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By: Laura Day DelCotto Showing my age, I have loved J. Crew since the preppy days of the 1980s. When I was pulling a J. Crew, that usually meant I was using my father’s credit card to go to the mall and get some pink and green. However, in 2022, “pulling a J. Crew”...
By: Laura Day DelCotto So, we know from our long experience here that bankruptcy sales can get very messy. The Seventh Circuit’s recent 5 page opinion makes it clear that the one who needs to care the most is often the buyer. Notice of Sale is a Basic Right In...
By: Laura Day DelCotto The primary goal of filing bankruptcy is commonly understood to be the receipt of a discharge of debt, and having a “fresh start” in life. There are probably thousands of cases that state this legal proposition, including Supreme Court cases...
By: Jamie L. Harris Per Bankruptcy Code section 104, the dollar amounts in the Bankruptcy Code are adjusted every three years to account for inflation. The next increase will take effect April 1, 2022 and include increases for the debt limits to chapter 12 and chapter...
By: Dean A. Langdon Thousands of households had the opportunity to get a break on their mortgage payments during the Covid-19 pandemic. Foreclosures on many residential mortgages were prohibited, which certainly helped avoid a homelessness crisis during the pandemic....
By: Jamie L. Harris Chapter 13 bankruptcy permits individuals with regular income to file a three to five-year repayment plan to address their debts. There are several advantages to filing Chapter 13 bankruptcy as opposed to Chapter 7 bankruptcy. Here are (5) five...
By: Jamie L. Harris Bankruptcy Judge Charles R. Merrill issued an opinion[1] on January 10, 2022 that proceeds from the pre-petition sale of a homestead not being exempt under the federal exemption 11 U.S.C. §522(d)(1. This provides, in relevant part, for an exemption...
By: Jamie L. Harris You have probably heard the term “short sale” before but may not be familiar with what the short sale process entails. A short sale can be an alternative to foreclosure for financially distressed homeowners. A short sale involves selling a home...
By: Dean A. Langdon It has long been the rule in bankruptcy cases that the price received for real property at a foreclosure sale was “reasonably equivalent value” and the transfer could not be set aside as a fraudulent transfer under 11 U.S.C. § 548. BFP v....
By: Laura Day DelCotto In our many chapter 11 coal-industry cases over the years, the surety bonding company always plays a very major role in the case. The bonding company issues are detailed and fact-intensive, dealing with multiple bonds, bond collateral, permits,...
