4 Situations in Which a Debtors Bankruptcy Case Can Go Directly to the Circuit Court of Appeals
Most bankruptcies aren’t very complicated. In fact, many are simply no-asset chapter 7 cases, and the remaining chunk—especially in Las Vegas—involve an underwater house. However there are situations when bankruptcy cases will encounter issues that need judicial review by a law court and not a bankruptcy court. For example, we recently covered the Hedlund student […]
3 Things to Know About ‘Domestic Support Obligations’ in Bankruptcy
Family law and bankruptcy go together frequently as it’s common for recently divorced debtors to file bankruptcy as well. It’s an unfortunate stress to heap onto personal family problems, but because wealth often changes hands in divorce—and debts are often created—it’s important to know the relationship between obligations that arise after divorce and bankruptcy. Here […]
4 Things to Consider About Unborn Children and Bankruptcy
One thing that can significantly alter the financial situation of someone considering Las Vegas bankruptcy is having a child. In a time of low wages, raising a family is much harder than it used to be. Consequently, people who have large debts must consider the ramifications of their growing families on their bankruptcies. Here are […]
2 Options for Dealing With an Underwater Mortgage After Chapter 7
Most of the time, people with underwater mortgages want to know what their options are before they file Las Vegas bankruptcy. They usually receive the list: short sales, offering the deed-in-lieu of foreclosure, refinancing, bankruptcy, etc. However, people who have already filed chapter 7 bankruptcy find that they still have to pay on the mortgage […]
4 Facts About Income Tax Refunds in Las Vegas Bankruptcy
Tax day is rapidly approaching for Americans, and one thing that weighs on debtors’ minds is what happens to any income tax refund they might receive. In particular, they may wonder whether the trustee will take their refund if they choose to file before their income tax deadline. Here are four things to know about […]
3 Benefits the Servicemembers Civil Relief Act Provides Debtors
Earlier in March, readers of The New York Times‘ Dealbook blog received the shocking news that four large banks (Bank of America, Citigroup, JPMorgan Chase, Wells Fargo) foreclosed on the homes of 700 military servicemembers unlawfully. What law exactly? The Servicemembers Civil Relief Act (SCRA), which provides members of the U.S. military and national guard with […]
4 Steps to Executing a Waiver of Discharge
Most people who file Las Vegas bankruptcy are looking to discharge debts, especially if they are filing in chapter 7. There are circumstances, however, when discharge isn’t the debtor’s ultimate goal—or at least discharge of all debts. For example, many people who file chapter 7 also sign reaffirmation agreements with the lender who holds the […]
4 Requirements to Prove ‘Special Circumstances’ If You’re Failing the Chapter 7 Means Test
Most people who file Las Vegas bankruptcy choose chapter 7 because it’s quick, and they have mainly consumer debt. The Bankruptcy Code, however, doesn’t simply let anyone file in this chapter because it requires them to pass the “means test.” Debtors with incomes exceeding the median for their state will face dismissal for filing what […]
12 Ways the New CFPB Rule Can Keep People Out of Foreclosure
Recently, the Consumer Financial Protection Bureau (CFPB) issued a new rule that changes how banks go about lending mortgages to potential homeowners. On January 17, 2013, the CFPB issued a complementary rule addressing how mortgage servicers operate, with a goal of preventing needless, mistaken, or fraudulent foreclosures. Here are twelve things the new rule does […]
4 Reasons A Debtor May Not Be Eligible for Chapter 13 Las Vegas Bankruptcy
Although most people who file bankruptcy in Las Vegas choose to file in Chapter 7 because their debts are mainly unsecured consumer debts like credit cards, many choose to file in Chapter 13. Sometimes this is by choice and sometimes it’s necessity. For instance, many debtors’ incomes are above the median for Nevada, causing them […]