Posted by Kevin on September 4, 2011 under Bankruptcy Blog | 
Now, this is a little advanced. You open your mail in Hackensack and have been hit with a Notice of Federal Tax Lien. Not good because it applies to all your property and, more importantly, the collection agent is the IRS. The one thing that you do not want is for the IRS to start levying on your property to satisfy the lien. That will ruin your day or year, for that matter.
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Posted by Kevin on August 22, 2011 under Bankruptcy Blog |
Bankruptcy has its own language- sometimes quite colorful. We have cram downs and strip offs. Long before we talked about mortgages being underwater, underwater was a term used frequently in bankruptcy to determine whether a claim was secured or not.
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Posted by Kevin on August 13, 2011 under Bankruptcy Blog |
The object of a consumer bankruptcy is to get a discharge of your debts. That means that you do not have to pay them back. The Code, however, has certain exceptions to discharge. Among them is a debt for willful and malicious injury by the debtor to another person or the property of another person or entity.
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Posted by Kevin on June 22, 2011 under Bankruptcy Blog |
In a Chapter 7 case, at the meeting of creditors, the trustee almost always asks whether you are going to receive an inheritance within 180 days. If so, the trustee has a right to claw back that inheritance less any exemption that you might have.
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