Monthly Archives: April 2012
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.
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.
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.
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?
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 […]
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?
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 […]