Remember the old high school cheer: two, four, six, eight, who do we appreciate? Turns out, that’s not just a cheer, it’s shorthand for the rule on when you can file bankruptcy again. And it points out that when you can file again depends on what kind of bankruptcy you filed last time. Here’s how […]
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What Does A Bankruptcy Lawyer Do For You
Lawyers cost money and you’re considering bankruptcy because you don’t have enough money. What would a bankruptcy lawyer do for you? The existence of official bankruptcy forms make it seem that bankruptcy is just filling out forms. Unfortunately, that isn’t so. Forms are only part of the picture. An important part, but not the whole […]
What To Disclose In Bankruptcy Papers
If the headline drew you in, like the Geico gecko, you can complain you’ve been duped. There’s no decision involved: in bankruptcy papers, you disclose everything. Period. Disclosure is the price of the bankruptcy discharge. Shortchange the system by leaving out inconvenient facts and you risk both the omitted asset and the discharge. Understand the […]
Ten Best Bankruptcy Gems In 2021
What did readers want to know about bankruptcy in 2021? Turns out, a bit of everything. Looking at the top 10 posts among the 750 posts on Bankruptcy Soapbox, they were equally curious about how bankruptcy works as they were about life after bankruptcy. Homesteads, taxes, judgment liens are all found in the top ten, […]
Epedemic of DIY Chapter 13s to Stop Foreclosures End in Trajedy
Warning: virulent outbreak of do-it-yourself bankruptcies all around. Symptoms: panic over prospect of foreclosure Supposed remedy: file your own skeleton Chapter 13 bankruptcy to stop foreclosure Prognosis: enjoy the stay for about 2 weeks, followed by foreclosure relapse Homeowners facing foreclosure Three different would-be clients called in a 10 day period this month, to stop […]
When You Can’t Make Your Chapter 13 Payments
When your wallet’s as flat as this tire and you can’t make your Chapter 13 plan payments, what do you do? Chapter 13 promised a chance to reorganize, keep what’s important, and get out of a financial hole. But it just isn’t working. What now? In good lawyer style, I’ve got to tell you: it […]
Right To Support When Your Ex Files Bankruptcy
Outrage is the usual reaction when a former spouse with child support or alimony files bankruptcy. It reinforces all those less-than-flattering thoughts you harbor about your ex. But,maybe, that’s not the right reaction for two reasons, one old, one new. One is old: support debts can’t be wiped out in bankruptcy. The second reason is new: failure […]
Is Bankruptcy In Your Future?
Tough economic times make us think about escape by filing bankruptcy. Bankruptcy offers a straight forward, predictable and immediate solution. But to get full measure of bankruptcy relief, you need to know which problems bankruptcy solves and when the time is best to file. Which problems bankruptcy solves Bankruptcy deals with debt, with the outflow […]
10 Things Every Attorney Should Know About Bankruptcy
Financial stress is everywhere. It pops up in family law, litigation, business, and our dealings with taxing authorities. Every lawyer can better serve clients if they know a bit about bankruptcy, regardless of the focus of their practice. Here’s my list of bankruptcy basics for lawyers that every practitioner should know to guide clients to […]
Why I Love Chapter 13
How do I love thee, Chapter 13? Let me count the ways. Hang on, because it’s a long list. Thirteen reasons Chapter 13 rocks. I love Chapter 13 because: 1. Debtors keep control of their assets. They run their businesses. There is no trustee tasked to sell their assets. 2. Repayment to creditors […]