Online Bankruptcy Education is a pre-discharge bankruptcy counseling session that is required for all consumers who have filed for bankruptcy and who have received a bankruptcy case number. You must complete either a face-to-face session, telephone session, or online session within 45 days of your “341 Meeting of Creditors” (hearing). The counseling session will help the individual understand: Budget Development, Money Management, Wise Use of Credit, Consumer Protection Laws, and Consumer Resources. Pre-Discharge Bankruptcy Education Class, which differs from Pre-Filing Bankruptcy Counseling, is designed to help the consumer in regards to future money management and financial accountability. It will give the individual objectives to help empower them with effectively managing their money in the future and to not repeat previous financial mistakes.
Source: advantageccs.org
Video: Part 1: Legal Aid: Bankruptcy
Bankrupt Texas College Plans Fall Classes
Lon Morris College was founded in 1854 as the New Danville Masonic Female Academy in Kilgore, Texas. Over the years, the school not only changed its name, but changed its location as well. The college was moved to its present location in 1909, and the name was changed to its current name to honor R.A. Lon Morris, who gave his estate to the school. This college is the only surviving pre-Civil War school in Texas.
Source: texasbankruptcynow.com
Truth About Bankruptcy and Who Owns Your Mortgage Classes
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Source: mississippibankruptcyhelp.com
Benesch Class Action Update
Countrywide also argued that the Bankruptcy Court adopted an improper class definition by certifying a “fail-safe class.” A fail-safe class is a class whose membership can only be ascertained by determination of the merits of the case, as the class is defined in terms only of liability; the class definition is framed as a legal conclusion. The Fifth Circuit rejected Countrywide’s argument outright, holding that it “rejected a rule against fail-safe classes” in previous decisions, and reaffirmed its conclusion in this case. The Fifth Circuit’s refusal to establish a rule prohibiting fail-safe classes is at odds with other Circuits, including the Sixth and the Seventh Circuits, that do not allow fail-safe classes. (Although the Sixth Circuit recently rejected an argument regarding fail-safe classes in
Source: beneschclassactionupdate.com
Can I File For Bankruptcy For Free?
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Source: usbankruptcyadvice.com
Ogden, Utah Bankruptcy Lawyers Shares Tips on Credit Counseling
Ogden, Utah (September 24, 2012) ? The Ipson Law Firm, PLLC, a well respected firm of bankruptcy lawyers in Ogden, Utah, shares tips on credit counseling classes for people who are considering filing for bankruptcy. Their website also explains why the people need this class, what to expect in a credit counseling class, as well as recommendations from the firm?s satisfied clients.
Source: typepad.com
Just how long It Takes to Declare For Bankruptcy
In a Chapter 7 Personal bankruptcy, you will receive your discharge approximately 75 days right after your Section 341 Meeting of Creditors. In a Part 13 bankruptcy, you will receive your discharge after you have successfully completed your Chapter 13 Plan. The particular Discharge is the document issued by the Bankruptcy Court that officially relieves you of your dischargeable debt. Take note that some debts cannot be discharged in a personal bankruptcy. Examples of non-dischargeable debts include most student education loans, most taxes and other debts owed towards the government, child support obligations, and debts which were not included in a Chapter 13 plan. Your own attorney will advise you concerning which of your debts is going to be discharged and which debts will not.
Source: about0.com
Plan Accordingly: After Finding “Artificial” Impairment, Court Finds Plan Proposed In Bad Faith
(A) cures any such default that occurred before or after the commencement of the case under this title, other than a default of a kind specified in section 365(b)(2) of this title or of a kind that section 365(b)(2) expressly does not require to be cured; (B) reinstates the maturity of such claim or interest as such maturity existed before such default; (C) compensates the holder of such claim or interest for any damages incurred as a result of any reasonable reliance by such holder on such contractual provision or such applicable law; (D) if such claim or such interest arises from any failure to perform a nonmonetary obligation, other than a default arising from failure to operate a nonresidential real property lease subject to section 365(b)(1)(A), compensates the holder of such claim or such interest (other than the debtor or an insider) for any actual pecuniary loss incurred by such holder as a result of such failure; and (E) does not otherwise alter the legal, equitable, or contractual rights to which such claim or interest entitles the holder of such claim or interest.
Source: weil.com
Cramdown Plan of Reorganization in a Commercial Real Estate Case
, 465 B.R. 525 (B.A.P. 9th Cir. 2012), the Bankruptcy Appellate Panel of the Ninth Circuit upheld a Bankruptcy Court decision that a secured lender’s unsecured deficiency claim could be separately classified from the claims of other unsecured creditors. The decision paves the way for confirming a cramdown plan of reorganization against the lender’s opposition. In the case, the borrower was a single asset real estate debtor. The court focused on the lender’s access to third-party guarantees to support an evidentiary conclusion that its claim was not substantially similar to other unsecured creditors.
Source: sbkass.com
Bankruptcy & Foreclosure: Class Action against Countrywide for improper fees allowed to go forward
Application for Compensation or Reimbursement. An entity seeking interim or final compensation for services, or reimbursement of necessary expenses, from the estate shall file an application setting forth a detailed statement of (1) the services rendered, time expended and expenses incurred, and (2) the amounts requested. An application for compensation shall include a statement as to what payments have theretofore been made or promised to the applicant for services rendered or to be rendered in any capacity whatsoever in connection with the case, the source of the compensation so paid or promised, whether any compensation previously received has been shared and whether an agreement or understanding exists between the applicant and any other entity for the sharing of compensation received or to be received for services rendered in or in connection with the case, and the particulars of any sharing of compensation or agreement or understanding therefor, except that details of any agreement by the applicant for the sharing of compensation as a member or regular associate of a firm of lawyers or accountants shall not be required. The requirements of this subdivision shall apply to an application for compensation for services rendered by an attorney or accountant even though the application is filed by a creditor or other entity. Unless the case is a chapter 9 municipality case, the applicant shall transmit to the United States trustee a copy of the application.
Source: blogspot.com
Bankruptcy & Divorce: Which to File First?
Taught by Dianna McDaniel (Bankruptcy and Family Law Attorney) and Jennifer Keaton (Divorce Mediator and Attorney), this seminar is limited to eight participants and provides an informal setting where good information is provided and questions are encouraged. The seminar will provide an overview of the divorce process and the bankruptcy process, and also cover:
Source: patch.com