Every chapter 7 or chapter 13 bankruptcy filing involves a creditors meeting which occurs about one month after the case is filed. This meeting can unexpectedly become the perfect storm where, if enough of the wrong factors jell together, the debtor may blurt out the “forbidden reason” for spending down his or her bank accounts before [...]
April 2010
Weather forecasters gave us Rhode Islanders fair warning that we would be experiencing the worst rain storm in over one-hundred years. We even made national news. Small streams were overwhelmed, the water table rose, and property owners that never before worried about such things were forming lines outside Lowe’s and Home Depot hoping to buy [...]
Bankruptcy debtors who receive substantial mileage reimbursement checks from their employers often puzzle over how to account for this “income” on their bankruptcy statements or in the means test. Because these schedules form the basis for qualifying for chapter 7, or for calculating the proper amount of a chapter 13 payment, large mileage reimbursement checks can [...]
“Bankruptcy: What is Chapter 13 Bankruptcy?” provides a general overview of a Chapter 13 bankruptcy. But exactly how does Chapter 13 bankruptcy work? Will I be able to keep my house? My car? These are questions that I hear often from clients who are considering their bankruptcy options. This article discusses the purpose for which Chapter 13 [...]
Bankruptcy lawyers always tell people to use cash whenever possible. We tell you that to help you save money — and to make it harder to overspend. Cash feels precious to us while credit cards or even debit cards do not. It turns out that cash also makes you feel good. Yes, I know, this [...]
An alternative to bankruptcy tops every debtor’s wish list. “Don’t file bankruptcy”, warn debt settlement companies on the radio, feeding that desire. Instead, they want you to pay your money to them. They say they will help you save up a big pot of money and then settle your debts for pennies on the dollar [...]
