Sep 28

Vehicle Deductions for Means Test

Blog , General Bankruptcy

A potential client contacted me for a second opinion regarding her eligibility to obtain a Chapter 7 discharge. Her income was high enough to create an issue under what is known as the means test. The means test is a mathematical calculation based on a debtor’s income for the six full calendar months prior to […]

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Sep 21

If I find employment prior to filing bankruptcy, or after I file bankruptcy, will this pose a problem?

Blog , Chapter 11 Bankruptcy , Chapter 13 Bankruptcy , Chapter 7 Bankruptcy , Employment in Bankruptcy , General Bankruptcy

No. We want our clients to be able to earn as much as possible and part of our job is to make sure any income you have is protected. The amount of income can affect your case, depending on the chapter you are filing under and the amount you are earning. In Chapter 7 consumer […]

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Aug 10

How Debtors and Creditors Use Proofs of Claim in a Bankruptcy Case

Blog , Chapter 7 Bankruptcy , Client Service , General Bankruptcy

One of the purposes of bankruptcy is to provide creditors with distributions (made up of the debtor’s assets or income). Creditors must file proofs of claim to receive their share of the distributions. Surprisingly, many creditors do not file proofs of claim, thereby foregoing their shares of the distributions. How Proofs of Claim Work In […]

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Aug 01

Will I Be Liable for the Debts of a Business That I Inherit?

Blog , Chapter 11 Bankruptcy , General Bankruptcy

Generally, no. Depending upon how the business is organized, you will likely inherit one of the following: Corporation                                         Stock Limited Liability Company              Membership Interest Sole Proprietorship                            Assets With a corporation or LLC, what you really are inheriting is the net worth of the business. With a sole proprietorship, you inherit both the business and its assets. For […]

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Aug 01

Client Testimonial

Testimonials

Hello David, I almost never thought the day would come that I had my account with the Krekeler law office paid in full. However, today, the final payment came in and the cash is there to cover it. Thanks to you and your staff so much for all your help in getting me to this […]

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