Property the Bankrupt Court Cannot Take
September 29th, 2017
State law dictates that certain property, protected by state law, cannot be touched by the federal bankruptcy court in Missouri or Kansas. This stays true, even when protected property is converted into property that the bankruptcy could have otherwise taken. This was true in the Hawk case in Kansas when a protected IRA retirement account was converted into a non-protected asset.
If you are thinking of filing for bankruptcy and would like some guidance, contact our law office at 816-524-4949 or visit our website at Hoorfarlaw.com.
Misapplication of Mortgage Payments in a Chapter 13 is a Discharge Violation Injunction
September 9th, 2016
In a Chapter 13 bankruptcy, the bankrupt debtor makes monthly payments to the Chapter 13 Trustee in order to, usually, save their home from foreclosure. If the mortgage company does not apply the monthly payments correctly, the mortgage company has violated the discharge injunction put in place by the bankruptcy. When the mortgage company misapplies payments while in bankruptcy, the mortgage company can be sued by the bankrupt debtor for compensatory damages, punitive damages, and attorney fees.
If you want to discuss bankruptcy or believe you have a mortgage issue, feel free to contact our law office at 816-524-4949 or visit our website at www.Hoorfarlaw.com.
Bankruptcy by the Numbers
July 26th, 2016
Comparing last year to this year, the ABA reports that the number of people who have filed for bankruptcy has fallen eight percent (8%). Approximately 523,000 Chapter 7 bankruptcies were filed, 302,000 Chapter 13 bankruptcies were filed, and 7,000 Chapter 11 bankruptcies were filed.
If you or your business are having financial trouble, contact our law office at 816-524-4949 or visit www.Hoorfarlaw.com.
Denial of a Chapter 13 Plan is Not Appealable
May 24th, 2016
Missouri has stated that a denied Chapter 13 bankruptcy plan cannot be appealed. A Chapter 13 bankruptcy plan is the repayment plan that a debtor proposes to the court in a Chapter 13 bankruptcy. A bankruptcy debtor must have a confirmed Chapter 13 bankruptcy plan in order to have a successful bankruptcy. But if the bankruptcy plan is denied, the denial cannot be appealed.
If you are thinking of filing for bankruptcy or need assistance in a bankruptcy you already filed, contact our law office at 816-524-4949 or visit our website at www.Hoorfarlaw.com.
Bankruptcy Court… You Can’t Touch This
December 23rd, 2013
A person who has filed for bankruptcy is entitled to the Earned Income Tax Credit. A bankruptcy court has recently ruled that the Earned Income Tax Credit is a type of public assistance for low-income families and is therefore exempt from the bankruptcy court. If you receive the EITC and are thinking of filing for bankruptcy, please consult with a bankruptcy attorney before filing.
For more information, look into In re Corbett, (Bankr. W.D. Mo 2013, case 13-60042), Federman, J.
Visit our website at www.Hoorfarlaw.com.