There is a marriage penalty in bankruptcy law. Unmarried couples receive favored treatment, especially on the six-month income calculation called the Means Test.
A married debtor who lives with his or her spouse must list all gross income of their spouse on the income schedules. However, an unmarried debtor who lives with a partner must
One of these days I’m going to write a post on how shitty we treat married couples in this county. From a financial perspective, is it better to be married or to shack up? I’m going to write a list. There are some legal benefits to being married, but from what I see its more
It’s September in Nebraska. Labor Day is over. The kids are back in school. Footballs are in the air, especially in Nebraska where our beloved Cornhusker football team has abandoned tradition and is throwing the football everywhere. Yep, I hate it. I so miss power football.
Back to the topic at hand.
The authors of
We view negatively a person who files bankruptcy after running up credit cards debts to fund an extravagant lifestyle, but we are less judgmental about the unlucky person who incurs medical debt. Apparently the three major credit reporting bureaus agree and have decided to remove these debts from their credit reporting.
Forbes Magazine has a
The Covid/19 pandemic has changed how we work forever, and bankruptcy practice is no exception.
Just two years ago this is what we did:
Does the income of a live-in girlfriend of five years count towards household income? I read that question in an online chat discussion recently.
Here is the answer provided by a bankruptcy attorney: “No, her income will not be used to determine your household income unless you are attempting a modification and want to use
The experience of reading a Supreme Court opinion on bankruptcy law is like having a two-year-old in a China shop—you just want them out before they break more stuff.
The Supreme Court’s stumble through the City of Chicago v Fulton opinion is no exception to this rule.
The City of Chicago, itself an entity on
The Massachusetts Attorney General recently settled a major consumer fraud case against subprime auto lender Credit Acceptance Corporation.
The case is long and complicated, but the issue that caught my eye is the argument about the true purchase price of a vehicle.
For example, assume a dealer sells a vehicle for $10,000 and the buyer
Chapter 13 cases are three to five year payment plans. Creditors receive a monthly payment based on a debtor’s ability to pay, the type of debts they owe, and the amount of unprotected property they own.
But how does one make the payment? Who do you pay?
Chapter 13 payments are paid to the Chapter
May a person contribute to 401(k) retirement plan during a Nebraska Chapter 13 case?
THE RULE PRIOR TO 2005:
Prior to the Bankruptcy Reform Act of 2005 the answer was fairly simple: No. Contributions to a 401(k) retirement plan are voluntary, and prior to 2005 it was commonly known that contributions were not “necessary” to