Across the State of Nebraska, you could have heard a collective groan of debtor attorneys as the Nebraska Bankruptcy Court issued a new ruling limiting the ability of debtors to avoid liens in motor vehicles.  In the case of In re Cardwell, the Court ruled that a debtor may not utilize the “Tool of the Trade” exemption of 

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for December 17, 2013 Patriot Coal says bankruptcy court OKs reorganization plan USEC Expects to File for Bankruptcy USEC, Enricher of Uranium for U.S., Seeks Bankruptcy  

A California woman was sentenced to six months in prison after giving false statements in court that resulted in committing bankruptcy fraud.  Patricia Bonavito, 59, pleaded guilty to charges related to making false statements under penalty of perjury, while trying to get hundreds of thousands of dollars in debt discharged by the bankruptcy court. Bonavito [...]

Most Burlington, Wisconsin residents who file for a Chapter 7 Bankruptcy will be able to have most, if not all, of their debts discharged, or “wiped out”. This means you will not be liable for the debt. Any collection attempts from the creditor will be prevented. To many, this means peace of mind and peace and quiet from collection phone calls and letters. You will be legally free of all debts that are discharged after a successful Burlington Chapter 7 Bankruptcy.
Who Can File a Burlington Chapter 7 Bankruptcy?

Some people may wonder if they need to report the amount of debt they got discharged in bankruptcy when they file their taxes.  For the most part, this may not be anything to worry about although it is something you can review with your bankruptcy attorney or tax consultant for clarity purposes.  There are several [...]

 The New York Times recently ran an article in its business section entitled 

 The New York Times recently ran an article in its business section entitled 

How much does it cost to file Chapter 13?  I have answered that question for nearly 20 years, and it seems that about every 5 years the local court rules provide a different answer.  Well, the Nebraska Bankruptcy Court rolled out yet another compensation system for debtor’s attorneys effective December 1, and this time I think the Court got it right.

Is filing for bankruptcy really as damaging as you think it is? For a while, people have been avoiding bankruptcy because of the supposed negativity that happens afterwards.  Things really have changed and as more consumers get educated about bankruptcy and how it can help you, you may see this option in a new light. [...]