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John T. Turco & Associates PC, LLO

Omaha’s Premier Bankruptcy Law Firm

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  • Home
  • About
    • Meet Our Bankruptcy Lawyers
    • Client Reviews
  • Bankruptcy & Debt Relief
    • Chapter 7 Bankruptcy
    • Chapter 11 Bankruptcy
    • Chapter 13 Bankruptcy
    • Small Business Bankruptcy
    • Bankruptcy and Divorce
    • Car Loans and Repossessions
    • Credit Cards and Personal Loans
    • Foreclosure Assistance
    • Gambling Debt
    • Lawsuits and Garnishments
    • Liability Claims and Lawsuits
    • Medical Bankruptcies
    • Student Loan Debt Relief
    • Unemployment and Disability
    • Unpaid Taxes
  • Bankruptcy 101
    • Understanding Bankruptcy
    • What Type of Bankruptcy Do I Qualify For?
    • How to File for Bankruptcy
    • Life After Bankruptcy
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    • Credit Reporting Practices
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The Bankruptcy Blog

Road With Directional Signs

Debt Settlement vs. Bankruptcy

March 23, 2021 //  by John Turco

A lot has been written about the virtues and benefits of debt settlement vs. bankruptcy to deal with unmanageable debt.  As a bankruptcy attorney serving clients in Omaha, Nebraska for 31 years, I’ve participated in helping lots of people permanently fix their debt problems. I know …

Stacked Coins

How Much Does it Cost to File Bankruptcy in Omaha, Nebraska?

March 16, 2021 //  by John Turco

In 2021, for the average person or couple filing a Chapter 7 bankruptcy in Omaha, Nebraska is around $1,750. On the lower end, the total cost may only be around $1,500 while a more involved case might be closer to $2,000 or perhaps a bit more.  These amounts only apply to relatively …

Boy-With-Magnifying-Glass

What is the Bankruptcy “Means Test”?

February 17, 2021 //  by John Turco

As a bankruptcy attorney in Omaha, I frequently get questions about the "Means Test" by people who have spent a considerable amount of time on the Internet.  I actually really enjoy these technical questions because we can jump right into the little nuances of the bankruptcy means …

Wrench-in-Suit-Pocket

Chapter 13 Bankruptcy: A Very Powerful Legal Tool

December 27, 2020 //  by John Turco

Most people, including attorneys, do not fully grasp the power of a Chapter 13 bankruptcy.  It is quite amazing how so many problems can be handled with such bankruptcy.  Nothing else even comes close; not a Chapter 7 bankruptcy nor a Chapter 11 proceeding. The reason a Chapter 13 …

Foreclosure-Home-for-Sale-Sign

What is the Foreclosure Process in Nebraska?

November 27, 2020 //  by John Turco

For better or worse, Nebraska allows mortgage companies, banks, and other lien holders to foreclose on real property without a court proceeding.  The authority that provides for non-judicial "mortgage" loans is found at Neb. Rev. St. § 76-1018 et seq. and is commonly referred to as …

Stacked Coins

How Can I Afford Bankruptcy if I’m Broke?

November 5, 2020 //  by John Turco

Bankruptcy is affordable and offers lasting protection if carefully planned. It's the classic Chicken and the Egg problem.  I need to file for bankruptcy but I can't afford to file.  It's just too expensive.  I need a cheap and affordable option. Chapter 13 is sometimes the best …

Busines-Man-With-Wall-of-Equations

Business Bankruptcy Options in Omaha

August 4, 2020 //  by John Turco//  Leave a Comment

What is Business Bankruptcy? Business bankruptcy is a topic frequently misunderstood.  Sometimes, a corporate bankruptcy filing is what is meant.  In other words, the corporation itself files bankruptcy, not the individuals that own the corporation.  Corporations may generally file a …

Ripped Cardboard Box

Looking for a Cheap Bankruptcy Lawyer? Do Your Research!

