WEST HOLLYWOOD, CA - NOVEMBER 10: Octomum Nadya Suleman and her large family plus helpers launch their signature Milkshake at 'Millions of Milkshakes' on November 10, 2010 in West Hollywood, California. (Image credit: Getty Images via @daylife)
Paperwork when filing a bankruptcy is very important in the bankruptcy process. The paperwork filed in your petition should include all the information a court needs in able for a court to make all the legal decisions in deciding your case. Without all the information, the court will not be able to help you utilize the full extent of bankruptcy laws.
The paperwork is so necessary and serious in bankruptcy cases that if you do not have all the paperwork or you have made blatant errors on the information provided in the paperwork, you could have your bankruptcy case dismissed.
As an example of paperwork’s importance in bankruptcy, “Octomom” Nadya Suleman had her recent bankruptcy case thrown out of court after she failed to complete and file the proper paperwork. She failed to include over a dozen financial documents required to support her case. She was given extra days to get the paperwork in but failed to meet the deadline.
The famous mother, who gave birth to eight babies at one time and has six other children, claimed to have somewhere in between $500,000 and $1 million dollars of debt she was trying to get discharged in her bankruptcy. She also claimed she had no assets available to pay off her debts.
There has been no indication Suleman filed with the assistance of a bankruptcy attorney, so she most likely filed Pro Se. Her failure to complete the documents required for filing a petition is a good example of how complicated the paperwork can be in some bankruptcy cases. Suleman filed a Chapter 7 bankruptcy, the simplest type of bankruptcy a debtor can file.
Having a bankruptcy dismissed can be a minor or serious offense against the bankruptcy system. Most dismissals are like the Suleman example. Messing up the paperwork is serious to your efforts at filing bankruptcy, but it does not mean you cannot file again in the future.
What it does mean is that Suleman, if she elects to file again within a year, will have protection of the automatic stay for only 30 days unless she files a motion to extend the stay once she has refiled her case. It will be up to the bankruptcy judge whether or not he will accept the request for extension.
If you bankruptcy is dismissed, you will automatically lose the effects of the automatic stay. Your creditors will be free to pursue collection, foreclosure, or repossession activities once again.
In Suleman’s case, one of the reasons she filed bankruptcy was to stop foreclosure on her house. With the dismissal, she now stands to lose the roof over her head, and over the fourteen children heads depending on her.
More serious dismissals are made “for cause.” In bankruptcy legal jargon, getting a bankruptcy dismissed “for cause” usually relates to fraudulent activity or failing to obey certain bankruptcy court orders. When you get dismissed “for cause,” you may lose your right to file bankruptcy forever, depending on your case and what the bankruptcy court judge decides.
Paperwork when filing bankruptcy is very important. If the paperwork is too complicated for you, consider getting a bankruptcy lawyer to help you.
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Seal of the United States Court of Appeals for the Eleventh Circuit. (Photo credit: Wikipedia)
The Eleventh Circuit Court of Appeals in Atlanta, Georgia, recently provided a shot in the arm for lien stripping off wholly unsecured liens in a Chapter 7 bankruptcy. The decision was passed down on May 11, 2012.
In In re McNeal, No. 11-11352, the court found that once a lien is determined to be wholly unsecured under section 506(a) it may be stripped off under section 506(d), which provides “[t]o the extent that a lien secures a claim against the debtor that is not an allowed secured claim, such lien is void.”
Secured liens typically pass through bankruptcy unscathed. They cannot be discharged in a Chapter 7.
Recently, questions have arisen within bankruptcy courts about liens that are related wholly to unsecured debt. In bankruptcy circles, a secondary lien becomes wholly unsecured when the secured asset loses its market value to at or below the primary loan value. Historically, primary or secondary liens have not been stripped in a Chapter 7 bankruptcy. In re McNeal changes all of that.
McNeal, after filing for bankruptcy under a Chapter 7, reported that her mortgage was subject to two mortgage liens, $176,413 held by the primary lender and a second priority loan in the amount of $44,444. Her fair market value on the home was reported at $141,416, to which none of the parties disputed.
McNeal sought to strip off the second priority lien based on the grounds the primary lien exceeded the fair market value, and the junior lien was now wholly unsecured.
McNeal’s attorneys used 506 (d) of the code to support their claim but was denied by the bankruptcy court. The district court affirmed the bankruptcy court ruling.
