As a bankruptcy attorney I have focused my practice on a specific type of legal practice. I don’t know much about drafting a will, litigating a lawsuit, or defending a criminal action, but I know a lot about consumer bankruptcy. Similarly, in my experience I have found that attorneys practicing other types of law know […]
BANKRUPTCY: WHAT IS A 341 MEETING?
A 341 meeting, also known as a creditor’s meeting, is presided over by the United States Trustee, and allows creditors and the trustee an opportunity to question debtors about the schedules and statements filed in their bankruptcy case. This meeting is required under 11 U.S.C. § 341 of the Bankruptcy Code, hence the name. Creditors […]
BANKRUPTCY: WHAT IS A TRUSTEE?
A trustee in bankruptcy is a person who is appointed by the United States Department of Justice to administer the bankruptcy estate. This means different things depending on whether the debtor files bankruptcy under Chapter 7 or Chapter 13. In Chapter 7 bankruptcy, the trustee presides over the 341 meeting of creditors, during which the schedules […]
BEFORE GETTING MARRIED YOU MAY WANT TO CONSULT A BANKRUPTCY ATTORNEY
Marriage can offer many financial benefits, including tax advantages, two incomes, and someone to share expenses. Unfortunately, getting married can cost you a great deal if you need to file bankruptcy. Getting married can make a person ineligible for Chapter 7 bankruptcy and increase their payments in Chapter 13 bankruptcy. I’m going to use an […]
Beware the Creditor Offering to Settle Your Debt!
I talk to people everyday that tell me that a creditor has offered to settle their debt for less than what they owe. unfortunately these creditors rarely tell the whole truth about how much settling their debt will actually cost. When a creditor cancels a portion of a debt, they report the amount of the […]