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Blog Posts in March, 2013

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  • Dionne Warwick Files for Bankruptcy Protection in New Jersey

    Posted By admin || 29-Mar-2013

    Legendary Grammy-winning singer Dionne Warwick has filed Chapter 7 bankruptcy protection in the state of New Jersey. Warwick reportedly owes millions in tax debt to the Internal Revenue Service (IRS) and the state of California. Her representative claims the massive debt is due to mismanagement of finances during the late 1980's and 1990's. Warwick's legal representative claims her previous ...
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  • Is Credit Counseling Required in Bankruptcy?

    Posted By admin || 28-Mar-2013

    Debtors considering bankruptcy may be aware of the credit counseling requirement needed for filing. You are required to complete a credit counseling course before you file and then a financial management course before your discharge can be granted. This qualification became effective when the bankruptcy code was revised in 2005. The idea is to help debtors become more educated and informed to ...
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  • Can Bankruptcy Help Get My Vehicle Back After Repossession?

    Posted By admin || 27-Mar-2013

    Filing Bankruptcy After Repossession Bankruptcy is known for helping people stop vehicle repossession when they file before the lender attempts to take the property. But what happens if the repossession has taken place before your petition was filed? Can you get it back? There is a possibility you can get your vehicle returned to you after beginning the filing process, yet under certain ...
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  • Will Filing Bankruptcy Before Getting Married Affect My Future Spouse?

    Posted By admin || 26-Mar-2013

    Bankruptcy and Getting Married In short, if you file for bankruptcy before getting married your future spouse will NOT be affected. This is a common concern for a debtor to bring up during their consultation with an attorney. For some reason, many people are under the impression that a couple shares a credit score or there is a "joint credit score." For the most part, debts incurred by one party ...
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  • Can I File Bankruptcy for Just Medical Debt Only?

    Posted By admin || 25-Mar-2013

    Medical bills continue to be one of the main reasons why consumers seek bankruptcy protection. Anyone who has dealt with a long term illness, hospitalization, being underinsured or no medical coverage is aware of rising healthcare costs. Even a brief stay at the hospital has been known to create a financial burden on monthly living expenses. It is one thing to be overwhelmed in debt, but what if ...
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  • How Planning Ahead May Help You Keep Your Tax Refund in Chapter 7 Bankruptcy

    Posted By admin || 22-Mar-2013

    If you file for Chapter 7 bankruptcy, you may not need to worry about your tax refund if you take simple steps to plan beforehand. If you are anticipating a refund or you have received it and you plan to file for protection, it is likely you want to know what will happen. It often depends on timing. The good news is there are a few things you can do to keep your refund. A tax refund is an asset ...
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  • I Filed Bankruptcy: Why Are Creditors Still Contacting Me?

    Posted By admin || 19-Mar-2013

    Debtors often expect creditor collection attempts to stop immediately when they file for bankruptcy protection. Sometimes the creditor isn't aware of the filing yet, which explains the collection correspondence you've just received in the mail. But, what if their attempts are still ongoing including phone calls at home, work and even attempts by mail? An important action to take would be to notify ...
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  • Understanding Differences between Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

    Posted By admin || 18-Mar-2013

    Chapter 7 bankruptcy and Chapter 13 bankruptcy are powerful financial tools that help debtors regain financial control. Many consumers who consider bankruptcy as an option may not review differences between each chapter. In this sense, it is important to understand how each chapter works in order to get a clear idea on how filing may be able to help your unique situation. While it is true ...
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  • Getting Tax Debt Discharged in Bankruptcy: 4 Requirements Your Debt Must Meet

    Posted By admin || 15-Mar-2013

    If you're wondering whether you can get can tax debt eliminated in bankruptcy, you'll need to review several factors to learn if your debt qualifies. Chapter 7 and Chapter 13 bankruptcies may help you deal with your debt in different ways. In order to understand your options in detail and learn if bankruptcy is an option to consider, review your situation with a bankruptcy attorney or tax expert. ...
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  • 3 Simple Ways to Avoid Bankruptcy Fraud