McNeal then appealed to the Eleventh Circuit Court of Appeals which reversed and remanded the decision based on the fact that the Supreme Court’s decision in Dewsnup v Timm, 502 U.S. 410 (1992), was not clearly on point. Under the prior panel precedent rule, “a later panel may depart from an earlier panel’s decision only when the intervening Supreme Court decision is clearly ‘on point.’”
In this particular case, the Eleventh Circuit Judge deemed that this case was not on point in Desnup v Timm because the finding was based on the stripping of a lien during a Chapter 7 that was partially secured instead of wholly unsecured. This small difference was enough for the judge to take the minority view that a wholly unsecured debt voids a lien under section 506 (d).
Typically in times past, a debtor would file a Chapter 13 if they wanted to strip a lien on a secured debt. The results of In re McNeal sets a precedent now where you might be able to strip a lien while filing a Chapter 7. This is the first circuit level court to reach this decision.
Only time will tell how the decision affects the rest of the Chapter 7 filings. If you have mortgage issues, it would be best to consult with your bankruptcy lawyer before you make any plans to live without one of its secondary liens.
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Mortgage rates historical trends (Photo credit: Wikipedia)
Reaffirmation is a legal process where a debtor who is filing bankruptcy is willing to sign a reaffirmation agreement with a lender who has a secured loan with the debtor. The debtor basically agrees to give up their right to a bankruptcy discharge for that particular debt, and the lender agrees not to foreclose or repossess the property because the debtor has filed bankruptcy. A reaffirmation agreement can be for any kind of secured asset in which the debtor owes monies for the asset.
The legal process of reaffirmation in bankruptcy requires a filing debtor to be counseled either by their lawyer and/or a bankruptcy judge about the legal ramifications of signing a reaffirmation agreement with a lender on a secured asset. A lawyer or bankruptcy judge has to sign the reaffirmation petition to the court as proof they counseled with the filing debtor.
Many bankruptcy lawyers refuse to sign off on a reaffirmation agreement because it puts their clients at a disadvantage later on if something goes wrong, and their client defaults on the loan. If a debtor later defaults on a reaffirmed loan, the debtor has no further bankruptcy recourse and must deal with collections from the debtor. In the opinion of some legal experts, that kind of result more or less violates the spirit of filing for bankruptcy protection from the very beginning.
There is a spot on a bankruptcy petition that a filing debtor can check to indicate their desire to reaffirm a loan. It is not a binding and legal part of the process though. When the box is checked, it simply alerts the court of the intention of the filing debtor. Before an affirmation is binding in bankruptcy court, the affirmation agreement has to be signed by both parties and by the debtor’s lawyer and/or bankruptcy judge. The bankruptcy judge ultimately approves or disallows the agreement.
Here is an example of a debtor who probably did not reaffirm his mortgage loan and wanted to get rid of the home after having a Chapter 7 bankruptcy discharge prior to determining the need to vacate: “I moved from Utah to Southern California last summer due to a job transfer. Did the Chapter 7 back in 2010, discharged at the end of that August. Marked the box reaffirm on the bankruptcy paperwork, but never did any paperwork with the bank. The mortgage is still being reported on my credit reports, and I am still current on my payments. Ideally, I’d like to get rid of the house. However, I’m trying to do the right thing and not let it go into foreclosure or do a short sell.”
Other than marking the box for affirming his intention on the bankruptcy petition, there is no real indication the debtor signed an affirmation agreement during the bankruptcy process. If he did not, that means the mortgage was discharged in the Chapter 7 bankruptcy, and if that is the case, the debtor can legally walk away from the house at any time he wants to without fear the mortgage company can come after him for the debt.
It really doesn’t matter whether the debtor has been making payments on the loan. Just because you get a discharge does not mean you cannot still pay on your discharged debts.
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Virginia (Photo credit: taberandrew)
A Chapter 7 bankruptcy is the simplest type of bankruptcy you can file, but bankruptcy laws can get complicated when it comes to determining what assets you can keep for filing that particular type of bankruptcy. State and/or federal exemption laws come into play in determining which property is protected from liquidation. So, what property in Virginia can you keep in bankruptcy?
