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All Star Soapbox Posts For 2017 – The Readers’ Favorites

By Cathy Moran

best of Soapbox

We’re half way through the year here on the Bankruptcy Soapbox.  Let’s take an All Star break and single out the best performing posts so far this year.

Strikingly, the team is all veterans.  Not a single post written in 2017 cracked the top ten.

Nor did the two topics that animate me the most, violations of the discharge injunction, nor home loan servicing make a run for all-star status.

So, let’s introduce the 10 2017 all stars, starting from the least trafficked to the runaway winner.

debt discharged in bankruptcy10. Does discharged debt stay gone forever?

You bet:  debt that’s discharged is legally unenforceable after bankruptcy.  Zombie debt exists, but it’s illegal.

 

9.   High Income Earners Pass The Means Test

Above median debtors are not locked out of bankruptcy.  For most with a high income, it’s just a matter of  filling out the means test and showing where that income is already committed.

 

8.  insolvent for tax purposes Qualifying for the cancelled debt exclusion

The IRS treats cancelled or settled debt as taxable income unless you can show you’re insolvent.  And, surprise, the IRS has an unusual way of calculating your balance sheet.

 

7.checks float before bankruptcy   Can you safely spend money just before you file bankruptcy?

We look at what you can spend excess cash on before you file bankruptcy and how to do it so it’s actually beyond the reach of the bankruptcy trustee.

 

6.forgotten lien   Judgment liens after bankruptcy

Discovered that there’s a lien on your house after your bankruptcy?  Don’t despair:  here’s how liens impairing an exemption can be slain even if your case is closed.

 

5.   private student loanKiller rule that limits collection of private student loans

Private student loans may not be dischargeable in bankruptcy, but they otherwise have to play by state law rules, including the statute of limitations.

 

4.  Are you liable for your spouse’s debts in a community property state?

The answer, in California at least, is no.  But your share of the community property is liable for nearly every debt either of you have.

 

3.   IRS form 1099Avoiding the tax that comes with an IRS form 1099

Foreclosure, debt settlement, or just plain screw up may land you with an IRS form suggesting you owe taxes on money you never saw.  Here’s what to do.

 

2.   taxesTax deductions hidden in your Chapter 13

Don’t miss deductible expenses paid by the Chapter 13 trustee on your behalf.  Find the deductions and claim them on your taxes.

 

  1.   Super powers of the California homestead

Ta dah! The homestead exemption for Californians is the most popular post on Soapbox, finding nearly twice as many readers as the number 2 post.  It’s a winner in more than one way.

More from the Soapbox

  • Find The Hidden Mortgage Interest Tax Deduction In BankruptcyFind The Hidden Mortgage Interest Tax Deduction In Bankruptcy
  • No House, No Discharge When Chapter 13 Goes Off ScriptNo House, No Discharge When Chapter 13 Goes Off Script
  • Why File Bankruptcy? It’s Your Life ExpectancyWhy File Bankruptcy? It’s Your Life Expectancy
  • Bankruptcy Busts Taxes If The Timing Is RightBankruptcy Busts Taxes If The Timing Is Right
  • Your Right To Credit Reporting After BankruptcyYour Right To Credit Reporting After Bankruptcy

Filed Under: Featured Tagged With: 2017

About Cathy Moran

I'm a veteran bankruptcy lawyer and consumer advocate in California's Silicon Valley. I write, teach, and speak in the hopes of expanding understanding of how bankruptcy can make life better in a family's future.

Bankruptcy Basics

About The Soapbox

You’ve arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said “try”).

Here, I allow myself to tell stories and express strong opinions. We dig deeper into how to consider bankruptcy and navigate a bankruptcy case.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

How Bankruptcy Works

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Those considering filing a Chapter 13 bankruptcy worry about "what happens to my bank account?" Will the trustee take all the money? How do I pay my living expenses after I file? The short answer is: nothing changes. The account remains yours and available for all the expenses of day to day living. Because, … Read more

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