The very hot topic in Nebraska bankruptcy courts these days center around how courts apply changes to the homestead exemption law enacted in 2014.
The exemption protects up to $60,000 of equity in a debtor’s home, but the question is whether the exemption is limited the home or to the debtor. In the case
I read this comment from another bankruptcy attorney today:
“Help me understand why the home value (Z)estimates from a company that lost nearly $1 billion of its own money by relying on those (Z)estimates to play in the house flipping market are reliable.”
Home values provided by Zillow are important in bankruptcy cases, even if
An email from a client (edited to preserve confidentiality):
“Good morning. On October 31, 2022, [my husband] had to have surgery to remove his gallbladder. The hospital is requiring payments of approximately $400 a month on the $5,049.97, a sum I am unable to accommodate with our budget. My husband’s income makes us ineligible for
There is a marriage penalty in bankruptcy law. Unmarried couples receive favored treatment, especially on the six-month income calculation called the Means Test.
A married debtor who lives with his or her spouse must list all gross income of their spouse on the income schedules. However, an unmarried debtor who lives with a partner must
One of these days I’m going to write a post on how shitty we treat married couples in this county. From a financial perspective, is it better to be married or to shack up? I’m going to write a list. There are some legal benefits to being married, but from what I see its more
The Massachusetts Attorney General recently settled a major consumer fraud case against subprime auto lender Credit Acceptance Corporation.
The case is long and complicated, but the issue that caught my eye is the argument about the true purchase price of a vehicle.
For example, assume a dealer sells a vehicle for $10,000 and the buyer
Chapter 13 cases are three to five year payment plans. Creditors receive a monthly payment based on a debtor’s ability to pay, the type of debts they owe, and the amount of unprotected property they own.
But how does one make the payment? Who do you pay?
Chapter 13 payments are paid to the Chapter
Financial writer Liz Weston (@LizWeston) writes that many people who could benefit from bankruptcy don’t file because of fear and misplaced optimism. See Fear of Bankrutpcy Holds Too Many People Back.
This is the second time that Liz Weston has suggested that more people consider filing bankruptcy (Do Debt Management Plans
Presidential candidate Joe Biden recently came out in support of Senator Elizabeth Warren’s bankruptcy reform plan, which is somewhat embarrassing because she is basically proposing to nullify the Bankruptcy Reform Act of 2005 championed by Biden.
Our nation is at the beginning of a COVID-19 Recession that, once again, is dragging the bottom
Lower-income debtors simply cannot afford the high cost of filing chapter 7, and that is a real problem when garnishments strike.
The cost of filing Chapter 7 in Nebraska ranges from $1,300 to $1,800 and ALL of those fees must be paid in full to file a case. How can low-income debtors stop garnishments