This blog discusses a debtor who wishes to reopen a closed bankruptcy case in order to amend schedules. Reopening Bankruptcy Cases to Claim Personal Injury Exemptions The 10 th Circuit Bankruptcy Appellate Panel recently considered when debtors could reopen closed cases in order to amend their schedules. See In re Mendoza, 595 B.R. 849 (B.A.P.…
Continue reading ›How much time must elapse from a prior bankruptcy before filing a new bankruptcy? It depends on the prior bankruptcy chapter that was filed and the bankruptcy chapter one wishes to now file. Debtor Wishes to File a Chapter 7 Bankruptcy Under the United States Bankruptcy Code, the debtor must wait more than eight (8)…
Continue reading ›What happens when a debtor does a transfer of assets prior to bankruptcy? This article explores fraudulent transfers that take place within two years before filing. In a prior article we explored preferential transfers prior to filing bankruptcy. In subsequent articles we will explore other fraudulent transfers prior to filing. Transfers or Obligations Incurred Within…
Continue reading ›When a Chapter 7 bankruptcy is filed and a discharge is entered, and so long as the debtor did not sign a reaffirmation agreement, the lender’s only recourse in the event of a missed payment is to recover the collateral. The Chapter 7 Bankruptcy discharge precludes the lender from holding the borrower personally liable on…
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