A California couple and the Bank of America are reportedly at a settlement over a bankruptcy case that resulted from the Great Recession of 2008. This case involved a couple who tried to negotiate with the bank to bring down the price of their monthly mortgage payments, only to be strung along and eventually [...]
A couple filing a petition pro se (without a lawyer) recently had their case dismissed and their petition for bankruptcy denied. This was the ruling and determination of the Bankruptcy Appellate Court for the 9th Circuit Court of Appeals in In Re Chantel. This case is an example of how valuable and important it is [...]
A large multi-national bank was recently sued in California over claims that it failed to act properly in the wake of declared bankruptcies. According to reports, the suit was filed in federal court in Los Angeles in late June, and makes a number of claims under California and federal bankruptcy laws. The primary claims [...]
The Supreme Court usually decides a few cases each term that have an impact on bankruptcy law, and this year is no exception. One of the decisions, Midland Funding, LLC v. Johnson, concerns the issue of stale debts and when they can be incorporated into a Fair Debt Collection Practices Act, as an unfair [...]
The Ninth Circuit Court of Appeals recently decided a novel bankruptcy issue which will impact how the government encumbers and auctions off property with back taxes due. The case, RW Meridan LLC v. County of Imperial Treasurer-Tax Collector, sets an important precedent for California Bankruptcy cases. The decision came on the side of the debtors [...]
There are few laws on the books in the United States that are as important as our bankruptcy laws. They work as a way for people who find themselves in difficult circumstances to find relief from financial obligations and gain some breathing room in life. By declaring bankruptcy, a debtor is able to erase most, [...]
In a rare situation for bankruptcy cases, a judge handed down a punitive fine against a bank on behalf of a debtor who was treated wrongly in the bankruptcy proceedings. In the case, Bank of America was given punitive damages by a bankruptcy judge to the tune of $45 million. In its opinion explaining [...]
Stale debt is a term used to describe a debt that is no longer collectable because the statute of limitations has run out on it. The statute of limitations on collecting debt varies from state in state, and in California it is four years on paper debt and two years for oral contracts. When a [...]
A California bankruptcy court recently issued an opinion on bankruptcy laws that cleared the air on how a Chapter 13 plan should work under the Bankruptcy Code. This case actually involved five different debtors who, after successfully declaring bankruptcy and going through the process, tried to discharge their debts early by shortening the length of [...]
The reason why the bankruptcy laws exist as they do is to offer people who are in over their heads a fresh start. This can be a boon that those who have benefited from its use can understand and appreciate. One of the great benefits of the Bankruptcy Code is that protections exist to help [...]
