You may have seen commercials on television or heard advertisements on the radio about incorporating a business. Incorporation has several disadvantages which include complicated rules and an increase in tax liability. However, it has one very big advantage. When a person incorporates their business the corporation becomes a separate legal entity. All debts incurred by… Read More »
There is a lot of confusion about the difference between a lien and a debt. A debt is when a person owes money to another person or entity. A lien is what attaches the debt to property. When a debt is attached to property by a lien, the debt is said to be secured by… Read More »
Most things are simpler after a debtor files Chapter 13 bankruptcy. The creditors stop calling, the debtors no longer have to fear that their vehicle will be repossessed or home foreclosed, and their credit slowly starts to improve because they have established a budget and are able to pay their bills on time. Life in… Read More »
There are two courses you have to take when you file bankruptcy. The first course is a credit counseling course. It must be taken before the bankruptcy case is filed. The second course is a financial management course. You have to take this course after you file bankruptcy but before you receive a discharge. North… Read More »
When I meet someone for the first time and they find out I am a bankruptcy attorney I usually get asked about how to get out of a traffic ticket, how their friend can get a deadbeat dad to pay child support or some other legal question that has nothing to do with bankruptcy. What… Read More »