Rebuilding Your Credit After Bankruptcy

Once of the biggest mistakes clients make coming out of bankruptcy is that they fail to run a credit report to ensure that all of their information has been updated.  My office receives at least one call a month from a former client who has waited several years to pull their report (usually after they … Continue reading

Does Bankruptcy Affect Your Immigration Status?

This question often comes up in my practice from both potential clients that have not yet become US Citizens and those who are without documentation. Does Bankruptcy Prevent You From Becoming a Citizen? No.  The good news for non-citizens is that filing a bankruptcy generally will not affect immigration status or citizenship applications.   The issues … Continue reading

Life After Bankruptcy: Some Happy News!

One of the BEST parts of my job is having clients report back a few years later to let me know how they are doing.  As an attorney it is very fulfilling to see the fruits of your and your client’s hard work.  While many of us take good credit for granted there is still … Continue reading

Did you receive a 1099 from your mortgage company on a home you surrendered?

This time of year always prompts many calls regarding a 1099 received from client’s mortgage companies after the property has been foreclosed. The reason that clients receive this form is because the lender has acquired the property through foreclosure.  Form 1099-A is used to report to the IRS the acquisition of secured (i.e., mortgaged) property … Continue reading

5 Things to Look For When Selecting a Great Bankruptcy Attorney

Choosing a great bankruptcy attorney can be frustrating these days because it seems like almost every small law firm out there now advertises bankruptcy.  Like the real estate boom several years ago when every other lawyer was a real estate attorney, many novice attorneys are throwing their “lines” out there to see who they can … Continue reading

Divorce and Bankruptcy

Divorce and Bankruptcy

A divorce can be financially devastating. Often before the divorce, the financial strength of a marriage is weak. Fighting over finances is a major reason for divorce. First, if you are still married, it is much cheaper for a couple to file for bankruptcy together than to each file separately. It is important to discuss … Continue reading

Discharging Taxes in Bankruptcy

So you didn’t think you could bankrupt taxes? Filing a petition under Chapter 7 can often erase your tax debt. Income taxes can be discharged in a Chapter 7 bankruptcy, but only if all of the following tax code rules are met: The tax return on which the tax debt arises must have been due at … Continue reading

What is the 341 Hearing?

Every debtor, regardless of the chapter, must make one appearance in the case, though it is not really in “court” since the judge is not present. Bankruptcy court for the most part is quite uneventful.  The nice thing about bankruptcy court is that it runs on time and take about 10-15 minutes for most hearings. … Continue reading

Chapter 13 Bankruptcy

In a Chapter 13, you must pay back Creditors, within five years, in full or in part to the best of your ability and you must pay as much as a Chapter 7 would have paid if there had been a liquidation. Any Chapter 13 must always pay back at least as much as a … Continue reading

Who Will Know if I Filed for Bankruptcy?

This one of the most frequently asked question by my clients.  Bankruptcy is stressful enough without adding additional fear that the entire world will know that you filed.  Here is who will know that you filed: •  ANYONE YOU TELL, OR ANYONE WHO IS TOLD BY SOMEONE YOU TOLD! •  Your creditors and anyone you with whom co-signed … Continue reading

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