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This is what happens to your student loans when you die
Because we’ve all secretly wondered what would happen. Source: This is what happens to your student loans when you die
July 5, 2017 Posted in Bankruptcy Tagged student loans Leave a comment
So you want to discharge your student loans
A debtor seeking a COURT ORDER that his/her student loans are dischargeable bears the burden of proving that repayment of the loan will impose an undue hardship. To obtain this court order the debtor must file a bankruptcy case AND a separate lawsuit (known as an adversary proceeding) within the bankruptcy case to secure the […]
June 6, 2017 Posted in Uncategorized Leave a comment
Common Questions about Credit Scores
FAQ: April 2017 Edition Q: Does my income and overall net worth drive my credit score? A: Not at all. Q: What does account for my score? A: Mostly it’s your record of paying installment and revolving credit on time, along with collection actions, civil judgments and tax liens lodged again you. Bankruptcies, foreclosures, and […]
April 11, 2017 Posted in Uncategorized Leave a comment
What’s in Your Wallet?
A new study was released last week that suggests 1 in 3 Americans would have difficulty coming up with $2,000 to deal with an emergency. Despite the economy slowly coming back from the brink of disaster in 2007, unemployment steadily dropping, and many signs pointing to improving markets, the fact that so many Americans are […]
March 31, 2017 Posted in Uncategorized Leave a comment
10 THINGS YOU NEED TO KNOW ABOUT CHAPTER 7
It is required that you have filed all of your tax returns prior to filing your bankruptcy case. You must identify all deposits in your bank accounts for the past 7 months. You are required to produce a statement from your bank that shows the balance(s) on the date of filing your case. If you […]
March 28, 2017 Posted in Uncategorized Leave a comment
Tax Refund Season
The snow has melted away despite Punxatawney Phil seeing his shadow, spring is around the corner and, before long, April 15th will be here and gone – TAX DAY in America is less than two months out. For some, tax returns represent a source of stress and anxiety over how much more we have to […]
March 3, 2017 Posted in Bankruptcy Leave a comment
1099-c… Bankruptcy can help!
Did you know that is your debt is written-off, or canceled, you can owe taxes on the amount that is canceled? See the IRS explanation here: https://www.irs.gov/taxtopics/tc431.html Bankruptcy can help. Even though you get a 1099-c, if you have a bankruptcy discharge or an ongoing Chapter 13 bankruptcy plan that has been approved by the […]
February 3, 2017 Posted in Uncategorized Leave a comment
Popular Bankruptcy Misconceptions – The Credit Report
One of the most frequently asked questions of our clients and prospective clients is “What happens to my credit after I file bankruptcy?” It is a simple question, but the answer is not as straightforward. As I often tell my clients, there is no “broad brushstroke” answer that applies to everyone equally. Each person brings […]
September 9, 2016 Posted in Uncategorized Leave a comment
Student Loans – The Worst!
Student loans in bankruptcy are a hot topic in my field and one of the most frequently asked questions I get. The answers are rarely satisfying though. The direct question, “Can I eliminate student loan debt in bankruptcy?” has a simple answer: “Almost always, NO.” Now, there are a few exceptions. The law says […]
August 19, 2016 Posted in Bankruptcy Leave a comment
Great Expectations – bankruptcy attorneys and due diligence
What the heck is “diligence” and “due diligence”? From Black’s Law Dictionary: diligence. 1. A continual effort to accomplish something. 2. Care; caution; the attention and care required from a person in a given situation. due diligence. 1. The diligence reasonably expected from, and ordinarily exercised by, a person who seeks to satisfy a legal requirement or to discharge an […]
August 12, 2016 Posted in Consumer Bankruptcy Leave a comment
