Cracking the Code Comments http://abiworld.net/crackingthecode A Newsletter of Insolvency Professionals en Fri, 24 Aug 2007 19:03:22 +0000 http://wordpress.org/?v=1.2.1 by: david a. friedman, esq. http://abiworld.net/crackingthecode/index.php?p=42#comments Wed, 14 Feb 2007 07:55:57 -0500 11718:42@http://abiworld.net/crackingthecode this explaination does not define the “probate exception” nor does it explain the significance of the"core” proceedings issue in this case. I did however find this article a very good one in definining just what this litigation was about. I find it ingenious how the plaintiff got to federal jurisdiction on a tort claim against the benificiary, not the estate, thru a bankruptcy proceeding. this explaination does not define the “probate exception” nor does it explain the significance of the"core” proceedings issue in this case. I did however find this article a very good one in definining just what this litigation was about. I find it ingenious how the plaintiff got to federal jurisdiction on a tort claim against the benificiary, not the estate, thru a bankruptcy proceeding.

]]> by: michelle george http://abiworld.net/crackingthecode/index.php?p=34#comments Wed, 18 Oct 2006 18:44:40 -0400 6260:34@http://abiworld.net/crackingthecode DOes anyone do this in NY? DOes anyone do this in NY?

]]> by: Michael http://abiworld.net/crackingthecode/index.php?p=34#comments Tue, 10 Oct 2006 16:40:42 -0400 6171:34@http://abiworld.net/crackingthecode I live in Michigan and I am in a 5 year plan. My payments have been made on time however, my city taxes are causing my payments to increase and thus my percentage is lower that it should be. 1) Does the “bailout loan” apply to plans in Michigan? I know Chapter 13s are Federal. 2) Does it take long to close these loans? I live in Michigan and I am in a 5 year plan. My payments have been made on time however, my city taxes are causing my payments to increase and thus my percentage is lower that it should be. 1) Does the “bailout loan” apply to plans in Michigan? I know Chapter 13s are Federal. 2) Does it take long to close these loans?

]]> by: tim smith http://abiworld.net/crackingthecode/index.php?p=38#comments Sat, 7 Oct 2006 15:43:37 -0400 6139:38@http://abiworld.net/crackingthecode There is a debt elimination company that I just spoke with stating they can eliminate my credit card debt with their atty’s. I cut and pasted their site for your review. I do know and talked with a few other elimination companies and have a good understanding how they work..I also have read many articles that say they are a scam. However , this one I have copied to you sounds like they maybe legit..will you please review it and give me your opinion of them and tell me if you have encountered them or know about them as well..Thanks in advance for your assistance, tim, please see below their site info: The Credit Defense League Paul Cohen - Phone: 201-832-0929 Home Contact Us: Online Application Form Resources About Us We market for the Credit Collections Defense Network. This is a nationwide network of attorneys available to assist consumers in defeating illegal collection practices. Never before has such a large group of attorneys pulled together to assist consumers. This “against the grain” approach is the brain child of Robert K. Lock Jr. He is the lead attorney for the CCDN and also R. K. Lock and Associates located in Chicago Illinois. Mr. Lock has over 16 years experience in practicing law. Practice Areas: Telecommunications Law; Public Utilities Regulatory Law; Complex Corporate Litigation; Complex Class Action Litigation, Consumer Advocacy. Admitted: 1989, Illinois Law School: John Marshall Law School: J.D., 1989 College: University of Arizona, 1978; University of San Francisco, B.A., English, 1980 Member: Chicago (Chair, Public Utilities Committee, 1997-1998), Illinois State and American Bar Associations. Biography: Assistant State’s Attorney, Cook County, Illinois, 1985-1993. Executive Assistant, Illinois Commerce Commission, 1993-1996. Member, Mayor Daley’s Council of Technology Advisors, 2003-. President and General Counsel, Competitive Strategies Group, 1996-2000. Contributing Author, International Engineering Consortium. Published Articles on Legal and Policy Issues. Languages: Spanish and German. Born: Chicago, Illinois, October 9, 1958 Bar Number: 905393375 If you are interested in reading the governing laws behind our service, the Fair Credit Reporting Act and the Fair Debt Collection Practice Act, please click on the links below: http://www.creditdefenseleague.com/about-us.htm There is a debt elimination company that I just spoke with stating they can eliminate my credit card debt with their atty’s.

I cut and pasted their site for your review. I do know and talked with a few other elimination companies and have a good understanding how they work..I also have read many articles that say they are a scam.

