Bankruptcy trustees will target debtor’s income tax refunds. Tax refunds provide immediate cash available for distribution to creditors as opposed to other assets, such as cars, which have to be stored, noticed for sale, and liquidated at auction with commissions due. One of my bankruptcy clients is expecting a ...
The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law this summer by President Obama, introduced a number of financial reforms for big business as well as new protections designed to shield consumers against potential abuses. One of the act’s proposals, which has not yet been approved, ...
Dec
20
If a Chapter 7 debtor has a significant amount of non-exempt personal property over the exemption limits the debtor has to buy back from the Chapter 7 trustee the non-exempt property. Non-exempt property subject to buy back includes automobiles and other types of personal property such as cash, stocks ...
With news of health care rulings and the debate over extension of tax cuts, it may be unsurprising that there’s been less reporting in the media about a recent report from the Congressional Oversight Panel on HAMP (Home Affordable Modification Program), the Obama administration’s program designed to help Americans ...
According to R3`s quarterly personal debt tracker, more than 4 million (an estimated 4,258,737) people fear they`ll be made redundant. The insolvency trade body found that those aged between 25 and 34 are the most worried about their job, with 16% `expressing a concern`. Since the ...