Kansas Woman Chairs FDIC

Meet Sheila Bair, a woman from Independence, Kansas, and a graduate of the University of Kansas Law School, who now chairs the Federal Deposit Insurance Corporation (FDIC).

Chapter 13 Bankruptcy Interest Rate

The Trustee’s discount interest rate effective 7/1/09 through 7/31/09 is 4.75%, William H. Griffin, the standing chapter 13 bankruptcy trustee for cases filed in Kansas City, KS, announced today.  This is the interest rate paid on secured claims in chapter 13 bankruptcy cases.

Shawnee County Scores 7.56% Financial Stress Rating, Up 2.20% from Year Ago

Here is an interactive map that shows financial strain in every county in the United States by the Associated Press.  It measures the impact of the economic recession and recovery by showing the rates of unemployment, foreclosure and bankruptcy.  Shawnee County, Kansas, has a 7.56% stress rating, 5.6% unemployment, 0.65% foreclosure and 1.4% bankruptcy rating.

Eron Law Offices Opened in Wichita

Attorney David P Eron

David P. Eron left his post with the Region 20 U.S. Trustee and opened his private law practice last week.  Eron will represent individuals and businesses in bankruptcy and business transactions.

He has three years experience as trial attorney with the U.S. Trustee, litigating substantial abuse and fraud issues and other matters in the U.S. Bankruptcy Courts in Kansas. [Read more…]

Kansas Bank Seized by Regulators

The First National Bank of Anthony in Harper County near the Oklahoma border was seized by bank regulars Friday.  The bank will reopen as a branch of the South Hutchinson-based SNB Bank of Kansas.

The bank has branches in Wichita, Olathe, Overland Park, Anthony, Harper and Mayfield.  SNB Bank of Kansas is part of  Southwest Bancorp. of Stillwater, OK.

This is the fourth failure of a Kansas financial institution in recent times.  The Columbian Bank and Trust of Topeka, Teambank of Paola and Central Federal Credit Union of Lenexa failed in 2008.

Mark Neis Recertified as Consumer Bankruptcy Law Specialist

Bankruptcy Specialist Mark Neis

Topeka attorney Mark W Neis has been recertified as a consumer bankruptcy law specialist by the American Board of Certification.

You expect certification from your doctor – expect it from your lawyer too. Board certification means that Neis has met rigorous, objective standards and has demonstrated knowledge in consumer bankruptcy law.  Mark Neis and his law partner, Jill Michaux are the only Topeka attorneys board certified in consumer bankruptcy law.

The American Board of Certification is the nation’s premier legal specialty certification organization – certifying attorneys as specialists in business bankruptcy, consumer bankruptcy and creditors’ rights law. Only eight Kansas attorneys are board certified in consumer bankruptcy law.

Mark Neis has been helping consumers and small business proprietors in chapter 7 and chapter 13 bankruptcy cases for 31 years.  He was board certified in 1993 and has been recertified every five years since. Call Mark today for bankruptcy help at 785-354-1471.

Jill Michaux Re-Elected to Bankruptcy Law Network Leadership Post

Bankruptcy Law Network

Jill A Michaux was re-elected to a second term as treasurer of the Bankruptcy Law Network, LLC, at its annual meeting May 31, 2009, in Chicago.  Bankruptcy Law Network, a group of 25 nationally recognized bankruptcy attorneys, provides four portals of free online information about bankruptcy, credit, debt and mortgages from trusted and reliable sources to more than 125,000 unique visitors each month.

Kansas Bankruptcy Institute April 24

“When All of the
Bailouts, Moratoria,
and Stimulus
Packages Just
Haven’t Worked…”

The 2009 Kansas Bankruptcy Institute will be April 24, 2009, at the Overland Park Doubletree Hotel.

9:00 a.m. Chapter 13 Update

William H. Griffin, Chapter 13 Trustee, Fairway
Jan Hamilton, Chapter 13 Trustee, Topeka
Christopher T. Micale, Staff Attorney for Laurie B. Williams, Chapter 13 Trustee, Wichita

10:30 a.m. Consumer Remedies for Lender Misconduct

Karen Kellett, Kellett Law Office, Dallas, Texas [Read more…]

Topeka Chapter 13 Trustee Inducted into American College of Bankruptcy

Jan Hamilton Trustee

Jan Hamilton Trustee

Jan Michael Hamilton, standing chapter 13 bankruptcy trustee for cases filed in Topeka, was inducted into the American College of Bankruptcy Friday.   Hamilton was in the private practice of law from 1973 through 1999 when he was named to the trustee post.

Hamilton traveled to Washington, D.C., for the ceremony at the U.S. Supreme Court building.  Thirty three attorneys and judges were in the 20th class inducted into the college.

