What have they been doing with my mortgage payments? 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 a new […]
Bankruptcy Without A Discharge: Why Chapter 20 Works
What does a Chapter 13 bankruptcy get you if it doesn’t get you a discharge? Lots, actually. It’s complicated. Powerful, but complicated. Let’s see how all the parts interact when your Chapter 13 is filed before you’re eligible for a discharge. Law limits discharge The bankruptcy code doesn’t limit when you can file bankruptcy; it […]
The Essential Step To Get Your Day In Court
When you’re sued on an old debt, it’s easy to imagine appearing in court to tell the judge your side of the story. You imagine the judge considering your argument and challenging the other side to prove otherwise. It’s a comforting image, but it will never happen if you haven’t taken the first step in […]
What A Bankruptcy Lawyer Is Thankful For
On Thanksgiving, I’m mindful of how precious the American approach to insolvency is. In the U.S. a bankruptcy discharge provides the proverbial fresh start to move forward with life. Money troubles do not have to cloud a life forever. Bankruptcy is widely available and broadly effective in getting people a fresh financial start. On the individual level, […]
5 Things To Do When You Have Been Sued
The ring on the doorbell was a process server. Bingo! You’ve been sued in a California court. Now what? Breathe deeply and work your way through this five step check list. Then I’ll suggest some options. Scout the territory 1. Look at the caption: It identifies the parties to the suit. It’s right below the […]
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 […]
The Secret Bankruptcy Discharge For Community Property
Psst! Let me tell you a secret about bankruptcy law. You can get 3/4 of the benefits of a bankruptcy discharge without ever going near a bankruptcy court if you are a married person in California, or any other community property state. If your spouse files bankruptcy and you don’t join in, you still reap much […]
What Happens To Liens In Bankruptcy?
Liens in bankruptcy have an uncertain fate. While most liens survive a bankruptcy discharge, some liens get wiped out. Think of mortgages, tax liens, and judgment liens. Each of them is a lien, but some get different treatment in bankruptcy. Some liens can even be reduced or eliminated . Lien basics A lien gives the […]
Bail Yourself Out Of Payroll Tax Trouble
Business owners with unpaid payroll taxes are in deep trouble. Even if the employer is a corporation, the corporation’s managers are personally liable for the trust fund portion of unpaid payroll taxes. There’s no corporate shield when it comes to payroll taxes. You are in the IRS’s cross hairs, personally, if the business hands out “net” checks […]
Can Your Business Survive Tough Times?
When the virus shutdown is over, ailing businesses must consider whether to continue.
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