Blog Posts in November, 2010
Posted on Nov 29, 2010 By Majed
Bankruptcy is a daunting concept for many, so it is understandable that a debtor would want to keep this time in his/her life under wraps. The bad news is that bankruptcies are a matter of public ...
Continue reading "Can I Keep my Bankruptcy Private?" »
Posted on Nov 26, 2010 By Majed
Bankruptcy is open to "...only a person that resides or has a domicile, a place of business, or property in the United States, or a municipality, may be a debtor under this title" [11 U.S.C. Section ...
Continue reading "I am an Immigrant – Can I file Bankruptcy?" »
Posted on Nov 24, 2010 By Majed
A debtor is under the federal income tax guidelines whether or not he or she is in a Chapter 7. Some individuals who have made under a certain amount in taxable income are not mandated to file federal ...
Continue reading "Do I Have to File Income Taxes While I am in Chapter 7?" »
Posted on Nov 22, 2010 By Majed
There are pros and cons to every type of bankruptcy filing. For an individual whose personal finances are closely tied to their business, choosing between different bankruptcy types can be daunting. ...
Continue reading "Should I File Bankruptcy for Myself or My Small Business?" »
Posted on Nov 19, 2010 By Majed
It is unlikely that a trustee will approve taking on more debt while an individual is in bankruptcy. The trustee's function is to represent the interests of the bankruptcy estate, as well as a ...
Continue reading "Can I Apply for Credit While I’m in Bankruptcy?" »
Posted on Nov 17, 2010 By Majed
According to the United States Bankruptcy Court for the Northern District of Texas, bankruptcy cases are up 14% for the 2010 fiscal year, meaning the 12-month period ending September 30, 2010. ...
Continue reading "Bankruptcy Filings up Nearly 14 Percent over Last Fiscal Year" »
Posted on Nov 15, 2010 By Majed
The Bankruptcy Code, as well as the Internal Revenue Service, requires that an individual debtor report ALL of his/her earnings, regardless of whether you are a banker who gets his paychecks delivered ...
Continue reading "Can I File for Chapter 13 if I Get Paid in Cash?" »
Posted on Nov 12, 2010 By Majed
Getting a second job may be helpful in that it gives you more discretionary income and breathing room from creditors. However it can be dangerous for a debtor in a Chapter 7 or Chapter 13 to obtain ...
Continue reading "What Happens if I Get a Second Job?" »
Posted on Nov 10, 2010 By Majed
Possibly. The Federal Bankruptcy code mandates that inheritances received within 180 days of a bankruptcy petition being filed are included in the bankruptcy estate. This equates to roughly 6 months ...
Continue reading "Will my Inheritance Become Part of the Bankruptcy Estate?" »
Posted on Nov 8, 2010 By Majed
Possibly. When an individual files for a Chapter 13 restructuring, he/she agrees to enter into a court-approved debt repayment plan for a certain amount per month. The debtor is required to pay this ...
Continue reading "Will my Chapter 13 Impact my Income Tax Refund?" »
Posted on Nov 5, 2010 By Majed
People change their names for many reasons. Marriage, adoption and divorce are just a few reasons why an individual would change his/her name. If a debtor changes his name during the bankruptcy ...
Continue reading "What Happens if I Change my Name During a Bankruptcy?" »
Posted on Nov 2, 2010 By Majed
Yes. Moving within the state should not affect your bankruptcy proceeding. As with all of your personal information, the trustee for your case should be alerted immediately of your new contact ...
Continue reading "Can I Move During a Bankruptcy?" »
Posted on Nov 1, 2010 By Majed
The goal of personal bankruptcy is to obtain a discharge, which is absolves a debtor of his/her legal obligation to pay a debt. In light of this goal, two problems are presented when a creditor is ...
Continue reading "What Happens if you forget to list a Creditor?" »