The “Best Interest of the Creditor” Test
This is an analysis that we must do on every chapter 13 that we plan on filing with the bankruptcy court. The “best interest of the creditor” test is in place to make sure the creditor will be no worse off by the debtor filing for relief under chapter 13 of the code. Chapter 7 [...]
“I am not filing if I cannot do a chapter 7″
I hear this statement on a daily basis. “I do not want any part of a chapter 13. I am only interested in filing a chapter 7.” I think anyone who knows anything at all about bankruptcy would concur that, all other things being equal, a chapter 7 filing is a more attractive scenario. Unfortunately, [...]
The Credit Squeeze in the Car Industry
I wrote a post a week or so about the bad mortgages that were written out there to people who couldn’t afford them. My question was posed to ask “Who was to blame for the problem?” In today’s post, I continue with my analyzation of consumer loans, but specifically would like to address the car [...]