Which Exemption Laws Apply in a Chapter 7 Where the Debtor Moved to Michigan from Florida Before Filing? (Part 3 of 3)

September 5th, 2022 by

Recall in part 1 and part 2 of this article that Joe is a former Florida resident who moved to Michigan and then filed chapter 7 bankruptcy. Under the bankruptcy code, Florida is considered to be his domicile because he lived in Florida for the 180-day period preceding the 730-day period preceding the filing of […]

Which Exemption Laws Apply in a Chapter 7 Where the Debtor Moved to Michigan from Florida Before Filing? (Part 2 of 3)

August 16th, 2022 by

Recall in Part 1 of our Chapter 7 Bankruptcy blog series that “Joe” is a former Florida resident who filed chapter 7 after he moved to Michigan. Under the bankruptcy code, Florida was considered to be his domicile because he lived in Florida for the 180-day period preceding the 730-day period preceding the filing of […]

Bankruptcy Cases of Interests

July 26th, 2022 by

Priority Tax Claims In order to secure a bankruptcy court’s approval of a plan of reorganization, a debtor is required to satisfy, in full, all obligations entitled to priority treatment under the bankruptcy law[1][2]. Some taxes, owed to the federal government, generally are deemed to be priority obligations.  In a recent case, a bankruptcy appellate […]

New Bankruptcy Law Will Help More People Qualify for Chapter 13 Relief!

July 18th, 2022 by

Congress recently passed legislation entitled The Bankruptcy Threshold Adjustment and Technical Corrections Act which the President signed into law on June 21, 2022. The changes to the law will help people because it significantly expands who can qualify for Chapter 13 relief.  Chapter 13 is a reorganization bankruptcy for individuals which gives people an opportunity […]

A Corona Virus Covid-19 Side Effect: Bankruptcy

April 17th, 2020 by

Do You Live Paycheck to Paycheck? The Calm Before the Storm But, My Mortgage Company Will Work With Me, Won’t They? Be Proactive How Can A Chapter 13 Help Me? Generally speaking, if a person is facing foreclosure, a chapter 13 bankruptcy case should be filed before the foreclosure sale date. The bankruptcy laws will […]

WHICH EXEMPTION LAWS APPLY IN A CHAPTER 7 WHERE THE DEBTOR MOVED TO MICHIGAN FROM FLORIDA BEFORE FILING? (PART 1)

September 15th, 2018 by

People often think that chapter 7 cases are easy, straight forward and uncomplicated. It’s easy, right? An attorney just buys a computer software bankruptcy program, inputs some information, files the case, goes to the 341 hearing and then waits for the discharge order. While I certainly don’t turn down simple cases, I do come across […]

FILING BANKRUPTCY VERSUS USING CREDIT COUNSELING

September 15th, 2018 by

Your back is against the wall. You have tried to pay your bills on time and service your debt but you simply do not make enough money to do both. Now, you have creditors who have placed some of your accounts in collection and your gut tells you that the situation isn’t going to get […]

THE CURE FOR THE HOLIDAY DEBT HANGOVER

September 15th, 2018 by

“The holidays only come around once a year.” “They would really love this gift…it will only cost a little more.” “I’m sure that my creditors take the holidays off too, so that buys me some extra time to make a payment.” At one point, or another, we have all made these types of excuses that […]

CHAPTER 11 BUSINESS BANKRUPTCY IN MICHIGAN

September 15th, 2018 by

It’s tough running a business and even tougher to keep a business profitable. Business owners throughout Michigan navigate the delicate balance of profitability on a monthly, weekly, and even daily basis. In some situations, the accumulation of business debt overcomes a business’s ability to generate income, and in that particular situation, Chapter 11 bankruptcy should be given […]

WAYS FILING BANKRUPTCY CAN ELIMINATE INCOME TAX LIABILITY

September 15th, 2018 by

It’s a total myth that a properly executed bankruptcy cannot provide relief from an individual’s income tax liabilities. In fact, a chapter 7 bankruptcy can greatly assist with income tax problems in certain limited situations. Let’s explore below how a bankruptcy can discharge (wipe out) personal income tax liabilities in the following scenarios and situations: SOME IMPORTANT […]