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Does Bankruptcy Bar Retirement Savings?

By Cathy Moran

retirement contributions

Ongoing retirement saving by Chapter 13 debtors has been a touchy subject since the means test became a part of the bankruptcy scene. The means test was intended to squeeze every available dollar from consumer debtors. It works by limiting the expenses that can be deducted from income in figuring what a debtor can/must pay […]

Filed Under: Chapter 13, Developing law, Featured Tagged With: 2020, means test, retirement

Is Home Equity A Substitute For Retirement Savings

By Cathy Moran

Home as retirement savings

My house is my retirement plan. If I had a dollar for every time a client said that, I could retire today. But that approach to funding your old age only works if…. Sell your house to retire The value in your house makes your balance sheet strong, but doesn’t put food on the table […]

Filed Under: Real property & mortgages Tagged With: 2017, home equity, retirement

Annual IRA Contribution: Use It Or Lose It

By Cathy Moran

IRA contribution

  Tax day approaches. Only a few days remain to make an important decision. You expect to live for decades after you’re eligible for Social Security, don’t you? Then, you have only until April 15th to use the 2018 allowance for contributions to a tax-advantaged IRA. Miss making that 2018 contribution and it’s gone for […]

Filed Under: Featured Tagged With: 2019, retirement, taxes

Double Dipping On Retirement Savings

By Cathy Moran

double dip retirement

Any time you can double your savings and protect your money from creditors is a good time of the year. The period between New Years and Tax Day is my favorite time of the year, just for that reason. You can make contributions to your IRA last year AND contribute to this year’s IRA allowance. […]

Filed Under: Featured Tagged With: 2018, exemptions, retirement, tax

The Most Compelling Reason To File Bankruptcy

By Cathy Moran

retirement planning

Shedding debt so you can save for retirement is the most compelling reason to file bankruptcy in my book. Get rid of the debt that’s dischargeable so you can fund your retirement, I exhort. Between the crippling cost of housing in the Bay Area and parent loans for college, there is so little margin for […]

Filed Under: Considering Bankruptcy, Featured Tagged With: 2017, reason to file, retirement, saving

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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 on how I think law should work for the consumer and small businesses when it comes to debt.

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

How Bankruptcy Works

High Income Earners Pass Bankruptcy’s Means Test

ALERT:   Being above the median income on the means test is not an automatic bar to filing bankruptcy I'm so used to railing against deliberate campaigns of misinformation about bankruptcy that I forget that there's a lot of innocent ignorance out there. Start with "qualifying" for bankruptcy. A very … Read more

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