Back in the 1970′s there was a margarine sold under the brand name Chiffon. (Or so I’ve been told. The ’70′s were a little before my time). According to the commercials, the margarine tasted so much like butter that it fooled Mother Nature. (Ok, I was around for the ’70′s, but I just don’t remember that much about [...]
March 2010
Bankruptcy law used to make sense. Then Congress and the previous Administration intervened and decided it needed to make a little less sense. One of the ways it doesn’t make sense is in some of the paperwork we have to ask you to give us, as your lawyer. For example, I spoke to an elderly [...]
So we’re still looking at that creation of Congress – lovingly known as form B22A. Once we calculate your “current monthly income” and we compare it to the “applicable median income”, we know whether your chapter 7 case is presumed abusive. You can overcome the presumption of abuse if you have enough expenses to leave [...]
Most home lenders, banks and government agencies are required to notify you and the IRS if they cancel all or a part of your debt. This is done by the issuance of Form 1099-C or, at times, Form 1099-A. By law, these forms must show the amount of debt forgiven and the fair market value [...]
So how do you figure out if your “current monthly income” – the average income you have for the past six months is above or below the median income for a family your size. Well, like so many other things in life, our government has told us what this means. Here’s a table directly from [...]
I DECLARE . . . BANKRUPTCY! So said Michael Scott in the sitcom television show “The Office.” [For video, click here I declare bankruptcy! ] With that, he was absolved of his debts. As we know and as Michael’s co-workers know but apparently Michael did not know, there is more to it than that. So [...]
