,

New median income figures go into effect November 1, 2019

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in bankruptcy cases filed after November 1, 2019. The median income is an important figure, as debtors below that figure are…
, ,

Veterans Exempt from Means Test

On Friday, the President signed the Honoring American Veterans in Extreme Need Act of 2019, which excludes from the calculation of monthly income, for purposes of the Bankruptcy Code's means test, certain benefits paid by the Department of Veterans…

Bankruptcy vs. Debt Settlement – Which is better?

https://www.youtube.com/watch?v=XEoETAnhoEc Almost everyone considering bankruptcy can and should consider debt settlement as a last ditch effort to avoid bankruptcy. Debt settlement can be preferable to bankruptcy in these types of circumstances: …

New median income figures go into effect May 1, 2019

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in bankruptcy cases filed after May 1, 2019. The median income is an important figure, as debtors below that figure are almost…
,

Will I lose my wedding ring in bankruptcy?

https://youtu.be/MCJOJtcuvBE The quick answer is, I’ve never had a client lose their wedding ring. There are some interesting twists and angles to consider. The first concept to understand is exemptions. The wedding ring is exempt under…

Can I buy Christmas gifts before I file bankruptcy?

https://youtu.be/uEx7-1vZuEw Tis the season for a timely question. There are two things to watch out for: The first concept, if you file after the gift is given, concerns what are called fraudulent transactions, which could potentially invoke…
,

Modifying your car loan in a chapter 13

https://youtu.be/t6bIboRjtfM My last two posts concerned options with a car in chapter 7, including the two most popular options, retain and pay/”ride through”, or reaffirmation. But in most cases, the terms of the loan remain the same.…

New median income figures go into effect November 1, 2018

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in a bankruptcy case is filed after November 1, 2018. The median income is an important figure, as debtors below that figure…

8th Circuit Rules Minnesota Property tax refunds are not exempt under state law

The 8th Circuit Court of Appeals just released it opinion in Seaver v. Hanson, determining that state property tax refunds are not government assistance based on need. The prior caselaw on the subject at the BAP level, Manty v. Johnson, had…
,

Reaffirming Debts

https://www.youtube.com/watch?v=3UQwHfohSHI Reaffirming debts is something that is rarely done in bankruptcy, and almost never needs to be done. Reaffirming should not be confused with simply voluntarily continuing to pay discharged debt,…