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Attorneys are asking that the 7th U.S. Court of Appeals reinstate a lawsuit filed by clergy sexual abuse victims so they could seek damages from a $55 million cemetery trust fund that is part of the Archdiocese of Milwaukee’s bankruptcy case.  The bitter debate, in part, relates to allegations that New York Cardinal Timothy Dolan created the trust in order to conceal or protect money from being paid to victims of clergy sexual abuse.  The case could answer this question as well as have an impact … [Read more...]

The Judicial Conference of the United States approved an amendment to the Miscellaneous Fee Schedule for bankruptcies.  This fee schedule went into effect on June 1, 2014.  Several filing fees increased including the filing fee for Chapter 7 and Chapter 13 cases.  The fee for a Chapter 7 bankruptcy case was increased from $306 to $335 and a Chapter 13 case will now require a filing fee of $310 as opposed to the old fee of $281. For more see, “Bankruptcy Court Fee Schedule.” Image credit: … [Read more...]

If you are a fan of the Coldwater Creek clothing line, you probably have already hit your local store to stock up on your favorite items before the doors close for good.  Creditors may have been stumped as to why sales at the bankrupt store surged after it filed for bankruptcy; however, anyone who loves the clothing line knows why - - shoppers fear losing a great supplier of clothing targeted to professional women.  For many customers, this is a last chance to get items they love before the … [Read more...]

Buying a home is a very serious decision and many of us take months if not years to plan and save to buy our first home.  However, if you wait too long you may pay more for your home.  Once you decide to buy a home, the process of searching for the perfect home could take many months - - this simply adds more time that you are waiting to buy a home.  Mortgage experts believe that it is the best time to buy a home. For five reasons why you should buy a home right now read, “Waiting to buy a … [Read more...]

Because each person’s financial situation is different, the answer to this question will vary for each person.  Your bankruptcy attorney will ask you several questions that will help determine if filing a bankruptcy is the best solution to your debt problem.  Your bankruptcy attorney will also advise you which chapter of bankruptcy you are qualified to file and the benefits associated with filing a Chapter 7 bankruptcy verses a Chapter 13 bankruptcy.  Having an experienced bankruptcy attorney … [Read more...]

We have all heard of “bridezillas,” right.  However, what happens when a homebuyer becomes a “monster” - - they drive their real estate nuts.  Realtors understand that the process of buying a home can be frustrating and overwhelming.  Realtors are very good at keeping homebuyers calm and focused; however, there are things that their clients do that drive them nuts such as requesting repeated showings for an entire group of people but never making an offer.  On the other hand, some clients make … [Read more...]

What seemed like a very simple bankruptcy case has become a complicated argument over rent-stabilized leases in bankruptcy.  The bankruptcy trustee argues that the lease is an asset of the bankruptcy estate and may be sold to pay off the debtor’s creditors.  However, the attorney for the debtor argues that the lease is protected by state exemption laws as a social service.  The question has been referred to the state’s Court of Appeals and the fate of where a 79-year old widow will live is … [Read more...]

About 30,000 Detroit retirees are among the 110,000 creditors that will vote on Detroit’s proposed bankruptcy plan. This is as legislators prepare to vote on a proposed state contribution to help Detroit settle its debt.  The legislation has heavy opposition and some retirees believe that none of the options provided on the customized ballot are remotely satisfactory.  The ballots are due by July 11 and no one really knows what direction the votes may take as creditors and other interested … [Read more...]

Some debtors are concerned that they will not be able to purchase a car after filing Chapter 7 bankruptcy; however, it is much easier now to do that than in years past.  While you should not buy a car until after your bankruptcy is completed and the case has been closed, purchasing a car after your bankruptcy case is closed is now a good possibility.  Because of a variety of reasons (i.e. car lots have more cars in inventory, people are keeping their cars longer creating less demand, lenders are … [Read more...]

As thousands of college graduates enter the workforce this May and June burdened with heavy student loan debt, there is new hope that they may be able to write-off student loan debt under certain circumstances.  Seven members of Congress are asking for “undue hardship” guidelines that would allow some individuals to discharge federal student loans through the filing of a bankruptcy.  By defining what constitutes “undue hardship,” more individuals may be allowed to discharge student loans when … [Read more...]