All too often money problems lead to divorce. So it’s normal that a bankruptcy (or two) will be part of the picture.
Should you file bankruptcy first, or wait until the divorce is filed or concluded? A good question. The answer depends entirely on where you live and what issues need to be resolved in the divorce.
All too often money problems lead to divorce. So it’s normal that a bankruptcy (or two) will be part of the picture.
Should you file bankruptcy first, or wait until the divorce is filed or concluded? A good question. The answer depends entirely on where you live and what issues need to be resolved in the divorce.
How do I protect the tax refund. In part one we discussed why the tax refund can be a problem in bankruptcy. The refund can be a part of the bankruptcy estate and the trustee can take part of your refund and pay your unsecured creditors.
Here are some tips to protect most if not all your tax refund.
How do I protect the tax refund. In part one we discussed why the tax refund can be a problem in bankruptcy. The refund can be a part of the bankruptcy estate and the trustee can take part of your refund and pay your unsecured creditors.
Here are some tips to protect most if not all your tax refund.
A lot has changed in the consumer bankruptcy world during the last 20 years, but one thing is constant – the written notices issued by the clerk of court and by the Chapter 13 trustee’s office will cause panic and confusion in the minds of bankruptcy filers.
Perhaps the most common confusion notice – at least in the Northern District of Georgia where I practice – is the standard objection to confirmation notice issued by the Chapter 13 trustees, which is titled (in large bold print) “Chapter 13 Trustee’s Objection to Confirmation and Request for Dismissal of Case.” After listing item after item, the pleading concludes with an ominous assertion – “Wherefore the trustee moves the Court to inquire into the above objections, deny Confirmation of the Debtor’s plan, and to dismiss the case.”
A lot has changed in the consumer bankruptcy world during the last 20 years, but one thing is constant – the written notices issued by the clerk of court and by the Chapter 13 trustee’s office will cause panic and confusion in the minds of bankruptcy filers.
Perhaps the most common confusion notice – at least in the Northern District of Georgia where I practice – is the standard objection to confirmation notice issued by the Chapter 13 trustees, which is titled (in large bold print) “Chapter 13 Trustee’s Objection to Confirmation and Request for Dismissal of Case.” After listing item after item, the pleading concludes with an ominous assertion – “Wherefore the trustee moves the Court to inquire into the above objections, deny Confirmation of the Debtor’s plan, and to dismiss the case.”
Bankruptcy is like an obstacle course for debtors.
You can’t become a debtor without first taking credit counseling from an approved not-for-profit agency. The credit counseling must be no more than 180 days prior to the bankruptcy case. Most courts want you to have taken the credit counseling at least a day before your case.
Bankruptcy is like an obstacle course for debtors.
You can’t become a debtor without first taking credit counseling from an approved not-for-profit agency. The credit counseling must be no more than 180 days prior to the bankruptcy case. Most courts want you to have taken the credit counseling at least a day before your case.
Student loans are becoming more and more troublesome. People essentially mortgage their lives when they take out student loans. Student loans are not dischargeable in bankruptcy. Let’s say that again. Unless you can prove substantial hardship under the very difficult Brunner test, you won’t be able to discharge your student loans in bankruptcy.
Let’s go over the Brunner test. To prove the substantial hardship you need to file a suit against the lender who made your student loan. In that suit, you’ll have to prove:
No doubt, the convenience of having recurring monthly bill payments paid through an automatic deduction from a checking account is an attractive idea for busy people. After all, when the car payment is made without the need for even thinking about it, isn’t your time freed up to think about other things? It seems like a wonderful concept.
However, that’s exactly the problem: automatic payments allows a person to stop thinking about financial matters, and that subject is something a financially stressed person needs to think about, even if it’s painful to do. Consider that for many, a contributing cause of their money problems has been not spending enough time formulating a budget or reacting to changing circumstances.
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