Missouri bankruptcy filers have more protection for their tax refunds now. Particularly working families have more certainty their financial needs won’t be disrupted when they need to file Chapter 7. Last year the Missouri legislature unanimously passed a bill that, among other things, provided an exemption for a “public assistance benefit.” I theorized at the [...]
*Chapter 7 Bankruptcy
Chapter 7 bankruptcies fix things; Chapter 13s allow the debtor to fix things. There are two main types of bankruptcies for consumers, and many articles have been written here at the Bankruptcy Law Network about the differences between Chapter 7s and 13s. You can look at posts by Susanne Robicsek, Kevin Gipson and me, [...]
This is a tale of two families who just wanted to protect their homes. The older couple wanted to protect their residence from the possibility that they might lose it if they had to go to a nursing home. Their daughter and her husband were having trouble paying the monthly mortgage payment on their home. [...]
Bankruptcy is not a good place to hide out if you are a super-spy. Your (financial) life is an open book and your (expensive) toys end up on the auction block. So did James Bond try to evade his enemies by filing bankruptcy in Dallas back in June, 2012? The clues are tantalizing in a [...]
The Bankruptcy Appellate Panel for the U.S. Court of Appeals, Eighth Circuit, ruled that employment bonuses paid to a debtor shortly after she filed for chapter 7 bankruptcy could not be considered part of her bankruptcy case. The court’s ruling allowed the debtor to keep $24,072.00 in bonuses, and it reversed a lower court’s order revoking her [...]
When you file any bankruptcy, it’s very easy to get caught up in the here-and-now. There are appointments with your lawyer, credit counseling requirements, paperwork to gather, and perhaps tax returns to complete and file. At the same time you may be coping with creditors’ phone calls and letters, maybe applying for mortgage modification, and [...]
