BankruptcyQuestionsNationalBankruptcyForum

WSJ Interview of Economist John Taylor: We Are In a Balance Sheet Recession

07/12/11

Summary: Top economist John Taylor says his “biggest worry” is that the U.S. economy will be anemic for years and unemployment remain high. He does not, however, advocate any additional stimulus from the government or the Federal Reserve.   View the video on our blog: http://blog.ch11cases.com/2011/06/wsj-interview-of-economist-john-taylor.html

[more]

How Does a Divorce Affect My Bankruptcy?

07/12/11

By: Aaron Huff Divorce filings and Bankruptcy filings often intersect.  In my years as an attorney practicing heavily in bankruptcy law, I have seen countless individuals in consultations where a divorce is an issue.  It is such a frequent occurence that I even list a “divorce decree” as part of the relevant documents in my [...]

[more]

How the Bankruptcy Means Test Works

07/12/11

How the Bankruptcy Means Test Works More and more consumers these days are becoming familiar with the bankruptcy Means Test and they are calling bankruptcy attorneys asking if they pass the Means Test. The Means Test is a test that you have to pass in order to qualify to file Chapter 7 bankruptcy. Actually, the [...]

[more]

Are There Alternatives to Bankruptcy?

07/10/11

Are There Alternatives to Bankruptcy?  Some things that you might consider doing as an alternative to filing bankruptcy would be to sell assets that you may have to pay your debts. Also, you might want to try to negotiate with your creditors to see if you can either reduce the balance owed or renegotiate your [...]

[more]

Bankruptcy Filing: Some Tax Consequences

07/09/11

If I received a 1099 from a Creditor After My Bankruptcy Case is Completed:  Is this Taxable Income? I’m often asked this question by my clients around tax-time as to what effect does their bankruptcy have, if any, on their income taxes.    The exact question is whether or not debts discharged (forgiven) in a bankruptcy [...]

[more]

Two Recusals, Three Divisions, Four Judges: Congressman Ruben E. Hinojosa who had his bankruptcy petition sealed, has the appeal thrown around and dropped like a hot potato by the District Judges.

07/08/11

The appellate battle between Congressman Ruben E. Hinojosa over his sealed bankruptcy petition is heating up.  It is apparently too hot to handle because it is on its fourth district judge after an unexplained transfer and two recusals.   The appeal started with Judge Janis Graham Jack in Corpus Christi.  It was the for reasons unknown [...]

[more]

What to do if you cannot afford to hire a bankruptcy attorney

07/07/11

I get a number of calls every month from people in despair who have no money at all and cannot afford to hire a bankruptcy attorney.  I do pro bono work in fact I do quite a bit of it, I just do not take pro bono cases that come in the front door so [...]

[more]

Why You Should Always Consult A Tampa Bankruptcy Lawyer When Petitioning For A Bankruptcy Discharge

07/07/11

A Chapter 7 bankruptcy may provide a person inundated with debt some relief. A Chapter 7 bankruptcy gives the debtor an opportunity to liquidate certain assets in exchange for a discharge from debts owed. Creditors included in the bankruptcy will be prohibited from taking any further collection action against the debtor once the discharge is [...]

[more]

Means Test Decides Whether You Can File Chapter 7 Bankruptcy if You Exceed Illinois’ Median Income

07/07/11

If you are experiencing serious financial difficulties in Illinois and your income is less than Illinois’ median income, then you can file a Chapter 7 bankruptcy, if you meet other minimum criteria. But if your income is greater than the State’s median income, then you must take a means test to see if you can [...]

[more]

Widespread Criticism Leads to Vote to End Last Remaining Obama Housing Program

07/06/11

The Home Affordable Modification Program, HAMP, a home loan modification program to avoid foreclosure, once touted as key to helping millions of homeowners who were “underwater” due to plummeting home values, suffered a loss when the House of Representatives voted to eliminate the program, the last remaining housing program of the Obama administration. HAMP, launched [...]

[more]