If you are considering filing a bankruptcy, the timing of when you file might be critical. If you have filed a bankruptcy previously, there are limits of when you can obtain a discharge in a new bankruptcy. These need to be carefully examined. If you haven’t previously filed bankruptcy, you may want to do so [...]
June 2007
Every rule of law has a zillion exceptions, and any law that is called a Code is far worse than usual (examples: Internal Revenue Code; Bankruptcy Code). Bankruptcies stay on a credit report for ten years, but no one cares much after two years. Chapter 7: You get rid debts and you keep your assets. [...]
North Carolina lawmakers are taking steps to curb a leading cause of bankruptcy: Foreclosure and mortgage fraud. These bills respond to problems in the mortgage industry where professionals help arrange financing that they know they buyer can’t afford or where they know the home is over valued to provide adequate security for the loan. It [...]
The short answer is yes. However, you may want to visit with your attorney to determine if you should file a new case. The factors to be considered are:What caused your prior case to be dismissed?If it was dismissed because you didn’t have enough money to make your payments, has that changed?Does your attorney believe [...]
Despite my repetition of the bankruptcy maxim that liens survive the bankruptcy discharge, the client panicked when they were “invited” to meeting with the IRS. The revenue officer wanted to discuss their tax liens, which the letter identified in the prebankruptcy amount (in this case, tens of thousands of dollars). A lien is a right [...]
It may seem obvious, but, tell your attorney. First. If the Trustee needs to be advised, your attorney should handle it. There are few things more disturbing in the practice of law than learning something about your case from the other side. It hurts the client, because the opposition (i.e., the trustee or creditor) may [...]
