If the most useful trick for beating the means test involves projecting health care expenses, the second most useful trick involves taxes. Tax troubles drive the filing of a large percentage of bankruptcy cases these days. It makes sense: bankruptcy is a powerful tax tool and a bankruptcy judge can be a good ally when […]
Search Results for: do you need to file bankruptcy
Know What You Really Owe: Your Mortgage Loan Rights
You’ve got a lot to keep an eye on. You probably regularly check Yet chances are, your home is your biggest investment and perhaps even the cornerstone of your retirement plan. But you have no idea what you really owe on your home loan. You may be surprised at what lurks in the file of […]
Surefire Steps To Avoid Bankruptcy
Most people would rather parade naked down Main Street than file bankruptcy. Bankruptcy makes them feel exposed, defeated, ashamed. They’ll do anything to avoid bankruptcy. If you don’t want to go there, you can order your life so you don’t ever need bankruptcy relief from debts you can’t pay. I’ve figured out the formula that assures […]
Dividing Debts At Divorce: What You Need To Know
The division of the debts of a failed marriage, however carefully crafted at divorce, can be utterly destroyed if one of the former spouses files a Chapter 13 bankruptcy. A Chapter 13 discharge is double barreled. It will eliminate the debts that the filing spouse owes to creditors. But, it also wipes out any obligation to […]
4 Rules For Testifying At Your Bankruptcy Meeting of Creditors
Testifying at your bankruptcy hearing? Worried sick? What are they going to ask me?, you wonder. My bankruptcy clients imagine a quiz on the contents of their bankruptcy papers. Or worse, an inquisition on why they needed to file bankruptcy. That’s not likely. The first meeting of creditors is much more likely to be a […]
How You Can Collect From The Debt Collectors
I team up with consumer lawyer Mike Cardoza to identify your rights against debt collectors and then to preserve those claims through bankruptcy. The longer you resisted filing bankruptcy, the more likely that you’ve endured harassing encounters with debt collectors. And the more encounters you have with debt collectors, the more likely that you’ve been […]
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 […]
New Bankruptcy Trends From An Old Hand
I’m seeing a real change in the people seeing me about filing bankruptcy. Used to be, the problem was credit card debt, unemployment, or divorce. A surprising trend over the past six months is developing. I acknowledge the sample size is small. Statistically, you can challenge the significance, but here are the trends. My office is […]
What Happens To My Stuff In Different Bankruptcy Chapters
Will it be Chapter 7 v. 13? After you’ve made the decision to get a fresh start, you need to choose a bankruptcy chapter, usually Chapter 7 or Chapter 13. The choice of chapter is complex, involving many interconnected factors. Here we’re going to compare just the treatment of different kinds of assets in Chapter […]
Scammers Spoof IRS To Get Your Info
Tax season saw a 400% rise in fake email to taxpayers pretending to be from the IRS. The scammers want you to click a link, give them information, or otherwise open yourself to identity theft. Identity theft and the diversion of tax refunds is the number one tax scam. Fake email is third. Protect yourself as […]
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