There is an epidemic of people defaulting on their mortgage payments, as everyone knows. Real estate brokers are pushing hard to have people do “short sales” on their properties, instead of allowing them to go to foreclosure. In most circumstances, this is a very bad idea. What is a short sale? A short sale occurs [...]
Non-Filing Spouse’s Income Must Be Included in Bankruptcy
July 17, 2008 by · Leave a Comment
The fact that a non-filing spouse’s income must be included in the bankruptcy case of the other spouse is one of the most difficult concepts for my clients to grasp. The common scenario is this: Both Spouse’s Incomes Must Be “Included” One spouse has certain debts which are only in that spouse’s name and may [...]
Ninth Circuit Rules that Means Test Controls Chapter 13 Plan Length and Payment
June 27, 2008 by · Leave a Comment
Earlier this month, the Ninth Circuit Court of Appeals in Maney v. Kagenveama (In re Kagenveama), 527 F.3d 990 (9th Cir. June 2008) held that where an above-median chapter 13 debtor has negative “disposable income” per the means test but a monthly surplus per schedules I and J, the debtor is NOT required to propose [...]
