Many parents have the attitude that household finances are none of their children’s business. I agree with this position to a certain extent. Children don’t need to know all the gritty details about the finances of the household. Kids shouldn’t have to experience the stress that their parents feel when struggling with debt and a… Read More »
Tax refunds are treated differently depending on whether a debtor files bankruptcy under Chapter 7 or Chapter 13 of the Bankruptcy Code. In Chapter 7 bankruptcy tax refunds owed to the debtor are considered an asset of the bankruptcy estate. This means that if a debtor files bankruptcy before they receive their tax refund, once… Read More »
If you are reading this article then you are already taking the most important step in paying off your debt. You are getting educated in how to pay off your debt faster. There are good ways and bad ways to pay off debt. First, if you have multiple credit cards with balances, pay the minimum… Read More »
One of the complaints I hear from my Chapter 13 bankruptcy clients is about the tendency of Chapter 13 plan payments to change during their case. Changes in the plan payment amount happen for a lot of different reasons and they are a natural part of the process. When a Chapter 13 case is filed… Read More »
Student loan debt cannot be discharged by most bankruptcy filers. Those people who do discharge student loans must prove that repaying the debt would be an “undue hardship.” Student loans cannot be discharged in the original bankruptcy case. An adversary proceeding must be filed, which is a lawsuit within the bankruptcy court. Adversary proceedings are… Read More »