Recent Posts in Chapter 13 Disposable Income Category
Posted on Jan 5, 2011 By Joseph Tosti
As we start a new year, it is a good time to set some new financial goals. In particular, the goal of reducing debt or eliminating your dependence on debt should be everyone’s goal. So, how do we get ...
Continue reading "A New Year–A New Financial Goal" »
Posted on Nov 12, 2010 By Joseph Tosti
According to the 2010 Fiscal Year statistics from the Administrative Office of the U.S. Courts, the number of bankruptcies filed between October 1, 2009 and September 30, 2010 increased from 1,402,816 ...
Continue reading "2010 Bankruptcy Filings Up 14%" »
Posted on Nov 8, 2010 By Joseph Tosti
Below poverty level income for five of the past six years was no basis for discharging a chapter 7 debtor's student loans, where she was voluntarily underemployed, had no dependents, and lived with ...
Continue reading "Student Loans Not Discharged Due to Boyfriend’s Income and Voluntary Underemployment" »
Posted on Nov 8, 2010 By Joseph Tosti
A minimum payment in a Chapter 13 Bankruptcy will vary from district to district depending on the local rules. However, the minimum payment must cover what you must pay within the applicable ...
Continue reading "Chapter 13 Minimum Payment." »
Posted on Oct 12, 2010 By Joseph Tosti
If you are behind in the mortgage payment on your home , there are several things you can do. One way to stop a foreclosure is to file bankruptcy. Once filed, there is an automatic stay that goes into ...
Continue reading "Mortgage and Bankruptcy: Save Your Home!" »
Posted on Oct 4, 2010 By Joseph Tosti
A little over a year ago, Bankruptcy Law Network contributor Cathy Moran wrote a post on this blog about the 9th Circuit's decision in the MBNA v. Ransom case. At issue was the question of whether an ...
Continue reading "Supreme Court to Decide Meaning of Key Means Test Provision" »
Posted on Sep 29, 2010 By Joseph Tosti
Reaffirmation agreements have been the source of significant debate since the bankruptcy amendments of 2005. One issue that strikes fear in the hearts of debtor's counsel is whether to allow a client ...
Continue reading "Credit Scores And Reaffirmation Agreements" »
Posted on Sep 13, 2010 By Joseph Tosti
For the fiscal year 2010 ending June 30, 2010, over 1.5 million bankruptcy cases were filed in the United States. For the American people, that is a remarkable rate of one case every 20 seconds. Since ...
Continue reading "One American is filing bankruptcy every 15 seconds" »
Posted on Aug 30, 2010 By Joseph Tosti
Are you having problems paying a monthly mortgage payment? Are you living in fear of default? Here are some of the warning signs that your mortgage is a time bomb waiting to go off. The first is the ...
Continue reading "Signs That You Picked The Wrong Kind Of Mortgage" »
Posted on Aug 24, 2010 By Joseph Tosti
Many People are under the impression that you can’t wipe out IRS debt in bankruptcy. The good news is YES, you can wipe out not only IRS debt, but state tax debt, as well. BUT the tax debt must meet ...
Continue reading "Discharging Taxes in Bankruptcy" »
Posted on Aug 24, 2010 By Joseph Tosti
People sometimes spend down the last of their cash and then decide they need bankruptcy. This seems like common sense: you go broke and then you go bankrupt. But this is not how it works. There's a ...
Continue reading "Don’t Wait Until You’re Completely Broke to Contact a Bankruptcy Lawyer" »
Posted on Aug 17, 2010 By Joseph Tosti
If you are considering bankruptcy , mortgage modification, debt relief, debt settlement , debt management (credit counseling) or debt consolidation, you should look at all of them to be sure you are ...
Continue reading "Bankruptcy, Mortgage Modification, Debt Relief, Debt Settlment, Debt Management and/or Debt Consolidation" »
Posted on Aug 10, 2010 By Joseph Tosti
A bankruptcy trustee might be able to take your income tax refund whether you have filed a chapter 7 or chapter 13 bankruptcy case. Some courts say that this procedure is imprope r - but it happens ...
Continue reading "Can the bankruptcy trustee take my tax refund?" »
Posted on Aug 6, 2010 By Joseph Tosti
When a bankruptcy is filed the debtor gets an automatic stay . The stay is a very important. It prevents your creditors from continuing any attempts to collect on the debts that are owed. While in ...
Continue reading "Automatic Stay: What Is It? And Why You Don’t Want To Lose It!" »
Posted on Aug 2, 2010 By Joseph Tosti
When a bankruptcy is filed the debtor gets an automatic stay . The stay is a very important. It prevents your creditors from continuing any attempts to collect on the debts that are owed. While in ...
Continue reading "The Bankruptcy Automatic Stay Protects You" »
Posted on Jul 27, 2010 By Joseph Tosti
One question we're often asked is what the minimum debt amount is to allow someone to file for bankruptcy . The answer is very simple: there is *no* minimum debt amount to be eligible to file. This is ...
Continue reading "What Are the Minimum (or Maximum) Debt Amounts to File for Bankruptcy?" »
Posted on Jul 22, 2010 By Joseph Tosti
With the signing of the Financial Services Regulation Overhaul legislation, the Obama Administration will be turning its attention to its feeble job creation performance. Dr. Robert D. Manning, the ...
Continue reading "National Expert Predicts Rising Bankruptcy in 2011 and 2012" »
Posted on Jul 20, 2010 By Joseph Tosti
Bankruptcy can clear some types of tax debt. It will not clear a federal tax lien that has attached to your assets . However, when no tax lien has been filed, income tax debt can be discharged and ...
Continue reading "Does Bankruptcy Clear IRS Debt?" »
Posted on Jul 12, 2010 By Joseph Tosti
Often people come to see me who have been working with a debt settlement company but are unable to manage the payments to the debt settlement company or get discouraged with the whole process. How can ...
Continue reading "Considering Debt Settlement? Perhaps Bankruptcy Is Cheaper And More Efficient" »
Posted on Jun 26, 2010 By Joseph Tosti
The Bankruptcy Code does allow the debtors to claim an expense for charitable contributions, including tithing to a religious organization. This has the possible effect of allowing a debtor to qualify ...
Continue reading "Is Church Tithing Allowed in Bankruptcy?" »
Posted on Jun 23, 2010 By Joseph Tosti
At the same time the bankruptcy community is pondering the Lanning decision on what "projected disposable income" is in a Chapter 13 , I read Judge Eugene Wedoff's thoughts on whether Chapter 13 plans ...
Continue reading "Should Chapter 13 Plan Require ALL The Debtor’s Disposable Income" »