July 9, 2020 //  by John Turco

If you need legal advice concerning financial problems and specifically with possibly filing bankruptcy, you naturally want to get it done as cheap (and as good) as possible.  In the world of Amazon, Facebook, and Google, many of us spend a lot of time doing research to find the …

Stressed Couple in Masks

Bankruptcy During Coronavirus – Prepare Now

June 23, 2020 //  by John Turco

Of course, even when times were good by comparison, many families and businesses were just barely making it month to month.  Now that a worldwide economic crisis is upon us, it is obvious that millions of people and businesses will not be able to economically survive with the …

Woman-in-Distress-Getting-Support

Bankruptcy, Anxiety, and What to Expect

October 6, 2017 //  by John Turco

Anxiety is the worst. I have it. You have it. We all have it to some degree or another and none of us like it too much. Ok, so anxiety has its good quality: it is meant to keep you alive. That is a perk. Thank you, Anxiety. I appreciate that. But let's face it, for something that is …

Bankruptcy Paperwork

5 Things Everyone Should Know Before Considering Chapter 7 Bankruptcy

September 12, 2017 //  by John Turco

Sometimes bankruptcy is a good decision. Sometimes it is not going to help you at all. Most of the time when a person thinks of bankruptcy they think of a Chapter 7 bankruptcy. This is, in a nutshell, when a trustee will essentially take a person's assets (if any) and use the proceeds …

Man-Leaping-Over-Word-Tax

Scary New Trend on Wiping Out Tax Debt in Bankruptcy

September 20, 2015 //  by John Turco

The 2005 Bankruptcy Act is causing trouble in certain discharge of income tax cases On October 17, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act ("BAPCPA") became fully effective as the law of the land.  This bankruptcy law update made enormous changes to people …

Sanctions-Written-on-Desk

Wells Fargo Gets Hammered!

January 20, 2015 //  by John Turco

Wells Fargo Bank violates discharge order in Omaha and gets nailed by Nebraska Bankruptcy Court for sanctions Wells Fargo Bank wouldn't just leave it alone.  Kevin and Amanda Hebner filed a bankruptcy in the United States Bankruptcy Court for the District of Nebraska on or about …

Student-Pulling-Student-Loan-Weight

Private Student Loans Barred by the Statute of Limitations

December 23, 2014 //  by John Turco

My last two blogs have focused on wiping out student loan debt.  The first blog, Wiping out Student Loans in Bankruptcy is Difficult discussed the general guidelines to obtain a discharge of a student loan in a bankruptcy proceeding.  In general, it is a very challenging and …

Student-Debt-Word-Cloud

Can You Wipe Out Private Student Loans in Bankruptcy?

December 22, 2014 //  by John Turco

A few weeks back, I blogged about how it was very difficult to wipe out a student loan in bankruptcy.  Everything mentioned in that blog still applies, including the fact that obtaining student loan debt relief in bankruptcy is very difficult. Now the question presented is whether …

Debt-Sign

Wiping Out Student Loans in Bankruptcy is Difficult

December 16, 2014 //  by John Turco

It's a very tough situation. Very, very tough. Getting rid of student loan debt in bankruptcy is a serious challenge but not necessarily impossible. In a decision filed on October 27, 2014, the Bankruptcy Appellate Panel for the 8th Circuit Court of Appeals denied a bankruptcy …

Inherited IRAs Are Not Exempt in Bankruptcy

September 4, 2014 //  by John Turco

On June 12, 2014, the United States Supreme Court ruled that an individual that owns an inherited IRA may not protect or exempt the same if they file bankruptcy.  In the case of Clark v. Rameker, Trustee, the Debtors in bankruptcy attempted to exempt approximately $300,000 from an …

Man-Holding-Miniature-House

Bankruptcy Homestead Exemption Updated in Nebraska

May 28, 2014 //  by John Turco

Nebraska Legislature expands protection of the homestead exemptions, but other bills fail to pass. Previously, certain individuals could not protect the equity in their house if they encountered financial trouble in Nebraska.   (Please see my earlier bankruptcy exemption blog from …

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This site is not intended to constitute legal advice, nor does it create an attorney-client relationship. The materials on this site are not guaranteed to be complete or current, and they should not be relied on as a substitute for legal advice. This site conveys general information related to bankruptcy law in Omaha, Papillion, Bellevue, Gretna, Council Bluffs and surrounding communities. If you are contemplating or involved in any matter in which legal advice or other expert assistance is required, the services of a competent professional should be sought. The determination of the need for legal services and the choice of a lawyer are extremely important decisions and should not be based solely upon advertisements or self-proclaimed expertise. This disclosure is required by rule of the Supreme Court of Iowa. Memberships and offices in legal fraternities and legal societies, technical and professional licenses, and memberships in scientific, technical and professional associations and societies of law or field of practice does not mean that a lawyer is a specialist or expert in a field of law, nor does it mean that such lawyer is necessarily any more expert or competent than any other lawyer. All potential clients are urged to make their own independent investigation and evaluation of any lawyer being considered. This notice is required by rule of the Supreme Court of Iowa.

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