The Law

Schwab: Exempting 100% Interest in Asset

AyobamiOfficial Form 106Cs Schedule C: The Property You Claim as Exempt, effective December 1, 2015, permits debtors to remove assets from the estate unless the trustee objects and proves the property is worth more than “any applicable statutory limit.” Judge Marvin Isgur of the Southern District of Texas approved of the new form’s Schwab option …

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BANKRUPTCY PROTECTION FROM FOREIGN CREDITORS

Does bankruptcy protect me against debts from other countries? By David Leibowitz, Illinois and Wisconsin Bankruptcy Attorney on Jun 21, 2009 in General Bankruptcy Information Clients frequently face debts from countries other than the United States. If you file a bankruptcy case in the United States, what is the effect on your debts from overseas? …

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U.S. Senate Votes Against Mortgage Modification Cramdown

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 …

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Why We Have The Bankruptcy Law

Bankruptcy law is a safety net to give honest people a “fresh start” or an opportunity to “reorganize their debts.” Bankruptcy is more powerful than any non-bankruptcy bill consolidation proposal. Bankruptcy is the law. The bankruptcy law specifies what “relief” you are entitled to, provided you follow a few, short rules. I counsel people and …

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