Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for March 26, 2013 Dionne Warwick files for bankruptcy: Singer owes over $10 million, has just $25K in assets ‘Upscale’ Revel N.J. casino files bankruptcy Otelco files for bankruptcy after losing key contract

In short, if you file for bankruptcy before getting married your future spouse will not be affected.  This is a common concern for a debtor to bring up during their consultation with an attorney.  For some reason, many people are under the impression that a couple shares a credit score or there is a “joint [...]

As many of our clients filing personal bankruptcy get older, we often see clients who have taken reverse mortgages on their homes.

Whether an illegal or undocumented immigrant in the United States may file for Bankruptcy apparently hinges on whether or not the immigrant has an Individual Taxpayer Identification Number (ITIN) according to attorney Drake Shunneson.

Whether an illegal or undocumented immigrant in the United States may file for Bankruptcy apparently hinges on whether or not the immigrant has an Individual Taxpayer Identification Number (ITIN) according to attorney Drake Shunneson.

When a debtor obtains property after the filing which is on account of both prepetition and postpetition services, the property is divided between the debtor and the estate in the same ratio as the services. In re Jess, 215 B.R. 618 (9th Cir.BAP 1997).  So what does that mean?  Well if your stock options are dependent on your personal services, you had better pay attention.   That’s because courts in California will generally divide a pro rated share of your stock options between pre-filing and post-filing interests.

By Mary Ann Pekara
It's tax time and you're getting ready to file your taxes. Have you had any debt forgiven this year? How much debt? Have you thought about how that affects your taxes?
Many people do not realize that forgiven debt is sometimes taxable income. Now, there are exceptions to every rule but it is important to look into if you had debt forgiven last year and what that could mean.

Medical bills continue to be one of the main reasons why consumers seek bankruptcy protection.  Anyone who has dealt with a long term illness, hospitalization, being underinsured or no medical coverage is aware of rising healthcare costs.  Even a brief stay at the hospital has been known to create a financial burden on monthly living [...]

When You Can Be Contacted
Unless you agree to it, debt collectors cannot contact you at inconvenient times, like prior to 8am or after 9pm. If you tell them, in writing, to stop contacting you, they generally must stop contacting you altogether. Also, if they are told they cannot call you at work, they may not contact you in that way.
Who May Be Contacted

The Bankruptcy Code mandates that every Chapter 13  bankruptcy filing include a plan. In essence, a Plan is a summary sent to your creditors that lets them know how much you intend to repay and how long you are going to take to do it.