Virginia just updated their bankruptcy exemption laws due to go into effect on July 1, 2012. Here is an incomplete list of exempt property under state and federal exemption statutes for Virginia:
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Personal Items: You can keep The Family Bible; wedding and engagement rings; clothes not to exceed $1,000 in value; one firearm not to exceed $3,000 in value; all household furnishings including appliances and sewing machine not to exceed $5,000 in value; family portraits and heirlooms not to exceed $5,000 in value; a burial ground lot and/or a pre-need funeral contract not to exceed $5,000; and medically prescribed health aides.
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Animals: All animals owned as pets, such as cats, dogs, birds, squirrels, rabbits, and other pets not kept or raised for sale or profit.
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Tools of the Trade: Tools, books, instruments, implements, equipment, and machines, including motor vehicles, vessels, and aircraft, which are necessary for use in the course of the householder’s occupation or trade not exceeding $10,000 in value, except that a perfected security interest on such personal property shall have priority over the claim of exemption under this section. A motor vehicle, vessel or aircraft used to commute to and from a place of occupation or trade and not otherwise necessary for use in the course of such occupation or trade shall not be exempt under this subdivision. “Occupation,” as used in this subdivision, includes enrollment in any public or private elementary, secondary, or career and technical education school or institution of higher education.
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Motor vehicle: one motor vehicle, not exempt as a tool of trade, shall not exceed $6,000 in value.
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Homestead: A homestead exemption is allowed up to $5,000 and up to $15,000 for a surviving spouse.
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Money Held In Account: Retirement accounts held in 401(k), 403 (b), 457, and IRA accounts; retirements of state and local government employees; Social Security, Disability, and money received in a personal injury; wages are ¾ exempt; and you can use your $5,000 homestead exemption under this category if you do not apply the amount to your home.
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Other: This list is not a complete list of Virginia exemptions, so there may be other exemptions not listed, either state or federal, that you might be eligible to use in filing your bankruptcy.
All items listed in the exempt section above should be figured at fair market value and condition they are in at the time of filing. Security interest should not be included.
To understand completely the bankruptcy exemption laws for Virginia, it is recommended you retain a bankruptcy lawyer in Virginia to handle your bankruptcy case.
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If bankruptcy is any kind indicator of how an economy is basically doing, those in the country of England need to be aware of the latest bankruptcy statistics. After a series of quarterly improvements, England has reported a 5.5 percent increase in bankruptcies filed for the first quarter of 2012.
The Consumer Credit Counseling Service (CCCS) in England reported “it expects personal insolvencies to rise over the next year due to factors including high inflation, redundancy and welfare benefit changes, and warned that six million households are living on the edge.”
With similar reports coming out of places, like Germany, Spain, and Greece, the United States economy might be beginning a recovery, but a lot the rest of the world is still in the Great Recession, also known as the Global Financial crisis.
Although the worldwide financial scene looks gloomy, many prognosticators are predicting the worldwide recession may very well end within two years.
So, what does all of this have to do with those of us who live in the United States?
President Obama’s administration officially announced the recession ended for the United States in 2009, but unfortunately, we are no longer a self dependent nation. We are tied into the world economy just like a lot of other countries, and what happens around the world can still have an economic impact on our nation as a whole.
Bankruptcy figures are a tell-tale sign of how an economy is doing. In the United States, there has been a consistent drop in the number of bankruptcy filings for the past fourteen months. The economy, although somewhat stagnant and not having significantly lowered the unemployment rate, has plodded along showing a very slight growth.
The rest of the economic world cannot say the same, especially in Europe’s Greece. There, confidence between Greece’s citizens and their politicians have eroded resulting in a recently elected new mixed parliament that will not come to a coalition in agreeing on the latest bail out from the European Union and its banks. Greece is basically bankrupt as a nation and the European Union countries are quick to voice that Greece can have its freedom if they do not stand behind the latest agreement.
If Greece economically defaults, other European countries can follow. This places the European Union in more financial straights which could postpone any quick recovery of their economy from the recession.
If these events occur, the United States will be dragged down with the countries directly proportionately with the economic ties we have with them. Already in debt beyond our resources, the blow of a melt down could hurt. Some feel the economic health of Europe is vital to United States prosperity.
Others believe the International Monetary Fund’s (IMF) strength to lend a substantial amount to the European problem can help overcome the potential melt down. Thriving and developing nations like China contribute to the support of the IMF.
