Posts tagged with: "bankruptcy"
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30 Jan 2014, 12:24 pm by Walden & Pfannenstiel, LLC
The total number of Bankruptcy cases filed in federal courts for fiscal year 2013—the 12-month period ending September 30, 2013—totaled 1,107,699. Based on these numbers, total filings have gone down by 12% since fiscal year 2012. These statistics were released  by the Administrative Office of the U.S. Courts. As you can see by the below... [read post]
9 Dec 2013, 11:32 am by Bryan Fears
The general rule is a bankruptcy does not discharge any fine or penalty payable to a governmental unit. Specifically in Chapter 7 section 523(a)(7) it forbids the discharge of civil penalties or criminal fines. This means that in a Chapter 7 bankruptcy government fines are not wiped out. However in a Chapter 13 case they may be dischargeable. Bankruptcy Code 1328(a)(3) allows a Chapter 13 debtor to discharge non-criminal government fines if he completes all the court approved plan payments. This… [read post]
31 Oct 2012, 10:01 am by jacksonwhite
Filing for bankruptcy is sometimes the best and only option for families looking for a fresh start in life, but there are times when a person should wait to file for bankruptcy. Some reasons you should wait to file for bankruptcy is if any of the following are occurring: Divorce Monetary transfers Expected medical bills Recent credit card charges Unpaid income taxes If you have a planned surgery or medical expenses, it’s best to wait until after all medical treatment has been completed because… [read post]
15 Oct 2012, 8:31 am by jacksonwhite
Debt can come in a number of forms for a wide variety of reasons. Most people think debtors file for bankruptcy because they buy all kinds of luxuries they can afford. That is not always the case. Below is a list of the most common types of debt that can be discharged in bankruptcy: Credit Card Debt Medical Bills Mortgage Debt Vehicle Loans Unpaid Tax Debt Personal Loans Debt occurs when a person is unable to make payments on loans or bills. Sometimes it’s due to a decrease in salary or the… [read post]
6 Dec 2013, 8:30 am by Bryan Fears
A proof of claim in bankruptcy is a document filed with the bankruptcy court that registers a claim against the debtor’s bankruptcy estate. A proof of claim may always be filed in a Chapter 13 case, but is only allowed in a Chapter 7 when there are available assets to distribute to creditors. The proof of claim sets out the amount owed to the creditor as of the date of the bankruptcy filing and, if relevant, any claimed priority status. The proof of claim can be filed by a creditor, or the… [read post]
15 Nov 2012, 8:38 am by jacksonwhite
When you file for bankruptcy, you’re required to complete a debtor education course before the bankruptcy process is finished. The debtor education course is designed to help debtors plan for the future and avoid bankruptcy. The education course is two hours long and consists of discussions regarding budgeting, credit spending, and financial management. Once you’re ready to begin your debtor education course, you’ll need to have this information: Your mother’s maiden… [read post]
11 Mar 2013, 3:32 pm by jacksonwhite
First, it is important to determine whether the source of your income is garnishable. For example, if your income is from unemployment or social security, your money is protected and you can get the creditor to stop the garnishment and possibly even return the funds. If your income is garnishable, the easiest way to stop wage garnishment is by paying the bill. However, you may not have the means to do so. Many people in Arizona are struggling to pay their bills right now. And when it comes down to… [read post]
11 Mar 2013, 3:32 pm by jacksonwhite
First, it is important to determine whether the source of your income is garnishable. For example, if your income is from unemployment or social security, your money is protected and you can get the creditor to stop the garnishment and possibly even return the funds. If your income is garnishable, the easiest way to stop the garnishment is by paying the bill. However, you may not have the means to do so. Many people in Arizona are struggling to pay their bills right now. And when it comes down to… [read post]
21 Nov 2012, 8:59 am by jacksonwhite
Chief Executive of Peregrine Financial Group Inc., Russell Wasendorf is auctioning off his assets on December 5th to pay back customers and creditors of his failed brokerage. The court-appointed receiver spent nearly 4 months tracking down all of Wasendorf’s possessions, which include antique cars, snowmobiles, construction equipment, office equipment, restaurant equipment, personal furnishings, and 2,100 bottles of wine valued at $100,000. Bankruptcy offers individuals a chance to eliminate… [read post]
23 Sep 2011, 6:16 pm by Russ DeMott
