File Flint Chapter Seven Bankruptcy you will not be alone. Call 235-1970

September 23, 2012

HAVING PROBLEMS PAYING YOUR DEBTS? FLINT BANKRUPTCY 235-1970

Because of our poor economy nationally and in Michigan many families have economic problems. Do you? Having problems paying your debts? Is your family threatened with garnishment, foreclosure or repossession? If yes you are not alone. see http://goodmorningflint.blogspot.com/2012/09/having-problems-paying-your-debts-flint.html

We are a debt relief agency helping you as a Flint Bankruptcy Lawyer file and get relief.

Bankruptcy is a way to deal with these problems.

You Did know you have the right under federal law to file for bankruptcy relief from your creditors.

The theory of Bankruptcy is that it is a legal proceeding in which a person can get a fresh financial start. Do you need as fresh start?

Try to pay your bills before filing bankruptcy because you can do so only once every six years. In most cases, you will want to save this valuable option until you really need it. Also, you may not need to file bankruptcy even though creditors are threatening you because you may have no nonexempt property or wages.

This means you have nothing the creditors can take from you. You can’t be put in jail for failing to pay your civil debts (other than fines or other court ordered amounts).

Just like Wall Street got their Fresh start a chapter seven Flint Bankruptcy is your fresh start.
https://dumpmycreditors.wordpress.com/2011/11/15/your-persoanl-wall-street-type-bailout-a-chapter-sebven-bankruptcy-810-235-1970/

Some things bankruptcy can do:

Eliminate the legal obligation to pay most or all of your debts. This is called a “discharge” of debts.
Stop foreclosure of your home and allow you to catch up on missed payments.
Stop repossession of a car or other property, or, in some situations, force the creditor to return property even after it has been repossessed.
Stop wage garnishments.
Stop debt collection harassment.
Restore or prevent termination of utility service for nonpayment of previous bills (you will probably have to pay a deposit, but the deposit cannot be more than 1-1/2 to 2 times your previous regular bills according to the Arizona Administrative Code).
Get your drivers license back if it has been suspended because you didn’t pay court-ordered damages for a driving accident (unless you were driving under the influence of drugs or alcohol).
Some things bankruptcy can’t do
Eliminate certain rights of secured creditors. Some examples of secured debts are car loans and home mortgages. You can force secured creditors to take payments over time, but generally, you cannot keep the collateral unless you continue to pay the debt.
Discharge debts that arise after the bankruptcy has been filed.
Discharge certain types of debts, such as child support, alimony (spousal maintenance), certain other debts related to divorce, most student loans, court restitution orders, criminal fines, and most taxes.
Eliminate the obligation of a co-signer on your loan in most cases.

Chapter Seven Bankruptcy is known as a “fresh start” bankruptcy, or “liquidation”. Your debts are discharged (canceled), but you must give up any nonexempt property to the trustee to pay to your creditors. You can keep secured property if you are current on the payments and continue making the payments regularly.

When you file for bankruptcy you will not be alone.
http://occupyflintlegal.wordpress.com/2012/09/11/when-you-file-for-chapter-seven-bankruptcy-you-will-not-be-alone-810-235-1970/

In Chapter 7 bankruptcy, the trustee must take your nonexempt property and use it to pay your creditors.Most debtors in Genesee County because of our loss of residential value keep all of their possessions that are not encumbered by a loan or mortgage.

If you have property, which is non-exempt, you could sell it before filing bankruptcy and use the money to purchase things, which are exempt; such are food, furniture, or clothing. However, you cannot give property away to friends or relatives, and have them give it back to you after the bankruptcy. Any transfers of property without receiving fair value for it within one year before filing bankruptcy are called a fraudulent transfer. The property could be taken by the bankruptcy court and sold to pay some of your debts. If the court finds you have been dishonest in your bankruptcy, you could be denied your discharge. You could also be charged with federal or state crimes, which carry serious fines and jail sentences.