    Posted By admin || 14-Mar-2013

    If you're getting ready to file for bankruptcy, you can save yourself from sabotaging your case by being honest. Bankruptcy fraud is a serious federal offense with over 100,000 people committing the crime each year. According to the Internal Revenue Service (IRS), this translates to nearly 10 percent of bankruptcy filings done annually, having some form of fraud associated with it. Being truthful ...
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  • 5 Frequently Asked Questions about Chapter 7 Bankruptcy

    Posted By admin || 13-Mar-2013

    Understanding Chapter 7 bankruptcy can help you make an informed decision about whether filing is the best option for your situation. Getting answers to questions you may have about the process can be an important factor in choosing how to move forward with your finances. It's an opportunity to learn the facts while clearing up misconceptions about how the process works. While the following ...
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  • Do I Need to Bring Anything to a Bankruptcy Consultation?

    Posted By admin || 12-Mar-2013

    A bankruptcy consultation is good opportunity to learn more about the filing process while learning whether it is the best option for you. This is the perfect time to ask questions, review concerns, and get clarity on how bankruptcy works. During the consultation, you will discuss your circumstances in further detail and review your options on how you want to move forward. To assist the bankruptcy ...
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  • 6 Most Common Questions Debtors Ask About Chapter 13 Bankruptcy

    Posted By admin || 11-Mar-2013

    Chapter 13 bankruptcy can sometimes be a better option than Chapter 7. Debtors may consider this option after negotiation attempts with their creditors fall through or when they need legal assistance in making payments they can afford. The following questions are often asked by debtors to help determine if the process can help their unique situation. What is Chapter 13 bankruptcy? Chapter 13 is ...
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  • Some May Qualify for Student Loan Debt Discharge in Bankruptcy but Don't Attempt To Do So

    Posted By Allmand Law Firm, PLLC || 8-Mar-2013

    Debtors have heard over and over again that student loan debt is not eligible for discharge, unless they meet standards related to undue hardship. But, a recent study reviewed student loan discharges in bankruptcy with 4 out of 10 people being successful at getting their debt eliminated. While this may not seem like much, it actually brought up another issue; more debtors may have qualified to get ...
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  • Investment Advisor Pleads Guilty to Defrauding Investors and Committing Bankruptcy Fraud

    Posted By admin || 7-Mar-2013

    Former investment advisor Joseph Randall Medcalf, 56, of Fresno, CA pled guilty this week to three counts of mail fraud and one count of bankruptcy fraud. The counts stem from an investment scheme Medcalf ran for several years defrauding investors out of millions through offered investment "opportunities." When Medcalf pled guilty he admitted he carried out an investment scheme to defraud ...
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  • What Happens If I Change My Address During Bankruptcy?

    Posted By admin || 6-Mar-2013

    Changing Your Address During Bankruptcy While being in an active bankruptcy case, you may receive correspondence information pertaining to proceedings in the mail. Therefore, any changes that occur should be reported to your bankruptcy trustee or attorney to maintain communication. Debtors should be sure to report any changes in contact information as they happen to ensure they receive important ...
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  • Can My Car Get Repossessed After Filing for Bankruptcy?

    Posted By admin || 5-Mar-2013

    Getting Repo'd After You Filed Bankruptcy If you've fallen behind on car loan payments, it's common to worry about your vehicle getting repossessed. Debtors who file for bankruptcy protection often do so when they fall behind on paying bills or are struggling to make ends meet while trying to pay for necessities each month. So if you haven't been able to make a payment on your vehicle, you may ...
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  • Legal Issues Force Girls Gone Wild Video Company to File Bankruptcy

    Posted By admin || 4-Mar-2013

    Video empire Girls Gone Wild (GGW) files for Chapter 11 bankruptcy after mounting debt and legal issues. The racy girls' video empire seeks protection while disputing multi-million dollar claims including a legal judgment of $10.3 million from Wynn Las Vegas, one of its biggest creditors. Joe Francis is behind Girls Gone Wild and its multiple brands including GGW Magazines LLC and GGW Events LLC ...
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