It’s tax time again, and for people considering filing for Chapter 7 bankruptcy it is time to start planning so you can keep your tax refund. A tax refund is your money, just like money in any bank account. When bankruptcy is filed, those funds due must be accounted for in your asset [...]

This bill, introduced by Representative Carol Shea-Porter (D-NH), would increase the Federal Homestead Exemption in Bankruptcy to $250,000 for “medically distressed debtors”.  The bill also prohibits trustees in such instances from dismissing a case or converting to Chapter 13 based on the substantial abuse provision of 707(b) of Title ll.  A medically distressed debtor is [...]

The IRS has become more aggressive in the Northern District of California in bringing motions to dismiss otherwise performing Chapter 13 cases where the debtor has failed to pay taxes that came due after filing.
The premise of Chapter 13 is that the debtor gets protection from his pre filing creditors, and pays them from his [...]

It’s tax refund season. If you are currently in a bankruptcy, you should not spend your tax refund before talking to your lawyer! Otherwise the court may deny or revoke your discharge. That is a double-whammy — you’ll have a bankruptcy on your credit report but not wipe out the debts!
The Eighth [...]

Although the mainstream media has recently been full of reports on subprime mortgage lending, credit crisis, and the housing market woes, that same reports often overlook the obvious solution to some of those problems for consumer–bankruptcy relief. As Peter Orville noted, so-called money experts often fail to mention Chapter 13 as an option to [...]