Also, you cannot prefer one creditor over another by making payments on the debt within 90 days before filing bankruptcy (one year if the person paid is an “insider” (family, friend, etc.) If you do so, the bankruptcy court can take that money away from the person you paid. This is to insure that all creditors are treated equally. This does not apply, however, to regular monthly payments such as your car payment, house payment, rent, utilities.


BAY CITY BANKRUPTCY CHAPTER 13 PAYMENT PLAN-Terry Bankert 810-235-1970

April 6, 2011

WHAT IS THE BAY CITY BANKRUPTCY TRUSTEE DUTY.

a. When you the debtor owe back child support they share information about your Bay City Bankruptcy with child support enforcement agencies like the friend of the Court.

b. The Bay City Bankruptcy truste evaluates your offered plan to make it follow the law.

c. The Bay City Bankruptcy trustee will watch your monthly income and expense reports that are required by Federal law.

d.The Bay City Bankruptcy trustee demands that you file your federal tax returns for the four years prior to your filing and every year during your plan.

e.The Bay City Bankruptcy trustee actively participates in helping you modify your plan when necessary.

IS YOUR CASE IN THE EASTERN DISTRICT OF MICHIGAN BANKRUPTCY COURT? BANKRUPTCY FLINT / BAY CITY ,ATTORNEY POSTING BY Flint / Bay City Bankruptcy Attorney Terry R. Bankert 810-235-1970. http://www.attorneybankert.com     Written in SEO format.


WHEN IN BANKRUPTCY YOU MUST GET A CREDIT COUNSELING CERTIFICATE BEFORE YOU FILE

March 24, 2011

DID YOU KNOW IF YOU ARE IN BANKRUPTCY you must file a motion for approval of the certification, serve it on all parties, and file a certificate of service.

BANKRUPTCY posting by Bankruptcy lawyer Terry R. Bankert.UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION (DETROIT),In re: Chapter 13,Carlos B. Oxholm, Case No. 11-46348 Debtor. March 15, 2011 Hon. Phillip J. Shefferly

ORDER DENYING DEBTOR’S EX PARTE MOTION FOR
EXTENSION OF TIME TO FILE CREDIT COUNSELING CERTIFICATE

BANKRUPTCY FLINT ,ATTORNEY POSTING BY Flint Bankruptcy Lawyer Terry R. Bankert 810-235-1970.[Comments of Flint Bankruptcy lawyer Terry R.Bankert ,810-235-1970 ,in bracket or CAP headlines. If you have bankruptcy questions call today-trb.810-235-1970]

DEBTOR FILED 03/01/11

On March 9, 2011, the Debtor filed this Chapter 13 case.

MOTION FILED 03/1/2011

On March 11, 2011, the Debtor filed a motion (docket entry no. 8) seeking an extension of time to file a certificate of budget and credit counseling.

DEBTOR SAYS NO CREDIT COUNSELING BEFORE FILING.

The motion does not cite any Bankruptcy Code section or rule, but explains that the Debtor did not obtain budget and credit counseling prior to filing the bankruptcy petition
because of exigent circumstances.

DEBTOR WANTS EXTENSION

The Debtor’s motion requests that the Court grant the Debtor
an extension of time to file the certificate of budget and credit counseling on an ex parte basis.

BANKRUPTCY CODE SAYS YOU CAN ASK

Section 109(h)(3)(A) of the Bankruptcy Code permits a debtor to

[1]obtain a waiver of the requirement of obtaining budget and credit counseling pre-petition,

[2]provided that the debtor files a certification that complies with § 109(h)(3)(A).

[3]The Bankruptcy Court for the Eastern District of Michigan has a specific local bankruptcy rule that sets forth the procedure for filing a motion under § 109(h)(3)(A).

CREDIT COUNSELING CERTIFICATION

Local Bankruptcy Rule 1007-6 is entitled “Credit Counseling
Compliance.” Local Bankruptcy Rule 1007-6(a) provides that

[]a debtor filing a certification under § 109(h)(3)(A)

[]must file a motion for approval of the certification, serve it on all parties, and file a certificate of service. Further,

[]the local rule provides that parties in interest have
14 days within which to object to the motion.

