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Home 2013 February

Income Taxes and Bankruptcy

Wasson and ThornhillFebruary 27, 2013Income Taxes

Two fun topics: taxes and bankruptcy! Seriously, they can be a very good combination.

Be Very Careful About Any Recently Filed and Dismissed Bankruptcy Case

Wasson and ThornhillFebruary 25, 2013Bankruptcy Law

How to avoid getting tripped up in a trap set by Congress supposedly to prevent bankruptcy abuse.

Reasons to File a Second Bankruptcy Even If Too Early to Get a Discharge of Your Debts

Wasson and ThornhillFebruary 22, 2013Discharge of Debts

You can file a new bankruptcy immediately after finishing another one, but why would you?

If You Filed Bankruptcy Just Before the 2005 “Reform,” When Exactly Can You File Again?

Wasson and ThornhillFebruary 20, 2013Bankruptcy Procedure

You can file a new case 8 years after filing before (so, now or very soon), or possibly only 6 or 4 or 2 years after, or maybe even with no delay.

If You Filed Bankruptcy Just Before the 2005 “Reform,” You Now Can, or Likely Soon Will Be Able to, File Again

Wasson and ThornhillFebruary 18, 2013Bankruptcy Procedure

After filing bankruptcy, you hope you never have to do that again. But it’s good to know that you can if you need to.

The Sharp Teeth of the Justice Department’s Lawsuit Against Standard & Poor’s for Its Fraudulent Credit Ratings

Wasson and ThornhillFebruary 15, 2013News

This financial fraud lawsuit seems more aggressive and may be more effective in finding fault that have been the previous multi-billion dollar efforts against other players in the financial crisis.

U.S. Dept. of Justice Sues World’s Largest Credit Rating Agency for Its Fraudulent Role in Enabling the Financial Crisis

Wasson and ThornhillFebruary 13, 2013Financial Crisis

Detailed 124-page Complaint lists specific ways that Standard & Poor’s intentionally inflated its ratings of mortgage-backed securities for its own financial gain, while lying about the objectivity of those ratings.

A Chapter 7 Can . . . Help You Walk Away from Your Business by Letting Your Trustee Sell Your Last Business Assets to Pay Your Special Debts

Wasson and ThornhillFebruary 11, 2013Business Bankruptcy

Give the bankruptcy trustee the headache of dealing with your final business assets

A Chapter 7 Can . . . Help You Walk Away from Your Business Yet Preserve Your Business Assets

Wasson and ThornhillFebruary 8, 2013Business Bankruptcy

Protect your business assets immediately with the “automatic stay” and permanently with property exemptions.

Disputes and Litigation Against Your Business Not Stopped by Your Personal Bankruptcy Filing

Wasson and ThornhillFebruary 6, 2013Business Bankruptcy

Careful: if your business is not a sole proprietorship, legal disputes against your business are not “stayed” by your personal bankruptcy’s “automatic stay.”

A Chapter 7 “Straight Bankruptcy” Can . . . Help You Avoid or Escape Litigation When Closing Down Your Business

Wasson and ThornhillFebruary 4, 2013Business Bankruptcy

Ongoing litigation, or the threat of it, against you and/or your business usually dies with your bankruptcy filing.

A Chapter 7 “Straight Bankruptcy” Can . . . Help You Deal with Secured Debts from Your Closed Business

Wasson and ThornhillFebruary 1, 2013Bankruptcy Advice

Chapter 7 puts you in the driver’s seat to either keep or surrender the collateral securing your business debts.

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