In the interesting yet simple case of in re Lawrence, No. 11-42045-MSH (Bankr.D.Mass. 2012) the court confronted the following uncontested facts. On schedule C to their bankruptcy petition the Lawrences claimed an exemption in the Maine condominium, invoking the Massachusetts…
Chapter 13, Chapter 7
How Long Does a Bankruptcy Case Last?
by •
Understandably, bankruptcy is something people like to put behind them. That’s the whole concept: a court proceeding and a fresh start. The two types of bankruptcy individuals file, Chapter 7 and Chapter 13, have different timelines. The timeline of a…
Bankruptcy Means Test
Means Test Median Income Figures to Change May 1, 2012
by •
The median income figures dictating who will be subject to the bankruptcy means test (by state and family size) will change on May 1, 2012. Here are the new figures by family size: STATE 1 EARNER 2…
Uncategorized
Can you File Bankruptcy with a Durable Power of Attorney in Massachusetts?
by •
There is no reported case here in Massachusetts settling the issue of whether one can file bankruptcy on another’s behalf with a durable power of attorney. However, it is likely that this would be allowed if the debtor was incapacitated…
Chapter 12
Chapter 12 Bankruptcy Protection for Family Fishermen
by •
Chapter 12 of the Bankruptcy Code is a little-known avenue of debt relief and reorganization for family farmers and fishermen. Like its better-known cousins, Chapter 13 and Chapter 11, Chapter 12 is a court-supervised debt reorganization. However, in a few…
Business Bankruptcy, Chapter 11
Chapter 11 Bankruptcy Reorganization in a Nutshell
by •
Unlike in Chapter 7 and Chapter 13 bankruptcy, creditors have a vote on what happens in Chapter 11. Chapter 11 bankruptcy is sometimes used by individuals who are over the Chapter 13 debt limits, but most of the time businesses…