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The Kind of Person Who Files Bankruptcy

By Cathy Moran 3 Comments

who files bankruptcy

You’d think the person who files bankruptcy is some alien fraudster, to listen to my clients. This is last place I ever expected to be, says the client sitting in my bankruptcy office.  I hear that probably twice a week. Or, the client assures me:  I’m not the kind of person who doesn’t pay their […]

Filed Under: Consumer Rights

“Hold Harmless” Survives “To Have and To Hold”

By Cathy Moran

Divorce usually requires the division of the debts of the marriage along with the assets. The legalese usually requires each party to indemnify and hold harmless the other from the debts assigned to that party. Most folks skim over that provision to worry about the division of assets or support issues or the termination of […]

Filed Under: Consumer Rights, Family Law

Step By Step Guide To Business Shutdown

By Cathy Moran

business shutdown

There’s lots written on how to start a business. Not so much about business shutdown. Even pre-pandemic, half of all new businesses fail within 5 years. Post pandemic, the pain is so much greater. So let’s walk through how to manage a business shutdown, tie up loose ends, and minimize problems that may follow you […]

Filed Under: Consumer Rights, Small business Tagged With: 2021, business closure

At Risk of Repossession? How To Keep The Car & Pay Less

By Cathy Moran

car repossession

If you are one of the  7 million Americans late on your car payments and living in fear that your car will be repossessed, consider how Chapter 13 bankruptcy can save your wheels. Losing your car can accelerate a torrent of nasty financial consequences. No car, no way to work. No work, no income. So, […]

Filed Under: Chapter 13, Consumer Rights Tagged With: 2019, car loan, Chapter 13 car, Repossession

Pay No Tax On Debt Discharged In Bankruptcy

By Cathy Moran

discharged debt

Debt discharged in bankruptcy is tax free, even if you get a 1099 claiming otherwise. It’s unnerving when you get a 1099 after you thought the debt, and all its complications, were gone. But for bankruptcy clients, the answer is simple: Debt discharged in bankruptcy is not taxable. Tax on cancelled debt The tax code […]

Filed Under: Consumer Rights, Taxes Tagged With: COD, discharged debt

The Difference Between Good Bankruptcy Lawyer and Great Bankruptcy Lawyer

By Cathy Moran

Finding the right bankruptcy lawyer may be the difference between a successful bankruptcy and a nightmare. Choosing a lawyer you can talk to is critical because the basic bankruptcy bargain is full disclosure in exchange for discharge of debts. You’ll be disclosing lots of information normally held confidential. But there’s more. It’s not just a […]

Filed Under: Consumer Rights, You & your lawyer

Pay Off Credit Cards Without Interest: Bankruptcy For The Solvent

By Cathy Moran

chapter 13 rescue

Once again, Chapter 13 rescued a client. He’ll get out of debt and pay off credit cards with no interest going forward. So many people tell me they could pay off the credit card balance if it wasn’t for the high interest. This client owned a home, had a job, and was solvent on paper, but […]

Filed Under: Chapter 13, Consumer Rights, True Stories Tagged With: 2016, homestead

How Many Collection Calls Is Too Many

By Cathy Moran

collection calls

The CFPB has answered the burning question of how many collection calls is too many. Starting November 30, 2021, seven calls within seven consecutive days is the limit. More collection calls than that constitutes prohibited harassing conduct. And harassing conduct violates the Fair Debt Collection Act. Remember that the FDCPA governs the conduct of debt […]

Filed Under: Consumer Rights, Debt Collection Rights Tagged With: 2021, debt collection, FDCPA

Your Tax Refund Is Exposed In Bankruptcy, Unless…

By Cathy Moran

tax refund bankruptcy

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 […]

Filed Under: Considering Bankruptcy, Consumer Rights, Taxes Tagged With: 2018

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Bankruptcy Basics

About The Soapbox

You’ve arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said “try”).

Here, I allow myself to tell stories and express strong opinions. We dig deeper into how to consider bankruptcy and navigate a bankruptcy case.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

How Bankruptcy Works

The Biggest Lie About Bankruptcy

Read anything about Chapter 7 and you get, "Your possessions are sold in Chapter 7 bankruptcy." That is, flat out, the biggest lie about bankruptcy. It's a liquidation proceeding and your stuff will be sold to pay creditors, the lie goes on. No wonder people are scared off from getting relief from debts they … Read more

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