April 30, 2009 by senatus Senators have defeated an amendment offered by Senator Dick Durbin (D-IL) to the Helping Families Save Their Homes Act (S. 896) by a vote of 45 to 51. It was subject to a 60-vote threshold. This is the so-called “cramdown” amendment which would allow bankruptcy judges to modify mortgage terms […]
U.S. Senate Votes Against Mortgage Modification Cramdown Read More »
“Article I, Section 8, of the United States Constitution authorizes Congress to enact “uniform Laws on the subject of Bankruptcies.” Under this grant of authority, Congress enacted the “Bankruptcy Code” in 1978. The Bankruptcy Code, which is codified as title 11 of the United States Code, has been amended several times since its enactment. It
Bankruptcy Basics From The U.S. Courts Read More »
First and foremost in most people’s minds is they want peace of mind. Yes, the filing of a bankruptcy case will stop the creditors’ harassment. If creditors continue harassing the debtor after his or her bankruptcy case is filed, the creditor can be sued in bankruptcy court for money damages. Most good people need to
Why File Chapter 13? Does Filing Bankruptcy Stop The Harassment? Read More »
This article is limited to a cram down of an automobile, such as a car or truck in a Chapter 13 bankruptcy case. The Bankruptcy Code in its current version has at least two statutes for Chapter 13 cram downs. The first statute is 11 U.S.C. Section 506. This section allows the debtor to repay
Cram Down In A New Light: What Does It Mean Under The New Law? Read More »
