An email from a new client:

Hi Sam! Thank you for your time yesterday. A few quick questions for you.

    • After my case is filed, and everything goes through, how long does it take for my credit to repair/refresh?
    • What are most of your clients seeing?
    • Can I expect to have an industry average credit

Accident, Injury, Claim, Compensation.jpg

I had the pleasure of attending the Nebraska Association of Trial Attorneys seminar held at the Nebraska College of Law a week ago, and it got me thinking about how much trial attorneys need to understand about the bankruptcy process.  In a nutshell, here are seven things every trial attorney should understand about bankruptcy.

1. Injury


Two new court opinions were recently handed down by the 5th and 10th Circuit Court of Appeals on the issue of whether Social Security income is considered “projected disposable income” under the Bankruptcy Code.  Projected disposable income is income that must be paid over to creditors during a 3 to 5 year Chapter 13 payment plan.

In the

Chapter 13 cases involve a payment plan over 3 to 5 years.  No case may be completed in less than 3 years (unless an undue hardship exists), nor may the plan extend beyond 5 years.

Since 2005, the Bankruptcy Code now requires that debtors whose income is above the median family income levels to remain