Is it time for Bankruptcy? You are at the end of your rope. Nothing you have tried seems to work. You can’t duck the collectors, and you don’t have the ability to pay them anything meaningful. But you have something to lose, even if it is only part of your paycheck. You don’t want to [...]
February 2011
If you are in Chapter 13 bankruptcy and you want to sell your house, it isn’t hard so long as you let your lawyer know early, and discuss how to do it before you get underway with the sale. Permission must be granted by the bankruptcy judge in charge of your case or your [...]
This year, it seems that more creditors than ever are sending IRS Form 1099-C to their debtors who have filed bankruptcy or settled debts with them. While in many cases it is unnecessary for the creditor to do this, it is nothing to fear. If a debt is discharged in bankruptcy, it is not treated [...]
This past week, I had a consultation with a frantic debtor who really did not want to file bankruptcy. She was facing a garnishment of her wages and did not understand the garnishment. Back in 2003, a debt collector had sued her and obtained a judgment for approximately $1100.00. No payments were made from 2003 [...]
Always tell you bankruptcy attorney everything. There are a number of posts about disclosing all of your assets and all of your debts, but everything includes your income and expenses as well. And not just current income; please tell you attorney about bonuses you expect, receivables you are going to get, or anything else that [...]
Business owners who find themselves liable for unpaid payroll taxes are in deep trouble. The trust fund portion of the tax, the amount withheld from employees’ checks, becomes a personal debt of anyone in the business who could have paid that money over to the IRS. Usually, trust funds make up about 2/3rds of the [...]
