News:  New York Times Article Highlights Problems of Foreclosure and Loan Modification
News: New York Times Article Highlights Problems of Foreclosure and Loan Modification

An article in the New York Times published on June 29, 2009, highlights the confusion, difficulty and frustrations in attempting to modify your mortgage and avoid the loss of your home in a foreclosure.    See the article at http://www.nytimes.com/2009/06/29/business/29loanmod.html?ref=us.

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Some Receipts Not Counted as Income in Chapter 7 or Chapter 13 Bankruptcy Cases
Some Receipts Not Counted as Income in Chapter 7 or Chapter 13 Bankruptcy Cases

A main issue in any Chapter 7 or Chapter 13 Bankruptcy case is the calculation of what is known as "current monthly income".    This issue is the often the most important one in determining whether a debtor qualifies for...

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Fifth Circuit Allows Deduction for Transportation Ownership for Debtor with No Loan Payment
Fifth Circuit Allows Deduction for Transportation Ownership for Debtor with No Loan Payment

A continuing issue in consumer bankruptcy cases in Chapter 7, 11 and 13, is the manner in which automobile expenses are treated in the calculation of "current monthly income".   As with many aspects of the Bankruptcy Abuse Prevention and Consumer...

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Where is a Bankruptcy Case filed in New Jersey?
Where is a Bankruptcy Case filed in New Jersey?

A common question we get is "where will my case be filed"?  Bankruptcy cases arise from the Federal Bankruptcy Code and therefore are heard and prosecuted in Federal Courts. In legal terms, this is called "jurisdiction". "Venue" is the legally...

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Checklist:  Tax Planning for Individuals filing Chapter 7, Chapter 13, or Chapter 11 Bankruptcy
Checklist: Tax Planning for Individuals filing Chapter 7, Chapter 13, or Chapter 11 Bankruptcy

The following is a short checklist of Tax Planning and Practice Strategies which may be followed by an attorney for an Individual considering the filing of a Chapter 7, Chapter 13, or Chapter 11 Bankruptcy. 1.  Whether to File a Bankruptcy Case? The...

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Update and Comment: New Jersey Foreclosure Mediation and Bankruptcy
Update and Comment: New Jersey Foreclosure Mediation and Bankruptcy

Yesterday, we posted information on the press release issued by the New Jersey Bankruptcy Court regarding the New Jersey Foreclosure Mediation Program and Bankruptcy Debtors which was posted online at http://www.njb.uscourts.gov/notice/2009_02_04_foreclosure.pdf.   In that post, there was reference to a General Order...

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Update on New Jersey Foreclosure Mediation and Bankruptcy Debtors
Update on New Jersey Foreclosure Mediation and Bankruptcy Debtors

The New Jersey Bankruptcy Court issued the following press release regarding the New Jersey Foreclosure Mediation Program and Bankruptcy Debtors.  The information may also be viewed at http://www.njb.uscourts.gov/notice/2009_02_04_foreclosure.pdf. Information for Bankruptcy Debtors and Others Concerning The New Jersey Judiciary Foreclosure Mediation...

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Chapter 7 and 13 Consumer Bankruptcy and Tax Returns
Chapter 7 and 13 Consumer Bankruptcy and Tax Returns

When the Bankruptcy Code was changed in 2005, significant changes were made to the tax return filing requirements for Chapter 7 and Chapter 13 consumer bankruptcy debtors.   The changes increased the need for a Debtor and their counsel to...

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Sheriff’s Sale Adjournments after filing Chapter 7 or Chapter 13 Bankruptcy in New Jersey
Sheriff’s Sale Adjournments after filing Chapter 7 or Chapter 13 Bankruptcy in New Jersey

When a Chapter 7 or a Chapter 13 Bankruptcy is filed and a Sheriff's Sale of a property is scheduled, New Jersey Law does not necessarily require that the mortgage company cancel the Sheriff's Sale.  Instead, the Plaintiff may adjourn...

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Under Pennsylvania Law Anti Modification Provision of Section 1322(b)(2) Does Not Prevent Mortgage Modification Where Mortgagee’s Security Interest in Mobile Home Was Additional Collateral
Under Pennsylvania Law Anti Modification Provision of Section 1322(b)(2) Does Not Prevent Mortgage Modification Where Mortgagee’s Security Interest in Mobile Home Was Additional Collateral

The issue presented to the Court in Jordan v. Greentree Consumer Disc. Co. (In re Jordan), 2009 Bankr. LEXIS 583, 42-43 (Bankr. W.D. Pa. Mar. 27, 2009) was whether the an Section 1322(b)(2) of the United States Bankruptcy Code prevented...

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