Michigan Bankruptcy and Rental Property Rent Money. After you file for bankruptcy in Michigan, the rents from your rental property become property of the estate. The trustee exercises full authority and control over those rent monies. The only way that the mortgage company can get control of the rents is to file a motion with…
Archives for bankruptcy in michigan
Bankruptcy in Michigan- Can an “Undocumented” Immigrant File for Bankruptcy?
Michigan Bankruptcy Undocumented Immigrant. Yes. Eligibility for bankruptcy has nothing to do with immigration status even if that person used a fake social security number or false information to obtain credit. If there is no valid social security number – then the debtor files with their ITIN. The creditors can confirm their claims with the…
North Carolina Bankruptcy Judge Denies Debtors’ Motion to Convert from Chapter 7 to Chapter 13 Due to Bad Faith
Michigan Bankruptcy and Chapter 7 to 13 Conversion. The Chapter 7 Debtors failed to disclose in their petition their interests in various real estate partnerships and multiple foreclosure proceedings, which the Chapter 7 Trustee discovered through reviewing the Debtors’ tax return and public records. The Debtors then sought to convert to Chapter 13 and the…
Michigan Bankruptcy – 6th Circuit Says Avoidance Powers Allowed By Ch. 13 Debtor
Bankruptcy in Michigan-Avoidance Powers and Chapter 13. The issue of whether a Ch. 13 debtor has standing to exercise avoidance powers (normally) exclusive to the Standing Trustee was reviewed by a 6th Circuit Panel. The Bankruptcy Court for the Eastern District of KY held that Debtor Gary Barbee has standing to initiate an avoidance action,…
Bankruptcy in Michigan – Reviewing Court Can Comment About A Factual Finding Being Mistaken
Michigan Bankruptcy- Reviewing Court and Ruling on comments. A visiting bankruptcy judge presided over an evidentiary hearing on objections to certain claims filed. There were numerous related adversary proceedings pending. During the hearing the Liquidation Trustee submitted a proposed Dismissal Order, with the disclaimer that applicable parties disagreed over the terms. The Bankruptcy Court for…
Bankruptcies are on the rise in February of 2010
The new law Congress passed to slow down bankruptcy filings is not working. All the new law does is impose unnecessary cost burdens on you. 111,693 bankruptcy cases were filed in the US in February of 2010 – that is 9% increase from January. Chapter 7 filings are up and Chapter 13 filings are down….
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Free Michigan Bankruptcy Consultation Do we Offer a Free Consultaion? Yes. Go over right now, fill out the contact form and we can get your questions answered. You can also contact me through my website at www.mikeshovan.com, by email at mike@mikeshovan.com or you can call me direct at (989) 233-9389. Evening and weekend appointments are…