Before commencing any discussion of the relative merits of Chapter 7 bankruptcy versus Chapter 13 bankruptcy, it is necessary to underscore how important it is to discuss whether one should file bankruptcy to address financial issues with an experienced bankruptcy...
Month: July 2014
Abandonment of Debtor’s Property in Chapter 7 Cases
In Chapter 7 bankruptcy cases debtors enjoy certain protections - such as the automatic stay which protects the debtor's property from creditors and lawsuits and other actions - but also gives up certain control over the estate's assets. Upon filing the Chapter 7...
Sales of Existing Homes Still on the Rise Nationally and in Albuquerque
Last week it was reported that sales of new homes in the Albuquerque area had declined after a few years of steady increases. Now we see that this is not the case for existing homes. Just as sales of previously owned homes rose nationally for a third straight month in...
Automatic Stay Key Feature of Chapter 7 Bankruptcy
One of the key protections afforded to debtors who file Chapter 7 bankruptcy actions is the automatic stay. Upon filing a Chapter 7 bankruptcy case, the court, without prompting from interested parties, issues an automatic stay under § 362(a) of the bankruptcy code....
In Chapter 7 Bankruptcy Time Limits Conflict with Notice Provisions
When a Debtor files a Chapter 7 bankruptcy petition, creditors and other interested parties must meet certain time limits in order to challenge discharges of certain debts and additional developments in the case. But, in some instances, whether these time limitations...
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