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Fresno Bankruptcy & Credit Blog
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Blog about Bankruptcy and Credit Issues for Those in the Fresno Area
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Judge Rimel Determines that No Discharge Necessary to Lienstrip in Chapter 13
In court today, the Honorable Whitney Rimel issued a decision from the bench in the Rossner case, No. 11-16432-A-13 (E.D. Cal.) finding that a discharge is not required for lienstripping purposes.
The issue most frequently arises where a debtor files a Chapter 7 case and then shortly thereafter files a Chapter 13 case. Section 1328(f) [...]
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Bankruptcy Attorney Marketing
I will be speaking at a bankruptcy marketing session for the California Bankruptcy Forum’s Consumer Program in May 2012. As part of that, I have been thinking extensively about consumer bankruptcy marketing concepts, especially web-based marketing. One thing that I have noticed is that it is not unusual for bankruptcy websites to cut and paste [...]
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Credit Unions Poaching Depositors from Big Banks
This is a really interesting article speculating that credit unions are poaching clients from big banks. Interestingly, it notes that the big banks may not be all that disappointed to be losing some of these customers. That being said, if this was more than just a few customers, I am sure the banks would be [...]
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Pay Your HOA Fees Post-Bankruptcy . . . or Else!
Of the many exceptions to discharge found in 11 U.S.C. Sec. 523, subsection (a)(16) is perhaps the oddest. That section limits the dischargeability of property or home owners association (“HOA”) assessments, but only for assessments that are incurred post-petition. So, anything incurred pre-petition is discharged. The section states that the bankruptcy discharge does not discharge [...]
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WSJ: Consumer Bankruptcy Filings Down 5% in July
The Wall Street Journal is reporting that consumer bankruptcy filings were down 5% in July from a month earlier. The commentary suggests that consumers are starting to get a handle on their household balance sheets. While that may be the case due to foreclosures which relieve a significant amount off the balance sheet, I think [...]
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Fresno Bankruptcy Filings Are Flat or Trending Down Slightly
Interestingly, even with the economy in such poor shape, it looks like local bankruptcy filings are staying flat or somewhat down from last year. This is only for the first quarter of the year so it is difficult to know exactly what these statistics mean for the rest of the year, but from all of [...]
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Dodgers File Chapter 11 Bankruptcy
The Los Angeles Dodgers, one of the most storied franchises in baseball, had to file Chapter 11 bankruptcy today. It will be interesting to see what happens now. Most of the time, these types of bankruptcies are to quickly structure a sale of the franchise, but it doesn’t look like the McCourts want to sell [...]
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SCOTUS Grants Cert. for Chapter 12 Tax Case
The Supreme Court granted certiorari to hear an appeal from a Ninth Circuit case involving whether a Chapter 12 debtor could essentially trap capital gains taxes in a Chapter 12 estate, and therefore, not have to pay all of the capital gains taxes. The name of the case is Hall v. U.S. and the Supreme [...]
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Three of Biggest Mortgage Servicers Get Failing HAMP Grades
The U.S. Treasury Department recently released a report on the Home Affordable Modification Program (HAMP). One of its findings was that Bank of America, JPMorgan Chase and Wells Fargo all needed “substantial” improvement. The Treasury Department was so displeased by the unsatisfactory performance that it is withholding all future financial incentives from these three titans [...]
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The Automatic Stay, a.k.a., You Can Answer Your Phone Again
One of the main reasons that people file bankruptcy is something called the “automatic stay.” The automatic stay is called that because that is what it is: (1) it goes into effect automatically upon the filing of a bankruptcy petition and (2) it operates as a “stay,” or stops, efforts to collect against a debtor. [...]
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