Posts

FICO Chief Talks About Credit After Bankruptcy

People considering bankruptcy are usually concerned about bankruptcy’s effect upon their credit score and what they need to do in order to rehabilitate their credit. I saw an interesting article in Yahoo Finance about an interview with Mr. Mark Greene, the CEO of Fair Isaac & Co., the managers of your FICO score.

Does A Workers Compensation Settlment Count As Income In Means Test Analysis?

A bankruptcy attorney sent me an interesting question about treatment of workers compensation benefits in the Chapter 7 means test calculation. Workers compensation payments are exempt from creditor garnishment outside of bankruptcy, and debtor’s

Is It An Automatic Stay Violation If Doctor Refuses To Treat Bankrupt Patient Unless He Pays Doctor's Pre-Petition Medical Bill?

Here’s an interesting issue that circulated on a bankruptcy attorney listserv. A debtor files bankruptcy because he cannot pay credit card and medical bills.

Number Of Tax Dependents Does Not Determine Household For Bankruptcy Means Test

Here’s a question from a bankruptcy attorney in South Florida which touches upon an important and very basic concept for the bankruptcy means test. The attorney states that he represents a Chapter 7 client who has been in a domestic partnership for a long time. He and his partner have two children. The client claims himself and one of the children as a dependant for income tax purposes. The attorney asks if the debtor includes only his income and the expenses of the child he claims as tax dependent, or household income. The answer is household income. For bankruptcy purposes, the debtor’s household includes all the people living in the home as a primary residence regardless of whom is claimed as a dependent for tax purposes. This debtor’s means test should include everyone’s income and everyone’s household and living expenses. ------------------------------ The best way to find a good bankruptcy lawyer is to make sure that you're dealing with a firm that specializes in bankruptcy.

When Bankruptcy Benefits Criminals? Comparing O.J. And Casey.

After reading and considering my posts regarding legal issues in a Casey Anthony bankruptcy, an attorney sent me an email asking why O.J. did not file Chapter 7 bankruptcy. He asks why would bankruptcy work for Casey if it did not work for O.J.

Chapter 13 Wage Deduction Order For Defense Industry Employees

Image
Chapter 13 plans have a very high completion rate when debtors agree to pay using a wage deduction order. Payment is more likely when deducted from your paycheck as opposed

Bankruptcy Court Says No Liability For Assisting A Debtor's Fraudulent Transfers Or Conversions

A fraudulent transfers and fraudulent conversions prior to filing Chapter 7 bankruptcy can be detrimental in two ways. First, the Chapter 7 trustee can reverse the transfer or conversion, take the property back from the transferee (recipient), and sell the property for the benefit of your