The client owes a fistful of taxes from years ago and has spent another fistful of dollars with widely advertised outfits that solve your tax problems.  None of these tax professionals told him that old income taxes can be eliminated in bankruptcy.!
The client first hired J K Harris, with no results, except a lighter wallet.  [...]

“The US health care financing system is broken, and not only for the poor and uninsured”  According to a recent study in The American Journal of Medicine, middle-class families are collapsing under the strain of “a health care system that treats physical wounds, but often inflicts fiscal ones”.
The study, (http://pnhp.org/new_bankruptcy_study/Bankruptcy-2009.pdf) claims that 62.1% of all bankruptcies filed [...]

Although filing Chapter 7 bankruptcy usually wipes the slate clean as far as most of your debts are concerned, there are some debts that may not be discharged. 
Certain debts, such as most taxes, child or spousal support, and student loans usually survive the Chapter 7 discharge.  Debts incurred through fraud, may also survive the discharge.  And in [...]

Dairy farmers in Upstate New York are facing a crisis.  While the cost of milk at the grocery store continues to climb, the price dairy farmers receive has not.  Farmers are currently receiving $13.33 per hundredweight.  This is $4.25 below the cost of production in New York, even in the most efficient dairy farms.  Even the safety [...]

Your homestead exemption is one of the most important benefits you get when you file for bankruptcy.  It protects your residence.  In New York, you can protect up to $50,000 of equity in your home, $100,000 if you file together with your spouse.
You usually get to take the homestead exemption if the property is [...]

As my friend and colleague, Cathy Moran explained in her blog over a year ago, the benefits of filing a bankruptcy mean that the debtor provides information to the bankruptcy court in the papers filed with the court.
This benefits the debtor more than the Court–this honesty.  For full disclosure, the debtor is able to rid [...]

If 2nd Circuit Judge Sonia Sotomayor gets to sit on the US Supreme Court, she will likely give all parties a fair opportunity to be heard, and ensure that the rights of all parties, debtors and creditors alike, will be respected.  This is the prediction from the Alliance for Justice “Report on Supreme Court Nominee [...]

Choosing a bankruptcy lawyer can be difficult - you want to get the right help, but can’t figure out what’s important. Listen to this audio session to get some answers.
[Audio clip: view full post to listen]
If you liked that post, then try these…Chapter 11 is for People Too by David Leibowitz, Illinois and Wisconsin [...]

For many years, it was questionable whether a debtor who filed for chapter 7 relief was able to keep expensive real estate at the expense of paying other creditors.  At least 5 cases have come down since the new laws passed in 2005 that held that such high expenses related to residences was an “abuse” [...]

Should you file a Chapter 7 bankruptcy or a Chapter 13 bankruptcy?
The answer to the question of what type of bankruptcy to file is that it depends on your financial circumstances.
A Chapter 7 bankruptcy and a Chapter 13 bankruptcy are really designed for two different types of debt situations.
If you liked that post, then try these…Unsettled Provisions [...]