BankruptcyQuestionsNationalBankruptcyForum

Minooka Bankruptcy Lawyer On How Often One Can File Chapter 7

07/27/11

Chapter 7 Bankruptcy Every Eight Years You can file a Chapter 7 bankruptcy case once every eight years. So oftentimes, we will see somebody where the eight years has not elapsed yet.  But, it may be coming up soon, six months or a year or something like that. We will still take their case.  We [...]

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Best Bankruptcy Attorney YouTube Performances, Part 1

07/26/11

As part of the ever growing blawgosphere, we here at National Bankruptcy Forum come in contact with marketing savvy bankruptcy attorneys everyday. Many of our tech savvy members actively advertise their law firms on television and Youtube, so we thought we’d have a little fun and highlight some of the best performances by bankruptcy attorneys [...]

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Congressional Budget Office Report: National Debt to Exceed GDP

07/26/11

It’s amazing how bad things have gotten. There is real talk of the federal government defaulting on its debts and the rating agencies will very likely downgrade U.S. Treasuries as a result. Just how dire is the economic outlook if we continue on our current deficit spending course? Ask the folks at the Congressional Budget [...]

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Cicero Bankruptcy Attorney Describes The Chapter 13 Plan

07/26/11

What we are talking about basically is the Chapter 13 plan.  It’s the reorganization plan.  And the debtor is required to not only prepare a plan which they do through an attorney, but they need to execute the plan.  If the monthly payment in the plan is not enough, the case will not be recommended [...]

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Crest Hill Bankruptcy Attorney Discusses Inheritances & Bankruptcy

07/26/11

Can you protect your inheritance that your receive after filing for bankruptcy?  This is kind of an interesting circumstance. If you know or if the debtor knows that they are going to inherit something coming up pretty soon, it could be subject to being taken by the trustee. Up to six months after filing, if [...]

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Letter to judge in bankruptcy case accusing debtor of bankruptcy fraud leads to libel suit

07/25/11

Be careful what you accuse a bankruptcy debtor of in public because it can lead to a libel law suit.   This includes letters to the bankruptcy judge.  Just that happened in one North Carolina bankruptcy case.  Read the documents here including the docket sheet and a letter.

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Chapter 7 Bankruptcy Can Erase Lawyers’ Fees In Family Law & Divorce Cases

07/25/11

If you owe your family law attorney money for your divorce or another domestic relations matter, you may think you’re stuck with the lawyer’s bill, even if you file a Chapter 7 bankruptcy. Here’s good news. The debts you can discharge in bankruptcy include legal fees owed to family law and divorce attorneys because they [...]

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IRS Tax Liens: What Every Taxpayer Needs to Know

07/25/11

An IRS lien is a federal tax lien (FTL) that the IRS places against your property, similar to a mortgage on your home or a lien on your car. The difference is that the lien is placed against everything you (the taxpayer) own, right down to the cash in your wallet, clothing, and furniture in [...]

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Feeling Guilty About Bankruptcy?

07/25/11

Feeling Guilty About Bankruptcy? The U.S. economy has historically been fueled by consumer spending. For years, lenders have spent many billions of dollars on target advertising containing subliminal messages that are aimed to convince us to buy goods we cannot afford. If you don’t have enough money to purchase what you want today, you can [...]

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Lockport Bankruptcy Attorney Describes Protecting Equity In Property When Filing Bankruptcy

07/25/11

In addition to the value of property, we obviously need to know the balance owed because that’s going to be our equity determination. The current value minus what is owed is the equity.   As with all the property that the clients have, it is Illinois law that is going to govern how much property they [...]

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