Online Articles on Bankruptcy Law
Give Me A (Tax) Break!
Once upon a time, there was a little piece of legislation called The Mortgage Debt Relief Act of 2007. We will call it the Act. The Act essentially made a debt that was reduced, cancelled or forgiven due to a foreclosure or loan modification tax-exempt. This tax-exemption gave homeowners relief from taxes paid on the difference between the property value and the amount of the foreclosure or short sale. On December 31, 2013, the Act expired.
When Your Finances Make You Feel Frozen...
Part of the job of a bankruptcy attorney is educating clients. Often, people feel absolutely frozen because their finances have spiraled into an out-of-control disaster. They have a multitude of questions but feel unable to move one inch forward. It is a paralyzing feeling, but one that can be demolished when you are armed with information.
What Happens at a Meeting of Creditors?
You have received a notice from your attorney saying you have to attend this mandatory Meeting of Creditors. It sounds sort of like the Green Mile. Rest assured, this meeting is neither a death sentence nor a judgment on your life. Your attorney should have prepared you to the best of their ability and combed your case to make sure nothing has been overlooked so there will be no surprises.
Is Honesty The Best Policy in Bankruptcy?
Are you worried that the court will take your assets? Have you thought about hiding things from the bankruptcy court? Don’t do it. It is fraud and the trustee is able to find out.
The Truth Behind Credit Card Harassment & Debt Negotiation
From Birkin bags to Bikram classes to Blueprint cleanses, there’s always a reason to spend more than you have. And with all the reward and travel bonus plans available, credit cards are looking better than ever. We are a society of instant gratification – we want it all and we want it now. But for this, we pay a price…about 11-23% interest on purchases, to be exact. But wait before you swipe...