Whichever way the economic world situation plays out, the problems will most likely come to a head before the United States elections occur this year.
Keep an eye on bankruptcies numbers because they can indicate which way the economic wind is blowing.
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lawsuit lotto (Photo credit: Shira Golding)
A Personal Bankruptcy Story
This personal bankruptcy story was shared on a bankruptcy forum website today:
“I was served a summons for credit card debt for about $14K two days ago. I called a bankruptcy attorney and explained my financial status (over 60, no income, name not on any property, $90 total in 3 separate checking account, a small brokerage account, a 1994 SUV in my name and we live on my spouse’s soc. security check). I also owe another $9K to 3 other credit cards (2 of which I recently had to quit paying). Last year I had $65K of cc debt I managed to get settled to around $23, but this one cc wouldn’t take the same settlement offer I could offer at the time. The attorney said I was basically judgment proof and he said I shouldn’t hire an attorney just to answer this summons.”
Technically, saying the debtor is judgment proof in the above example is a misnomer. The proper name used should have been collection proof.
The Difference between Collection Proof and Judgment Proof
A judgment is a legal term used when a plaintiff files and wins a civil lawsuit against a defendant. The plaintiff gets a judgment from a ruling court judge on the petition filed. With a judgment from a legal court of jurisdiction, a creditor can attach liens, seize some assets, and garnish wages when it is legal to do so.
A judgment may become meaningless when a bankruptcy is filed. Liens pass through a bankruptcy unscathed but debts can be discharged. Because a debtor has no assets to attach a lien does not mean he or she is judgment proof. A creditor can still get a judgment against you in a court of law, they just will not be able to collect anything from you. The only time you are completely judgment proof is when you as a defendant win a lawsuit against you.
The proper name for not being able to collect anything from a debtor for a debt owed is collection proof. If you live in a state that does not allow garnishment of wages for debts, like Texas for instance, and you have no assets to attach liens to, then you are considered collection proof.
Being collection proof, you can wait until the statute of limitations run out, and a creditor will not be able to legally collect the debt from you. A creditor can get you to restart the time limit on the statute of limitations if you acknowledge you owe the debt by making a payment on the debt after the limit time has passed.
Understanding the Implications of a Judgment
When you are collection proof, there is really no reason for you to file for bankruptcy protection because you have no assets to protect that a creditor with a judgment can get from you.
Understanding what the implications of a judgment can do to a person that is presumed to be collection proof can have complicated legal issues. Any time you are facing a lawsuit for collections that might force you into bankruptcy, it might be wise to solicit the help of an experienced bankruptcy attorney who can help you answer questions for your particular situation.
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Bankruptcy Filings... (Photo credit: MyEyeSees)
For those of you who are considering filing bankruptcy in 2012, there is some good news and there is some bad news on the bankruptcy front.
The good news is that the federal government has recently, as of May 1, 2012, posted the median amount of income across the United States used in figuring the means test qualification for filing a Chapter 7 bankruptcy. In many cases, the good news is that this is an increase for most families facing bankruptcy in 2012. The bad news is that the increases still don’t meet the levels before the 2007 recession and more people are out of work.
A Chapter 7 is the simplest type of bankruptcy and is filed by most individuals. Depending on where you live, there are advantages for people with no assets filing a Chapter 7. A Chapter 7 is a liquidation type of bankruptcy where a bankruptcy trustee will take your non-exempt assets and liquidate them to distribute the proceeds to your unsecured creditors. Any unpaid debt after distribution by the trustee will be discharged as forgiven. Most Chapter 7 bankruptcies are no asset cases.
To qualify for a Chapter 7, your family income must be at or below the median income for a family your size within the area in which you live. The median income going up in the new charts is good news for those who are bankrupt because it means more debtors can take advantage of a Chapter 7 filing.
If your income is not at or below the median, you can take the means test and still qualify. To pass the means test, you must have less than a certain amount of disposable monthly income to service unsecured debt. If your disposable income is more than what is allowed, you will have to file a Chapter 13 if you still want to file for bankruptcy protection.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 that was legislated by Congress is the basis for means testing under current bankruptcy law. It was once thought that passing the new guidelines would curtail bankruptcies, but for the most part, the law has made more paper work and added additional costs to filing. If anything, the law has hurt the poorer debtors most in need of filing.
