The bankruptcy estate consists of not only assets in the possession of the debtor but also their rights to stuff they don’t yet have. So if you will be entitled to a refund for 2009′s taxes and you file before you receive the refund, that right to payment is part of the bankruptcy estate. My [...]
February 2010
We recently filed a chapter 13 case for a married couple. Suddenly and tragically, the husband died. What could we do? Well, it turns out to be not so simple. Married People Filing Jointly Really are Two Cases with One Bankruptcy Case Number Most of the time, married couples think of themselves as filing just [...]
I hear the sentiment all the time, you really want me to eat beans and rice for a month? This is Dave Ramsey’s philosophy for getting out of debt. He says you have to be willing to do what you have to do to get out of debt and this may necessitate being frugal with [...]
Whether you are preparing to file a Chapter 7 bankruptcy, a Chapter 13 bankruptcy, or even a Chapter 11 bankruptcy, one of the first things you will have to do is provide a detailed listing of all your property. But how much detail is necessary, and when does it get to be too much? Practice [...]
The US Trustee administers the means test. If your bankruptcy case seems to be an abuse, the US Trustee can move to dismiss it. If your bankruptcy case was filed without credit counseling, the US Trustee will move to dismiss it.
Chapter 11 practitioners like to close their cases as rapidly as possible after the “action” is over, in order to avoid payment of quarterly fees to the U.S. Trustee. But when is the “action” over in an individual chapter 11 case after BAPCPA? While not overwhelming, the UST quarterly fees are not minor either, adding [...]
