May a person contribute to 401(k) retirement plan during a Nebraska Chapter 13 case?
THE RULE PRIOR TO 2005:
Prior to the Bankruptcy Reform Act of 2005 the answer was fairly simple: No. Contributions to a 401(k) retirement plan are voluntary, and prior to 2005 it was commonly known that contributions were not “necessary” to
A new Nebraska bankruptcy court opinion (In re Torres) answers the question of whether a debtor may hold a vehicle title in trust for another person who provided the funds to purchase the vehicle.
In Torres, the debtor’s sister lived in Mexico and she transferred $42,970 to the debtor’s bank account to purchase
The 8th Circuit Bankruptcy Appellate Court (BAP) has issued a new opinion baring excessive attorney fees involved in the use of bifurcated fee arrangements in Chapter 7 cases. See In re Allen, No 20-6023.
The United States Trustee, the agency that polices bankruptcy cases, objected tot he excessive attorney fees charged by William Riding
I’ve received ten of these emails in the past year from the Babbs Law Firm based in Orlando, Florida:
“Good morning Attorney Turco,
My name is Terrylle, and I am reaching out on behalf of the Babbs Law Firm in Orlando, Florida. I found your name looking for lawyers in the Southern District of Iowa
The credit counseling profession has been turned upside down over the past 20 years. When I first started representing clients in bankruptcy cases, we would routinely refer clients to a Consumer Credit Counseling Services of Nebraska if we thought bankruptcy could be avoided.
Unfortunately, CCCSN closed in 2015 and there was no local professional left
Nebraska bankruptcy attorney Patrick Patino and had a great conversation about the hot topic of bifurcated chapter 7 fees in Nebraska.
In a traditional chapter 7 case all fees must be paid before a case is filed. Why? Because unpaid attorney fees are wiped out once a case is filed so attorneys demand that all
The controversial use of bifurcated attorney fees in Nebraska chapter 7 cases has reached critical mass. We can expect US Trustee complaints to be filed against attorneys using BK Billing and Fresh Start Funding in the near future.
Under a bifurcated fee arrangement, the bankruptcy attorney charges a small amount down to file an incomplete
Most people think the bankruptcy process is just about wiping out debt. Indeed, discharging debt is the key mission of bankruptcy.
However, there is another important goal of the bankruptcy process: ensuring fair treatment of creditors. To achieve equality of treatment the bankruptcy law empowers its Trustees to avoid payments that unfairly prefer one creditor
It costs a lot of money to go broke. The cost of filing Chapter 7 bankruptcy in Nebraska is $1,300 to $1,800 on average, and once a complete bankruptcy petition is filed attorneys are bared from collecting unpaid fees. The bankruptcy petition wipes out all debt, including unpaid legal fees associated with preparing a bankruptcy
The Nebraska bankruptcy court discharged student loan debts for a 50-year-old debtor raising a disabled grandson. See In re Mudd. The Court overruled the Department of Education’s argument that a debtor must work two jobs to meet her burden of showing undue hardship.
In discharging the student loans the Court pointed out several factors: