Nov 6, 2018 | Blog, 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...
Oct 16, 2018 | Blog, 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...
Oct 10, 2018 | Blog, 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...
Oct 3, 2018 | Blog, Debt Collection
Question: 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...
Sep 28, 2018 | 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...
Sep 26, 2018 | Blog, 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...
