Filing Bankruptcy for Someone Who’s a Minor or Not Legally Competent

by Brett Weiss, Esq.

I will occasionally get a phone call from a family member of someone who is facing a lawsuit, repossession or foreclosure…that is scheduled for next week. Normally, I’d suggest that the potential client facing the lawsuit, repossession or foreclosure come in right away so the we can file an emergency bankruptcy petition to immediately stop the collection […]

Liar, Liar, Pants On Fire!

by Rachel Lynn Foley, Esq.

What is an asset and better still, why do I need to tell anyone about it in bankruptcy?  Let’s start with the definition of an asset.  Merriam-Webster defines an asset as something owned by a person.  Merriam-Webster has provided a simple but most excellent way to describe the term “asset”. To determine if something is […]

Tax Refunds in Bankruptcy

by Kent Anderson, Esq.

Tax refunds are a primary vehicle for short term savings in many working class families.  The average tax refund is approximately $3000, a significant amount of money.  Bankruptcy can jeopardize the accumulation for one year or, in the case of a chapter 13 bankruptcy, can eliminate this fund from routine use for years.  How does […]

Bankruptcy is an excellent retirement strategy

by Chip Parker, Esq.

Bankruptcy is an excellent retirement strategy, especially if you are behind in saving for retirement because your credit card debt is robbing you of your ability to save. Just look at the math: Let’s say you’re about 10 years away from retirement, and you owe $25,000 in credit card debt at a typical 18.9% interest. Based […]

New Forms for Bankruptcy Cases

by Adrian Lapas, Esq.

Effective December 1, 2015, new forms are required for all bankruptcy cases.  Since the bulk of Bankruptcy Law Network attorneys file consumer cases, I will confine my comments to consumer cases–that is, predominantly, chapter 7 and chapter 13 cases.  The forms are designed with the goal of making the forms easier for consumer debtors to […]

What can and cannot be included on a credit report?

by Andy Miofsky, Esq.

Did you ever wonder why certain items appear on your credit report?  The answer lies in a federal statute, 15 U.S.C. 1681c.  A consumer reporting agency may not make a report that includes the following items: “(1) Cases under title 11 or under the Bankruptcy Act that, from the date of entry of the order […]