However , this one I have copied to you sounds like they maybe legit..will you please review it and give me your opinion of them and tell me if you have encountered them or know about them as well..Thanks in advance for your assistance, tim, please see below their site info:

The Credit Defense League
Paul Cohen - Phone: 201-832-0929

Home

Contact Us: Online Application Form

Resources

About Us

We market for the Credit Collections Defense Network. This is a nationwide network of attorneys available to assist consumers in defeating illegal collection practices. Never before has such a large group of attorneys pulled together to assist consumers.

This “against the grain” approach is the brain child of Robert K. Lock Jr. He is the lead attorney for the CCDN and also R. K. Lock and Associates located in Chicago Illinois. Mr. Lock has over 16 years experience in practicing law.

Practice Areas: Telecommunications Law; Public Utilities Regulatory Law; Complex Corporate Litigation; Complex Class Action Litigation, Consumer Advocacy.
Admitted: 1989, Illinois Law School: John Marshall Law School: J.D., 1989
College: University of Arizona, 1978; University of San Francisco, B.A., English, 1980
Member: Chicago (Chair, Public Utilities Committee, 1997-1998), Illinois State and American Bar Associations.
Biography: Assistant State’s Attorney, Cook County, Illinois, 1985-1993. Executive Assistant, Illinois Commerce Commission, 1993-1996. Member, Mayor Daley’s Council of Technology Advisors, 2003-. President and General Counsel, Competitive Strategies Group, 1996-2000. Contributing Author, International Engineering Consortium. Published Articles on Legal and Policy Issues.
Languages: Spanish and German.
Born: Chicago, Illinois, October 9, 1958
Bar Number: 905393375

If you are interested in reading the governing laws behind our service,
the Fair Credit Reporting Act and the Fair Debt Collection Practice Act,
please click on the links below: http://www.creditdefenseleague.com/about-us.htm

]]> by: Joe Poole http://abiworld.net/crackingthecode/index.php?p=11#comments Fri, 1 Sep 2006 11:09:30 -0400 5597:11@http://abiworld.net/crackingthecode Where can I find an evaluation firm, that might take my case on contingency ? I have an interesting case that involves a new technology, (helicopter rescue equipment), that I conceived but trusted others, who are in the industry, where I may have endangered my potential patent rights, but I do have a registered copyright, that I want to develope into a, “motion graphic", for commercial use. Have details and am willing to share. Jp Where can I find an evaluation firm, that might take my case on contingency ?
I have an interesting case that involves a new technology,
(helicopter rescue equipment), that I conceived but trusted others, who are in the industry, where I may have endangered my potential patent rights, but I do have a registered copyright, that I want to develope into a, “motion graphic", for commercial use. Have details and am willing to share.

Jp

]]> by: george malt http://abiworld.net/crackingthecode/index.php?p=34#comments Tue, 29 Aug 2006 12:05:45 -0400 5544:34@http://abiworld.net/crackingthecode How do I get an attorney to make a motion to buy out the chapter 13? I am a mortgage broker with a problem. How do I get an attorney to make a motion to buy out the chapter 13?
I am a mortgage broker with a problem.

]]> by: Shawn Peck http://abiworld.net/crackingthecode/index.php?p=34#comments Fri, 4 Aug 2006 19:31:49 -0400 4976:34@http://abiworld.net/crackingthecode A chapter 13 buyout is a niche I too have focused on over the past four years as a broker in Southen New Jersey. Under Bankruptcy law after 36 months a debtor is not required to pay 100% of the BK. Anthing prior will likely result in a payoff figure higher than anticipated. I have never encountered a bank intentionally processing a payment late. If the bank is intentionally doing this an underwriter would likely disreguard this history with Checks from the borrower proving payment was sent prior to the 30 day late period. What many people including LO’s forget is that a mortgage is typically DUE the 1st of the month not the 15th. It is the debtors burden to make sure the lender recieves the payment on time. Many lenders offer an express pay by phone option which is convenient and instant payment. The only consistent problem I have encountered is(which can be addressed to the debtors attorney prior to filing a motion) is mortgage arrears/interest appearing in the mortgage payoff and the chapter 13 plan. When the lawyer files the motion, the language in the order from the judge determines if the arrears are payable directly or indirectly(per the trustee)this is easily remedied by a verbal clarification from the trustees office to back out the mortgage arrears from the BK payoff so this isnt paid twice. In the event an underwriter will not accepts this (i.e. option one never will) the arrears will be paid in the BK and to the Mortgagee. By law the overage has to be returned to the debtor in 45 days max. The fees charged by the mortgagee sometimes are high and chock full of junk fees… But the big picture is a small price to pay to get out of a bad situation. Most borrowers FICO are higher in a BK then 7 years later when it falls of their credit report. This is because people with public records and BK’s on credit are scored on cards 9 and 10. The other credit pool is scored on cards 1-8 using Fair Issacs proprietary formula. Shawn Peck Chapter 13 specialist Brink Mortgage LLC 856-858-1176 ext 108 A chapter 13 buyout is a niche I too have focused on over the past four years as a broker in Southen New Jersey. Under Bankruptcy law after 36 months a debtor is not required to pay 100% of the BK. Anthing prior will likely result in a payoff figure higher than anticipated. I have never encountered a bank intentionally processing a payment late. If the bank is intentionally doing this an underwriter would likely disreguard this history with Checks from the borrower proving payment was sent prior to the 30 day late period. What many people including LO’s forget is that a mortgage is typically DUE the 1st of the month not the 15th. It is the debtors burden to make sure the lender recieves the payment on time. Many lenders offer an express pay by phone option which is convenient and instant payment. The only consistent problem I have encountered is(which can be addressed to the debtors attorney prior to filing a motion) is mortgage arrears/interest appearing in the mortgage payoff and the chapter 13 plan. When the lawyer files the motion, the language in the order from the judge determines if the arrears are payable directly or indirectly(per the trustee)this is easily remedied by a verbal clarification from the trustees office to back out the mortgage arrears from the BK payoff so this isnt paid twice. In the event an underwriter will not accepts this (i.e. option one never will) the arrears will be paid in the BK and to the Mortgagee. By law the overage has to be returned to the debtor in 45 days max. The fees charged by the mortgagee sometimes are high and chock full of junk fees… But the big picture is a small price to pay to get out of a bad situation. Most borrowers FICO are higher in a BK then 7 years later when it falls of their credit report. This is because people with public records and BK’s on credit are scored on cards 9 and 10. The other credit pool is scored on cards 1-8 using Fair Issacs proprietary formula.
Shawn Peck
Chapter 13 specialist
Brink Mortgage LLC
856-858-1176 ext 108

