People file for bankruptcy for a lot of different reasons. I told someone the other day the story about Tom Petty. In 1979, rock & roll legend, Tom Petty filed for bankruptcy protection to cancel his record contract with Shelter...
Can I Keep My Credit Cards after Filing for Bankruptcy
When we prepare bankruptcy paperwork, one of our duties is to make sure that ALL of our clients’ debts are listed. That is true for a Chapter 7 liquidation, or a reorganization like a Chapter 13, 11, or 12. However,...
September 15, 2022
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What is an Adversary Proceeding in Bankruptcy?
When a debtor files for bankruptcy he/she must list all creditors (i.e., the entities to which the debtor owes money). There are some debts that automatically don’t get discharged, such as student loans, taxes (unless they are old enough and...
August 26, 2022
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Debt Consolidation: Savior or Scam?
In 2021, U.S. consumer debt rose to almost $16 trillion. With so many Americans struggling to pay their bills, debt consolidation is often considered a solution to financial problems. However, the success of debt consolidation is by no means guaranteed...
August 11, 2022
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Hire a Lawyer to Explain Legal Information to You Clearly and Simply
I am not a doctor, so I don’t expect to understand medical terminology or read a chart or x-ray. If I needed to understand this information, I would ask my doctor or medical team to explain it to me in...
August 5, 2022
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Why Do I Still Owe Taxes After My Chapter 13?
When a debtor files a Chapter 13 bankruptcy, he/she is required to pay in full over the life of the payment plan any taxes that are non-dischargeable, which are known as “priority” taxes. If a debtor has taxes that do...
July 18, 2022
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Bankruptcy is a Form of Asset Protection
Most people file for bankruptcy protection to eliminate debt or restructure payments into an affordable plan. The ability to get a fresh start or rearrange your budget to make debt servicing affordable is a very reasonable basis for filing. But...
July 11, 2022
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Home Owners Options for Debt Relief in Missouri
If you live in Missouri, it might be difficult right now to get Debt Relief by filing a Chapter 7 bankruptcy because you might have too much equity in your home. In Missouri, a debtor can exempt only up to...
July 1, 2022
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Buy Now, Pay Later and Bankruptcy: What Consumers Should Know
Consumers looking to buy everything from airline tickets to trendy jeans to the latest Apple products have likely seen the option to finance their purchase over time using Buy Now, Pay Later. Popular BNPL companies like Affirm, Afterpay, Zip, PayPal’s...
June 24, 2022
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Have a Lawyer Review Your Plan, Save You Money Later
As lawyers, we are used to dealing with complicated situations as things go bad financially for people, farms, and businesses. By the time we meet our clients, they’ve usually exhausted non-bankruptcy options to keep their business or farm going or...
June 7, 2022
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