When your attorney files your bankruptcy petition, almost all of your property falls under the authority of the bankruptcy court and trustee’s authority. The court can order any non-exempt property that is in your estate to be sold and the proceeds given to your creditors. The following property is not in your bankruptcy estate: Property…Read more
Can I Convert My Chapter 7 Bankruptcy to a Chapter 13 Bankruptcy?
While the Supreme Court has held that the right of a debtor to convert her Chapter 7 bankruptcy case to a Chapter 13 case is not absolute, it is possible in some circumstances. Any debtor who has begun a Chapter 7 case may convert it to a Chapter 13 case at any time during the…Read more
Taking Out a Mortgage to Pay Your Foreclosure Defense Lawyer – A Post Script
Last week I wrote a post about a new scheme that some Florida attorneys were using to help their clients pay attorney fees to defend against lenders trying to foreclose on their homes. The New York Times story that was the source of my post got the Florida Bar Association’s attention. It is investigating one…Read more
What is the Discharge Injunction in Bankruptcy?
Section 524(a) of the Bankruptcy Code states: A discharge in a case under this title— (1) voids any judgment at any time obtained, to the extent that such judgment is a determination of the personal liability of the debtor with respect to any debt discharged under section 727, 944, 1141, 1228, or 1328 of this…Read more
Will I Owe Taxes on My Debts that are Discharged in Bankruptcy?
Discharge of debt through bankruptcy is not taxable, unlike other types of discharge of debt (debt settlement, lawsuit settlement, etc.). If you receive an IRS form 1099 for discharged debt from a creditor after bankruptcy, you should talk with your bankruptcy attorney. The 1099 amount should generally not be included on your tax return. If…Read more
Where Can I Find Debtor Education Providers for Bankruptcy?
After you attend your meeting of creditors, and before your bankruptcy can be discharged, you must complete a debtor education course. This course can be taken over the phone, online, or in person. After you complete the course, you’ll receive a certificate of completion which your attorney must file. You can find a list of…Read more
Where Can I Find Credit Counseling Providers for Bankruptcy?
Before your bankruptcy attorney can file your bankruptcy petition, you must complete a credit counseling session. A typical counseling session takes about an hour and can be done online, over the phone, or in person. Once you complete the class, you must get a certificate of completion, which your attorney will include with your bankruptcy…Read more
Will I Lose My Tax Refund if I File Bankruptcy?
Tax refunds are part of the bankruptcy estate, and a bankruptcy trustee can require you to hand over your refund for distribution to your creditors. However, any earned income tax credit that the debtor may be entitled to has generally been held to belong to the debtor. Whether or not the trustee will ask for…Read more
What Should I Bring to My First Consultation with a Bankruptcy Attorney?
Your first consultation will give you the chance to ask one of our bankruptcy attorneys about the bankruptcy process and decide whether or not he would be someone you think you can work with and trust to handle your case. The consultation will also be a chance for the attorney to ask you lots of…Read more
What Are the Steps in a Chapter 7 Bankruptcy Before My Case is Discharged?
One day, I’ll have to do a Top 10 list of questions that my clients ask me. But somewhere in there is, “How long will it take before my bankruptcy case is done.” Of course, I can’t give an answer that applies to everyone, but in our office, these are the steps we take to…Read more
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