Author: Johnny Turco

Johnny Turco graduated magna cum laude from Creighton University School of Law. He is admitted to practice bankruptcy law in both state and federal courts in Nebraska.
How to Calculate Your Chapter 13 Bankruptcy Payment

How to Calculate Your Chapter 13 Bankruptcy Payment

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…

Child Support Debt and Bankruptcy

Child Support Debt and Bankruptcy

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…

What Is a Bankruptcy Discharge?

What Is a Bankruptcy Discharge?

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…

What You Need to Know About Bankruptcy Exemptions

What You Need to Know About 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 unsecured creditors. Most exemptions…

Can You File Bankruptcy Twice?

Can You File Bankruptcy Twice?

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…