By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7Short, easy answer – yes, same-sex married couples can file a joint Bankruptcy case and it is not even a disputed issue now. Bankruptcy law says a joint case can be filed “by an individual that may be a debtor under such chapter and such individual’s spouse.” As of June 2015, the United States Supreme… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7No…not Debtors’ Prison (unless it is child support or some taxes). It is not all that unusual that someone who files a Bankruptcy case goes to jail later, or someone already in jail or prison wants to file a Bankruptcy case. For example, take the person who is in financial trouble and gets behind on… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7The Bankruptcy Code has specific code sections that list the requirements to be eligible to file a Bankruptcy case. What is not included in the list of requirements is that the individual is a United States Citizen, or even in the country legally. Generally, if you have a residence or business in the United States,… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7,Debt Collection & ForeclosureOccasionally we see loan agreement or other contracts that have a provision in them that says the borrower will not file for Bankruptcy or that the Borrower has waived their right to file for Bankruptcy. If you sign a contract with these terms, the other party may believe you are barred from filing a Bankruptcy… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7A common question we often get is whether when one spouse files for Bankruptcy, the other spouse has to file too. The answer is no, unless there are other reasons the spouse needs to file. In most facets of Bankruptcy debtors are treated as individuals with their own debts and assets, even in joint cases… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7In this previous post, we discussed where you can file a Bankruptcy case if you are planning on moving or have recently moved. The second very important question is what state’s exemptions will apply after a move. These exemptions vary widely from state to state. In order to discourage people from moving to a new… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7People who find themselves in financial problems often face a move as well. This may be for better work opportunities or to move closer to family. If a Bankruptcy filing is also a possibility, the question becomes where to file the case (the “venue”), and whether it is better to file before or after a… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7As we discussed in this prior post there are two requirements for counseling in a Bankruptcy case. The first credit counseling session has to be completed within six months before filing the case. If the counseling is not completed and the certificate is not filed, the case will almost always be dismissed. However, although this… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7The purpose of this Blog is to provide basic, easy to read, and hopefully easy to understand, information about Bankruptcy for individuals and small businesses. If you reached this page because you are facing financial problems and exploring Bankruptcy, we hope we can help you a little. You may have a specific question, and maybe… Continue Reading
By Scott Riddle Posted in Chapter 7One basic principle of Bankruptcy is that there is usually no “marital penalty” and individuals are still able to file for Chapter 7 or Chapter 13 based on their own financial circumstances and not the separate finances of their spouse. In fact, even in a joint Bankruptcy case filed by spouses, there are still technically… Continue Reading
By Scott Riddle Posted in Bankruptcy BasicsWhile it is unusual for clients to ask whether or not they have a Constitutional right to file a Bankruptcy case, it is a question that occasionally comes up in law firm marketing materials and advertisements. The answer is no, there is no individual Constitutional right to file a Bankruptcy case or receive a discharge… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7Well, you can! When a celebrity or famous person files a Bankruptcy case we (Bankruptcy lawyers) hit the Twitter and social media waves, and our Blogs (like this one) with the news, because if a celebrity can do it you certainly should not feel bad about it! Right?!? We also get good google hits for… Continue Reading
By Scott Riddle Posted in Bankruptcy BasicsThe word “Bankruptcy” has a few definitions in the dictionary. In its most basic form, it means not having enough money to pay one’s debts and living expenses. The word has its origins in the Latin term banca rotta, which means “broken bench” (signifying the insolvency of a moneylender). This Blog focuses on the legal… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7Chapter 7 Bankruptcy is one of the two most common types of Bankruptcy filed by individuals (the other being Chapter 13). The major distinction between the two is that there is no payment plan in a Chapter 7 case and a typical Chapter 7 cases only lasts about 4 months instead of 3-5 years for… Continue Reading
