Casey Anthony in the news again for filing Chapter 7 bankruptcy. The media were mesmerized by her trial for murder of her own child. She was acquitted. She was convicted of four counts of lying to the government, but just got two of those overturned on appeal. Her bankruptcy filing claims she has no…
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Bankruptcy “reform” was enacted at the behest of the creditor lobby, you know, the ones with the money, in 2005 partly on claims that many people were filing Chapter 7 bankruptcy who could afford to pay at least some of their debts in Chapter 13 bankruptcy. Contrary to popular belief, that has NOT happened….
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Tags: 13 bankruptcy, 7 Bankruptcy, Bankruptcy, bankruptcy in the united states, Bankruptcy Income, bankruptcy laws, bankruptcy reform, chapter 13, chapter 13 bankruptcy, chapter 7, Chapter 7 bankruptcy, file bankruptcy, Filing Chapter 7 Bankruptcy, income tax in the united states, means test, personal finance, Reports Income, title 11, united states code
ruce Waye Bankrupt? Say it ain’t so! Last week we looked at Wayne Industries possible bankruptcy in The Dark Knight Rises. Well, as I practice in Michigan, let’s pretend Gotham City is here in the Great Lakes State. My memory of the flick may be fading, so I may be off on the facts. Such…
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DETROIT BANKRUPTCY COURT This is it! Home of the Detroit, Michigan bankruptcy court. Nothing marking it other than the address: 211 West Fort. The initial, usually, only, court date is held here on the third floor, for both Chapter 7 and Chapter 13 creditor meetings, or, 341 hearings. Well, for certain counties in the Eastern…
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Tags: ann arbor, Bankruptcy, bankruptcy abuse prevention and consumer protection act, business, chapter 13, chapter 7, court, court dates, detroit, detroit bankruptcy, detroit chapter, downtown detroit, file bankruptcy, hearings, law, meeting, michigan bankruptcy court, petition mill, title 11, trustee, united states bankruptcy law, united states code, united states trustee program
“I am being sued by capital one for a credit card debt…I’m unemployed…will I still have to pay if I lose in court?” Someone posted this question to me. I never know what the enemy may do, but, here are the possibilities: So here comes the long winded answer about money judgments in St. Clair…
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Tags: against, answer, civil procedure, clairs, contract law, credit card debt, creditors, default judgment, default judgments, garnishment, get a, happening, happens, judgment, judgment lien, judgments, judicial remedies, law, lawsuit, lien, money, money judgments, motion, owe, stipulated judgment
Credit cards are neither good nor bad; they have no intrinsic moral quality. Just like a baseball bat; depends how you use it. Hit a home run? Cool. Break someone’s head? Not so much. Yes, that one is subjective. It is possible to use credit cards without going overboard, pay the balance every month, get…
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Tags: baseball bats, card, carrie fisher, controls, credit, credit card use, credit cards, credit counseling, credit score, electronic commerce, finance, hotel discounts, iso standards, mastercard, merchant services, pay, payment systems, personal finance, problem, self control, self discipline, ubiquitous computing, used credit
No, it does not mean you have no property, that you lost everything by filing Chapter 7. Actually, it means that the trustee found no assets to be liquidated for the benefit of creditors. Which is a good thing, you keep everything you had before you filed. Subject to paying any liens on the property,…
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Tags: administer, asset, assets, Bankruptcy, bankruptcy courts, bankruptcy in the united states, bankruptcy trustee, business, chapter 7, creditors, equity, estate, file chapter, inheritance, insolvency law, law, meaning, reports, title 11, trust law, trustee, united states bankruptcy law, united states code, what is a
In the Eastern District of Michigan Bankruptcy Court, Detroit, ten percent of the Chapter 7 cases filed are by people without attorneys. Many of the bankruptcy petition preparers abuse the process. First, they charge more than allowed. All of the Judges in the Eastern District of Michigan Bankruptcy Court have signed an order limiting bankruptcy…
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Tags: Bankruptcy, bankruptcy courts, bankruptcy in the united states, bankruptcy laws, bankruptcy petition preparers, business, chapter 7, eastern district, economics, insolvency law, michigan, michigan bankruptcy, michigan bankruptcy court, personal finance, petition, petition preparer, petitions, preparer, the truth about, title 11, united states bankruptcy court, united states bankruptcy law, united states code
What can I keep paying for if I file bankruptcy? What bills do I have to stop paying if I file bankruptcy? These are common questions I get from people. Too much to cover in one post, so more later. First, let’s discuss mortgage payments. In chapter 7, if you want to keep your house,…
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Tags: Bankruptcy, bankruptcy stories, chapter 7, file bankruptcy, foreclosure, house payment, house worth, houses, law, mortgage, mortgage companies, mortgage payment, mortgage servicing rights, payment, payments, personal finance, real estate, story, subprime crisis background information, the house, title 11, united states code, worth
DISCLAIMER: NOTHING IN THIS POST IS MEANT AS TAX ADVICE, CONSULT A PROFESSIONAL I was shocked to hear that some of my clients were about to pay income tax because of 1099-C forms received on rental properties they had abandoned. Being my clients, they had already filed Chapter 7 and received discharges. Which means, no…
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Tags: Bankruptcy, bankruptcy abuse prevention and consumer protection act, bankruptcy filing, bankruptcy in the united states, cancellation of debt (cod) income, debt, debt forgiveness, debt income, debt relief, economics, everyone, file bankruptcy, file irs, finance, foreclosure, forgiveness of debt, income, income tax in the united states, internal revenue service, irs forms, know about, ought, pay income tax, personal finance, tax advice, taxation in the united states
