Using good judgment and following instructions are essential to making your bankruptcy case a success. Sometimes when I hear about some self-destructive things clients do, I can’t help but remember a line from “Tommy Boy,” one of my favorite movies. You may recall that “Tommy Boy,” played by actor Chris Farley—God rest his troubled soul—was [...]
February 2010
With the start of a new year, and the deadline for filing tax returns just around the corner, W-2s and 1099s are beginning to show up in the mailbox. This year, a new type of 1099 may show up unexpectedly. If any debts were cancelled last year, banks and other financial institutions are required to [...]
On January 6, 2010, Missouri Representative, Tim Flook, introduced House Bill 1433. The bill Mr. Flook introduced “Adds an unliquidated personal injury claim, not including compensation for actual pecuniary loss of the debtor, to the list of property that is exempt from attachment and execution.” This bill in an effort to protect personal injury claims [...]
BAPCPA provides a perverse incentive to parents to not collect child support in order to get the most out of bankruptcy. If your income over the last six months is below the median income in your state, you would typically qualify for Chapter 7 under the “means test.” But the law will also count your [...]
Your bankruptcy lawyer should ask you how long you have lived in your present state. If you’ve lived there two years or more, we know that your present state’s laws are what we need to look at to know what you are entitled to keep in bankruptcy. But if you’ve lived in your present state [...]
Borrowing for a home has been tough ever since the subprime securitized loan market collapsed a couple years ago. Without government help through the FHA, many such loans would not be made right now. But although the government is backing FHA, Fannie Mae and Freddie Mac and shoring up the mortgage market by backing many [...]
