I Want to Shut Down a Business And Open Up a New One – But How?

I Want to Shut Down a Business And Open Up a New One – But How?
In Kansas and Missouri it’s fairly simple to form a Limited Liability Company (LLC) or incorporate a Corporation.  Both of these structures help protect the owners (or members) from some liability and also have some tax advantages.  In fact, many...
April 12, 2021
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Should I consider a debt settlement instead of bankruptcy?

Should I consider a debt settlement instead of bankruptcy?
For many people bankruptcy is often the best option, but If you are not a good candidate for bankruptcy, then you might consider trying a debt settlement with your creditors. What is Debt Settlement? Debt settlement is a negotiation process...
March 31, 2021
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How Friendly Creditors Can Make Money in Bankruptcy

How Friendly Creditors Can Make Money in Bankruptcy
Tina and Tony are a married couple who are in a Chapter 13 bankruptcy.  They are paying their plan payment on time, and things are going great until their car experiences serious issues.  Their mechanic estimates that it will cost...
March 24, 2021
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Third Round of Stimulus Checks Not Protected from Garnishment

Third Round of Stimulus Checks Not Protected from Garnishment
Today, I read an interesting article regarding the third round of stimulus checks that are on the verge of being approved by Congress.  These checks are part of a budget reconciliation act, and because a budget reconciliation act only requires...
March 11, 2021
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Is More Help on the Way for Debtors in Bankruptcy?

Is More Help on the Way for Debtors in Bankruptcy?
Even as vaccinations for COVID-19 continue to be developed and distributed, people and businesses are still in desperate need of financial help. Here’s what we know about the state of things now and where we might be headed. https://youtu.be/ywwxr8gsqaU Stimulus...
March 10, 2021
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It is Tax Refund Time Again

It is Tax Refund Time Again
Now that tax refund time is upon us again, it is time for a refresher on what to anticipate regarding your tax refunds when you file bankruptcy. Assets for Your Bankruptcy First, tax refunds are part of your bankruptcy estate....
February 25, 2021
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When is it Time to File Bankruptcy?

When is it Time to File Bankruptcy?
Most people consider filing for bankruptcy as a last resort.  Often, that's the most prudent thing to do.  However, there are some warning signs that may indicate that your debt load is more than you can handle and it may...
February 19, 2021
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Dismissal and Reinstatement of a Bankruptcy Case

Dismissal and Reinstatement of a Bankruptcy Case
If you receive a Notice of Dismissal of your Chapter 13 Bankruptcy Case, it’s time to get your case reinstated.  But let’s back up first. - Why might a bankruptcy be dismissed? * If your plan wasn’t confirmed in a...
February 9, 2021
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What if My Vehicle Needs to be Replaced While I’m in Chapter 13 Bankruptcy?

What if My Vehicle Needs to be Replaced While I’m in Chapter 13 Bankruptcy?
A Chapter 13 bankruptcy can be as few as three (3) years if the debtor is below the median income level and as many as five (5) years if the debtor is above the median income level.  Whichever time is...
January 29, 2021
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Are You Receiving COVID-19 Stimulus Money?  If So, Here’s What You Should and Should Not Do With Those Funds

Are You Receiving COVID-19 Stimulus Money?  If So, Here’s What You Should and Should Not Do With Those Funds
The good news for people who have received their $600 per person and $600 per under-18 dependent child stimulus payments approved in late December:  The legislation providing for these payments specifically excludes the payments as property of the bankruptcy estate,...
January 25, 2021
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