]]> by: Richard A. Golden http://abiworld.net/crackingthecode/index.php?p=39#comments Mon, 24 Jul 2006 16:26:17 -0400 4688:39@http://abiworld.net/crackingthecode I have yet to see any discussion as to the limitations in bankruptcy of the 11th Amendment’s language prohibiting suits against States by “citizens” of another State. Is not a preference action essentially an action by the (bankruptcy) court itself against a transferee? This is, of course, consonant with the holding of Katz; but the courts appear not to have articulated the 11th Amendment in this fashion. I have yet to see any discussion as to the limitations in bankruptcy of the 11th Amendment’s language prohibiting suits against States by “citizens” of another State. Is not a preference action essentially an action by the (bankruptcy) court itself against a transferee? This is, of course, consonant with the holding of Katz; but the courts appear not to have articulated the 11th Amendment in this fashion.

]]> by: Michael Deasy http://abiworld.net/crackingthecode/index.php?p=43#comments Wed, 19 Jul 2006 06:00:44 -0400 4563:43@http://abiworld.net/crackingthecode The majority opinion, authored by Justice Ginsburg, is based on a holistic, contextual approach to interpretation of the language of section 507(a)(5). The dissent utilized a plain meaning approach. So how do Justices Roberts, Scalia and Thomas end up with the majority and Justice Souter end up with the dissent? Is plain meaning now less important in statutory interpretation, or at least in interpretation of the Bankruptcy Code? Is a contextual approach at least a competing valid approach to statutory interpretation? Past performance may not be a predictor of future results. I think that the real story in this opinion is the Supreme Court’s favorable citation to the thirty year old First Circuit decision in Mammoth Mart, 536 F.2d 950 (1st Cir. 1976), on the importance of the bankruptcy policy of equality of distribution. The majority opinion, authored by Justice Ginsburg, is based on a holistic, contextual approach to interpretation of the language of section 507(a)(5). The dissent utilized a plain meaning approach. So how do Justices Roberts, Scalia and Thomas end up with the majority and Justice Souter end up with the dissent? Is plain meaning now less important in statutory interpretation, or at least in interpretation of the Bankruptcy Code? Is a contextual approach at least a competing valid approach to statutory interpretation? Past performance may not be a predictor of future results.

I think that the real story in this opinion is the Supreme Court’s favorable citation to the thirty year old First Circuit decision in Mammoth Mart, 536 F.2d 950 (1st Cir. 1976), on the importance of the bankruptcy policy of equality of distribution.

]]> by: JT http://abiworld.net/crackingthecode/index.php?p=34#comments Tue, 11 Jul 2006 09:03:32 -0400 4445:34@http://abiworld.net/crackingthecode The attached URI is a ruling from the great state of Missouri. Question, does this mean 60 month plans can no longer be paid off early unless they provide for 100% to unsecured? The attached URI is a ruling from the great state of Missouri. Question, does this mean 60 month plans can no longer be paid off early unless they provide for 100% to unsecured?

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