“Don’t count your chickens before they hatch”. It’s a time-tested bit of folk wisdom. But applying that kind of thinking to legal claims when you’re filling out bankruptcy schedules is foolish. Worse, it can get you booted out of court. Count your “chickens” Bankruptcy starts with a list of what you own and what you […]
Find The Right Cure for Your Debt Problems
Get-out-of-debt advice and sales pitches abound. But too few get-out-of-debt gurus tell you that you need a diagnosis of your financial ills before prescribing the cure. Is the stomach ache indigestion or appendicitis? Is it temporary upset or life threatening? The answer makes a big difference in how you treat it. No single prescription for […]
Got Tax Trouble? Don’t File Bankruptcy In December
Bankruptcy can provide tax relief, if your timing is right. Tax troubles are at the heart of so many bankruptcy filings. It makes sense: bankruptcy is a powerful and predictable tool to get out of tax debt. But filing bankruptcy before the end of the year may fix only a part of your tax problems. […]
Give More Than Thanks
Ever feel the disconnect between buying your groceries for the Thanksgiving meal, then dropping some loose change into the kettle for the needy? Lots for my family, but leftovers for those who are hungry That seems to be the message you’re sending. Those of us who are prospering are doing well, but lots of neighbors and elders […]
Get Rid Of Liens On Your Home
Bankruptcy gives you a super power: you’re able to remove liens on your home, for good. You can’t wipe out every kind of lien. But bankruptcy law allows you to invalidate judicial liens that attach to your home and invade any exemption you are entitled to. The power is available to individuals in any chapter […]
How Filing Bankruptcy Can Benefits Your Heirs
Elders in California enjoy enhanced state exemptions that protect them from debt collectors. Those protections often make it unnecessary for a debt-laden senior to file bankruptcy. But no one talks about one consequence of relying on exemption law to fend off creditors. California exemption laws that fully protect the assets of seniors provide no protection to the heirs. […]
Can Debt Discharged In Bankruptcy Come Back To Haunt You?
Can debt bankruptcy in bankruptcy come back to haunt me? Worried clients ask me this all the time, fearful that the relief they get from their creditors in bankruptcy is only temporary. The short answer is no. The automatic stay that stops collectors when you file bankruptcy is replaced, at the end of the case, […]
Bankruptcy Alphabet: R is for Retirement
In my bankruptcy alphabet, R stands for Retirement. Retirement plans and IRA’s are safe in whatever chapter of bankruptcy you file. Your rights in an employer’s pension plan or a union pension plan are not even part of the property of your bankruptcy estate. The Supreme Court held almost 20 years ago that ERISA qualified […]
Should You Pay Your Creditors Rather Than File Bankruptcy?
Is there an alternative to bankruptcy, my clients often ask. Can I realistically avoid filing bankruptcy? A fellow bankruptcy lawyer outlined what it takes to get out of debt without bankruptcy. If you could do all three, for long enough, and, your debt isn’t too large, it probably works. I want to pose the question: […]
Get real information about what’s happening with your mortgage loan payments
What have they been doing with my payments on mortgage loan? The client has been making a mortgage payment according to the HAMP formula for almost 18 months of her Chapter 13. Yet without a 1098 form, her very capable tax preparer told her she couldn’t deduct mortgage interest on her tax return. Never fear. We have […]
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