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What are the Defining Characteristics of Chapter 13 Bankruptcy?

Do you know what the difference is between chapter 13, chapter, 11, chapter 7, and all other types of bankruptcy? Unless you are a legal expert, probably not. If you are facing the possibility of filing for bankruptcy, however, it is imperative that you understand the different classifications so you file for the correct chapter. […]

Nebraska Bankruptcy Exemption Update | 2 New Developments

An Update on the “Tool of the Trade” Exemption in Nebraska I recently posted a blog that discussed lien avoidance and the “tool of the trade” exemption in Nebraska.  The “tool of the trade” exemption was under fire after a local bankruptcy Judge ruled that a vehicle was no longer protected under the exemption if […]

Olympic Athletes and Bankruptcy? Even Champions Face Financial Defeat

  As the Winter Olympics open in Sochi, it is easy to be distracted by all the pomp and circumstance and forget the price that the athletes and their families must pay to become Olympic contenders.  Although some countries provide training, living quarters and expenses to their Olympic athletes, the United States does not do so.  […]

Top 5 Things You Should Know Before Filing Bankruptcy

What do you know about filing for bankruptcy? Perhaps you’ve heard the word before on the news, or maybe even had friends who filed bankruptcy, but what do you actually know about bankruptcy?  More importantly, if you are considering filing bankruptcy, what things should you know? Well, obviously, bankruptcy law is complex and one short […]

Will bankruptcy discharge an overpayment of unemployment funds?

Is an overpayment of unemployment compensation dischargeable in bankruptcy? Maybe.  I say “maybe,” because technically, an overpayment of unemployment benefits is automatically discharged in bankruptcy unless the state objects to the discharge of that particular debt.  If you live in Nebraska, you can surely expect that the Nebraska Department of Labor will object to the discharge […]

Better Bankruptcy Exemptions proposed for Nebraska in 2014

What are bankruptcy exemptions and why are they important? Bankruptcy exemptions are extremely important to anyone thinking about filing bankruptcy with equity in their assets.  They are you financial “shield” and are what protect your stuff.  For example, can you keep your car and furniture if you file bankruptcy?  Will you be able to keep your […]

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