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Per Bankruptcy Code section 104, the dollar amounts in the Bankruptcy Code are adjusted every three years to account for inflation. The next increase will take effect April 1, 2022 and include increases for the debt limits to chapter 12 and chapter 13 bankruptcy...
By: Dean A. Langdon Thousands of households had the opportunity to get a break on their mortgage payments during the Covid-19 pandemic. Foreclosures on many residential mortgages were prohibited, which certainly helped avoid a homelessness crisis during the pandemic....
In 2021, DelCotto Law Group PLLC filed more chapter 11 bankruptcy cases in the Eastern District of Kentucky than any other firm. [1] Chapter 11 bankruptcy provides an opportunity for corporations to restructure their organizations through implementation of a repayment...
Chapter 13 bankruptcy permits individuals with regular income to file a three to five-year repayment plan to address their debts. There are several advantages to filing Chapter 13 bankruptcy as opposed to Chapter 7 bankruptcy. Here are (5) five primary reasons...
Bankruptcy Judge Charles R. Merrill issued an opinion[1] on January 10, 2022 that proceeds from the pre-petition sale of a homestead not being exempt under the federal exemption 11 U.S.C. §522(d)(1. This provides, in relevant part, for an exemption in “the debtor’s...
By: Dean A. Langdon DelCotto Law Group has many small business owners as clients. When a small business borrows funds, the lender often requires a personal guarantee from the business owners. A recurring issue is what happens to the guarantee if a business falters or...
By: Dean A. Langdon It has long been the rule in bankruptcy cases that the price received for real property at a foreclosure sale was “reasonably equivalent value” and the transfer could not be set aside as a fraudulent transfer under 11 U.S.C. § 548. BFP v....
By: Laura Day DelCotto I don’t think I ever knew that there is an “American Gambling Association” but it does exist. The Association recently estimated that over 45 million Americans will be betting on NFL football games during the 2021 season. Much of this gambling...
By: Dean A. Langdon One of the federal laws that exists to protect consumers is the Fair Debt Collection Practices Act (the “FDCPA”). The FDCPA covers third-party debt collectors who are in the business of collecting consumer debts and generally prohibits harassing,...
DelCotto Law Group PLLC is pleased to announce that we have been recognized in the 2022 U.S. News-Best Lawyers® “Best Law Firms” in the practice areas of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law (Tier 1). Best Lawyers® and U.S. News...
