Bankruptcy Basics

Why Ignoring Your Debts Will Only Make it Worse

Why Ignoring Your Debts Will Only Make it Worse

Taking action is hard.  Sometimes, simply ignoring the growing pile of bills or avoiding the endless phone calls seems easier than facing what might be inside the envelope or who might be on the other end of the phone line.  But, merely ignoring debt problems won’t make them magically disappear.  In reality, ignoring unpaid bills…

How Do You I Get Rid of Medical Bills?

How Do You I Get Rid of Medical Bills?

Of all the trials the American people face, perhaps none is more troubling than the financial difficulties brought on by the rising costs of consumer goods and services such as health care. The state of the economy changes every day, which naturally results in fluctuating prices for certain products, but in recent years the concern…

Will I Lose My House if I File Bankruptcy in Nebraska?

Will I Lose My House if I File Bankruptcy in Nebraska?

Can I protect the equity in my house in Nebraska if I file bankruptcy? Normally, the answer is yes, up to $60,000. But, not everyone qualifies for this exemption. Nebraska Bankruptcy Homestead Exemption The bankruptcy homestead exemption law in Nebraska is geared toward protecting families and people 65 years of age or older. Thus, if…

Can Bankruptcy Help the Student Loan Crisis?

Can Bankruptcy Help the Student Loan Crisis?

Millions of Americans are facing a student loan debt crisis.  The young, in particular, have collectively been robbed and cheated of a bright economic future by crushing amounts of student loan balances.  Out of desperation for a solution, more and more people are wondering if bankruptcy could deal with this problem.  Unfortunately, in most cases,…

Do I Get to Keep My Inheritance if I File Bankruptcy?

Do I Get to Keep My Inheritance if I File Bankruptcy?

Few areas of consumer bankruptcy law cause more confusion and frustration than the issue of an inheritance.  Part of this reason is likely due to the fact that a loved one has recently died and this was their money and is was intended for me!  There is a natural and strong feeling of a bond between…

Do I Get to Keep My Tax Refund if I File Bankruptcy?

Do I Get to Keep My Tax Refund if I File Bankruptcy?

Every year, around the time that tax refunds start coming in, there are a lot of unnecessary tears shed at bankruptcy hearings in Omaha and Council Bluffs. Why? Because there is a limit on what can be protected under the exemption laws of every state. Nebraska and Iowa have different levels of protection. All tax…

I Declare Bankruptcy!!!  1 Easy Step

I Declare Bankruptcy!!! 1 Easy Step

Declare bankruptcy in one easy step! If you have every wondered what it meant to “Declare Bankruptcy,” this YouTube clip from The Office  will provide you with a unique perspective!  Well, if life could be so simple and easy as that!  Very funny stuff. Ok, how to I really declare bankruptcy in Omaha? It’s not that…

When Does Filing Bankruptcy Make Sense?

When Does Filing Bankruptcy Make Sense?

Should I file bankruptcy?  Is there any other way to settle my debts without filing bankruptcy?  What are the long term effects of bankruptcy?  Or, perhaps the question should be what are the effects of not filing bankruptcy if I know that it is near impossible to pay my creditors back? Bankruptcy should not be…

Critical Bankruptcy Information for People in the Omaha Area

Critical Bankruptcy Information for People in the Omaha Area

I can’t help it.  I can’t stand sloppy workmanship and being told less than the whole truth. And, I really dislike it when people aren’t nice, polite, kind and helpful to others, regardless of their position in life and their viewpoints. What does this have to do with Bankruptcy?  Well, everything, if you ask me….

Part III of Nebraska Bankruptcy Exemptions: The Wildcard

Part III of Nebraska Bankruptcy Exemptions: The Wildcard

Nebraska law provides a wildcard exemption for any personal property except wages.  Personal property is generally defined as anything that is not real estate or wages.  In Nebraska, each debtor in bankruptcy receives a $2,500 wildcard exemption that may be used to protect any personal property.  The specific language of the wildcard exemption is found…

Affordable Options for Filing Bankruptcy in Omaha

Affordable Options for Filing Bankruptcy in Omaha

2012 has been a very difficult financial year for many people in Omaha and nationwide and it seems to be getting worse.  Something is definitely not right with the economy and many good people are finding themselves facing bankruptcy for the first time.  This is a sad situation for our country and we can only…

Part II of Nebraska Bankruptcy Exemptions: An Introduction

Part II of Nebraska Bankruptcy Exemptions: An Introduction

An overview of the Nebraska Bankruptcy exemption scheme The foundation of determining which exemption laws apply in Nebraska with respect to a bankruptcy filing starts with Neb.Rev.St. § 25-15,105.  This section of the law reads as follows: The federal exemptions provided in 11 U.S.C. 522, subsection (d), are hereby rejected by the State of Nebraska. The State of…

Necessary Documents for Filing Bankruptcy in Omaha

Necessary Documents for Filing Bankruptcy in Omaha

Ok, so you have worried enough and struggled through the decision making process and now know that you need to file bankruptcy. You want to get this done; so what are the necessary steps? Bankruptcy attorneys in Omaha and elsewhere are required to make sure that the information on your bankruptcy petition is, to the…

Bankruptcy Can Help You Get Your Driver’s License Back

Bankruptcy Can Help You Get Your Driver’s License Back

If you have lost your driver’s license due to an accident and didn’t have insurance, filing bankruptcy can solve the problem. The bankruptcy discharge rules (statutes) are written so that generally EVERYTHING is wiped out or discharged UNLESS there is an exclusion specifically mentioned.  There are several exceptions to debts that are not discharged with…