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 of the debt owed to them specifically. Other states…
What is a lien avoidance and why is it important? I recently passed my sixth year as a practicing bankruptcy attorney. Over these years my experience has impacted my advice to clients. One of my first memorable experiences involved a powerful tool under the bankruptcy code is known as “lien avoidance.” Basically, “lien avoidance” is…
For starters, do we even need to mention that bankruptcy isn’t for everyone? Let’s get this out of the way first: Nobody wants to file bankruptcy if they don’t have to. Quite the contrary is true based on my personal observation as a bankruptcy attorney in Omaha for the last 24 plus years. But, sometimes…
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…
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…
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…
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,…
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…
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…
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…
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…
Yes and maybe. One spouse is certainly able to file bankruptcy by themselves and they may or may not be jointly liable for their debts. Let’s break this down. Any individual person may file bankruptcy, even if they are married There are definitely times when one spouse should file bankruptcy alone and not involve the…
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….
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…
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…
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…
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 exemptions are designed to PROTECT your assets One of the most fundamental tasks that an Omaha bankruptcy attorney must quickly and effectively determine is what assets of his or her client are safe and protected if a bankruptcy is filed and which are not, if any. If you don’t get that analysis right, there…