Blog Posts in July, 2010
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?" »
Posted on Jul 2, 2010 By Infinity Law Group
Debt forgiveness occurs when one’s bankruptcy case is closed and upon foreclosure and short sale of debtor’s primary residence. If your home is underwater and given up in foreclosure or ...
Continue reading "The Tax Implications of a Bankruptcy Discharge in Boston" »
Posted on Jul 1, 2010 By Infinity Law Group
Uninsured medical expenses are often a reason to seek relief by a bankruptcy discharge of debt. If you are the guarantor for expenses that are incurred by your child or your parent, then you are ...
Continue reading "Can I discharge the medical expenses of my child?" »