Things Debt Collectors Won’t Tell You (Part 2)

Part 2 in the series examining things you should know that debt collectors don’t want you to know.

Stopping Foreclosure: Better By Prayer or Bankruptcy Planning?

prayer

A while back I wrote about the perils of waiting too long to file a bankruptcy case (see http://bklaw.com/bankruptcy-blog/2010/06/waiting-too-long-to-file-bankruptcy/).    One common theme that is becoming ridiculously frequent is people waiting for loan modification approval to save their homes from foreclosure and then contacting a bankruptcy attorney on the eve of foreclosure to try to [...]

Filing Taxes After Bankruptcy: Is Discharged Debt Income to You?

IRS 1040 Tax Form Being Filled Out

Do you have to pay taxes on debts discharged in bankruptcy? How do you handle your tax returns after a bankruptcy?

Bankruptcy Doesn’t Affect Co-Signers’ Obligations

The bankruptcy of one party does not affect the liability of another party, whether they be a co-signer or co-obligor on the debts. Bankruptcy discharges the obligation to pay on a debt; it does not eliminate the debt itself.

Removing Judgment Liens in Bankruptcy

Can you remove a judgment lien in a bankruptcy case?

Bankruptcy: Debtor’s Prison Abolished!

Debtor’s prisons were abolished in 1833 yet people still think they exist. Bankruptcy laws are designed to protect people and aid in financial recovery.

Means Test: 401k loan repayment not an Expense

Court rules 401k loan repayments cannot be used in budget on means test to determine eligibility to file bankruptcy.

New Bankruptcy Mortgage Modification Dropped

The new bankruptcy mortgage modification plan has been, or is expected to shortly be, dropped from its agenda.

Bankruptcy Attorneys and Debt Relief Agencies

I write this post to clarify the definitions of a “bankruptcy attorney” and a “debt relief agency” (“DRA”) because, at least according to one recent client, there is a substantial amount of confusion over these terms. A bankruptcy attorney is an attorney (or lawyer), licensed to practice in the courts of whatever jurisdiction he is [...]