Making Sense of Bankruptcy: The Words You Need to Understand
Going through bankruptcy is much more comfortable if its language is decoded for you. Hereâs a practical way to do this.
Crucial Question: Is It OK to Pay a Special Creditor Before Filing Bankruptcy to Keep It Out of the Bankruptcy Case?
Not a good idea. If you do your friendly creditor may have to turn over to the trustee whatever you paid it. So it wonât be so friendly.
October Tax Season: What Happens to My Income Tax Refund If I File a Chapter 7 “Straight Bankruptcy” Case?–Part 1
You can usually keep your tax refund(s), although doing so may take some maneuvering.
Crucial Question: How Can I Protect a Non-Exempt Asset with a Chapter 13 “Adjustment of Debts”?
Protect your otherwise unprotected asset(s) by flexibly paying to do so under Chapter 13. Maybe you wonât even need to pay anything extra.
Crucial Question: How Can I Use an Unprotected “Non-Exempt” Asset to My Benefit Even Under Chapter 7 “Straight Bankruptcy”?
Give your asset to the Chapter 7 trustee to pay a very special creditor. Either because you donât need that asset or itâs your best option.
Crucial Question: How Can I Protect an Asset that is Not “Exempt”?
Most people can file Chapter 7 and not lose anything because everything they own is "exempt." But what if something of yours isn't?
Crucial Question: Can I Keep Everything I Own If I Do a Chapter 7 Bankruptcy?
Most people who file bankruptcy under Chapter 7 do not have to surrender anything to their trustee because everything they own is "exempt."
The Extraordinary Tools of Bankruptcy: Make Your Creditor Pay Back Money Taken from You
Filing bankruptcy doesn't just stop creditors' present and future collection efforts against you. It might recoup money you've already lost.
Tax Season: Have Your Chapter 7 Trustee Pay Your Income Tax Debt
You may have assets not protected by the property exemptions. If you owe recent income taxes, surrender the assets so the taxes get paid.
A Chapter 7 Can . . . Help You Walk Away from Your Business by Letting Your Trustee Sell Your Last Business Assets to Pay Your Special Debts
Give the bankruptcy trustee the headache of dealing with your final business assets
Ten Things You Need to Know About Assets and Exemptions in Bankruptcy
Most of the time, you get to keep whatever you own when you file bankruptcy. These 10 truths tell you how it works.
Creditors to Whom You Feel a Special Loyalty
In bankruptcy it's okay to FEEL differently towards some creditors than others. You can also sometimes ACT differently, but only if you very carefully follow the rules.
What Happens to Your “General Unsecured Debts” in Chapter 7?
Your "left-over debts"--those which are neither secured by collateral nor belong to any of the special "priority" categories--often don't drive the decision about whether to file Chapter 7 or 13. But you still need to know how these "general unsecured debts" are handled under these two options.
Protecting Yourself When Your Business Has to Throw in the Towel
If you're seriously considering closing down a struggling business, you are likely very concerned about personal damage control: how do you end the business without being pulled down with it?
Study Shows Chapter 7 Debtors Represented by an Attorney Are “Almost Ten Times More Likely to Receive a Discharge” of their Debts
My own professional experience about the dangers of filing bankruptcy without an attorney is validated by carefully analyzed data.