If majority of your debts are non-consumer debts, you can file a Chapter 7 without having to qualify for the means test. Consumer debts are those debts primarily incurred for the purpose of household use. Non-consumer debts are those debts incurred for the motive of profit. If you work in your own business, you are most likely to incur non-consumer debt. So, if more than 50 percent of your debt is non-consumer, you do not have to qualify for a Chapter 7 by passing the means test.
It is always bad news when you have to file for bankruptcy protection, but the good news is that you don’t have to do it alone. Ask about our experienced bankruptcy lawyers that can help you decide what type of bankruptcy to file in your particular situation.
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Photo of Bank of America ATM Machine by Brian Katt, Framingham Rest Stop, Massachusetts. (Photo credit: Wikipedia)
According to an Associated Press release, Bank of America, in response to it part in a multi-billion dollar lawsuit settlement over foreclosure abuses, is sending out thousands of letters to offer homeowners a new program for home loan modification.
As part of the deal, Bank of America will be offering to reduce some of the luckier homeowner’s principal owed by as much as $100,000. The company estimates that more than 200,000 of its customers could potentially be in line for reduction of their principal balance on the mortgage at this time.
Bank of America began compliance with its part of the settlement in March, focusing on homeowners who already had a loan modification bid under review. The bank mailed over 5,000 modification offers, representing more than $700 million in forgiven principal balances.
Bank of America received the largest penalty of the five banks who made the multiple state settlement. Bank of America’s part was $11.8 billion dollars of a total of $25 billion in penalties.
The settlement is earmarked for an estimated 1 million households that owe more on their mortgages than their houses are worth. That statistic compares to 11 million citizens in the United States whose houses are “underwater” on their mortgages.
Bank of America, along with other large mortgage lenders, stopped processing foreclosures in 2010 when they were first made aware of wrong doings in “robo signing.” It is estimated that there is still over 5.59 million homes in the foreclosure process and over 1.4 million homes on the foreclosure market as of May 1, 2012.
The home loan modification efforts by Bank of America should be the beginning of the end for their part in the United States mortgage crisis, when home values suddenly dropped forcing many Americans into foreclosure.
Before all of this can mean anything, though, there still has to be an acceptance by the homeowners, that is, if they qualify for the modifications. In order to qualify, a borrower has to owe more on the mortgage than the house is currently worth, and the borrower’s loan must be owned by Bank of America.
To qualify for the modification, the homeowner must answer the letter with full documentation of income to show under the new terms they can still make the new monthly payment. The monthly payment must be more than 25 percent of their gross income.
If you qualify for the new modification, Bank of America will bring your monthly payment down to 25 percent of your gross income. That could mean principal forgiveness in excess of $100,000 for some borrowers.
Potentially, Bank of America could pay out more than there settlement amount of $11.8 billion to customers, but they are figuring some customers either do not want their house back or have already abandoned the house.
Foreclosures is one of the leading causes for bankruptcy filings in the United States. If you are currently being foreclosed on, and you do not qualify for a loan modification, allow us to contact a local bankruptcy attorney in your area.
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Seal of the United States bankruptcy court. Church of Scientology attorney Steven Hayes bought rights to the Cult Awareness Network assets during its bankruptcy proceedings. (Photo credit: Wikipedia)
Bankruptcy was enacted by Congress to give debtors a chance at a fresh financial start from their burdensome debts. The Supreme Court made this very point about the purpose of filing bankruptcy when it wrote this in a 1934 decision:
“It gives to the honest but unfortunate debtor…a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.”
The overriding idea behind filing for bankruptcy protection is to protect enough of your assets in order to be able to make a fresh start. That is why state exemption laws have been made for the benefit of the debtors. Filing for bankruptcy protection guarantees certain assets for the debtors to make the new start.
Nevertheless, it is still a good idea to avoid filing bankruptcy when you can, so here are 5 good reasons to avoid filing bankruptcy if at all possible:
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Not all your assets are protected: Depending on which bankruptcy you file, and depending on whether you use state or federal exemption laws, not all assets are protected against liquidation. You can lose a house, your cars, some retirement accounts, and any asset that is not protected by full exemption amounts when you file. In some situations, you may not lose these assets through other court avenues.
