August 16, 2017

Choosing a Chapter 13 Bankruptcy Specialist

Filing a Chapter 13 bankruptcy case isn’t as straightforward as a Chapter 7 case. I usually find that my Charlotte area clients who need Chapter 13 bankruptcy protection have complex issues to resolve including: Businesses and partnerships that need to be unwound or otherwise dealt with Unpaid tax liabilities with the state and IRS A number of mortgaged properties and other assets they … [Read more...]

Marital Property and Bankruptcy: Allocating Exempt Property

Each state has different laws on what is recognized as exempt property, that is, property that is out of the reach of creditors (including bankruptcy trustees). Further, there are federal exemptions. I wrote about this extensively and you may find it helpful reading. Here's the kind of question that occasionally comes up when we counsel a married couple about bankruptcy. Q: The exempt … [Read more...]

Don’t Try to Hide Your Assets in Bankruptcy

I recently ran across an  article in the  St. Petersburg Times involving a person in a Florida bankruptcy case who scheduled very few assets in his bankruptcy filing but conveniently forgot to tell his attorney about $35,850 in an account that he owned. A sharp-eyed Chapter 7 bankruptcy trustee discovered the account. This resulted in the guy losing his account and being convicted of a federal … [Read more...]