Category Archives: Chapter 13
Frequently Asked Questions About Chapter 13 Bankruptcy
The vast majority of bankruptcy filings by individuals take place under chapter 7 or chapter 13 of the bankruptcy code. The shorthand descriptions of the differences between these two types of bankruptcy filing commonly used in the media do not tell you all the details about how the case will go if you file. … Read More »
4 Bummers About Bankruptcy
No one goes to bankruptcy court expecting that filing for bankruptcy will feel like taking a victory lap, but many applicants go into the bankruptcy process with an excess of optimism. Bankruptcy will take away some of your debts, but only if you hold up your end of the bargain, and even then, you… Read More »
Bankruptcy Protection for the Bourgeois
The wealthy have many resources, material and otherwise, at their disposal to enable them to lower their tax burden, while the 99 percent must work gigs that issue 1099 forms and then pay back the lion’s share of our earnings to the IRS. It is also ridiculously easy to borrow huge sums of money… Read More »
Can You Borrow Money While In Chapter 13 Bankruptcy?
If chapter 7 bankruptcy feels like getting a clean slate, chapter 13 bankruptcy feels more like running the gauntlet. You don’t get your debts discharged until after you complete your payment plan, which can range from three to five years. It is a lot like being obligated to make payments on your debts as… Read More »
Bankruptcy Tips For The Holiday Season
After living through years of financial stress, which was especially painful during the holidays, making the decision to file for bankruptcy can be a relief. Nothing puts a damper on your holiday festivities like having the court get involved in your business. This is one of the reasons that Divorce Monday, the first business… Read More »
Florida Celebrity Bankruptcy Files: Trick Daddy
Filing for bankruptcy protection is your legal right. No one can take that right away from you, not your ex-spouse, not the beneficiaries of your will, and not even the family court, the criminal court, or the bankruptcy court. In some cases there is a waiting period after one bankruptcy filing before you can… Read More »
Which Debts Should You Pay Down With Your Tax Refund?
The idea of universal basic income has been around since before the COVID-19 pandemic, but several rounds of stimulus checks have offered insights into what people actually do when they get a temporary and modestly sized windfall while living paycheck to paycheck. Most people did not splurge their stimulus checks, whether or not they… Read More »
Florida Celebrity Bankruptcy Files: Lakeisha Williams, Stepmother Of Venus And Serena
People who have seen the movie King Richard will be familiar with the story of how Richard Williams and his wife Oracene Price bought a house in South Florida and outfitted it with tennis courts where their daughters Venus and Serena would practice playing tennis until they became world champions. Today, the house bears… Read More »
How Does Filing For Bankruptcy Affect Your Career?
Everyone has the right to file for bankruptcy protection; neither the spouse nor the IRS nor anyone else has the right to stop you. Despite this, just because you file for bankruptcy protection, it does not automatically mean that the court will accept your filing. To get your bankruptcy petition accepted, you must persuade… Read More »
Can Bankruptcy Help with Past-Due Child Support?
As we have explained many times, not all debts can be wiped out in bankruptcy. The bankruptcy code identifies certain debts that are “non-dischargeable,” and child support payments are one type. But does this mean bankruptcy is useless if you owe past-due child support, called “arrearages”? No, actually. Bankruptcy does provide some tangible benefits… Read More »