Thursday, 23rd February 2012.

Fraudulently Conveyed Assets Are Not Property of the Estate Until Recovered

Posted on Wednesday, 3rd November 2010 by Gregory T

 
Although section 541 includes within the property of the estate both equitable interests and property that is recovered pursuant to section 550, in cases where the estate’s equitable interest is based on the fact that the debtor fraudulently transferred the subject property, the estate includes only the equitable claim for its recovery and not the property itself.[1] The actual transferred asset does not become property of the estate until after the trustee successfully recovers it.[2]
 
Recently, in Flanagan v. MJCC

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Tags: Estate Recovered, Recovered
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Will a Debt Management Plan affect my credit rating?

Posted on Monday, 1st November 2010 by Nicholas P

Being in debt means you have opened many credit lines and unable to repay those on time itself will hurt your credit score. As you are unable to pay the agreed amount on time, your creditors could report to credit bureau about your payments style. Hence it is very important to take care off the payments reach on time other wise it will hurt your credit score.

The most important thing that one must recognize is that you are facing problem in repaying the debt well before you start missing payments and find a solution to the problem.

I often encounter with a question “will debt management program hurt my credit score?” for this reason I thought of discussing in this article.

Before I start answering this I would like you to look into few things? Hav

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Tags: Credit, Credit Rating
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Chapter Seven Bankruptcy Protection Governs Liquidation and Discharge Of Payment Obligations

Posted on Wednesday, 27th October 2010 by Gregory T

Chapter 7 of the Title 11 of the United States Code (Bankruptcy Code) governs the process of liquidation under the bankruptcy laws of the United States. (In contrast, Chapters 11 and 13 govern the process of reorganization of a debtor in bankruptcy.) Chapter 7 is the most common form of bankruptcy in the United States.

For individuals:

Individuals who reside, have a place of business, or own property in the United States may file for bankruptcy in a federal court under Chapter 7 (“straight bankruptcy”, or liquidation).Chapter 7, as with other bankruptcy chapters, is not available to individuals who have had bankruptcy cases dismissed within the prior 180 days under specified circumstances.

In a Chapter 7 bankruptcy, the individual is allowed to keep certain exempt property.

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Tags: Governs, Governs Liquidation
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Debt Settlement Considerations

Posted on Sunday, 24th October 2010 by Nicholas P

It is quite common to encounter debt settlement company advertising that makes remarkable claims regarding the debt relief results that it can achieve. In truth, their clients benefit from negotiations that the debt settlement companies typically claim to reach up to 70%. If these are actual results that are typical of what consumers can expect, you may be wondering why anyone with an unsecured debt problem, such as from high interest credit cards and personal or “signature” loans, would be interested in looking elsewhere for a solution. The solution lies in understanding some of the other aspects of debt settlement that aren’t discussed in the advertising, the details of which tend to cast an entirely different light on the subject. Learn more…

Tags: Debt Settlement, Settlement
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