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Bankruptcy lawyers spend almost all their time dealing with the law as it is.  After all, we’re not members of Congress. But as I deal with our bankruptcy law here in the U.S., I can’t help but wish it were different.  Our bankruptcy law changed in 2005 [...] Related posts:Chapter 13 Bankruptcy: Should You Buy a Car Prior to Filing? Will the Bankruptcy Trustee Take My Jewelry? Bankruptcy Documents: It’s a Moving Target! [read post]
1 Nov 2012, 10:01 am by jacksonwhite
When most people think of the word bankruptcy, they think of people racking up credit card debt by purchasing unnecessary luxuries that they can’t afford. There may be times where that’s the case, but the typical person filing for bankruptcy is filing because of the medical debt they’ve accumulated. The American Journal of Medicine stated in a 2009 study that medical bills were a main cause in 62 percent of bankruptcy filings. In fact nearly 75 percent of those who file for… [read post]
7 Dec 2012, 8:40 am by jacksonwhite
When someone is facing hard times financially, they’ll do just about anything to get on top of it, even if it means consulting a debt settlement company. A debt settlement company typically promises to work with your creditors to reduce the amount you owe. A typical debt settlement company charges high fees for their services up front. Even if they can’t reduce your debt, they still get to keep that money. These types of businesses also tend to encourage their clients to stop paying… [read post]
22 Nov 2013, 8:30 am by Bryan Fears
On Schedule G of any bankruptcy petition you will find a list any co-debtors or co-signers that you may have on any of your debts. In a chapter 7 case your co-signer is not affected by the bankruptcy filing, for better or for worse. The co-signer’s credit is not impacted by the filing and they do not take any hits on their credit report. However, the co-signer is also not stayed from collections and is not discharged at the end of the case. This may or may not be a problem depending on the… [read post]
25 Oct 2012, 3:09 pm by jacksonwhite
When a person decides to file for bankruptcy, they trust their attorney to guide them safely through the bankruptcy process and towards a new beginning. Unfortunately for one debtor, bankruptcy attorney Bradley Aubel saw bankruptcy as a chance to help himself instead of his client. Aubel and one of his employees decided to use their clients’ credit cards to make cash advances and to purchase personal goods and then have those debts discharged during bankruptcy. In addition to the cash… [read post]
5 Dec 2012, 1:40 pm by jacksonwhite
Hollywood actor Gary Dourdan has recently filed for bankruptcy. Dourdan has starred in eight seasons of CSI: Crime Scene Investigation, but his disposable income is just $321. Dourdan has roughly $1.8 million in assets, but currently owes $1.73 million to various banks. Dourdan said he makes $14,883 per month, but $14,562 of it goes to bills. Dourdan’s financial issues began in 2010 when he was sued over credit card debt. Dourdan had to file an injunction back in August to stop Wells Fargo… [read post]
15 May 2013, 12:29 pm by Walden & Pfannenstiel, LLC
Bankruptcy cases are filed in U.S. Bankruptcy Court, which is a division of the Federal District Courts.  Divorce, collection, probate and similar cases are filed in one of the 31 Kansas District Courts located sporadically throughout Kansas.  The three Kansas Federal Courthouses, which contain the bankruptcy courts, are located in Kansas City, Topeka, and Wichita.... [read post]
In my Philadelphia bankruptcy and debt negotiation practice, I regularly meet clients who are reluctant even to talk about bankruptcy.  Sometimes, they have heard horror stories or read misleading information.  Other times, they believe that filing for bankruptcy means that they have failed, regardless . . . ? Read More: Avoiding the Bankruptcy Conversation Can Be Costly [read post]
3 Jun 2010, 5:55 pm by admin
Chapter 13 Bankruptcy In San Diego – San Diego Bankruptcy Attorney A Chapter 13 bankruptcy in San Diego has a number of benefits that will allow you to get the fresh start you need. A Chapter 13 bankruptcy will stop all creditor harassment, allow you to stop foreclosure,  keep your property and repay your debts over [...] [read post]
19 Nov 2012, 11:50 am by jacksonwhite
Thanksgiving is the beginning of a series of holidays that are just around the corner. The holiday season will attempt to pull you into debt, but there are some simple tips that will help you save money this holiday season. Family potluck If you’re hosting Thanksgiving this year, ask family members to each bring a dish. This will not only save you money, but it’ll also give you a chance to focus on the turkey and any main dishes you plan on preparing. Keep it simple There’s no need… [read post]
6 May 2013, 6:27 pm by Robert Weed
To my readers around the country, please keep in mind that I cannot give you legal advice. My answers here on this blog may help you think of things to talk about with YOUR LAWYER. DO NOT TRY TO BE YOUR OWN LAWYER, based on anything you read here. That would be a really bad idea.   Welcome. [...]The post Welcome to the “Reader Top Rated” Bankruptcy Blog appeared first on Robert Weed. [read post]