During my time as a bankruptcy attorney, on about a dozen occasions clients have told me that filing bankruptcy saved their marriage. I understand exactly how they feel. Most of us are stressed about money, whether the source is credit card debt, student loans, medical bills or a loan on a car we can’t quite […]
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 […]
CAN I PAY TITHING TO MY CHURCH WHILE IN BANKRUPTCY?
Sections 707(b)(2) and 1325(b) of The Bankruptcy Code provide that debtors in bankruptcy may list tithing and other charitable contributions as a deduction when determining eligibility to file Chapter 7 bankruptcy and when calculating a Chapter 13 plan payment. Not all charitable contributions can be treated as a valid deduction. Charitable contributions must be paid […]
CHAPTER 13 BANKRUPTCY: WHEN IS MY FIRST PAYMENT DUE?
Under the Bankruptcy Code, your first payment is due “not later than 30 days after the date of the filing of the plan or the order for relief.” 11 U.S.C. § 1326(a)(1). This means that once a case is filed, the trustee must have a payment in hand within 30 days. A payment mailed on […]
CHAPTER 7 BANKRUPTCY: NEGOTIATING A BETTER DEAL ON YOUR SECURED DEBT
The purpose of filing Chapter 7 bankruptcy is to discharge debt. However, discharging debt doesn’t remove liens on secured property, so although your liability for repaying a debt may be discharged, if you don’t continue making payments to secured creditors, they will likely enforce their lien through foreclosure or repossession. Debtors who wish to keep […]