You From Creditor Harassment The Bankruptcy Automatic Stay Against Collections is one of the primary and most immediate benefits of filing for bankruptcy. It is an injunction under the Federal law of the US Bankruptcy Code which stays, or stops, nearly all collection attempts by creditors upon the filing of a Chapter ...

Posted on February 2nd, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , , ,