In a recent bankruptcy filing a discharge was denied because the debtors' schedules included blatant omissions and did not contain the signature of the debtors. The schedules filed in this Chapter 7 bankruptcy case by attorney Joel J. Margolis contained horrific omissions, including a furniture store filled with furniture, a $13,000.00 bank account, a 2008 [...]

In a recent Texas bankruptcy case, the bankruptcy court ruled that it would enforce a settlement agreement made in Chapter 11 bankruptcy even though the debtor's case was later converted to a Chapter 7 bankruptcy .  The terms of the settlement agreement stipulated that the creditor would have access to any future income from legal [...]

The argument for and against a bankruptcy process for this country's states is looming large in the headlines. But for the most part many of those who are arguing against a bankruptcy chapter that allows states to restructure their debts are missing the point. Two of the biggest flaws in the arguments against a bankruptcy [...]

Debtor's who wisely choose to hire a bankruptcy attorney put themselves at an advantage to pro se bankruptcy filers and their creditors.  But to enhance and maximize the leverage they will enjoy during their bankruptcy, they must understand and respect the boundaries of the attorney-client relationship. Here's what bankruptcy debtors need to know: The primary [...]

How to Appeal the Bankruptcy Court's Ruling A bankruptcy court ruling which is on appeal may be affirmed, modified or reversed; but this cannot happen unless the ruling is found to be clearly erroneous and the credibility of all the witnesses in the case have been confirmed by the bankruptcy judge. The burden of proof [...]

Undocumented Workers and Bankruptcy The bankruptcy code does not restrict who can file bankruptcy based on their citizenship status in this country. When a debtor files bankruptcy they will be asked to provide information such as an address and a social security number, bank account numbers etc.  The mistake that some undocumented workers make when [...]

The battle over compensation packages challenged by the trustee and creditors in the Crystal Cathedral Chapter 11 bankruptcy is far from finished.  A hearing has been scheduled for February 9th to decide on whether or not compensation packages for several insiders in the Crystal Cathedral bankruptcy will be allowed. The U.S. Trustee, an employee of [...]

Understanding The Bankruptcy Trustee's "Statement Of Intentions"--Image via Wikipedia Every debtor who files bankruptcy will be required to attend what is called the "meeting of creditors" or the 341 meeting.  The meeting of creditors takes place about 30 days after the bankruptcy if filed and will include the debtor, the bankruptcy trustee, the debtor's attorney [...]

Lawyers for the trustee in the Chapter 11 bankruptcy of Pfizer, Inc., the world's largest drug company, are calling for the dismissal of the company's Quigley unit bankruptcy. The trustee attorneys claim that Pfizer has been content to allow the bankruptcy to languish and has failed to propose an adequate Chapter 11 bankruptcy plan even [...]

Due to misconceptions about the benefits of bankruptcy, many debtors spend an inordinate about of time and money trying to avoid a necessary bankruptcy filing. We even have entire industries built upon the idea that "anything" is better than bankruptcy. But the truth is that many of the bankruptcy alternatives proposed by bankruptcy opponents are [...]