The American College of Bankruptcy is an honorary association [Read more…]

Kansas Bank, Credit Union Seized

Government regulators seized two Kansas financial institutions March 20.

Bank regulators closed Teambank of Paola, Kansas.  Great Southern Bank of Missouri will assume its deposits.  Teambank’s failure will cost the deposit insurance fund an estimated $98 million.

Central Federal Credit Union of Lenexa was placed into conservatorship by the National Credit Union  Administration.

Call Kansas Senators to Support Judicial Mortgage Modification in Bankruptcy

Judicial modification of residential mortgages in chapter 13 bankruptcy is part of H.R. 1106, which passed in the U.S. House of Representatives last week.  The bill now moves to the U.S. Senate and may come up for a vote this week.  We need your help to get the bill passed into law.  Call your Kansas senators and tell them you support judicial modification of home mortgages in bankruptcy.

The bill is designed to stop the home foreclosure crisis and prevent people from losing their homes to mortgage foreclosure.  Using judicial modification in chapter 13 bankruptcy, the loan could be restructured by writing the principal down to the value of the home, fixing the interest rate at a reduced rate and extending the loan to 40 years.  Judicial modification will not save all homes, but will help Kansans who have been victimized by predatory lending.  It will give individual homeowners the same benefits corporations have in chapter 11 bankruptcy. The law change is necessary because lenders are not making voluntary loan modifications.  People who don’t file bankruptcy will be helped by the bill also.

You can help pass this legislation by calling or faxing your Kansas Senators today.  Tell the person who answers you support judicial modification of home mortgages in bankruptcy.  Sen. Sam Brownback,  (202) 224-6521, fax (202) 228-1265, and Sen. Pat Roberts, (202) 224-4774, fax (202) 224-3514.

Kansas Suspends Paying Tax Refunds

The State of Kansas suspended paying $12 million in income tax refunds today and may not have enough funds to pay employee payroll on Friday, according to the Topeka Capital-Journal citing Budget Director Duane Goossen.

The state ran short in its main bank account to pay its bills.  Governor Kathleen Sebelius proposed moving funds from other state accounts, which requires permission of the State Finance Council.  The Republicans on that council are withholding consent until the Governor signs the 2009 budget bill.

Kansas Gasoline Supplier Files Chapter 11 Bankruptcy

Crescent Oil Company, Inc., of Independence, Kansas, filed a chapter 11 bankruptcy proceeding in the Kansas Bankruptcy Court in Kansas City, Kansas. The company is a gasoline supplier to retailers in six midwestern states.

The petition for bankruptcy relief was filed by Attorney Lisa A. Epps of the Kansas City law firm, Spencer Fane Britt & Browne LLP. Bankruptcy Judge Robert D. Berger has been assigned to the case.

Information about the case 09-20258 can be found on the Kansas bankruptcy court’s website.

Bankruptcy for Capital-Journal Owner?

Morris Communications, the owner of the Topeka Capital-Journal, and 12 other daily newspapers, is considering its financial options.  The company has hired a well-known Chicago bankruptcy law firm.

Debtors Arrested for Ignoring Bankruptcy Court Orders, Spending Tax Refunds

Spending a tax refund that belongs to a bankruptcy estate or ignoring court orders may get you arrested by the U.S. Marshals Service and brought before the bankruptcy judge for contempt of court.

The moral of the story is don’t spend your tax refunds without talking to your bankruptcy lawyer first to make sure they are your refunds to spend.  Spending a refund that belongs to the bankruptcy estate can get you in a lot of hot water including denial of your discharge, judgment for the money and arrest if you ignore court orders to appear.

If you have made a mistake and spent refunds inappropriately, don’t ignore court orders.  Let you lawyer know so a plan can be made to make amends.  Getting arrested does not have to happen to you.

Judge Janice Miller Karlin of the U.S. Bankruptcy Court for the District of Kansas, Topeka Division, issued a new policy regarding bench warrants on January 26, 2009:

To assure the sanctity of this Court’s orders for turnover, appearance, etc., the Court will occasionally issue a Bench Warrant [Read more…]

Congress Considers Bankruptcy Change to Help Homeowners Stop Foreclosure

Senate Bill 61, Helping Families Save Their Homes in Bankruptcy Act of 2009 was introduced in the U.S. Senate yesterday.  A similar bill was introduced in the House of Representatives today and President-Elect Barrack Obama has vowed to sign such a bill on January 21, the day after he is sworn in as President of the United States.

The bill would lift the ban in the bankruptcy code on modifying a home mortgage down (cram down) to the value of the home in chapter 13 bankruptcy.  The bill also would allow a bankruptcy judge to modify the mortgage interest rate and repayment time so the homeowner could afford to stay in his home.  [Read more…]