If you have been researching the Chapter 13 process, you know that your Chapter 13 plan amounts to a three to five year repayment plan in which you send money to the Chapter 13 trustee, who then disburses that money to your creditors. There are a number of things that can go wrong in a [...]
June 2008
Just when you thought you had heard it all in the world of credit card rip-offs, debt collection and bankruptcy, something interesting happened in the office last week. I met with two different potential clients who stated that their credit cards were cancelled, despite the clients having zero balances on the credit lines and decent credit [...]
Well, yes and no. Yes, a creditor can garnish, but no, they can’t just start garnishing without going through a series of steps first. The first thing that has to happen is the creditor has to file a lawsuit. (There are two exceptions to this first step–the IRS and Student Loan Creditors). You have to [...]
Whether you qualify for a Chapter 7 or a Chapter 13 depends in large part to the Means Test. The Means Test uses a standard for the “Operating Cost” of a vehicle as set by the Internal Revenue Service (IRS). The IRS defines Operating Costs as “The operating costs include maintenance, repairs, insurance, fuel, registrations, [...]
People contemplating a bankruptcy filing either already have bad credit or are about to. You may be perfect with your payments, but you’re running out of steam. Bankruptcy can improve your credit, since discharged debts must be listed as having a zero balance owed. Bankrate.com published today about many different ways a bad credit score [...]
I was looking for the address of Domino’s Pizza Inc., so I could send them notice that my client was filing bankruptcy on a dishonored check. Domino’s is all over the internet and television with ads for pizza and ways to order online. But nowhere do they tell you their address. So I pulled the [...]
