Monthly Archives: January 2021
What Happens to Cryptocurrency in Bankruptcy?
Cryptocurrency such as Bitcoin has, since 2009, been an asset that more and more people own. Some use it just like money, to buy things online, and others hold on to it like an investment, and in fact, Bitcoin has gone way up and way down in value over time. But what happens to… Read More »
Chapter 7 and the Presumption of Abuse
Not everyone can file for Chapter 7 bankruptcy because of the means test. The means test is a test of income to see if the debtor makes too much to file for Chapter 7. If a debtor fails the means test, the debtor now has two options: 1) file for Chapter 13, or 2)… Read More »
Bankruptcy Reform: a Glimpse Into What Could Be
It helps to dream big, and in the world of bankruptcy reform, that saying also applies. As the new year passes, many congresspeople in Washington have begun talking about passing a bankruptcy reform bill. While many of these will never see the light of day to actually become a law, it is interesting to… Read More »
Making Payments Outside of a Chapter 13 Plan
When you file for Chapter 13 bankruptcy, you will agree to make payments towards your debts to the trustee. You won’t have to pay off 100% of your debts, but whatever you agree to will be divided over the course of 3-5 years. At the end of that time period, all of your (otherwise… Read More »
Getting Caught Up With Your Mortgage in Chapter 13 Bankruptcy
If you are in foreclosure, there are some forms of bankruptcy that can help you more than others. One type of bankruptcy that can help you is Chapter 13 bankruptcy. This can be good to know—a large percentage of people who file for bankruptcy do so because they are behind on mortgage payments, or… Read More »
Small Business Loans and Bankruptcy
If you are a small business owner, you may have looked to the Small Business Administration (SBA) for a loan. The SBA provides valuable help to smaller businesses, which often have problems getting loans from more traditional channels. The SBA both lends and guarantees part of your loan, making it more likely that you… Read More »
Chapter 11 Bankruptcy for Individuals: Better Than Chapter 13?
You may be aware that more and more businesses are starting to file for Chapter 11 bankruptcy. But you may not be aware that even individuals in some cases can also file for Chapter 11 bankruptcy. But what advantages or disadvantages are there for an individual to file for Chapter 11, as opposed to… Read More »
Mortgage Delinquencies Are Up Since July 2020
There is the perception that the housing market is strong, and that foreclosures are down—at least, down from the levels that they were during the foreclosure crisis. And while the COVID-19 crisis has brought news of economic catastrophe, there hasn’t been a lot of news about widespread foreclosures. That’s in part to restrictions or… Read More »
Bankruptcy: How Do You Keep Your Stuff?
Many of us know or have heard of people who filed for bankruptcy. Yet, we don’t often hear of people who have lost their assets in bankruptcy. Many stories of the moving truck backing into people’s houses to haul away their belongings after they file for bankruptcy turns out to be completely false. But… Read More »
Bankruptcy and Personal Injury Cases
Bankruptcy and personal injury don’t often intersect, but when they do, there can be big problems. If you are filing a personal injury case, you should understand how a bankruptcy can affect you–whether you are the one filing or the person or business you are suing is the one filing. When The Person or… Read More »
