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Month: January 2012

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Bankruptcy & Student Loan Relief

Is the Till interest rate universally applicable to all Chapter 13 Bankruptcies in Michigan?

January 31, 2012March 30, 2023 Mike Shovan

In Horny (E.D. Mich 2011), Judge Ludington ruled that not all contract interest rates can be crammed down to the Till rate. Ludington held that

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Bankruptcy & Student Loan Relief

Assets acquired before you file for Bankruptcy in Michigan do not have to be included in a Chapter 13 Plan.

January 31, 2012March 30, 2023 Mike Shovan

In Mobley (Bank. E.D. Mich. 2011), the court held that a fully exempted pre-petition personal injury award cannot be included as part of the disposable

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Bankruptcy & Student Loan Relief

Uncertain or unliquidated personal injury awards do not have to be included as disposable monthly income (DMI) in a Chapter 13 bankruptcy proceeding in Michigan?

January 31, 2012March 30, 2023 Mike Shovan

The Court in Connor (E.D. Mich. 2012) recently addressed the issue and concluded that prospective amounts do not have to be included in a DMI

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Bankruptcy & Student Loan Relief

Important Bankruptcy Cases before the US Supreme Court

January 31, 2012March 30, 2023 Mike Shovan

Here is a summary of the important Bankruptcy Cases before the US Supreme Court: In re Puffer, No. 11-1831 (1st Cir.) Issue: Whether chapter 13

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Uncategorized

What happens if you get a Form 1099 A or 1099 C from your mortgage lender?

January 30, 2012January 30, 2012 Mike Shovan

The Mortgage Forgiveness Debt Relief Act of 2007 has been extended through 2012. This Act allows homeowners to exclude income from the discharge of debt

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Can the Loan Modification Program be Saved?

January 28, 2012 Mike Shovan

Following the lead of several Bankruptcy Courts across the country, Local Chapter 13 Trustee Thomas W. McDonald Jr. has proposed a Mortgage Modification Mediation program

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Uncategorized

The Mortgage Debt Relief Act Prevents You From Getting Taxed on Discharged Mortgage Debt

January 25, 2012 Mike Shovan

The Mortgage Debt Relief Act of 2007  – which was extended through 2012 – allows taxpayers to exclude income from the discharge of debt on

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