FAQ: General

I’m thinking of getting a divorce, but I also have to consider bankruptcy. Does it matter when I file the bankruptcy relative to my divorce case?

Yes, the timing of the filing of the bankruptcy can be critical, especially as it pertains to the family home. The short answer is that bankruptcy before divorce is usually, though not always, preferred. For more in depth information, please take a look at my interview for The Coover Law Firm at https://www.cooverlaw.com/bankruptcy-after-divorce.

Why do Chapter 11 cases get converted to Chapter 7?

Chapter 11 is a procedure for businesses and individuals with sophisticated financial situations. Sometimes companies and individuals are losing money and they’re losing value in their assets and that’s at the expense of creditors. When that happens a bankruptcy court will say, no you don’t have the right to continue to reorganize at the expense […]

We’re Living Paycheck To Paycheck. Will Bankruptcy Help Me?

If you’re struggling to make it from paycheck to paycheck because you’re paying credit card bills, medical bills, very old taxes or other claims that could be discharged in bankruptcy, or if your wages are being garnished from a judgment, then getting out from under those debts in a Chapter 7 or Chapter 13 bankruptcy […]

Do I Have To Pay Tax When A Creditor Writes Off My Debt?

When a creditor writes off or writes down your debt, they frequently tell the IRS that you’ve received income for the amount written off. Called “discharge of indebtedness” income it’s a terrible trap for debtors/taxpayers because under the Internal Revenue Code this income can be taxed. There are two exceptions worth thinking about: First, if […]


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