Is your Chapter 13 plan paying back mortgage payments that were delinquent when you filed bankruptcy? If so, a mortgage interest tax deduction lurks, unclaimed, in the trustee’s records. Track down that tax deduction, add it to your tax return, and you reduce your federal income tax burden. But it’s difficult because, for reasons I […]
The Difference Between Good Bankruptcy Lawyer and Great Bankruptcy Lawyer
Finding the right bankruptcy lawyer may be the difference between a successful bankruptcy and a nightmare. Choosing a lawyer you can talk to is critical because the basic bankruptcy bargain is full disclosure in exchange for discharge of debts. You’ll be disclosing lots of information normally held confidential. But there’s more. It’s not just a […]
Pay Off Credit Cards Without Interest: Bankruptcy For The Solvent
Once again, Chapter 13 rescued a client. He’ll get out of debt and pay off credit cards with no interest going forward. So many people tell me they could pay off the credit card balance if it wasn’t for the high interest. This client owned a home, had a job, and was solvent on paper, but […]
No House, No Discharge When Chapter 13 Goes Off Script
Sound the alarm. Chapter 13 bankruptcy cases are getting dismissed right and left when debtors fail to make mortgage payments. What began as a trickle of Chapter 13 cases ending badly has become a torrent. More and more, bankruptcy judges are strictly enforcing the direct pay term of Chapter 13 plans. If your plan says […]
Going To Court In Your Bankruptcy Case
Every bankruptcy debtor must go to court in their bankruptcy case. It’s usually the first and only time that your personal appearance is required. And these days, your “personal appearance” is by Zoom. What’s the point of going to court The first meeting of creditors has two basic purposes: to have the debtor validate the […]
How Many Collection Calls Is Too Many
The CFPB has answered the burning question of how many collection calls is too many. Starting November 30, 2021, seven calls within seven consecutive days is the limit. More collection calls than that constitutes prohibited harassing conduct. And harassing conduct violates the Fair Debt Collection Act. Remember that the FDCPA governs the conduct of debt […]
Women win new protections in California exemption law
New California exemption laws will expand protections for alimony and eliminated a barrier to filing for bankruptcy protection without the involvement of an estranged spouse. Although not limited to women, in the bulk of cases in my 40+ years of practice, it’s women who will most often benefit from these changes. Exemptions operate to define […]
Tax Deductions Hidden In Chapter 13
Don’t miss the tax deductions hiding in your Chapter 13 bankruptcy. The same, very important debts that your Chapter 13 plan pays are often tax deductible. And you are still the person who’s paying, even if the trustee writes the check. Don’t miss out on those deductions. Tax deductions in bankruptcy Let’s look at some […]
Double Dipping On Retirement Savings
Any time you can double your retirement savings and protect your money from creditors is a good time of the year. The period between New Years and Tax Day is my favorite time of the year, just for that reason. You can make contributions to your IRA last year AND contribute to this year’s IRA […]
No More Lawsuits On Old Debt In California
California law has turned the tables on debt buyers suing on old debt. Under new California law, a creditor must allege that the statute of limitations has not run when it files a lawsuit. No more suing on long-dead debt and winning unless the consumer files an answer and pleads the statute of limitations. No […]
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