It’s pretty scary when a $300 payday loan turns into an investigation by the Federal Crimes Bureau. Not only was the recipient of the collection letter below being “investigated for crimes”, his Social Security number would be suspended, and a court case initiated against him immediately. At great cost and embarrassment. Unless, of course, he sent the […]
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 […]
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 […]
The Thousands That Sat In Mortgage Suspense Account
Sharp eyes on the part of the debtor spotted the unapplied suspense balance, and diligence on the part of his attorney, saved one homeowner $27,000. Mortgage payments during Chapter 13 During his Chapter 13 case, the borrower continued to make monthly payments on his mortgage. But the loan servicer for Bank of America dumped payments […]
California Consumers Have Powerful Debt Collection Rights
California outdoes the rest of the country in its debt collection rights for consumers. Debt collectors have noticed the growing understanding of debtors about their rights to fair debt collection. And they aren’t happy. The Federal law Fair Debt Collection Practices Act regulates the conduct of third party collectors. Those protections apply everywhere and more […]
Get A Voodoo Discharge Without Filing Bankruptcy
One of the great mysteries of debtor/creditor law is the community property discharge in bankruptcy. When only one spouse files bankruptcy in a community property state like California, the non filing spouse reaps bunches of benefits that creditors can’t imagine. Benefits that aren’t explicitly described in books about bankruptcy or understood by creditors. Those benefits […]
What Should Bankruptcy Cost?
Pick a cheap bankruptcy lawyer and it could really cost you. We’re trained as consumers to find the lowest price for stuff we buy. But picking a lawyer is not the place for economy. But how can you know what a bankruptcy should cost when you’ve never hired a lawyer before and you don’t want […]
Your Vote, Your Voice
Government is serious work. For it to work well, it requires lawmakers who take those responsibilities seriously. Making laws requires making choices and expressing values. The rest of us live with those choices. As a bankruptcy lawyer, I live day to day with the vindictive and creditor friendly choices the Congress made in 2005 when […]
Pay Your Debts Or Go To Jail?
What would you do if you got a tip there was an arrest warrant out because you hadn’t paid one of your bills? The right answer is “laugh”. In the US we don’t arrest people for owing money they can’t pay. Yet scammers are out in force, counting on you having slept through civics. Whether […]
Stay At Home Doesn’t Mean Get Left Behind At Retirement
Just because you don’t work outside the home doesn’t mean you can live on nothing in your old age. If you are married and your spouse has qualifying income, you can contribute to a spousal IRA. And you should. The IRA rules for a nonworking spouse are essentially like the rules for an employed person: […]
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