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Not all debts are discharged by bankruptcy: Obligatory debts such as student loans, certain tax debt, child or spousal support, certain court orders, and fraudulent debt cannot be discharged in most circumstances in a bankruptcy. An exception of these bankruptcy laws can be made for undue hardship if the debtor can prove their case before a bankruptcy court. If much of your debts are in these categories, it may be wise to forgo filing bankruptcy.
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Your credit score will take a bad hit for up to 10 years: Filing bankruptcy stays on your credit score for up to 10 years. The initial filing can cause your credit score to tumble as much as 250 points if your scores have not already done so. People can live without good credit scores, but good scores help you in making various loans and obtaining rental property.
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Creditors can foreclose or repossess your property: The automatic stay of bankruptcy prevents any collection activity like foreclosure and repossessions during the bankruptcy process, but most secured liens are held with the condition that filing bankruptcy is a default of the loan, regardless of your payment history. That means the creditors can start the foreclosure or repossession process as soon as the automatic stay is lifted.
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There may be debt relief alternatives to filing bankruptcy: Sometimes doing nothing, negotiating with creditors, debt settlement, and debt management can all be alternatives to filing bankruptcy, depending on your particular situation.
Although filing for bankruptcy protection is the Constitutional right of every American, you might want to avoid filing if you can. Bankruptcy laws are complex and each individual situation is different. It would be wise to consult with an experienced bankruptcy attorney before deciding to file.
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Seal of the United States bankruptcy court. Church of Scientology attorney Steven Hayes bought rights to the Cult Awareness Network assets during its bankruptcy proceedings. (Photo credit: Wikipedia)
The Reaffirmation Agreement
A lot is written on bankruptcy law about the reaffirmation agreement in a Chapter 7 bankruptcy. A reaffirmation agreement is a contract between the debtor and creditor where the debtor agrees to be responsible for the debt the contract entails as if the debtor never filed bankruptcy against that particular debt. If there is a default later on, the debtor can be sued by the creditor as if the debt never went through bankruptcy.
Reaffirmation agreements are normally made on secured assets. In effect, a reaffirmation agreement made with a creditor effectively voids any effects filing a bankruptcy has on the debt. That is why bankruptcy law allows only the bankruptcy court the privilege of deciding whether a reaffirmation agreement is right for a debtor.
Before a debtor is allowed to go into a reaffirmation agreement with a creditor, a bankruptcy judge has an legal obligation by bankruptcy law to assure from the facts presented that the reaffirmation agreement represents a voluntary act by the debtor and that the reaffirmed debt will not pose an undue hardship on the debtor or his dependents. The debtor’s lawyer has the same responsibility to the bankruptcy court concerning the law. The attorney must sign a document stating that (1) the reaffirmation agreement is a fully informed and voluntary agreement by the debtor; (2) the agreement does not impose an undue hardship on the debtor or his dependents; and (3) that the attorney fully advised the debtor as to the legal effect and consequences of the reaffirmation agreement and default under the agreement.
A reaffirmation agreement is serious business, and unless the bankruptcy court approves the agreement, it will remain void and null.
The Ride Through Agreement
A ride through agreement is a different kind of agreement in bankruptcy terms. The automatic stay of bankruptcy prevents secured lien holders from foreclosing on or repossessing assets during the bankruptcy unless they successfully petition the court to lift the stay.
Just because you have filed bankruptcy and kept your payments up on secured property does not necessarily mean your creditors will allow you to ride through the bankruptcy in possession of the property. Many of the contracts for secured loans include a bankruptcy clause. This clause states that if you file bankruptcy during the contract term, you are automatically in default whether or not you are up to date on your payments. As a result, many secured creditors will foreclose or repossess the assets when the automatic stay has been lifted even if the bankruptcy is still in process.
A ride through agreement is where you and your secured creditor agree to allow you to continue paying on the loan during the bankruptcy, and the creditor agrees not to foreclose or repossess the asset. You, therefore, ride through the bankruptcy as the in tact owner of your asset and will continue to own it as long as you make payments.
Some creditors will voluntarily allow ride through agreements where others will not. Because of these individual preferences, bankruptcy laws are continually being challenged when it comes to ride through agreements.
Recent precedences have been set by court cases that influence how courts handle ride through cases. In North Carolina recently, In re: Bowden , the court found could get a ride through without further judicial action when the debtor’s lawyer refused to sign off and struck down the creditors right for a reaffirmation agreement.
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