Category Archives for "General Bankruptcy"

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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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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Mar 17

Utility Moratorium

Blog , Chapter 128 , General Bankruptcy

  April 15th is an important time of year.  Income taxes are due by April 15th.  Leonardo Da Vinci was born on April 15th.  But the reason we want to bring this to your attention is because April 15th was the last date of the energy shutoff moratorium in Wisconsin. As long as you have […]

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Aug 30

Can I Take Out Debt Before Filing Bankruptcy?

FAQ , General Bankruptcy

I attend a lot of seminars and educational programs dealing with bankruptcy and related issues.  Usually the information is valuable to my practice and to my clients, but I recently attended a seminar where an attorney stated to the audience that we should never advise our clients to incur debts while we are planning on […]

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Aug 12

Gun Trust for Asset Protection

Blog , General Bankruptcy

Asset protection is not just about protecting your home, family heirlooms, and personal wealth.  You may want to consider whether a gun trust would be helpful for protecting your firearms.  Gun trusts are generally used for holding NFA firearms:  Short barrel rifles, short barrel shotguns and suppressors. A gun trust can make it easier to […]

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Jul 29

Debt and Shame

Blog , General Bankruptcy

Men are from Mars. Women are from Venus. But both men and women generally feel bad about carrying debt and not being able to pay it.  Most of us are brought up to pay our debts.  Our religious or moral code may reinforce this.  Above all, people feel embarrassed if anyone knows that their debts […]

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