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On April 16, 2013, Shelley Slafkes and Bruce Levitt were speakers at a live Continuing Legal Education (CLE) Seminar titled "Consumer Bankruptcy 101: Adding Chapter 7 & 13 Bankruptcy to Your Practice." As premier bankruptcy attorneys, Shelley and Bruce gave advice...
According to a recent MoneyCNN.com article, many doctors are being pushed into filing for bankruptcy protection. While many physicians are able to keep their practice going after their bankruptcy filing, for some it ends their career. According to the article , it is...
The two main types of consumer bankruptcy filings are Chapter 7 and Chapter 13. Below is a short summary explaining the differences between each type of filing. Chapter 7 You must be eligible to file a Chapter 7 case. To determine if you qualify, you must pass the...
If you are a small business owner facing financial struggles, it is likely you have incurred a significant amount of personal debt trying to keep your business afloat. It is important to seek the advice of competent bankruptcy counsel to discuss the possibility of...
All bankruptcy debtors are required by the Bankruptcy Codeto attend the meeting of creditors (also called the 341 meeting); yet in most cases, it is a very quick and painless process.. Usually the meeting does not last very long and it is fairly casual. First of all,...
Many clients don't understand why their lender would consider modifying their mortgage loan to more favorable terms to them. In short, when dealing with distressed homeowners, lenders essentially have the following choices:Loan modification. The lender and the...
In an effort to stay abreast of the most current events in bankruptcy matters, Bruce Levitt attended the National Association of Consumer Bankruptcy Attorneys 21st Annual Convention, held in San Diego on April 26-28, 2013. Some of the topics that were covered...
If you have more than one mortgage on your home and the value of your home is less than what you owe on it under your first mortgage, you may be allowed to "strip" the subordinate mortgage lien in a Chapter 13 bankruptcy. Many homeowners obtained second mortgages in...
If you are being threatened with the foreclosure of your home, it might be time to consider filing for bankruptcy protection. As soon as you file your bankruptcy case, the automatic stay is effective. The stay prohibits any collection activity, including a foreclosure...
Individuals filing for bankruptcy protection most commonly file under Chapter 7 or Chapter 13. Check back with us to learn more about Chapter 13. This blog will focus on the advantages of a Chapter 7 filing:Discharge of unsecured debts. Most personal debts are...