Why do Chapter 13 plan payments end up too high to pay if Chapter 13 is supposed to be a financial reorganization? How are plan payments allowed to consume nearly all of monthly wages? The short answer is that the infamous means test isn’t the only factor driving the monthly payment in Chapter 13. The […]
How To Defend Yourself Against the Weapons of a Debt Collector
Dealing with debt collectors requires that you understand their weapons. The real weapons of debt collection aren’t lawyers and lawsuits: they are fear, shame, and annoyance. They want to get inside your head and use your emotions against you. Manipulating your emotions is quicker and cheaper than going to court to get a judgment. Once […]
What Can Creditors Object To In My Bankruptcy Case
Creditors in a bankruptcy case get 60 days from the 341 meeting to file objections. Just what kind of objections can a creditor in a bankrupty file? Creditors can object to two things: the dischargeability of their claim against the debtor or the grant of a discharge as to all debts. They can’t object just […]
The Bankruptcy Process, Step by Step To A Fresh Start
Let’s walk through the basic bankruptcy process and what’s required to wipe out debts you can’t pay. I’ll keep this simple and assume that you’ve decided to file. ( At each step, links will point you to a further discussion of each issue. ) If you are undecided about whether bankruptcy is the right decision, […]
Can My Bankruptcy Discharge Be Denied?
Bankruptcy law presumes that a debtor will get a discharge in a properly filed case. The few reasons a discharge may be denied are spelled out in the Bankruptcy Code. The overwhelming number of Chapter 7 cases result in a discharge. There are no subjective tests for getting a discharge; you don’t have to prove […]
What’s Your Retirement Theme Song?
Why does tax season put me in mind of September Song ? Oh, the days dwindle down, to a precious few…. A precious few days to make your contribution to tax advantaged retirement accounts. Or, do you tap your foot to a different song: Do You Believe in Magic? Do you expect that finances in your old […]
Earmark Tax Payments To Get Proper Credit
Get proper credit for tax payment by earmarking. That way, you can tell the IRS how to apply any payment you make voluntarily. Earmarking your check requires them to skip their rules and apply the payment to the tax you direct. Bravo for a small measure of taxpayer control. The term “earmarking” traces to the […]
