How spouses hold title to their home has far broader implications than the stepped up tax basis at death noted by The Consumerist. The post noted correctly that a house held in community property gets a step-up in basis on both the decedent’s half and the surviving spouse’s half of the property when one spouse [...]
2007
Most people don’t realize that they can go bankrupt waiting for social security disability to kick in to help with their living expenses. People think that if something happens that disables them, that they will be able to receive disability income to live on. In a recent New York Times article on social security denial, [...]
The IRS standards are ridiculous. I cannot live on what they say I should live on. How can I convince the Judge otherwise? The best way to help your attorney help you is to gather documentation. Documentation is your best evidence for presenting your budget to the Court. The means test requirement for filing bankruptcy [...]
What experts are calling the next potential credit crisis surrounds a trend where American consumers are entering into larger automobile loans for longer terms.
As usual, the Attorney always will say “it depends.” But yes, it is possible. It all depends on the type of debt you have. Generally speaking, debts scheduled in bankruptcy proceedings are either considered consumer debts or non-consumer debts. If you can prove more than ½ your debts are non-consumer debts, it doesn’t matter how [...]
Frequently, cases in bankruptcy are converted from one chapter to another. Most commonly, is the conversion from Chapter 13 to Chapter 7. More and more chapter 13 cases are converting as a result of debtors realizing that it simply makes no economic sense to save their home in Chapter 13 in light of the deflating [...]
