North East Texas Bankruptcy Lawyer Explains Chapter 7 Bankruptcy

A “Fresh Start” bankruptcy is available in Chapter 7. Chapter 7 is designed for individuals who are called debtors who do not have sufficient income or property to pay their debts along with ordinary household or business expenses. Under Chapter 7, individuals domiciled in Texas may choose Texas or Federal exemptions. The exemption laws exist …

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Sulphur Springs Lady Discharges Nearly $70,000 In Sallie Mae & TERI/NCT Student Loans In Chapter 7 Bankruptcy Adversary Proceeding

My client, seventy (70) year old Sulphur Springs Texas resident, working full time at a local department store sought Chapter 7 bankruptcy protection from Sallie Mae and TERI/NCT, student loan creditors. (TERI stands for The Education Resources Institute; NCT means National Collegiate Trust). A discharge under Chapter 7 or Chapter 13 does not discharge student …

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SUPREME COURT TO HEAR ISSUE: IN CALCULATING DISPOSABLE INCOME FOR CHAPTER 13 SHOULD COURT CONSIDER ACTUAL INCOME/EXPENSES OR LIMIT INQUIRY TO HISTORICAL FIGURES?

ISSUE: IN CALCULATING DISPOSABLE INCOME FOR CHAPTER 13 SHOULD COURT CONSIDER ACTUAL INCOME/EXPENSES OR LIMIT INQUIRY TO HISTORICAL FIGURES? Hamilton v. Lanning Argued: 3/22/10 No. 08-998 Court Below: 545 F.3d 1269 (10th Cir. 2008) [Summarized by: Cameron Soran] Full Text: http://www.scotusblog.com/wp-content/uploads/2009/10/08-998_ca10.pdf BANKRUPTCY (Whether when calculating the debtor’s projected disposable income during the plan period, the …

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Man sues Kentucky law firm over debt collection letter

Source: Credit and Collection News www.wvrecord.com Mar. 10, 2010 | West Virginia’s Legal Journal News > Federal Court Man sues Ky. law firm over debt collection letter 3/9/2010 7:54 PM By Kelly Holleran -Monongalia Bureau MORGANTOWN – A man has filed a putative class action lawsuit against the Kentucky-based law firm that he says illegally …

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The Legal Professional: US bankruptcies rise in 2009

Source: Credit and CollectionNews.com (The Legal Professional) Wednesday 10 March 2010 The USA lumps all kinds of insolvency proceedings under the single heading of “bankruptcy” and so its headline figures are misleading. But behind the headline figure – that there was a near-30% increase in 2009 as against 2008, there are some trends that indicate …

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DEBT COLLECTORS PAY MORE THAN $1 MILLION TO SETTLE FTC CHARGES

DEBT COLLECTORS WILL PAY MORE THAN $1 MILLION TO SETTLE FTC CHARGES SOURCE: CreditAndCollectionNews.com A nationwide debt collector has agreed to pay a civil fine of more than $1 million to settle Federal Trade Commission charges that it violated federal law by inaccurately reporting credit information and pressing consumers to pay debts they often did …

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4TH CIRCUIT AFFIRMS REJECTION OF RIDE-THROUGH In re Jones 4th Cir. Jan 11 2010

4TH CIRCUIT AFFIRMS REJECTION OF RIDE-THROUGH In re Jones 4th Cir. Jan 11 2010 From: http://morganking.com/academyfolder/thisweekhotwire.htmL The chapter 7 debtor did not elect any of the options available for a purchase-money security interest in his car, to wit, redemption, reaffirmation, or surrender. The holder of the Purchase Money Security Interest (“PMSI”) (Daimler/Chrysler) repossesed the car. …

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Chase Home Finance Filing False Affidavits And Payment History For Mortgage Motion Relief From Stay

From:http://morganking.com/academyfolder/thisweekhotwire.htmL COURT LETS CASE AGAINST CHASE FOR FRAUD ON THE COURT TO PROCEED In re Woodruff Case no. 02-81159 (Bkrtcy.M.D.Ark Jan. 27 2010) Chapter 13 Debtors were in default on their mortgage A plan was approved permitting debtors to Continue making the monthly mortgage payment directly, and Make delinquency payments through the plan Chase moved …

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