The United States Supreme Court has unanimously ruled that a junior mortgage that is 'under water' - that is, the value of the house is less than the senior mortgage - cannot be stripped down or removed as an unsecured claim in a chapter 7 bankruptcy. And yet, the...
Who would have thought that an endless lawsuit involving the late Anna Nicole Smith might be the vehicle for the Supreme Court to curtail the constitutional jurisdiction of Bankruptcy Courts? But the United States Supreme Court, in a 5-4 decision along the usual...
The Supreme Court issued a decision in Ransom v. Fia Card on January 11, interpreting the statutory provisions of the 'means test.' In brief, the Court states that debtors who do not have a car loan cannot claim the 'ownership expense' for that car on the means test...
United Student Aid Funds Inc. V. Francisco Espinoza United States Supreme Court case 08-1134 Oral arguments December 1, 2009 Can a student loan be discharged, even in part, in a Chapter 13 plan without a finding of "undue hardship"? More broadly, how final is a...