Life goes on after Bankruptcy Probably the most satisfying part of my job as an Omaha bankruptcy attorney is seeing the stress, anxiety and overall sense of gloom and doom lifted from my clients’ lives. Yes, it really will be OK! How do I know? Because I have witnessed thousands of clients who have filed…
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…
In the beginning, Omaha bankruptcy attorneys used typewriters Not so many years ago, when George H.W. Bush was still president, most bankruptcy attorneys in Omaha used typewriters and a lot of carbon paper to prepare bankruptcy petitions. The year was 1989 when I prepared my first bankruptcy petition. I remember it clearly because I had…
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…
Yes, it does. Read on. Your Omaha Chapter 13 bankruptcy attorney selection makes a HUGE difference in the ultimate outcome of your case. Experience Makes a Difference It takes years of actual experience in the trenches of the Chapter 13 bankruptcy world to have an understanding of what is going on. It’s just one of those…
The truth is that more than a few bankruptcy hearings in Omaha, Nebraska don’t go well for the person or couple filing bankruptcy. But, it doesn’t have to be that way. When honesty and a careful attention to detail are combined, you have very little, if anything, to worry about. 1. What you don’t know…
There are just so many little known facts about bankruptcy that, if better known, could really help people suffering from financial problems. I’ve compiled a quick list of topics that many of my clients were surprised to learn: 1. Can taxes be discharged in bankruptcy? Answer: Yes, sometimes. The first rule is that you can…
Why do people need to file bankruptcy and what causes it? Answer: Because we need to have a future and we are human. Bankruptcy is about letting bygones be bygones and cutting your losses in order to create a more stable foundation for the future. Whether unintentional or not, humans are not perfect and we…
Not everyone with financial problems should file a bankruptcy. I say this as an Omaha Bankruptcy Lawyer. The truth is that bankruptcy is not a very good option for many people. By my unscientific poll, based on meeting with thousands of people and having practiced Chapter 7 and Chapter 13 bankruptcy law in Omaha since…
Yes, it’s true. A Chapter 13 bankruptcy will STOP A FORECLOSURE SALE. Chapter 13 bankruptcy is the Swiss army knife of the bankruptcy world. Although it seems kind of weird to get excited about the power of a Chapter 13 bankruptcy, when I started my career as an Omaha bankruptcy attorney in 1989, I was…
So, you want to find a Cheap Bankruptcy Lawyer in Omaha, Nebraska? Ok, let’s talk about that. If you are like me, you’re really skeptical about advertisements, infomercials, and smooth sales pitches. Of course, I love a good deal too and am entertained by these ads….because they are so ridiculous. Within the last few weeks,…
The attorneys at John Turco Law Office are sympathetic to the plight of many Nebraskans and Iowans who could desperately utilize the fresh start of bankruptcy, yet feel stuck in limbo due to the expense to file. According to a new CNN Money article, there is a large segment of the population that will need…