Bankruptcy is Often a Gambler’s Only Sure Bet

By Scott F. Waterman, Waterman & Mayer (Philadelphia, PA)

Gamblers almost always think the next game will be a winner for them. That’s what keeps them coming back for more, even when they’re sinking in debt. With the construction of many casinos throughout the Philadelphia area, the ease of online gambling, and the latest leniency in sports betting regulations, it’s ever so easy to gamble away hard-earned income and get into a bad debt situation.

But gamblers may actually have some luck on their side if they take advantage of current bankruptcy laws. Chapter 7 . . .

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2022 Bankruptcy Procedure Year in Review: Revised Statute and Rules and Selected Cases – Part 3 Rules Related to SBRA (Continued)

Lawrence R. Ahern, III

December 4, 2022

Introduction This series reviews developments in bankruptcy procedure during 2022. Amendments to 16 rules and new one new rule take effect December 1, 2022, absent Congressional action. Many reflect changes necessitated by the Small Business Reorganization Act of 2019 (SBRA),1 and have been in place in the same or similar form on an interim basis since that legislation took effect.

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Happy Thanksgiving

November 19, 2023

As our ‘thank you’ to our loyal readers, we bring you a completely non-password protected issue! ENJOY.

Generative A.I. – Be Afraid, Be Very Afraid

Naliko Markel

October 22, 2023

“ . . . next leap: Generative A.I. learns everything there is to know about you from your public social media presence and crafts phishing attacks unique to YOU.”

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NCLC Seeks Signers Urging Foreclosure Pause When HAF Applied For

The Academy

January 16, 2022

NCLC seeking non-profit organizations to sign two letters (one to the CFPB and one to FHFA, FHA, VA, and USDA) urging the agencies to require servicers to pause foreclosure activity for at least 60 days after being notified that a borrower has applied for HAF assistance and meets conditional program eligibility. We ask organizations to sign both letters, and the...

4 Reasons to Keep Time Records No One Discusses

Cathy Moran

July 17, 2022

Mention keeping time records to a bankruptcy lawyer and you’re likely met with expressions of utter revulsion. All too many assert that the major appeal of being a bankruptcy lawyer is precisely that they don’t have to keep time. Between flat fee deals with clients, and no look fees in Chapter 13, they feel liberated from the clock and the...

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2022 Bankruptcy Procedure Year in Review: Revised Statute and Rules and Selected Cases – Part 7 Selected Decisions Under Parts I and II of the Federal Rules of Bankruptcy Procedure

Lawrence R. Ahern, III

March 26, 2023

Introduction Amendments to 16 rules and new one new rule took effect December 1, 2022. Many reflected changes necessitated by the Small Business Reorganization Act of 2019 (SBRA),1 and had been in place in the same or similar form on an interim basis since that legislation took effect. Part 1 of this series summarized 2022 . . . It looks...

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Critical Case Comment – New Bankruptcy Term – “Sale Plan”

Henry E. Hildebrand, III

January 1, 2023

Confirmation of a “sale” plan (proposing the sale of the debtor’s principal residence) depends upon how quickly the sale will be consummated, milestones established, and consequences for failing to meet those deadlines; a plan that makes payments to the mortgage company under a “sale” plan may not modify the rights of the mortgagee but if care is taken to comply...

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From the Editor

March 17, 2019

By Wm. Houston Brown, United States Bankruptcy Judge (Retired) Confirmation - Trustee’s “double-dipping” objection to above-median confirmation denied. The trustee objected to confirmation based on above-median debtor deducting the IRS Local Standard housing deduction when the actual mortgage expense was on a marital residence owned by the debtor’s nonfiling spouse, while also claiming the marital adjustment for the spouse’s income...

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Are Your Loyalties Divided?

August 22, 2021

By Cathy Moran, Esq., (Redwood City, CA) When a married couple books a bankruptcy consultation, you have an immediate problem: There be dragons, as early map makers helpfully provided. Because, as a lawyer friend of mine says: Anytime there are two people sitting across from you, you have a conflict of interest. That pithy expression has stuck with me and...

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From the Editor

April 7, 2019

By Wm. Houston Brown, United States Bankruptcy Judge (Retired) Attorney Fees - Chapter 13 debtor’s attorney not entitled to recovery under § 330 of fees that were incurred in defending prior attorneys’ sanctions motion. The debtor’s prior attorneys had sought to impose sanctions on the current attorney, and that attorney successfully defended against sanctions. However, the fees incurred by the...

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