We’ve Moved – Check Out Our New Site!
WE’VE MOVED! CLICK HERE TO VISIT OUR NEW SITE The McFarland Law Group has expanded and is now McFarland Pyle & Stone LLC. Check out the new firm’s site and let us know what you think! WWW.MPSLAWOFFICES.COM
read moreWe’re Moving! Make Sure to Update Your Subscription
McFarlandLaw’s blog is moving, so make sure to update your subscription to our new blog at McFarland Pyle & Stone. From immigration law to bankruptcy, environmental and food law, our new blog will cover it. And now, we’ll be publishing all of the McFarlandLaw posts you’ve grown to love. So, if you haven’t joined us yet, you may have missed our free guides to filing bankruptcy, negotiating with creditors, and avoiding predatory phishing scams. To continue receiving these posts, you’ll need to update your...
read moreNew Bankruptcy Court Fee Schedule
The Judicial Conference of the United States recently approved increases to the bankruptcy courts‘ filing fees on September 13, which will become effective on November 1, 2011. The increased revenue generated by the new filing fees will be used to cover increasing costs to the Judiciary. As of November 1, 2011, the following bankruptcy filing fees will apply: Chapter 7: $306 Chapter 11: $1046 Chapter 13:...
read moreBankruptcy Glossary: “Consumer Debtor”
According to the US Bankruptcy Code, a “consumer debtor” is a person whose debts are primarily consumer debts. “Consumer debts” are debts incurred for personal needs – as opposed to business purchases. Examples of consumer debts include auto loans, home mortgages and credit cards used to purchase things like groceries, school supplies and...
read moreBankruptcy Glossary: “Claims” Against the Estate
A “claim” against a debtor’s bankruptcy estate is creditor’s allegation that it has a bona fide legal right to payment from the debtor or the debtor-in-possession if the case is filed under chapter 11. Because claims are used by creditors to legitimize the debts they are owed in the bankruptcy proceedings, it is commonly said that claims are made “against” a debtor’s bankruptcy estate. Chapter 5 of the US Bankruptcy Code (the “Code”) plays a critical role in identifying and processing...
read moreBankruptcy Glossary: The Bankruptcy “Estate”
A person or company’s bankruptcy “estate” is composed of all legal or equitable “interests in property” at the time of the bankruptcy filing – even if the property is owned or held by another person. When a person or company files bankruptcy in Colorado, an estate is created to make it easier for the court to administer the case. From a legal perspective, the debtor’s estate is a completely new entity and is treated separately from the debtor. Under section 541 of the US Bankruptcy Code (or simply the...
read moreBankruptcy Glossary: The Bankruptcy “Code”
The US Bankruptcy “Code” is the informal name used by lawyers and judges to describe the sections of federal law that govern the bankruptcy process. Regardless of whether the case is a chapter 7, 9, 11, 12 or 13 bankruptcy, the entire statutory text of bankruptcy can be found in title 11 of the United States Code – specifically 11 USC §§...
read moreBankruptcy Glossary: “Assume”
When you “assume” a contract in bankruptcy, you are agreeing to continue performing your duties under the contract. For example, if you currently have a monthly service contract with a cellphone provider – like AT&T, Verizon or T-Mobile – you are legally permitted to break your contract by filing bankruptcy. In some scenarios, this could be a good idea, especially if you can’t afford your monthly bill. If, however, you can afford to pay your monthly bill and you’d like to keep using your cellphone, you...
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