Court’s filing fees for bankruptcy cases due to increase on June 1st, 2014

Victoria Maydanik News about Bankruptcy Laws Leave a Comment

The judiciary periodically adjusts court fees for filing new bankruptcy cases.  As operational costs increase and courts’ budget becomes tighter, it’s no wonder that the adjustments have been increases in the filing fees charged by the courts. ~~~~~~~~~~~~~~~~~~~~~~~~~ Current Chapter 7 court’s filing fee = $306 For cases filed on …

When you file bankruptcy, can you a claim a homestead exemption for the home you are not planning to keep?

Victoria Maydanik News about Bankruptcy Laws

Yes.  In an interesting new update,  U.S. 6th Circuit Court of Appeals recently held in Re Wengerd that the debtors rightfully claimed homestead exemption for their property, even though at the time the bankruptcy petition was field, they had a pending contract to sell the property. As a side note, …

Student loans – the next debt bomb?

Victoria Maydanik News about Bankruptcy Laws

Filing bankruptcy helps to wipe out or alleviate many financial burdens, with a glaring exception – student loans. Most student loans cannot be discharged in bankruptcy, and there are few or no options for distressed borrowers. Unfortunately, the combination of rising cost of education and worsening job prospects is a …