[]If no timely response is filed, the certification shall be deemed satisfactory under § 109(h)(3)(A)(iii) without a hearing or further order.

[]The 11-46348-pjs Doc 12 Filed 03/15/11 Entered 03/15/11 14:46:56 motion must be accompanied by a notice that the deadline to file responses is 14 days after
service.

DEBTOR ASKED FOR EX PARTE, NOT ALLOWED IN RULES

The Debtor’s motion in this case seeks relief under § 109(h)(3)(A) of the Bankruptcy Code, but does not comply with L.B.R. 1007-6(a).

RULES SAYS JUDGES CANNOT LOOK EX PARTE

That local rule does not permit the Debtor’s
motion to be considered on an ex parte basis. Accordingly,

DEBTOR REQUES DENIED BUT DOOR LEFT OPEN TO DO IT RIGHT

IT IS HEREBY ORDERED that the Debtor’s motion (docket entry no. 8) for extension of time to file certificate of budget and credit counseling is denied without prejudice to the Debtor’s right to file and serve a motion that complies with L.B.R. 1007-6(a).
–END

If you have bankruptcy question please contact Flint Bankruptcy Attorney Terry r. Bankert P.C. 810-235-1970, http://www.attorneybankert.com

This law firm acts as a debt relief agency by helping you file for bankruptcy.


BANKRUPTCY, WHAT THE PETITIONER NEEDS TO KNOW

May 18, 2010

 

 I. Introduction

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II. Who May File?

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III. Should I File a Claim?

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IV. I Received a Bankruptcy Notice, Does This Mean I am Stayed?

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V. Can My Clients File on This Debt?

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VI. Can I Object to the Discharge of This Obligation? The Axis of Evil BC523(a)(2)(4) & (6)

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VII. What Is a Domestic Support Obligation?

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VIII. Miscellaneous Issues

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I. Introduction

 A. Thank you for reviewing this material. The rules requre that I meet with you at this initial consultation.

The topics discussed in this presentation were selected because they are the ones clients ask frequently call and inquire about.

 B. I have also included brief comments on provisions of the new Bankruptcy Law (BAPCPA). questions because it is a new law.

 II. Who May File?

A. You can probably file. There are a few exceptions.

CHAPTER 7- A person who has been a resident of the district for the greater part of 180 days.

CHAPTER 13 -An individual with a regular income with unsecured debnt of less that $336,900 and secured debt of less that $1,010,650.00 and has been a resident of the district for the greater part of 180 days.

B. Have you received a Chapter 7 Bankruptcy Discharge within the previous eight years they cannot file Chapter 7 and receive a discharge (BC727(a)(8)).

A Chapter 13 filing is available if four years have expired since the Chapter 7 discharge, but that may not be  a good choice for  you. Often the best course of action is to wait until you can file a Chapter 7 bankruptcy.

C. You may be unable to pass the Means Test of BC 707(b). Http://www.uscourts.gov/rules/BK_Forms_08_Offical/B_022A_1208.pdf

This test is required of every debtor who ha primary consumer debts and wants to file under Chapter 7. 1.

Passing the means test is a completely new requirement implemented by BAPCPA. If your debts are mostly business related you don’t have to pass the Means Test. If your debts are primarily consumer debts you must pass.

A. IF THE DEBTOR ANNUALIZED INCOME FALLS BELOW THE ANNUAL INCOME MEDIAN THERE IS NO PRESUMPTION OF ABUSE AND THE DEBTOR WILL BE ABLE TO CONTINUE WITH A CHAPTER 7 CASE.

If income is above the annual median income further calculations must be performed to determine whether the debtor has passed the means test and qualifies for bankruptcy under Chapter 7.

Software will do this application. If after expenses the net income is less that $109.58 per month then the case is not presumptively abusive under 11 USC 707 (b)(2)(A)(iv).

