Category Archives: Chapter 13

Chapter 13 bankruptcies might require you to do your taxes quickly

By doug | Published: February 14, 2011

A reminder, if you are thinking about filing a Chapter 13 bankruptcy case. You might want to consider doing your 2010 taxes quickly, and not putting it off until April 15th, or heaven forbid, October. One reason is that Chapter 13 plans have to pay priority claims in full. And the priority claim that is […]

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Going to the well one more time for bankruptcy reform

By doug | Published: February 2, 2011

Its that time of year again — time to consider when and how to reform the Bankruptcy Code. Specifically, should the bankruptcy code be amended to allow judges to force creditors to accept “cramdowns” — forced modifications — on first mortgages on a debtor’s house? This idea has been floating around for years now, and […]

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Nationwide, fewer homes underwater

By doug | Published: December 14, 2010

Bloomberg is reporting that the number of homes in the United States that are “underwater,” that is, worth less than the amount owed on them is decreasing slightly. For the quarter ending September 30th, 22.5% of the homes with mortgages have negative equity. In the prior quarter, that figure was 23%. But what is causing […]

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Pre-nup won’t necessarily help you in Chapter 13 bankruptcy

By doug | Published: December 8, 2010

Can having a valid pre-nuptual agreement help you out if you later decide to file Chapter 13 bankruptcy? Maybe, but don’t count on it, at least in Massachusetts. There, one debtor pointed out that her pre-nup called for each spouse to pay their own debts during the marriage, and in particular, called for the wife […]

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New Hampshire Chapter 13 faces wide range of real estate estimates

By doug | Published: December 6, 2010

The problem of accurately estimating the value of real estate when fling a bankruptcy case is a long running theme here — its something that keeps cropping up again and again. A good illustration of this is a recent Chapter 13 bankruptcy case decided by Judge Deasy in New Hampshire. The Roy case concerns a […]

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When filing Chapter 13 bankruptcy in Massachusetts, you can’t have everything your own way

By doug | Published: December 2, 2010

Chapter 13 bankruptcy can be a very powerful tool for homeowners trying to work their way out of a mortgage problem. The thing is, Chapter 13 has its own rules to comply with, and debtors probably don’t want to thumb their nose at them. One of the rules calls for secured debts to be paid off […]

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Debtor has trouble keeping vacation property in Mass. bankruptcy case

By doug | Published: October 21, 2010

A bankruptcy case heard in Boston this past summer might make it more difficult for Massachusetts debtors to hold on to vacation property if they are filing a Chapter 13 bankruptcy case. In the Turner case, bankruptcy judge William C. Hillman ruled that the married debtors couldn’t make $430 in monthly payments on thier hunting […]

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Supreme Court to hear two bankruptcy cases

By doug | Published: October 20, 2010

It’s October, the time of year when the United States Supreme Court re-opens for business. The Court’s 2011 term will run through the end of June, and it is already known that two bankruptcy cases will be decided. More could be added to the docket as the term progresses. Because bankruptcy is a federal law, […]

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Should you be able to make monthly payments to your bankruptcy lawyer?

By doug | Published: September 16, 2010

Let’s say you have decided to file a bankruptcy case. And you have also decided to hire a bankruptcy lawyer to put together the paperwork and to represent you. Smart move. But how exactly are you going to pay attorney’s fees to hire this lawyer? Most bankruptcy clients are inherently in a catch-22 situation: they […]

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Piling interest upon interest?

By doug | Published: September 10, 2010

Here is a vexing question that stumped many bankruptcy practitioners (including law professors and judges) for a long time: In a Chapter 13 case, where the debtor is trying to catch up on a mortgage arrearage by making monthly payments to the bankruptcy trustee, must the debtor add interest to those payments? Just think, in […]

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