Recent Posts in Dischargeable Debts Category
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Posted on Jan 10, 2011 By Joseph Tosti
Unless you are a mortician most people do not like to think about death, especially when considering filing bankruptcy. However there are times when death comes into play whether it be the death of ...
Continue reading "Death and Bankruptcy." »
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 Dec 27, 2010 By Joseph Tosti
Gov. David Paterson has signed a bill that gives more protection to New Yorkers who file bankruptcy or who have been sued by bill collectors. The new law increases the exemptions that people can use ...
Continue reading "Outgoing Governor Paterson Gives New York Debtors Something to Cheer About!" »
Posted on Dec 26, 2010 By Joseph Tosti
In earlier posts, two bankruptcies filed by debtors appearing in Bravo Television reality shows were discussed. Terese Giudice who appears on Real Housewives of New Jersey and Sonja Morgan who appears ...
Continue reading "Bankruptcy Basics: Bankruptcy Fraud can lead to Truth or Consequences" »
Posted on Dec 24, 2010 By Joseph Tosti
I've been hearing from more and more people who have purchased small businesses on an installment basis from a previous owner and are now struggling to make the payments because of the downturn in the ...
Continue reading "Defaulting on Business Purchase Loan" »
Posted on Dec 14, 2010 By Joseph Tosti
What happens if a creditor contacts someone after bankruptcy ? Under the bankruptcy laws, creditors can't take any action to collect a debt once a case has been filed. If a bankruptcy case is still ...
Continue reading "After You File Bankruptcy, What Happens If A Creditor Contacts You?" »
Posted on Dec 13, 2010 By Joseph Tosti
Being in bankruptcy means remembering priorities. A big priority is keeping a roof over your head. As I have in the past , I will suggest that this is even more important than Christmas. If you have ...
Continue reading "Christmas and Mortgage Payments: Don’t Confuse Priorities!" »
Posted on Dec 2, 2010 By Joseph Tosti
What happens to a co-debtor when a debtor files for bankruptcy depends upon the type of case that is filed. Many clients come to my office relieved to find out that a bankruptcy stays proceedings ...
Continue reading "How Does Bankruptcy Impact A Co-Debtor?" »
Posted on Nov 17, 2010 By Joseph Tosti
If you're paying minimum payments on credit card debt and have nothing saved for retirement, you are my favorite candidate for bankruptcy. The most compelling reason to file bankruptcy is so you can ...
Continue reading "Best Reason To File Bankruptcy" »
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 2, 2010 By Joseph Tosti
The new median family income numbers used for determining whether a debtor can file a Chapter 7 bankruptcy went into effect today, November 1, 2010. The numbers are provided by the U.S. Census Bureau. ...
Continue reading "New Median Family Income Numbers For Bankruptcy Effective November 1, 2010" »
Posted on Oct 11, 2010 By Joseph Tosti
Growing case law suggests that debtors should hope the bankruptcy court does not approve their car reaffirmation agreement . Huh?, you say. If you've agreed to reaffirm, and essentially waive the ...
Continue reading "Reaffirmation Agreements- Drive Happily into Sunset" »
Posted on Oct 4, 2010 By Joseph Tosti
You can't turn on a radio or watch TV without hearing or seeing commercials for debt settlement companies that suggest that they are a better choice than bankruptcy. Many, including myself, believe ...
Continue reading "Why Bankruptcy Is A Better Choice Than Debt Settlement? A Case Study!" »
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 Oct 4, 2010 By Joseph Tosti
Bankruptcy lawyers and their clients are plagued by the Brunner test when trying to discharge student loans. While the Bankruptcy Code says that student loans may be discharged if the debtor shows ...
Continue reading "Bankruptcy Appellate Panel Gets Student Loan Test Right" »
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 8, 2010 By Joseph Tosti
As a bankruptcy lawyer , one of the first things I advise my clients to do when they decide they are filing bankruptcy and hire me is to stop paying on their credit cards. More on this later in the ...
Continue reading "4 Collection Steps After You Stop Paying Credit Card Debt by K. Hunter Goff · Posted in *Filing for Bankruptcy" »
Posted on Sep 1, 2010 By Joseph Tosti
A sure way to stop creditors from contacting you is to file for bankruptcy protection. Under the Bankruptcy Code, once you file with the Court, an order called the “automatic stay” goes into effect ...
Continue reading "What Can I Do To Stop Creditors From Contacting Me?" »
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
You've seen the ads for "Debt Management Programs"-"Settle $10,000 in credit card debt for as little as $2,000!" But do they really work? Do they make sense? Or are they scams? Yes, they work. But ...
Continue reading "Are “Debt Management” Programs a Scam?" »
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 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?" »
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