Anywhere from three weeks to fifty days after you file your Chapter 13 bankruptcy paperwork, a meeting of creditors will be held. Seven days before the meeting you will be required to give the trustee copies of your federal income tax return for the previous tax year. If you were not required to file taxes, you will provide a statement saying so.
The post Chapter 13 Bankruptcy Basics: Part Two appeared first on Tucson Bankruptcy Attorney.

Anywhere from three weeks to fifty days after you file your Chapter 13 bankruptcy paperwork, a meeting of creditors will be held. Seven days before the meeting you will be required to give the trustee copies of your federal income tax return for the previous tax year. If you were not required to file taxes, you will provide a statement saying so.
The post Chapter 13 Bankruptcy Basics: Part Two appeared first on Tucson Bankruptcy Attorney.

In this article I am going to discuss Schedule C of the bankruptcy petition, which is property exemptions. Under federal and state bankruptcy laws, there are categories and amounts of property that are exempt from the bankruptcy process. This means that you are allowed to keep the property as part of your fresh start after bankruptcy.
The post Property Exemptions in Bankruptcy appeared first on Tucson Bankruptcy Attorney.

In this article I am going to discuss Schedule C of the bankruptcy petition, which is property exemptions. Under federal and state bankruptcy laws, there are categories and amounts of property that are exempt from the bankruptcy process. This means that you are allowed to keep the property as part of your fresh start after bankruptcy.
The post Property Exemptions in Bankruptcy appeared first on Tucson Bankruptcy Attorney.

The Small Print Says Your Credit Union Can Repossess Your Car If You Are Late on Your Credit Cards. When you get a car loan from a credit union, you sign in small print that they can repossess your car if you don’t pay your credit cards.

The Small Print Says Your Credit Union Can Repossess Your Car If You Are Late on Your Credit Cards. When you get a car loan from a credit union, you sign in small print that they can repossess your car if you don’t pay your credit cards.  (I have never seen a bank do this; […]

Overview This is the bankruptcy case study for Mr. and Mrs. C., who reside in Addison, Illinois. Although the case will be filed in DuPage County, the majority of the assets reside in another county. Let’s begin with the fact that the couple rents their current home in Addison. Their former home was foreclosed upon+ Read More

The U.S. Bankruptcy Court for the Eastern District of Michigan recently considered the issue of whether a Chapter 7 trustee may bring a cause of action against a debtor for damages caused to the bankruptcy estate by the debtor’s alleged failure to comply with the debtor’s duties under section 521 of the Bankruptcy Code.

Plan Payment Problems A common problem that happens in a chapter 13 bankruptcy case is the inability to continue to make plan payments. This inability to make the plan payment can happen for a variety of reasons. The most common reasons are job loss, illness, injury, divorce, and other catastrophic events. Just recently, a couple+ Read More

Here at Shenwick & Associates, our goal for our consumer bankruptcy clients is to get as many of their debts as possible discharged, while enabling them to maximize the property they can keep in bankruptcy, which is exempted from the debtor’s bankruptcy estate that comes into being when a bankruptcy case is filed.

Bankruptcy law is a federal system, but there’s a complex interplay between state and federal law in practice.  And this relationship between state and federal law also holds true for exemptions from bankruptcy.