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When Legal Matters Become Personal
Article in The Wall Street Journal on 12/9/2012 You, too, can be a credit-score hotshot. Fair Isaac, creator of the commonly used FICO credit score, used to be tight-lipped about what it took to earn its best scores. But this fall, it provided some insights into...
A long-awaited decision was issued last week by the 8th Circuit Court of Appeals, dismissing a chapter 13 trustee’s appeal of a decision by the 8th Circuit Bankruptcy Appellate Panel, which had noted that the concept of lien stripping is noncontroversial and has been...
A Minneapolis federal court recently sanctioned a Minneapolis lawyer $50,000 for trying to invalidate mortgages without a legal basis under Minnesota. While some courts in other states have been quick to nullify mortgages when the foreclosing mortgagee cannot prove...
The quick answer is that you can almost always protect your tax refund. There are several different scenarios at play, so first, it is best to understand your rights outside of bankruptcy, and then I will address what happens to your tax refund when you file...
It seems every February, I get two or three calls from former clients, whose houses have gone into foreclosure, and they received a 1099-C from their mortgage company. The IRS does consider canceled or forgiven debt to be a form of income. However, if you have filed...
What To Look For In An Attorney It’s hard to call friends and tell them that you are looking for a bankruptcy attorney. Ironically, I still do get a substantial portion of my clientele from referrals. But as you peruse the websites and other methods of choosing an...
More on the ongoing lien stripping appeal that is before the 8th Circuit Court of Appeals. A decision is expected by summer, and I expect it will be resolved in favor of homeowners. Lien Stripping Approved An appellate court has approved stripping second mortgage...
My fee depends on a few things, including your marital status, whether you are self employed, own real estate, and/or are over the median income. The current court filing fee is $335 for a Chapter 7 or $310 for a Chapter 13, and you also need to go through two parts...
Yes, even if you plan on keeping the asset (such as a home mortgage or car loan), even if you know they won’t get discharged (such as taxes, student loans or child support) and even if it’s a credit card you wanted to keep. They and your other creditors are entitled...
A common question indeed, although there is not a one-size-fits-all answer. I have lectured on this topic several times amongst my colleagues. As a general rule, if there are joint debts, a spirit of cooperation and a joint goal in getting those debts wiped out, it...