It is presumptively abusive is there is a net $182.50.Special circumstances must be shown. Expenses follow local , state and national standards. See http://www.irs.gov/irm/part5/irm_05-015-001.html

 B. IF YOUR ANNUALIZED INCOME IS GREATER THAN THE ANNUALIZED ANNUAL MEDIAN INCOME YOUR EXPENSES ARE THEN CALCUALTED TO SHOW YOUR INCOME INSUFFICIENT TO PROVIDE A MEANINGFUL REPAYMENT PLAN UNDER CHAPTER 13 2. The test is based on IRS data.

The goal is to ensure that debtors are in good faith and do not have sufficient resources to pay any significant amount to their creditors. The paperwork required to complete the means test is one of the reasons that the legal fees for a relatively simple bankruptcy have risen dramatically.

3. If you make $50,000 – 60,000 a year you might have a problem. You can still file a Chapter 13 unless you have too high a level of debt. BC 109(e) ($1,000,650 for secured debt, $336,900 for unsecured).

4. Even if you pass the Means Test you must still be in good faith. The U.S. Trustee will still analyze the budget to verify that the debtor has no disposable income available for creditors (BC 707(b)(1)).

5. You must now receive debtor education before they can file. Under the Bankruptcy code the family income dictates the form of relief (either Chapert 13 or Chapter &) available to you.

Annual income, calculated based upon the income for the 6 month prior to the filing is the first look determiner on the availabile bankruptcy remedies. The Court looks to the IRS for income data by state. 11 USC 707 (b)2 and 11 USC 1322 (d)(1). The Current median income for Michigan is,

One Earner- $43,611

Family 2 – $52,620

Family 3 $61,737

Family 4 $74,824

 The first step of a bankruptcy analysis then starts with this median income. As the unemployment rate increases , and income decreases, the eligibility for bankruptcy increases.

NON FILING SPOUSE

 The non filing spouse income is incorporated into the means test.

CHAPTER 7 ATRUSTEE COLLECTS AND SELLS DEBTORS NON-EXEMPT PROPERTY AND DISTRIBUTES THE PROCEEDS TO CREDITORS.

 CHAPTER 7 PROCESS Filing 341 hearing Sometimes claims Adversary proceedings Discharge Dismissal-Conversion Trustee duties

DOMESTIC SUPPORT HAD PRIORITY IN 7 AND 13 CHAPTER 13 INDIVIDUAL REORGANIZATIONS

 The individual agrees to a repayment plan and uses future earnings to pay creditors. The debt amount must be less that $250,000 unsecured or $750,00 in secured.

WHEN IS A CHAPTER 13 ADVISABLE Recent Chapter 7 Default on secured debt -mortgage -car loan -prevent forfetute of taxes on real property -needs to strip away junior mortgage -goal is to keep real property with unsecured mortgage cross collateralized can be crammed down in a payment plan -keep unexempt property -compell a short sale of unsecured collateral -manage non dischargeable student loan -payment plan on on non dischargeable tax debt -did not pass the means test

CHAPTER 13 PROCESS Filing 341 Hearing -documents to support all entries on the schedules -certificates of title, vehicles, boats, mobile homes, – currents statement from each secured creditor -origional bankbooks, check registers credit card statements, -copies of leases, mortages, deeds, and land contracts -copies of leases, mortgages, deeds, and land contracts -current property tax statements -assets appraisals -keys to non exempt buildings andvehicles -divorce judgements and property settlement agreements -casualty insurance policies -documents establishing joint debt and entirities excemption -name address and phone of domestic support obligation Claims Adversary Procedings Creditor objections and confirmation Dismissal or converstion Discharge up to 66 months after filing.

 CHAPTER 13 BENEFITS Chapter 13 bankruptcy allows you to repay debtors over the course of three to five years. There are many benefits to chapter 13.

1. STOPPING THE FORECLOSURE SALE Chapter 13 is a vehicle to allow you to stay in your home and repay overdue amounts while continuing to pay the on-going mortgage. The chapter 13 must be filed before the foreclosure sale.

