Monthly Archives: May 2013

Filing Bankruptcy, Can You Keep Smoking?

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When you file bankruptcy, whether Chapter 7 or Chapter 13, you have to itemize your monthly living expenses on Schedule J.  The bankruptcy form itself has various categories, food, clothes, utilities, medical care, and so on.  Recreation is one category in which you could put cigarette smoking expense.

Here in the Eastern District of Michigan, the Detroit bankruptcy court, I never list more than $100 per month for one debtor in this category.  It is difficult to justify more than that, in lieu of paying back creditors.

However, a two pack a day habit, if cigarettes cost $8 per pack, is $487 per month, according to the calculator at the health status website.

Ouch!

My friend, California bankruptcy attorney Cathy Moran, has also posted on the topic of cigarette expenses in bankruptcy.

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Bankruptcy and Robo-Signing?

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Robo-signing is the automatic signing of documents, without reading them. What does that have to do with bankruptcy?  I’m glad you asked me that. Robo-signing was one of many shortcuts used by the big banks that caused the real estate bubble, the explosion of which is still causing bankruptcy filings, both Chapter 7 and ChapterContinue ReadingContinue Reading

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You Might Be Bankrupt If: You Take Your Kids’ Savings!

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I suppose nothing should surprise us anymore.   Nearly half of American parents: have admitted that they have taken money from their children’s savings accounts, and 51 per cent said they did not even feel guilty about it. Read more: http://www.dailymail.co.uk/femail/article-2320857/Almost-HALF-parents-admit-taking-money-childrens-savings–51per-cent-feel-guilty-it.html#ixzz2TmCkLgb1 Follow us: @MailOnline on Twitter | DailyMail on Facebook This is not a poll, but a study, whatever thatContinue ReadingContinue Reading

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