I have noticed a trend lately that Chapter 7 bankruptcy trustees have been asking to see the signed ECF Declaration at the 341 meeting of creditors. This is not an item that is listed as required on the Form B9A for presentation at the meeting. Further, this is a filed document that trustees can access just as they access the filed petition. I believe that questioning the debtor under oath with regard to the petition and the schedules along with an affirmation that the documents were in fact signed, should be sufficient. Again, this is a filed document. Why should the debtor or attorney for debtor be asked to produce it at the meeting of creditors? I write this blog post in an effort to improve and enhance the bankruptcy filing process, not to criticize it. I strive for improvements and predictability for my clients and for the process as a whole.
Consult with an experienced bankruptcy attorney to learn your rights. Feel free to contact David M. Siegel
Memorial Day, originally called Decoration Day, is a day of remembrance for those who have died in our nation’s service. As we remember those who have died for our freedoms and those who continue to serve our nation, let’s remember that we have the freedom to be DEBT FREE!
You have a biblical right to absolve yourself of your debts according to the bible. Remembering our service men and women who have also made the ultimate sacrifice of their lives so that we are FREE should inspire us all to take action in our lives to live as free people. Free from being a slave to debts by filing bankruptcy would be an honor. E
Are you struggling to pay off student loans? Well, you’re not alone.
Student loan debt has surpassed credit card debt for the first time, as a growing number of Americans take out loans to go to school. According to the New York Times, the amount of student loan debt is well on its way to over one trillion dollars.
Student loans have often been described as good debt by some educators and economists. “When you think about what’s good debt and what’s bad debt, student loans fall into the realm of good debt, like mortgages,” Professor Sandy Dynarski, an education and public policy professor at the University of Michigan, told the Times. “It’s an investment that pays off over the whole life cycle.”
But with education costs rising every year and student aid cuts in the federal and state budgets, graduates are leaving school with drastically more debt than they did just ten years ago. In 2000, total
Filing for bankruptcy should not be a cavalier decision as it will affect you and your future in many ways. Before seriously considering bankruptcy you should understand a few things. For one thing, a bankruptcy declaration does not always eliminate all your debts. Also, there are several forms of bankruptcy, but the most common are Chapter 7, Chapter 11, and Chapter 13. The chapter refers to the part of the United States Code governing the various bankruptcy proceedings.
Chapter 7 Bankruptcy Declarations
A Chapter 7 Bankruptcy is also known as a liquidation. Under the proceedings outlined for Chapter 7 Bankruptcy, all valuable property owned by the debtor must be turned over to a court trustee. Once deeds, titles, and proof of ownership are turned over to the court, the trustee sells, or liquidates, them and distributes the proceeds among the creditors according to the percentage of income each was owed before the declaration. Read more…
17 Jun
Posted by: Aaron Dugdale in: Bad Credit News
Affiliated entities Linden Ponds, Inc. and Hingham Campus, LLC voluntarily filed for chapter 11 protection earlier today in Dallas. The companies, which are related to Senior Living Retirement Communities LLC (formerly known as Erickson Retirement Communities, LLC), operate Linden Ponds which is a 108-acre continuing care retirement community located inHingham, Massachusetts (approximately 20 miles outside of Boston). As of March, the community had (a) 988 completed independent living units, 5 of which are units utilized for guest rooms and services, 869 of which are occupied units, resulting in an 87.9% occupancy rate of independent living units; and (b) 132 skilled nursing beds, of which 90 are occupied by residents, resulting in a 68% occupancy rate. However, upon completion of the facility (which opened in October 2004), it is expected to have up to 1,705 independent living units and 228 assisted living and skilled nursing beds. Hingham Ca
Clients frequently ask me is how long his or her bankruptcy will take. Even though the question is simple, the answer is not so easy to answer. So, let me explain.
In every bankruptcy case, there is a lot of information I will need from you before I can ever sit down to prepare your bankruptcy petition. The petition contains information about your income, assets and liabilities. This means you have a big job ahead of you to gather all documents related to your financial world. I call this your “home work.”
Assets are basically anything you own or have a right to. Some assets are fairly obvious such as money in your bank account, your car, home, etc. But assets also include any claims you may have against someone else (e.g., personal injury claim) and anything you may be entitled to in the future, e.g., a life insurance policy or tax refund.
Liabilities include anyone you owe money to, and it also includes anyone that has a claim against you. Thi