• July 21, 2021

    Social Security Overpayments and Bankruptcy

    Can You File Bankruptcy on a Social Security Overpayment? Can you discharge an overpayment of social security benefits in bankruptcy?  The answer to this question is generally “yes.”  You can discharge social security overpayments in bankruptcy.  Therefore, in many cases, it would be advisable to file for bankruptcy relief especially if there are also other […]

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  • July 18, 2021

    Are IRA Retirement Annuities Safe in Bankruptcy?

    Are IRA Retirement Annuities Safe in Bankruptcy? Generally, private annuities are not safe in bankruptcy.  In fact, they attract a lot of attention in bankruptcy cases because of their “non-exempt” status.   However, in Indiana and the majority of other states, private annuities held in a tax-exempt, tax-deferred retirement account such as an IRA can be […]

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  • July 7, 2021

    Monthly Child Tax Credit Payments

    Will Monthly Child Tax Credit Payments Cause Bankruptcy? The new monthly child tax credit payments will commence on July 15, 2021.   Now up to 88% of families can receive a monthly support payment from the government.  They will no longer need to wait until tax time to receive such payments.   How will this affect bankruptcy?  […]

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  • July 4, 2021

    Can I Put My Property in My Spouse’s...

    Can I Put My Property in My Spouse’s Name and File for Bankruptcy? You have learned that you may have too much property to file for Chapter 7 bankruptcy.  Your spouse does not have very much debt, and you are the only one who needs to file for bankruptcy.   Why not simply sell what you […]

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  • June 23, 2021

    Home Equity Loan Instead of Bankruptcy?

    Home equity loans can be a powerful tool for getting out of high-interest credit card debt. Should you get a home equity loan instead of filing for bankruptcy? Be careful and do your research before getting a home equity loan. They are not always a better deal than filing for Chapter 7 bankruptcy of Chapter […]

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  • June 9, 2021

    Debts Not Listed on Credit Reports in Indiana

    Certain debts are not listed on credit reports in Indiana. In fact, these debts will never show up usually in any credit search. Which type of debts do not show up on Indiana credit reports?  They usually are related to either medical bills or local service providers. Medical Bills Do Not Show Up on Credit […]

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  • May 26, 2021

    Bankruptcy Creates Zombie Mortgages

    Zombie mortgages are a new trend showing up in bankruptcy.  Zombie mortgages are second mortgages that a debtor mistakenly believes to have been written off after a Chapter 7 bankruptcy.   People mistakenly believe these mortgages are dead and long gone.  These second mortgages then revive as a “zombie” mortgage when collections start again several years […]

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  • May 12, 2021

    How is Household Size Determined in Bankruptcy?

    The household size in bankruptcy is determined by how many people are living with you.  In bankruptcy, the number in your household can be very important.  It can determine whether you are eligible for Chapter 7 bankruptcy.  If your household size is large, you can make much more money per year and still file Chapter […]

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  • April 7, 2021

    Spending Tax Refund on Car Before Bankruptcy

    Can I Use My Tax Refund to Buy a Car Before Bankruptcy? You can use your tax refund to buy a car before filing bankruptcy.  Having a paid-in-full car can make life much easier.  It can help you make your full recovery after the bankruptcy case is filed. Make Sure the Car Fits Within Your […]

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  • March 24, 2021

    Job Layoff and Bankruptcy

    Does Job Layoff lead to Bankruptcy? Job layoffs can be very unexpected.  They always have a large effect on a family’s budget.   Frequently job layoff and bankruptcy go hand in hand.  Debts can simply no longer be paid if the income loss from a layoff is too great.   You can, however, do a few simple […]

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