Monthly Archives: April 2012

A Big Benefit to Owing Lots of Business Debt: Skip the “Means Test” and Qualify for Chapter 7

If you owe more business debt than consumer debt, then you can avoid not only the “means test” but also some other roadblocks to a successful post-business Chapter 7 bankruptcy case.

Getting a Handle on Your Income and Business Taxes Through Bankruptcy While Your Business Forges Ahead

Could your small business survive and even thrive if you could just get better terms for payment of your back tax debts?

A Happy Chapter 7 Trustee Means a Happy Chapter 7 Case

My goal with our Chapter 7 clients is to provide a smooth path through bankruptcy to a fresh and clean start. The way to get there is to do what it takes to keep your Chapter 7 trustee happy. We keep the trustee happy by making it easy for him or her to do his […]

Irony by Perjury Adds Insult to Injury: from Lender Robo-signing to Foreclosed Homeowners Begging for Scraps from the National Mortgage Fraud Settlement

Homeowners who lost their homes to foreclosure may need to commit perjury to get restitution payments through the settlement. That would be the deepest kind of insult on injury.

Who Is the “Bankruptcy Trustee” and How Can He or She Help or Hurt Me?

The three kinds of trustees in consumer bankruptcy have tremendous power over you. So it’s important to know what they do, and how to stay in their good graces.  I’ll introduce them in this blog—the Chapter 7 trustee, the Chapter 13 trustee, and the United States Trustee. Then in upcoming blogs I’ll tell you more […]

Update on the Cash Distribution to Foreclosed Homeowners from the National Mortgage Fraud Settlement

What qualifies you to receive the $1,500 to $2,000 restitution payment for losing your home to foreclosure? More clues have just become available.

Dealing with Accusations of Business Fraud through Bankruptcy

When a small business fails, its owner or employee is sometimes accused of causing or hastening that failure through fraud or other intentional bad behavior. If that person is already considering filing a bankruptcy to deal with the financial fallout of the closing of the business, how are those accusations going to be handled in that bankruptcy case?

The Huge Advantages of Dealing with “Priority” Debts in Chapter 13

Chapter 13 is usually a much better tool than Chapter 7 for tackling priority debts. In my blog on Tuesday, April 17, I showed how Chapter 7 CAN be a good tool to pay off or pay down your priority debts—which are mostly back child/spousal support payments and taxes. BUT it takes an unusual situation […]

Protecting Yourself When Your Business Has to Throw in the Towel

If you’re seriously considering closing down a struggling business, you are likely very concerned about personal damage control: how do you end the business without being pulled down with it?

Do I Have Any “Priority” Debts and Why Are They Such a Big Deal?

As you likely know, all your debts are not treated equally in bankruptcy. Most debts can be discharged (legally written-off), but some can’t, or can only be under certain circumstances. Some debts are unsecured while others are secured by collateral. How the secured debts are treated depends on the collateral’s value, and whether you are […]

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