How do I make a Chapter 13 plan that succeeds? That’s important because a successful Chapter 13 lets you Yet a distressing number of Chapter 13’s fail before they reach the finish line. The debtor writes the plan One powerful characteristic of Chapter 13 is that the debtor writes the payment plan. Not the judge, not […]
We’re Now In Redwood City
Moran Law Group has packed up and moved to Redwood City! Effective October 1, 2018, Cathy and Renee are holding forth at 643 Bair Island Road, Suite 403, Redwood City. Our phone number and email addresses are the same. We’re sharing our San Mateo county office with two good friends and marvelous bankruptcy lawyers, Jeff […]
If The IRS Comes Calling After Your Bankruptcy Discharge
It’s scary, or infuriating, when the IRS continues to try to collect taxes discharged in bankruptcy. What was the point of filing bankruptcy if the government ignores your discharge? Yet IRS attempts to collect taxes from people with a bankruptcy discharge form the single largest group of cases in my law office today. Why the […]
Divorce And The Ticking Debt Bomb
Debts of the marriage often outlive the marriage itself. And, those left-over debts are nothing but trouble. But too often, divorcing couples don’t mop up the joint debts they held during the marriage, only to have the situation blows up years later when one ex-spouse hits financial trouble. Here’s a true story that illustrates the danger. […]
Highlighted Tax Tips For Final Week To File Returns
We talk a lot about taxes here on the Soapbox. That may seem a strange thing for a bankruptcy law firm to highlight. But it’s not strange when you realize that taxes are the cause of many of our clients’ financial problems. Filing date is barreling down on us. So, here’s a sampler of how […]
Dates, Mates, and Debts In A Community Property State
Scoping out dates and mates by their credit scores at first seems far fetched and overblown. Not to mention it pretty much kills romance. CNN reported on credit scores and dating. My colleague Frank Pipitone took off on the idea. But there is a kernel of wisdom there that couples in California need to heed. […]
3 Real Reasons Chapter 13 Plans Fail
Two out of three confirmed Chapter 13 cases fail. Those are cases that met all the tests and got the judge’s OK. And still they crater. That’s a heap of people, deeply in debt, who don’t make it out of debt by using Chapter 13. Arizona bankruptcy lawyer John Skiba has a theory about […]
Means Test As Three Dimensional Chess
Means test issues in bankruptcy extend far beyond how much income you have. The allowable expense deductions for your life after filing bankruptcy count, too. After an hour long initial consultation with a client, these complexities became clear when the client tagged the means test with incredible clarity. It’s like playing three dimensional chess Pretty […]
Legacy of the Mortgage Lending Frenzy Returns
Just when I thought that most of the pain from the mortgage lending bubble of a decade ago was behind us, we arrive at a painful milestone. Those 10 years-interest only loans from 2006 and 2007 are resetting. Instead of being interest only, they now move to principal and interest. And the balance originally borrowed […]
Worthless Mortgage Liens Keep Homeowner At Risk
The client originally had his choice of bankruptcy chapters. He could file Chapter 7, get quick relief, and put “everything” behind him. Or his could file Chapter 13, propose a plan that would strip the mortgage lien and pay the taxes that wouldn’t be discharged in Chapter 7. He chose 7, and briskly got a […]
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