Blog Posts in 2010
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Posted on Dec 28, 2010 By Infinity Law Group
First of all, it is important to remember that once one files for bankruptcy, the automatic stay applies. If you are a creditor, this means that you will not be able to contact your ex-spouse in ...
Continue reading "What happens when my ex-spouse files for bankruptcy?" »
Posted on Dec 20, 2010 By Infinity Law Group
While you may use your 401(k) in order to pay back debt, it is not recommended. Your 401(k) is exempt from bankruptcy so therefore, if you file for bankruptcy you will be allowed to keep it. ...
Continue reading "Can I use my 401K in order to avoid bankruptcy?" »
Posted on Dec 1, 2010 By Infinity Law Group
When you file for bankruptcy, you must declare all your assets including any property owned in another country. There is no exception for income coming from a foreign source. The bankruptcy trustee ...
Continue reading "What happens to property I own in another country?" »
Posted on Nov 16, 2010 By Infinity Law Group
If you fall behind or fail to make payment for your repayment plan, the Trustee can move to dismiss your case. If this occurs, the debt you owe will no longer be reduced and you will not have the ...
Continue reading "What happens if I fail to pay the amount of my repayment plan?" »
Posted on Oct 28, 2010 By Infinity Law Group
28 USC Section 1408 says that a bankruptcy case should be filed where the debtor has lived/been located “for the one hundred and eighty days immediately preceding such commencement, or for a ...
Continue reading "Where do I file for bankruptcy if I haven't lived in the same state?" »
Posted on Oct 20, 2010 By Infinity Law Group
The Clerks Office offers many different services to bankruptcy judges, attorneys, and the public. The staff at the Clerk’s Office maintain bankruptcy papers related to your case, collect fees, ...
Continue reading "Can the Clerks Office Give Bankruptcy Legal Advice?" »
Posted on Oct 5, 2010 By Infinity Law Group
Yes, there are 3 ways in which a bankruptcy discharge can be revoked. First, a discharge can be revoked if it can be shown that the debtor obtained the discharge fraudulently and that the fraud was ...
Continue reading "Can a bankruptcy discharge be revoked?" »
Posted on Sep 22, 2010 By Infinity Law Group
Yes, in order to qualify for bankruptcy relief, a debtor must receive a briefing on credit counseling and budget analysis from an approved agency. Not all credit counselors are approved for bankruptcy ...
Continue reading "Do I have to take a debt counseling course?" »
Posted on Sep 21, 2010 By Infinity Law Group
The Federal Rules of Bankruptcy Procedure and the Local Bankruptcy Rules of the U.S. Bankruptcy Court, District of Massachusetts describe the procedures that debtors, creditors, other parties in ...
Continue reading "What are the Federal and Local Bankruptcy Rules?" »
Posted on Sep 20, 2010 By Infinity Law Group
Getting a divorce often results in financial problems for both parties involved. If the court has ordered you to pay your wife’s attorney fees, you will not be able to discharge that debt. In ...
Continue reading "Will I still have to pay for my divorce attorney if I file for bankruptcy?" »
Posted on Sep 17, 2010 By Infinity Law Group
A “Notice of Abandonment” is usually sent out by the Chapter 7 Trustee shortly after their bankruptcy case is filed. When a debtor receives a “Notice of Abandonment” from a ...
Continue reading "What is a "Notice of Abandonment"?" »
Posted on Sep 15, 2010 By Infinity Law Group
If you are in an extremely bad situation, you may have several different options. First of all, the law requires that those filing for bankruptcy attend credit counseling. Some counseling services ...
Continue reading "How can one file for bankruptcy when they have no money?" »
Posted on Sep 14, 2010 By Infinity Law Group
A retailer may file for bankruptcy and petition to honor gift cards. However, it may also file for bankruptcy and later, after bankruptcy proceedings have begun, it can petition the court to allow it ...
Continue reading "Can a company filing Chapter 11 stop honoring gift cards?" »
Posted on Aug 24, 2010 By Infinity Law Group
Yes, landlords are permitted to run credit checks on potential tenants and are permitted to turn down applications if you have a low credit score as a result of bankruptcy. This is because it is ...
Continue reading "Can a landlord turn down my rental application if I have filed for bankruptcy?" »
Posted on Aug 23, 2010 By Infinity Law Group
Typically, lenders will not want to loan money to anyone that they feel could not have the ability to pay the loan. When applying for a loan, you must answer “Yes” to the question, ...
Continue reading "Will I have a difficult time receiving loans if I file for bankruptcy?" »
Posted on Aug 19, 2010 By Infinity Law Group
A tenancy by the entirety is a property ownership where each spouse owns the entire estate. Therefore, neither spouse can deal with the property independently of the other. One advantage of this is ...
Continue reading "Will tenancy by the entirety protect my property?" »
Posted on Aug 18, 2010 By Infinity Law Group
No there is not a minimum amount of debt that you must owe in order to file for bankruptcy. However, it is important to make sure that you are confident that your financial situation is not a ...
Continue reading "Is there a minimum amount of debt I must owe in order to file for bankruptcy?" »
Posted on Aug 3, 2010 By Infinity Law Group
No, filing for bankruptcy would not authorize any utility company from shutting off your services. However, you would have to keep paying your utility bills. If you are unable to pay your bills, ...
Continue reading "Will bankruptcy effect my utility services?" »
Posted on Jul 28, 2010 By Infinity Law Group
Debt forgiveness occurs when your bankruptcy case is closed, upon foreclosure, or short sale of a primary residence. If your home is underwater and is given up in foreclosure or sold as a ...
Continue reading "Tax Implications of Debt Forgiveness" »
Posted on Jul 27, 2010 By Infinity Law Group
Bankruptcy is a federal proceeding and same-sex marriage is not recognized on a federal level (yet). Therefore, same-sex spouses cannot file joint bankruptcy petitions. One significant drawback to ...
Continue reading "Can same-sex spouses file for joint bankruptcy petitions?" »
Posted on Jul 15, 2010 By Infinity Law Group
When you file for bankruptcy, the “automatic stay” goes into effect immediately and halts nearly all collection attempts against the person filing for bankruptcy. Once your Chapter 7 or ...
Continue reading "What is the effect of bankruptcy on eviction proceedings?" »
Posted on Jul 14, 2010 By Infinity Law Group
Although transferring ownership to your spouse or child may sound like a good idea, you should be extremely careful before transferring real estate or other property just prior to filing for ...
Continue reading "Should I transfer real estate before filing for bankruptcy?" »
Posted on Jul 12, 2010 By Infinity Law Group
If you have what we categorize as a “no-asset” (means that the debtor has no money left over in the bankruptcy estate that the Trustee or creditor can claim) case in a Chapter- 7 ...
Continue reading "What Happens If I Left Out Listing Some Creditors During Bankruptcy?" »
Posted on Jul 9, 2010 By Infinity Law Group
Retirement accounts fall outside of bankruptcy in the Greater Boston Area. This means that the bankruptcy trustee cannot touch it for up to $1,050,000. Once some money is taken out however, then the ...
Continue reading "What Happens if I Take Money Out of My Retirement Account During Bankruptcy?" »
Posted on Jul 4, 2010 By Infinity Law Group
The ‘meeting of creditors’ is held in every Bankruptcy case. The debtor is required to attend this meeting and this is usually the only meeting or hearing that the debtor is required to ...
Continue reading "What is the meeting of creditors?" »
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