How do you ignore a lawsuit and expect a good outcome? Yet twice in the past few months, individuals have come to me with judgments already entered against them. That’s not noteworthy; after all, I’m a bankruptcy lawyer. We deal with unpaid judgments. But both of these men explained the situation this way: the claims […]
What The Fool Got Wrong About Filing Bankruptcy
The famous poem begins, “how do I love thee? let me count the ways”. But what if it’s not love that we are counting, but loathing? Let me count the ways I loathe the Motley Fool’s article asking should I file bankruptcy? The Fool’s underlying assumption is that people in debt flock to bankruptcy as […]
The Tortoise Is The Mascot Of Retirement Savings
Every campaign needs a logo. Make the logo of your retirement planning a turtle, rampant. Rampant, you say? Turtle? In the Middle Ages, knights put their ID’s on their shields in elaborate heraldry that told bystanders who he was, what his birth order was, and which side of the blanket he was born on. Heraldry featured animals, […]
When You Can’t Pay The EIDL Loan
The COVID-era EIDL loans are coming due. But just because the pandemic is over doesn’t mean that business has returned to normal. Prepandemic, normal may have been difficult too. If yours is one of the many businesses can’t bear the additional stress of repaying EIDL loans, here’s what you need to know. What are EIDL […]
Bank Account Safe From Credit Card Debt
Your bank can’t take your money in an account to pay their credit card. That’s one less thing to stress about. Credit cards and bank accounts are an exception to the old saw that possession is 9/10th of the the law. After all, the bank would have possession of the money on deposit and a […]
Your Tax Refund Is Exposed In Bankruptcy, Unless…
The prospect of a tax refund makes most of us light up even when we haven’t even calculated what the refund might be. But if you’re thinking of filing bankruptcy before you actually see Uncle Sam’s check, take a minute to plan. Your right to that refund is property of your bankruptcy estate even if […]
The Bankruptcy Problem Your Lawyer Can’t Fix
Everyone considering bankruptcy faces the question of what to tell their lawyer. Sometimes it’s a problem you don’t want to face yourself, or a debt your spouse doesn’t know about. The problem even the best bankruptcy lawyer can’t fix is the one you hide. Maybe it’s a claim you hope to bring after the bankruptcy. You’re […]
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. […]
What looks bad to the trustee in prebankruptcy conduct
Wondering what bankrutpcy trustees look for when they ask for bank statements and question you at the 341 meeting? Worried that a bankruptcy trustee will examine your situation and somehow disqualify you from bankruptcy because of something you did (or didn’t do) right before you filed? Not to worry. Your bankruptcy discharge does not depend […]
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