The Illinois Bankruptcy Lawyer Blog

Entries categorized as ‘automatic stay’

This is how you spend your money …

July 20, 2009 · 1 Comment

Where it all goes ...

Where it all goes ...

This chart was complied and published by Visual Economics

Categories: Administrative Office of the Courts · Census Bureau · Congress · IRS · Middle class · administrative · aoc · article · automatic stay · automobile · bad faith · bailout · bank · bankruptcy · ch 13 · ch 7 · consumer · credit · credit cards · credit counseling · creditor · crisis · current-events · disposable · economy · estate · estate planning · foreclosure · income · individual · interest · investments · means test · median income · non-debtor spouse · pay advices · plan · reaffirmation · research

for the last time, NO mortgage modification in bankrupcty!

May 2, 2009 · 2 Comments

On March 30 Congress made it official. H.R. 200, the “Helping Families Save Their Homes in Bankruptcy” Act of 2009 was put down once and for all by a narrow margin in the Senate.

Pity. It turns out the Act would have gone a long way towards leveling a very uneven playing field. You can read about some of the (relatively) radical aspects of the bill in this summary from govtrack.us.

Now for the last time, stop fantasizing that the Federal Government is going to save your house and just hire a bankruptcy lawyer already.

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Categories: CA · Congress · Middle class · assets · automatic stay · bailout · bankruptcy · blogging · bubble · ch 13 · cramdown · current-events · debt · economy · estate · foreclosure · judge · legislation · means test · mortgage · plan · property · real property · research · sale · short sale
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Northern District Triple Play

October 6, 2008 · Leave a Comment

seal of the bankruptcy court

seal of the bankruptcy court

In re Stamat, 07-13379
U.S. Trustee v. Stamat, 07-01278
Issued September 24, 2008
Judge Jack B. Schmetterer
View and Download the Opinion in PDF format here

In re Gage, 07-06876
Issued September 17, 2008
Judge John H. Squires
View and Download the Opinion in PDF format here

In re Cramer, 08-3853
Issued September 12, 2008
Judge A. Benjamin Goldgar
View and Download the Opinion in PDF format here

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Categories: BAPCPA · ED · IL · ND · adversary · assets · automatic stay · bad faith · bankruptcy · case update · ch 13 · ch 7 · cir 7 · consumer · creditor · current-events · data · discharge · dismissal · disposable · goldgar · income · individual · schmetterer · squires

bright spots? what bright spots?

July 29, 2008 · Leave a Comment

Is Anything Selling?

Is Anything Selling?

Bright spots in the housing nightmare

By David Koeppel, MSN Money

 

The mortgage meltdown isn’t messing with Texas — much — or with parts of Manhattan. Here are 3 categories of real estate that have gone mostly unscathed amid the pain. Finding reasons for optimism in a floundering housing market is no easy task. Nevada, Florida and California are among the states that have been devastated by foreclosures and tumbling home prices, and even the most elegant neighborhoods haven’t been immune.

 

Foreclosures have hit from the Hamptons to Beverly Hills, and reports that celebrities such as Ed McMahon and boxer Evander Holyfield are in danger of defaulting on multimillion-dollar homes show that even wealthy Americans are vulnerable.

 

But economists and real-estate agents insist that if you look hard enough, there is indeed some good news. Texas’ housing prices, buoyed by the state’s thriving energy economy and strong job market forecast, have stayed even or posted gains, and in both the Carolinas and parts of the Rocky Mountain region, prices have been relatively stable compared with the huge declines recorded in many parts of the country. An economic boom in Texas?

 

See the full article here.

Categories: BAPCPA · Middle class · adequate protection · article · assets · automatic stay · bankruptcy · bubble · ch 13 · ch 7 · consumer · current-events · data · debt · depreciation · economy · estate · estate planning · flipping · foreclosure · fraud · fraudulent transfers · income · individual · investments · landlord/tenant · legislation · mortgage · reaffirmation · real property · research · sale · state court · subprime

case updates – hometown, cir 3, cir 8

July 24, 2008 · Leave a Comment

3rd cir

Windt v. Qwest Communications, 06-4662, 06-4808 [June 10, 2008]
In a lawsuit brought by bankruptcy trustees of a Dutch company asserting various claims against defendants who were allegedly responsible for the company’s insolvency, judgment dismissing trustee-plaintiff’s complaint on forum non-conveniens grounds is affirmed where the district court did not abuse its discretion in: 1) affording low deference to plaintiffs’ choice of forum in view of Netherlands’ substantial interest in resolving a dispute concerning alleged mismanagement of a Dutch company by board members and officers of that Dutch company; 2) concluding that avoiding problems in the application of foreign law favored dismissal; 3) balancing the public and private interest factors implicated in the case; and 4) determining that the convenience of litigating the dispute in New Jersey was outweighed by the oppressive or vexatious effect on defendants.

 

8th cir

US v. Mitchell, 07-3136 [June 10, 2008]
Conviction upon defendant’s retrial for knowingly and fraudulently making a false statement under penalty of perjury in a bankruptcy case is affirmed where the circuit court declines to revisit a double jeopardy issue, and there was sufficient evidence to sustain his conviction.

ND IL ED

In re Weadley, 06-1854
Bibby Financial v. Weadley, 07-683
Issued June 11, 2008
Judge A. Benjamin Goldgar

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