2.INCREASING THE PAYMENT TIME ON RETAIL INSTALLMENT CONTRACTS The court in a chapter 13 requires repayment of secured creditors whose collateral is being retained by the lender, this repayment may be made over the course of 60 months in equal monthly payments. 11USC 1325 (a) (5) (B) (II)(iii)

3.STRIPPING A JUNIOR LIEN ON PROPERTY If you have two mnortgages on your property and the second one because of declining property values leave the mortgager little or no value equity on which the second mortgage can attach, it can then be treated as unsecured.When the debtro completes the chapter 13 and recieves a discharge the junior liens is removed.

 IN CHAPTER 7 AND 13 An automatic stay is created immediatley at the time of filing and lasts until proiperty no longer is property of the estate. Or the case is dismissed, closed, or a discharge is granted or denied. STOPS collection on pre-existing debt STOPS judgement enforcement STOPS other collections except DOES NOT STOP Paternity establishment Domestic support order or modification Child custody or visitation dissolution of marraige except division of property Domestice violence proceedings Collection of domestic support order from property not of the estate. Lic Suspensions Reporting back child support to credit agency Interception of income tax enforcement of a medical obligation BANKRUPTCY JUDGE MAY ALLOW domestic support obligation 101(14a) DEBT THAT accures before, on or after the date of the order for relief including interest that accures on the debt owed to or recoverable by a spouse, former spouse, child of bdebtor, or childs parent, legal guardian or responsible relative., or a governmental unit. To include alimony or maintenance or support.

 What Is a Domestic Support Obligation?

A. If it looks like support it is almost certainly a domestic support obligation and therefore non-dischargable in Chapter 7 (BC 101(14)(A) and (523 (a)(5).

 B. Even if an obligation in a divorce judgment is not a Domestic Support Obligation it is still non-dischargable in Chapter 7 (BC 523 (a)15.

C. The practical ramifications of this are significant for divorce lawyers. If you execute a divorce judgment containing hold harmless language and other financial obligations to a future ex-spouse, a bankruptcy filing will not help your client if the former spouse demands payment.

 D. If you are is in financial trouble do not agree to hold harmless language and do not agree to pay large amounts of money. It may be wise to disclose in the divorce judgment that a bankruptcy may be necessary.

 E. In the Sixth Circuit the plain language of a divorce judgment is effective even if it can be unfair. While a client can still file Chapter 13 on property settlement obligations, this is rarely an option due to the “Merlin Clause” almost all divorce judgments contain. These clauses provide that property settlement becomes a Domestic Support Obligation if a bankruptcy is filed. If a client has stipulated to that language, he or she is probably not entitled to any relief in bankruptcy.

NON DISCHARGEABLE DEBT -TAXES FILED WITHIN TWO YEARS -DEBTS OBTAINED BY FRAUD -DOMESTIC SUPPORT OBLIGATION -DEBTS FOR WILLFUL INJURY INITIAL CONSULTATION AGREEMENT, fee agreement Provided to the Client 5 business days after the consultation takes place. 11 USC 528 (a) (1). To be signed.

 WHEN YOU FILE A BANKRUPTCY ESTATE IS CREATED EXEMPTIONS 7&13 Choose federal or state Must disclose PROPERTY FEDERAL EXEMPTION MICHIGAN EXEMPTION

HOUSEHOLD 1 ITEM 525 525

 HOUSEHOLD AGGREGATE 10755 3450

BURIAL NA 575

CROPS, ANIMAL, FEED NA 2300

PETS NA 575

VEHICLE 3225 3175

COMPUTER NA 575

TOOLS/TRADE 2025 2300

 ASSOCIATION SHARE NA 1150

 HOMESTEAD 20200 34,450

 HOMESTEAD TENANCIES NA UNLIMITED HOMESTEAD 65 NA 51,650

 WILD CARD 10125[UNUSED RESIDENTIAL] 1075 N/A

JEWLERY 1350 N/A

 LIFE INSURANCE 10775 N/A