You poured your heart, soul, and savings into your Nebraska business. Now, as the pressure mounts, a different kind of fear creeps in: not just losing the business but losing everything. Will your home, your car, and your personal savings be next? This is the agonizing question many small business owners ask when facing the…
You served our country with honor. When financial hardship strikes back home, you deserve a legal system that honors your service in return. At John Turco Law, we understand the stress, confusion, and frustration that financial problems can cause—especially for veterans and their families. For many Nebraska veterans, a critical piece of protection now exists…
In Nebraska and Iowa, the digital age is reshaping how residents manage their finances. Emerging technologies such as online gambling, social media, and app-based spending are changing consumer behavior in profound ways. While these innovations offer convenience and entertainment, they also pose new risks that can lead to financial instability and, in some cases, bankruptcy….
Facing financial hardship while dealing with a disability can be an overwhelming and challenging experience If you are a recipient of disability benefits and considering bankruptcy in these states, it’s essential to understand how these two aspects interact within bankruptcy law, both in Nebraska and Iowa. Understanding Disability Benefits In both Nebraska and Iowa, disability…
Before filing a Chapter 7 bankruptcy, you need to gather several documents for your attorney. These documents help your attorney analyze your situation and prepare a bankruptcy petition for you. This checklist provides an overview of the type of information needed. Paperwork Needed to File Chapter 7 Bankruptcy Income record A complete income record for…
An Automatic Stay in bankruptcy is the most powerful part of bankruptcy law. What does the word “Stay” mean in bankruptcy? In short, it means almost all efforts to collect a debt, including garnishments, foreclosures, repossessions, lawsuits, or anything else even remotely associated with an attempt to take away your property, MUST automatically stop until further…
All bankruptcy filings require that the Debtor and, if applicable, the Debtor’s spouse, attend a hearing about thirty days after the case is filed. In the bankruptcy world, this is commonly referred to as the “341 hearing” because such a hearing is required by federal law as is found at 11 U.S.C. § 341 (a)….
What is Debt Consolidation? Debt consolidation sounds great and is a good way to handle a minor to moderate cash flow problem. When too many monthly bills come due and it is a struggle to pay all of them on time, one of the first logical thoughts is to get one new, larger loan and pay…
Most chapter 13 debtors do not have to pay all of their debts in full through their bankruptcy. But each person’s situation is different. To determine how much you would have to pay depends on several factors, like the types of debts you have and how much money you make. The Minimum Amount Chapter 13…
If you owe child support, a bankruptcy will not change your obligation to pay the child support, and it will not discharge any delinquent amounts owed. That does not mean, however, that your other debts cannot be discharged. What is Priority Debt? Child support, or any other domestic support, is considered a “priority” debt in…
The definition, according to the Webster Dictionary, is “to end the service of (someone) in a formal or official way.” According to the Black’s Law Dictionary, a discharge is “any method by which a legal duty is extinguished; esp., the payment of a debt or satisfaction of some other obligation.” In Bankruptcy, a discharge is…
An emergency bankruptcy is just like it sounds – something financially urgent and of an emergency nature comes up and fast action needs to be done to stop it or very bad things could or will happen. While bankruptcy is ideally something that is well researched and contemplated before filing, that is not the way…
If you have ever experienced a wage garnishment or bank garnishment, you know how scary and panic-inducing it can be. You may already be living on a tight budget, but with funds now coming out of your paycheck or bank account, you may find yourself struggling to meet your and your family’s basic living expenses….
What are Bankruptcy Exemptions? Bankruptcy exemptions are laws that allow you to protect certain property when you file a bankruptcy. In a Chapter 7 bankruptcy, exemption laws determine what property you can keep. In a Chapter 13 bankruptcy, exemption laws may be a factor in determining how much you have to pay back to your…
Yes, you can file bankruptcy twice, however, if you want to receive a discharge of your debts in a subsequent bankruptcy, you must wait a certain period of time. How long you have to wait depends on the chapter of bankruptcy you previously filed and the chapter you want to file in the future. Timeframes…
The gig economy is something very unique, exciting, and freeing. It liberates regular people from the restrictions of corporate America and the hourly constraints of a “regular” job. In essence, the gig economy is a platform for a type of self-employment, be it big or small. It has the potential to unleash the American spirit…
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 how things play out in the legal system and…
If you are considering or preparing to file for Chapter 7 or 13 bankruptcy money is probably a concern. The cost and fees to file will depend on your situation and complexity of your case along with the type of bankruptcy. Below is a breakdown of the filing fees, attorney fees, and helpful information about…