Michigan Bankruptcy Blog

US Supreme Court OKs Stale Chapter 13 Bankruptcy Proofs of Claim

US Supreme Court OKs Stale Chapter 13 Bankruptcy Proofs of Claim

Proofs of Claim Not Subject to FDCPA Damages in Magical Bankruptcy Land Proofs of Claim for Debts Prohibited by Statute of Limitations Allowed in Chapter 13 Proofs of Claims filed by debt buyers or other collectors seeking to be paid from Chapter 13 bankruptcies for debts that are past individual states' statute of limitation periods are not subject to penalties under the Fair Debt Collections Practices Act ("FDCPA"), says the US Supreme Court. Despite the fact that those ...

Posted on May 25th, 2017 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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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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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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Can I Discharge an SBA Loan in Bankruptcy?

Discharge an SBA Loan in Bankruptcy Like Any Other Unsecured Debt [caption id="attachment_2956" align="aligncenter" width="300"] Image by Lothar1976, courtesy of Wikimedia Commons[/caption] SBA Loans: Not Excepted from Discharge by The Bankruptcy Code Unless a debt is one of the specific types of debt specifically excepted from the Chapter 7 or Chapter 13 bankruptcy discharge by Section 523 of The Bankruptcy Code (the Federal law governing the bankruptcy process in the U.S.), it is dischargeable. Among the non-dischargeable debts ...

Posted on October 13th, 2014 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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Congressional Democrats Aim for Real Bankruptcy Reform

Separate Bills Introduced to Make Private Student Loans Dischargeable Again and to Specially Treat "Medical" Bankruptcies Getting the Attention the Consumers Deserve Two separate pieces of legislation are being introduced by Senate Democrats that will, despite long odds of becoming law in a Congress dominated by pervasive and bi-partisan financial industry lobbying, at least help to re-focus attention on the damage done to the U.S. Bankruptcy Code by the BAPCPA bankruptcy "reform" amendment to the Code in ...

Posted on June 26th, 2014 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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Stop Foreclosure with Chapter 13 Bankruptcy if Not on the Mortgage?

Even if Not on the Mortgage Note, You Can Still Cure a Claim Against Your Property in Chapter 13 Bankruptcy [caption id="attachment_2706" align="aligncenter" width="300"] Image by respires, courtesy of Wikimedia Commons[/caption] First: Some Important Information about Liability in Mortgage Purchases ... The situation in which a homeowner might find themselves faced with foreclosure without actually being a signatory on the mortgage note being accelerated is not a common situation necessarily, but it does happen. Why would it? There are many ...

Posted on May 17th, 2014 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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Chapter 13 Bankruptcy and Home Equity Loans: Stopping Payment Reset

Chapter 13 Bankruptcy and Home Equity Loans: Interest-Only Repayment Periods End in Large Number in 2014 [caption id="attachment_2673" align="aligncenter" width="199"] Image by Nevit Dilmen courtesy of Wikimedia Commons[/caption] Chapter 13 Bankruptcy Can Strip Off or Modify a Maturing HELOC or Balloon Payment While a Chapter 7 bankruptcy is a highly effective means of surrendering or walking away from real estate that you can no longer afford, a Chapter 13 bankruptcy will help you save real estate from foreclosure ...

Posted on April 25th, 2014 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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What Happens if I Win the Lottery While in Chapter 13 Bankruptcy?

First of All, There Are Bigger Problems to Have in Life ... [caption id="attachment_2636" align="aligncenter" width="300"] Image by Bartosz Senderek, courtesy of Wikimedia Commons[/caption] Regardless, Questions About Winning a Lottery While in Chapter 13 Bankruptcy Are Common ... This is easily in the top 5 of most common questions potential clients ask us when sitting down with us to explore the possibility of filing a Chapter 13 bankruptcy. We love the optimism  involved, no question about it, but the ...

Posted on March 15th, 2014 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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When Your Chapter 13 Bankruptcy Isn’t Working For You Anymore …

Chapter 13 Bankruptcy: Not A Cage From Which There Is No Escape Chapter 13 Bankruptcy: A Flexible System That Can Change With Your Needs The idea of a 3-5-year payment plan is intimidating to many prospective Chapter 13 bankruptcy filers. Never mind that many people willingly take on 6 or even 7-year auto loan payments these days; the idea of being obligated to repay something, even if only what you can afford to pay, to your creditors ...

Posted on February 5th, 2014 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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Holiday Spending and Bankruptcy: Some Call it Fraud

You May Be Visited by 3 Ghosts: Non-Dischargeability, Denial of Discharge, and Criminal Penalties ... [caption id="attachment_2465" align="aligncenter" width="300"] Image by Kelvin Kay, courtesy of Wikimedia Commons[/caption] Pre-Bankruptcy Spending: Don't Risk Your Discharge The instinct to just take any hit necessary to get the gift-buying many of us feel obligated to at this time of the year is a powerful one. "I'll just get Aunt Sally taken care, then I'll worry about the credit card later on in the ...

Posted on December 6th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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