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June 2016 Archives

Looking at the homestead exemption in Chapter 7 bankruptcy, P.1

In recent posts, we've been discussing the topic of property loss in bankruptcy, looking particularly at the issue of asset exemptions in Chapter 7 bankruptcy. As we noted last time, every state has different laws when it comes to Chapter 7 exemptions, and Wisconsin gives debtors the option of whether to choose state or federal exemptions.

What property will I lose in bankruptcy? P. 2

Last time, we began discussing the common misconception that a bankruptcy filing puts a debtor at risk of losing all his or her assets. As we've pointed out, this is simply not true, though the extent of asset loss depends on the form of bankruptcy for which the debtor files. As we noted, a debtor may not lose any assets in Chapter 13 bankruptcy.

What property will I lose in bankruptcy?

Bankruptcy is a process intended to help seriously struggling debtors obtain financial relief. Although the rules of bankruptcy are relatively straightforward in most cases, there is a fair amount of misunderstanding out there when it comes to understanding the process and the impact it will have on a debtor, both positive and negative.

Protecting against accusations of fraudulent conveyance in bankruptcy

In a previous post, we mentioned that fraudulent transfer may be found in cases where a debtor voluntarily or involuntarily transferred assets or incurred debts with actual intent to hinder, delay or defraud any entity to which the individual was indebted. We also noted that fraudulent transfer may be found in cases where the debtor received less than reasonably equivalent compensation for the transfers or debts. Here we wanted to say a bit more on this topic.           

Recent USSC ruling clarifies relationship between 'actual fraud' and fraudulent conveyances

We've been looking in recent posts at the issue of fraudulent transfer and what bankruptcy law says on the matter. Last time, we mentioned the term actual fraud, which is a term used in the bankruptcy code. The law prohibits the discharge of debts obtained by false pretenses, false representation or actual fraud.

Topical focus: fraudulent transfers in bankruptcy, P.2

In our previous post, we began looking at the topic of fraudulent transfers in bankruptcy. As we noted last time, trustees are able in some circumstances to avoid transfer of a debtor's interest in proper or obligations incurred within two years of filing for bankruptcy.

Payday loans and bankruptcy

In our last post, we looked briefly at new rules established by the Consumer Protection Financial Bureau which would protect consumers from some of the more risky aspects of payday lending. As we noted, there is a lot of opposition to the new rules from the lending industry, and it remains to be seen whether legal action would eventually be taken in opposition to the new rules.

Topical focus: fraudulent transfers in bankruptcy, P.1

Bankruptcy can be an extremely helpful avenue of financial relief for certain debtors. Navigating the bankruptcy process is not always easy, though, and it is important to work with an experienced attorney to ensure everything is done correctly and that any issues that arise in the process can be effectively addressed.

New federal guidelines address risky aspects of payday lending

Most of our readers have probably, at one time or another, come across an advertisement for payday loans, which are typically small, short-term loans due on the borrower's next payday. The terms of these loans vary, but in many cases such loans can border on--if not cross over into--the predatory.

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Reach Miller & Miller Law, LLC, online or call us at 414-326-9231 to schedule a free initial consultation. Our law office also provides Spanish language services. Se habla español.

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