The filing of a chapter 7 or chapter 13 bankruptcy protects tax refunds in two ways. First, the filing bankruptcy will stop creditors from capturing tax returns both currently and in the future. Second, in most cases the money will also be safe from the...
Minnesota Bankruptcy Court does allow a self-prepared bankruptcy filing, meaning you can do it yourself. The purpose of this article is not to provide you with legal advice; instead, this article provides you with information on what is required to file your own bankruptcy in...
Often what brings clients to my office is the pressure put on them from a creditor who has obtained a judgment. While the judgment itself does not cause any immediate harm other than being reported on credit reports, the rights of collection methods that a...
San Bernardino California has filed for bankruptcy protection under chapter 9 of the bankruptcy code. The primary reason a municipality would file for bankruptcy protection is they can no longer afford to pay their bondholders and pension obligations. In this case it looks like the...
If you are thinking about filing for bankruptcy you should consider some basic tax advice. The best way to plan your taxes and bankruptcy is to make sure your limit the tax refunds you get. The reason for this is you do not want to...
According to the American Bankruptcy Institute http://news.abi.org/press-releases/february-bankruptcy-filings-decrease-21-percent-from-previous-year-commercial-filings, bankruptcy filings have dropped 21% nationwide in February 2013. The article said that February filings were up 5% from January 2013. This seems to reflect what I am seeing in banks that have cut credit limits and increased...
By filing chapter 7 or chapter 13 bankruptcy you can obtain immediate relief from your creditors. Creditors are prohibited from collecting or harassing a debtor after the filing of a bankruptcy pursuant to 11 U.S.C. Section 362 of the bankruptcy code. During my practice in...
The prevalence of leases continues to grow. Many individuals want to drive a newer car but could not otherwise afford the car outright. Many businesses want commercial space but cannot afford the cost of purchasing a commercial building and its upkeep. Most leases go off...
Coming to terms with the idea that a bankruptcy is necessary is never easy. Just like the government many individuals are not earning enough money and are spending more than they earn. The end result is an accumulation of debt. Take recent news stories about...