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More than 12,000 bankruptcy cases have been filed in U.S. Bankruptcy Court in the Eastern District of Wisconsin this year, representing a 38 percent increase through October of last year.
In fact, filings have been coming in at a rate of nearly 30 a day.
But that’s not the real bad news.
According to Wisconsin bankruptcy Judge Margaret [...]
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The discharge of credit card debt, usually the single biggest component of a debtor’s unsecured debt, is dependent on the transactions on the card being free of fraud. The Bankruptcy Code excepts from discharge debts incurred by fraud, false representations or false pretenses.
Not one of my clients sees their credit card useage as fraudulent. In [...]
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The three auto makers went to Congress asking for bailout funds while a good portion of Americans are on the verge of bankruptcy. I don’t know about you but I have a hard time feeling sad for a CEOs who are not willing to start the cut backs at the top from the financial waste that [...]
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The U.S. Court of Appeals for the Eighth Circuit ruled in August 2008 that section 522(o) of the bankruptcy code allows pre-bankruptcy “exemption planning” in the manner as was allowed prior to the enactment of section 522(o). This decision, In re Addison, 540 F.3d 805 (8th Cir. 2008), addressed, among other things, the effect of section [...]
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The president of Consumer Reports has taken the bold step of calling for fundamental changes in the U.S. economy.
Consumer Reports is published by Consumer Union, the world’s largest independent consumer-product-testing non-profit organization. They do not accept paid advertising and make money through subscriptions and donations.
Jim Guest, president, in his December 2008 editorial calls for certain reforms [...]
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In baseball, a well-known play is called the ‘walk’. When the pitcher throws the ball outside the strike zone and the batter doesn’t swing, it is called a ‘ball‘. Four ‘balls’ and the batter gets to walk to first base. Chrysler Credit has thrown its third ball in Bankruptcy Court in Connecticut this past week. [...]
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Before the 2005 bankruptcy amendments, in rem orders were a somewhat common method of thwarting serial bankruptcy filers. As one court put it:
An order granting in rem relief from stay is an appropriate remedy when a debtor or transferee of a debtor serially files bankruptcy petitions solely to invoke the automatic stay. In rem [...]
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On Thursday, November 6th, the Honorable Robert L. Krechevsky, U.S. Bankruptcy Judge for the District of Connecticut, of West Hartford, died at his home. He was appointed by President Carter as a judge of the U.S. Bankruptcy Court for the District of Connecticut based in Hartford in 1978. Judge Krechevsky served the court for 30 [...]
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The Southern District has recently changed course, lowering the amount of sanction damages against creditors that divulge social security numbers to the world to capture and use for identity theft. While social security numbers must be redacted in all proof of claims submitted in Bankruptcy Courts, frequently they are not. As a result, creditors break [...]
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Doan Law Firm just obtained an award against Countrywide Financial for $55,220.00 with additional sanctions of $500.00 per month for each month they fail to comply with a Bankruptcy Court Order, arising from improper conduct related to a mortgage discharged in a Bankruptcy Case. Judge Meyers, of the Southern District of California signed the Court Order on October [...]