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STUDENT LOAN UPDATE

Since the enactment of the United States Bankruptcy Code in 1979, most debts are subject to a bankruptcy discharge, notable exceptions being taxes (and there are many exceptions to that exception), alimony and child support and student loans that are… Read More
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Categories: Uncategorized

WILL DETROIT STAND ALONE:

The City of Detroit may not be the only Michigan City to file for bankruptcy. Other Michigan cites, including Allen Park, Benton Harbor, Ecorse. Flint and Pontiac have all been run by Emergency Financial Managers. These cities and other political sub… Read More
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Categories: Bankruptcy

TUITION PAYMENTS FOR PRIVATE SCHOOL ARE NOT FRAUDULENT TRANSFERS

The Bankruptcy Court for the Eastern District of Michigan recently held that a parent may pay tuition to private school for their children and the payments cannot be recovered as a fraudulent Transfer. The name of the case was In re Karloak Case No.… Read More
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Categories: Bankruptcy

BANKRUPTCY OR DIVORCE, WHICH SHOULD COME FIRST.

There are four major reasons why a couple should file for bankruptcy prior to the divorce. Joint debtors have greater exemption rights than do individual debtors. A bankruptcy prior to divorce may eliminate non-dischargeable debts, such as hold-harml… Read More
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Categories: Bankruptcy

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