When you have debt, what to do: Debt Consolidation vs Bankruptcy
If money is tight for you, and you’re struggling with your debt, you may be looking to take action. Bankruptcy, it seems, is the “last resort” for people (which I don’t think it should be – bankruptcy can be used strategically). You see commercials for debt consolidation programs that offer low monthly payments to get […]
KEEP READING . . .Should a Landlord Enter Into a Settlement in an Eviction Case?
In my practice, when I handle eviction cases, I generally represent landlords looking to evict a tenant and recover possession of the apartment. Usually, when first discussing a landlord-tenant case with a landlord, I always feel that the landlord has this idea is that I , as the attorney, will storm into court and argue that […]
KEEP READING . . .Can I discharge a credit card debt that was incurred to pay taxes?
As the tax return season is in full swing, many people have already filed their returns and, unfortunately, may owe the IRS or state taxing agency. While there are usually options available to pay taxes, many people don’t want to deal with an on-going debt. If you already had an eye towards filing for bankruptcy, […]
KEEP READING . . .What happens if you fail to turnover property in bankruptcy? You could lose your discharge!
When a bankruptcy case is filed, the goal is to keep the debtors with as much of their property as possible. Sometimes, though, to get the discharge, a debtor has to turnover property. Generally, it’s because they don’t have sufficient exemptions to protect the property. A very tricky asset can be a potential tax return. Even […]
KEEP READING . . .Bankruptcy Gets a Little Tougher for Debtors Trying to Get a Vehicle Back
Many people file for bankruptcy because they may have defaulted on their car loan. Often in such cases, the creditor threatens immediate repossession, and the debtor files a case to either stop the repo, or to get the vehicle back. A recent case out of a federal appeals court may have made this situation a […]
KEEP READING . . .If I File for Bankruptcy, Can I Keep My Tax Return Refund?
Question: What happens to my tax return if I file for bankruptcy? It’s tax time, which means you’re excited about receiving a tax refund, or you’re dreading paying more in taxes.
KEEP READING . . .Single Mother Wins Discharge of Student Loans in Bankruptcy Court
As I’ve commented before (such as here and here), the student loan issue is something that should be receiving plenty of attention in the coming months. Bankruptcy offers an interesting opportunity for student loan debtors because, under certain circumstances, courts are willing to discharge student loans. In this case, the debtor (who, to me, more people […]
KEEP READING . . .In Bankruptcy, Creditor Must Prove Sufficient Fraud Facts to Have a Debt Declared Nondischargeable
Bankruptcy can offer debtors incredible relief when successful. Debtors that may have overextended themselves, but then came under hard financial times are often reluctant to file because they are highly optimistic that the can recover and return to better financial times. Often, though, the hole they find themselves in tends to get deeper. For creditors […]
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