This is your go-to source for the latest updates on bankruptcy developments in Nebraska, Iowa and beyond. Stay informed about the dynamic landscape of bankruptcy law, emerging trends, and noteworthy news that could impact individuals and businesses seeking financial relief.
In Nebraska and Iowa, the digital age is reshaping how residents manage their finances. Emerging technologies such as online gambling, social media, and app-based spending are changing consumer behavior in profound ways. While these innovations offer convenience and entertainment, they also pose new risks that can lead to financial instability and, in some cases, bankruptcy….
The gig economy is something very unique, exciting, and freeing. It liberates regular people from the restrictions of corporate America and the hourly constraints of a “regular” job. In essence, the gig economy is a platform for a type of self-employment, be it big or small. It has the potential to unleash the American spirit…
The 2005 Bankruptcy Act is causing trouble in certain discharge of income tax cases On October 17, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act (“BAPCPA”) became fully effective as the law of the land. This bankruptcy law update made enormous changes to people needing to file bankruptcy. Strangely enough, even after being on…
My last two blogs have focused on wiping out student loan debt. The first blog, Wiping out Student Loans in Bankruptcy is Difficult discussed the general guidelines to obtain a discharge of a student loan in a bankruptcy proceeding. In general, it is a very challenging and frequently fruitless endeavor but not necessarily impossible. My…
Nebraska Legislature expands protection of the homestead exemptions, but other bills fail to pass. Previously, certain individuals could not protect the equity in their house if they encountered financial trouble in Nebraska. Please see my earlier bankruptcy exemption blog. In general, the old law allowed only the Head of the Household or individuals 65 years…
An Update on the “Tool of the Trade” Exemption in Nebraska I recently posted a blog that discussed lien avoidance and the “tool of the trade” exemption in Nebraska. The “tool of the trade” exemption was under fire after a local bankruptcy Judge ruled that a vehicle was no longer protected under the exemption if…
As of March 5, 2013, over 4,700 lawsuits have been filed in the County Court of Douglas County, Nebraska for 2013 alone! That averages out to be 104.4 new lawsuits every business day. And, that’s just in Douglas County. In Sarpy County, Nebraska , approximately 981 new lawsuits were filed in 2013 in the County Court…
On October 30, 2012, the United States Bankruptcy Appellate Panel for the Eighth Circuit issued a new opinion regarding the subject of discharging student loans in a bankruptcy proceeding. In the matter of Shaffer v. U.S. Department of Education, No. 12-601 (8th Cir. BAP Oct. 30, 2012), the Court addressed whether or not Susan M….