What if a Debtor inherited an IRA? Would the inheritance be "exempt" as a retirement fund? In the 8th and 5th Circuit the answer appears to be yes; but in the 7th Circuit the answer is no. Read how In re Clark revealed a Circuit split that only the U.S. Supreme Court can resolve.Read More
Chances are that any equity you had in your home disappeared between 2008 and 2011 and hasn't been seen since. What will happen in 2013? One thing for sure though: if a write-down is not an option many people will find themselves looking to programs like HAMP and HARP to manage their payments, and others...Read More
What happens when the property taxes of a Chapter 13 Debtor, protected by the Automatic Stay, are sold at auction? Here the Bankruptcy Court for the Northern District of Illinois, Eastern Division, had to decide whether a Chapter 13 Plan of Reorganization affects the deadline for the Debtor to redeem sold taxes. The answer is,...Read More
The Automatic Stay in Bankruptcy prevents creditors from taking action against debtors so they can get a fresh start without fighting the same battles over again. This post looks at how the Stay works in practice.Read More
Don't forget to secure a Legal Audit to ensure compliance with applicable laws, regulations, and industry best-practices. How? That's easy: contact M. Hedayat & Associates, P.C. for your Free Legal Audit. With over 18 years of legal experience under his belt, a string of start up companies to his credit, and an MBA in addition...Read More
You can find yourself in serious debt anytime. Reasons range from the interest rate on your ARM loan to unemployment, the state of the housing market, failed ventures, even natural disasters. If you're confronted by out of control debt, sudden illness, or job loss; could the resulting budget chaos threaten your home or nudge you...Read More
How does a company with $69.8 million in assets and only $9.2 million in liabilities end up filing for Chapter 11 bankruptcy protection? The answer is crime doesn’t pay, especially when you get caught hiring a hit man to make someone “stop breathing.” An Offer A Creditor Can’t Refuse…Unless Someone’s Wearing a Wire. Daniel Dvorkin,...Read More
Unemployment is stubbornly high. The recovery has nearly stalled. People's savings are low. The housing market's so-called rebound has been uneven. Since June 2011 almost a million and a half people have sought bankruptcy protection. The number of filers keeps growing (so much for the salutary effect of BAPCPA). Is there hope?Read More
Our first community seminar "Foreclosure Alternatives" will take place October 29 at 6 P.M. We will repeat the Seminar October 30 at 6:00 P.M. and Saturday, November 3, at noon. All seminars at Rasmussen College, Romeoville.Read More
