Ready to Practice in 2023: Develop Your Processes Now (with David Krekeler)
David Krekeler details why processes are so important in this brief video
Read MoreDavid Krekeler details why processes are so important in this brief video
Read MoreBlog , Debt Collection , General Bankruptcy
I was invited by the American Bankruptcy Institute to speak on Chapter 13 issues at the ABI Consumer Bankruptcy Conference in Chicago. A big issue: the effect we are seeing from having shortened the time within which creditors must file proofs of claim in bankruptcy cases. The rule used to allow 90 days after the […]
Read MoreBlog , Chapter 13 Bankruptcy , Debt Collection , General Bankruptcy
Chapter 13 provides the debtor with a discharge upon completion of all payments under the plan. For many years this has worked well, and debtors received a discharge even if they have not made all the payments which were to be made directly to creditors. Payments made to creditors through the plan by the trustee […]
Read MoreBlog , Chapter 11 Bankruptcy , Chapter 12 Bankruptcy , Chapter 13 Bankruptcy , Chapter 7 Bankruptcy , Credit & Credit Scores , General Bankruptcy
Yes, probably. Credit reporting agencies, like TransUnion, advise us that it is good to have a credit card, even a secured card, even if you do not use it. Doing so will increase your credit score. Having a credit card is also important if you are traveling or are anywhere without case. Do not get […]
Read MoreQuestion: I will be filing bankruptcy and am preparing my schedules. As my financial problems have worsened, I have used money from my minor children’s savings accounts. Do I have to say anything about this? Answer: Yes. The money you have “borrowed” from your children should be disclosed as a debt you owe. Besides paying […]
Read MoreA 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 […]
Read MoreBlog , Debt Collection , Tax
You will have notice and some time to pay or otherwise deal with the tax debts. The IRS always sends a bill first. That bill will be based on your tax return and will likely include appropriate interest and penalties. You will always receive at least a second bill before the IRS begins collection efforts. […]
Read MoreBlog , 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 […]
Read MoreBlog , Foreclosure , General Bankruptcy
Attorney David Krekeler reflects on meeting legal deadlines in your strategy. Last month, a client brought me a foreclosure complaint to review. Unfortunately, the time within which to respond to the complaint had long since passed. In fact, the judgment had already been entered so we will employ other means to protect his property. The […]
Read MoreBlog , 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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