Creditors Collection Tool As a wage earner, nobody wants to see their wages garnished. Whenever a person is working for wages and they have an outstanding monetary judgment against them, there is always the risk and concern that a wage garnishment summons could be forthcoming. Judgment creditors and their lawyers have access to information which+ Read More

The biggest money pit I see when I interview prospects with financial problems is the car — always.  I have even seen people paying half of their disposable income in car payments (plus insurance, tolls, repairs, maintenance, tickets and all the other costs we don’t often consider).  It’s insane.  Here’s a post from Jay Miles in Quora.com, in answer to a young man thinking about buying a Tesla, that says it perfectly:
“No, don’t buy a car.  Cars don’t make money.  They’re depreciating assets.  You already have a wife, so there’s no need to show off.

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Beginning December 1, 2016, Proposed Federal Bankruptcy Rule, Fee and Form Changes will take effect.  The bulk of the changes will relate to litigation and notice provisions.  There will not be significant changes to the debtor’s bar.  There will be a $1.00 increase in filing fees for amending the creditor list or notice list.  The+ Read More

Here at Shenwick & Associates, many of our clients have concerns about tax debts. However, our bankruptcy practice is over 20 years old, and in our experience, tax debts are more easily resolved than student loan debts.

In order to discharge taxes in bankruptcy, the taxpayer must show that:

Most people are aware that the debt reducing and elimination powers provided by bankruptcy are unmatched. Assuming ideal circumstances which include a straight bankruptcy under Chapter 7 bankruptcy, few or no complications, and unsecured debts, an individual can eliminate their debts and get a fresh start in as little as six months. However, in some instances, individuals who have fallen into debt have additional concerns that exacerbate one’s need to eliminate debt quickly.

The filing fee is $335.00 for a Chapter 7 bankruptcy filing.  The filing fee for a Chapter 13 bankruptcy case is $310.00.  Some attorneys will allow for the attorney’s fees to be paid over an extended period of time.
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