The Bankruptcy Blog

A Zero Down Chapter 7 Bankruptcy is Unethical & Illegal
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A Zero Down Chapter 7 Bankruptcy is Unethical & Illegal

Beware consumers!  While the economy is in very tough shape and the need to financially protect yourself has never been greater, the truth remains that “Zero Down” Chapter 7 cases are unethical and illegal.  While the vast majority of bankruptcy attorneys are ethical and follow the law, there are always exceptions and I just recently…

Tax Refunds and Bankruptcy: A Busy Time of the Year

Tax Refunds and Bankruptcy: A Busy Time of the Year

Now that the holidays are over there isn’t much to look forward to between now and the summer months. Sure, there’s Valentine’s Day (welcome back, House of Cards), St. Patrick’s Day (green beer!), and don’t forget to mark your calendars for March 1st, National Pig Day. But don’t overlook the importance of TAX DAY! Yes,…

Powerful Tool in Bankruptcy – Lien Avoidance

Powerful Tool in Bankruptcy – Lien Avoidance

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…

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…

Being Sued in Omaha, Nebraska? Join the crowd!

Being Sued in Omaha, Nebraska? Join the crowd!

As of March 5, 2013, over 4,700 lawsuits have been filed in the County Court of Douglas County, Nebraska for 2013 alone!  That averages out to be 104.4 new lawsuits every business day.  And, that’s just in Douglas County.  In Sarpy County, Nebraska , approximately 981 new lawsuits were filed in 2013 in the County Court…

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…

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…

Divorce Property Settlement Wiped Out in Bankruptcy

Divorce Property Settlement Wiped Out in Bankruptcy

Schultz versus Schultz.  Mr. and Mrs. Shultz were going through a divorce in the District Court of Buffalo County, Nebraska.  On August 30, 2011, the court enters an order that provides: To equalize the division of the property of the parties and allocation of the indebtedness to be paid, the court finds that a judgment…

Student Loan Bankruptcy Discharge Update

Student Loan Bankruptcy Discharge Update

On October 30, 2012, the United States Bankruptcy Appellate Panel for the Eighth Circuit issued a new opinion regarding the subject of discharging student loans in a bankruptcy proceeding.  In the matter of Shaffer v. U.S. Department of Education, No. 12-601 (8th Cir. BAP Oct. 30, 2012), the Court addressed whether or not Susan M….