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Category Archives: Bankruptcy
IRS Form 1099C And Bankruptcy
You filed a bankruptcy and you have now received a 1099C from a creditor. It shows that the debt you had with that creditor is income. Do you have to pay taxes on the amount shown on the 1099C? The … Continue reading
Posted in Bankruptcy
Tagged Bankruptcy, Form 1099, Form 982, Internal Revenue Service, IRS, Kevin Gipson, new orleans bankruptcy attorney, new orleans bankruptcy lawyer
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Failure To Report Assets In Bankruptcy Can Result In Jail Time And Fines!
When you file a bankruptcy you must tell your attorney about all of your assets and debts. In fact, several of the documents that you sign when filing a bankruptcy advise that your bankruptcy can be dismissed without a discharge, … Continue reading
Posted in Bankruptcy
Tagged assets, Bankruptcy, Chapter 13, Chapter 7, exemption, fines, jail, Kevin Gipson, new orleans bankruptcy attorney, new orleans bankruptcy lawyer, prison, trustee
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Census Bureau Releases 2011 Bankruptcy Median Family Income Guidelines
The Census Bureau has released the latest Median Family Income guidelines. The Median Family Income is used as the first step in determining whether or not a person can file a Chapter 7 Bankruptcy. If the person’s median family income … Continue reading
Posted in Bankruptcy
Tagged Bankrutpcy, Census Bureau, Chapter 7, Kevin Gipson, Median Family Income, new orleans bankruptcy attorney, new orleans bankruptcy lawyer
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Can I Include The Loan On My Wrecked Car In Bankruptcy?
A collateral mortgage loan on a car can be discharged in a bankruptcy even if the car is wrecked. This is true of a car with mechanical problems as well. The reality is that for most people the days of … Continue reading
Posted in Bankruptcy
Tagged Chapter 13, Chapter 7 bankruptcy, collateral mortgage, Kevin Gipson, new orleans bankruptcy attorney, new orleans bankruptcy lawyer, secured debt
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Chapter 7 Bankruptcy: Can I Turn In My Car If Signed A Reaffirmation Agreement?
When you purchase a car and take out a loan to pay for the car, you are giving the lender a collateral mortgage on the car. A car loan is a secured debt in a Chapter 7 bankruptcy. In order … Continue reading
Posted in Bankruptcy
Tagged Chapter 7 bankruptcy, collateral mortgage, discharge, Kevin Gipson, new orleans bankruptcy attorney, reaffirmation agreement
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They Went Broke Too! Toni Braxton.
Grammy Award winning singer, Toni Braxton, has filed for bankruptcy. The filing occurred on September 30, 2010 and bears Docket Number 10-51909. The bankruptcy was filed in the Central District of California Bankruptcy Court located in Los Angeles. Ms. Braxton’s has filed … Continue reading
Posted in Bankruptcy
Tagged Bankruptcy, Chapter 7, Fresh Start, Kevin Gipson, new orleans bankruptcy attorney, new orleans bankruptcy lawyer, Toni Braxton
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How Often Can A Bankruptcy Be Filed?
There are limits on how often a bankruptcy can be filed. A Chapter 7 bankruptcy can be filed once every eight years. The date of filing of the original bankruptcy is used to determine the filing date for the new … Continue reading
Posted in Bankruptcy
Tagged Bankruptcy, Bankruptcy code, Chapter 13, Chapter 7, discharge, Kevin Gipson, new orleans bankruptcy attorney, new orleans bankruptcy lawyer, stay
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Terms You Hear At A Bankruptcy Creditor’s Meeting And What They Mean?
There are several steps in the process of filing for bankruptcy. One of the first steps after the filing is the “Meeting of Creditors”. The meeting, also called a Section 341(a) meeting is held by the “Trustee“. The meeting is … Continue reading
Posted in Bankruptcy
Tagged ADMINISTRATION, Bankruptcy, ENCUMBERED, exempt, Meeting of Creditors, PROPERTY, Section 341(a), Statement of Intentions, trustee, UNWORTHY
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What Is A Bankruptcy Estate?
A bankruptcy estate consists of all of the property that a debtor has at the time of the filing of his bankruptcy. The bankruptcy estate comes into existence when a Chapter 7 or Chapter 13 bankruptcy is filed. Some of the items … Continue reading
Posted in Bankruptcy
Tagged Bankruptcy estate, Chapter 7, Chapter13, exemption, Kevin Gipson, new orleans bankruptcy attorney, new orleans bankruptcy lawyer
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What Happens To My Lease When I File A Chapter 7 Bankruptcy?
When you file a Chapter 7 bankruptcy you have two basic options: You can assume the lease or you can reject the lease. If you decide to assume the lease, then you will still be responsible for honoring the terms of the lease. When … Continue reading
Posted in Bankruptcy
Tagged assume, Bankruptcy, Chapter 7, Kevin Gipson, lease, new orleans bankruptcy attorney, new orleans bankruptcy lawyer, reject
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