We are a modern society…we want it now, we want it quick, we don’t like to wait. Tax preparers know this. Over the years, some tax preparation agencies have offered a refund anticipation loan (RAL) or to put a consumer’s refund on a plastic card that is similar to a debit card. The fees for [...]
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Bankruptcy lawyers preach using cash, not plastic, to pay for everything you can. Most people listen but they don’t actually do it. But why should they? You don’t spend money if it’s money. It’s that simple. Scientists and casinos have known for a long time that people will spend more if they don’t see actual [...]
There is no “cure” for a foreclosure of your home, but bankruptcy can certainly help. If you haven’t lost your house yet, but are behind in the payments, go talk to a competent bankruptcy attorney as quickly as you can. There might be a way to save the home in a Chapter 13 . If, [...]
Is there a minimum amount of money that you must owe before you can file bankruptcy? No but the answer to this question is more nuanced than that. Technically, there is no minimum amount of debt that you must owe before you can file bankruptcy. But, when you consider that many attorneys charge anywhere from [...]
When a business fails, the owners often find that they are left with considerable debt and have to file bankruptcy. If it was a sole proprietorship or a partnership, the owners are personally liable for all of the debts. If a corporation or limited liability company was formed, that might protect the owners from liability. [...]
In re Green 09-44481 of the Western District of Missouri Bankruptcy Court established that Social Security funds do not necessarily need to be used to pay one’s creditors. In this case the debtors have a surplus of income in the amount of $1,468.94 per month. This surplus income is solely derived from Social Security benefits. [...]
