Blog

The Effect of the Coronavirus Health Crisis on Chapter 13

When a debtor files for Chapter 13 bankruptcy protection, he is entering into a repayment plan that typically lasts from three to five years. Once the Plan is over, provided that all Plan requirements were met, or the debtor was excused from meeting them, then the debtor is discharged from…

Contributions to 401K Plans After Filing Chapter 13 Bankruptcy

A Debtor Can Continue Contributing Into His 401K Plan Once He Files For Chapter 13 Bankruptcy Protection Prior to October 2005, a Chapter 13 debtor had to discontinue making 401K contributions and 401K loan repayments when he filed for Chapter 13 Bankruptcy. The Bankruptcy Court’s rationale was that this money…

What Constitutes a “Fraudulent” Transfer in Bankruptcy

One of the most important things a debtor attorney must do prior to his client filing for bankruptcy is to investigate whether the debtor transferred any property out of his name within six (6) years prior to the projected filing date of the bankruptcy. Such a transfer is deemed to…

Can Retirement Accounts Acquired Through Inheritance or Divorce be Protected in Bankruptcy?

Section 11 U.S.C. 522(d)(12) of the Bankruptcy Code allows a debtor to protect retirement funds in an account that is exempt from taxation under the Internal Revenue Code of 1986. Retirement accounts set up under Sections 401, 403, 408, 408A, 414, 457 and 501(a) of the Internal Revenue Code of 1986 are known…

What Determines The Amount A Debtor Pays Back In Chapter 13?

When a debtor files for Chapter 13 Bankruptcy, he is entering into a plan with his creditors whereby he is repaying back some, (if not all) of what he owes. Three factors determine the amount a debtor pays back in Chapter 13. These are as follows : The length of the Plan…

Free Consultation