Discharging Student Loans Causing Undue Hardship

Wasson and ThornhillStudent Loans

student studying

Photo by Green Chameleon on Unsplash. Discharging—permanently writing off—student loans requires showing undue hardship. Smart bankruptcy timing can make this easier to do. Discharging Student Loans in Bankruptcy It takes certain circumstances to be able to discharge student loans. Those circumstances can involve the right timing of your bankruptcy case. Bankruptcy discharges most debts. But it “does not discharge” you … Read More

Avoid Credit Card Allegations of Fraud

Wasson and ThornhillDischarge of Debts

credit card

Photo by rupixen.com on Unsplash. Making credit card purchases or cash advances a short time before filing bankruptcy can result in fraud allegations. Good timing can avoid this. Last week’s blog post introduced the so-called “presumptions of fraud” in bankruptcy. Today we get into dealing with this issue through smart bankruptcy timing. Bankruptcy Timing to Avoid the Presumption of Fraud … Read More

Avoid Presumptions of Fraud

Wasson and ThornhillDischarge of Debts

credit cards

Photo by Avery Evans on Unsplash. Presumptions of fraud make a credit card or cash advance debt harder to discharge—write off in bankruptcy. They’re usually easy to avoid. This blog post continues a series about the smart timing of your bankruptcy filing started back in July. (It’s been interrupted by urgent blog posts related to the pandemic—about unemployment benefits and … Read More

Eviction Moratorium Issues

Wasson and ThornhillFinancial Crisis

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Photo by Jan Antonin Kolar on Unsplash. The ongoing federal eviction moratorium is a helpful but limited tool. There are issues about how to qualify and its conditions and limitations. Our last three weekly blog posts have been about the new Agency Order temporarily stopping many residential evictions. This Order by the Centers for Disease Control and Prevention (“CDC”) went … Read More

The Eviction Moratorium and Chapter 13

Wasson and ThornhillFinancial Crisis

home

Photo by Patrick Perkins on Unsplash. The CDC’s recent temporary eviction moratorium does not forgive any unpaid rent. Chapter 13 lets you catch up on that back rent over time. Our blog post two weeks ago was about a recent federal order temporarily stopping certain residential evictions throughout the country. Check out that blog post to see who is covered … Read More

Chapter 7 and the Eviction Moratorium

Wasson and ThornhillFinancial Crisis

kids looking out window of family home

Photo by Kelly Sikkema on Unsplash. The CDC’s recent temporary eviction moratorium adds a new tool around which to plan your bankruptcy filing. Here are some Chapter 7 strategies. Last week’s blog post was about a new federal order temporarily stopping certain residential evictions throughout the country. Please see that blog post about which renters and rental properties are covered, … Read More

The New Eviction Moratorium

Wasson and ThornhillFinancial Crisis

hopeful rainbow over apartment

Photo by Vlad Zinculescu on Unsplash. The CDC imposed a new eviction moratorium over virtually all “residential property” in the United States. How do renters take advantage of it? On Friday, September 4, 2020, a federal order went into effect temporarily stopping certain residential evictions throughout the country. Issued by the Centers for Disease Control and Prevention (“CDC”), it’s titled … Read More

Bankruptcy’s Effect on an Income Tax Lien

Wasson and ThornhillTax Liens

government

Photo by Joshua Sukoff on Unsplash. An income tax lien creates challenges, so try to file bankruptcy to prevent one. Otherwise, bankruptcy can often help deal with a tax lien. This blog post continues a series about the smart timing of your bankruptcy filing. (It was interrupted by two blog posts updating federal unemployment benefits.) The last one in this … Read More

States’ Responses to $400/$300 Extended Unemployment Benefits

Wasson and ThornhillUnemployment Benefits

manacing cloud with hopeful rainbow

Photo by NOAA on Unsplash. Different states have responded differently to the proposed $400/$300 federal extended unemployment benefits. How about Kentucky and Indiana? Last week we explained the President’s Memorandum of August 8 which extended reduced federal unemployment benefits. The $600 weekly benefit had expired on July 31. The House of Representatives had previously passed a bill extending the $600 … Read More

Trump’s $400 Unemployment Benefits

Wasson and Thornhillpandemic, unemployment benefits

foreboding waters

Photo by Steve Halama on Unsplash. On August 8 Trump signed a Memorandum extending federal unemployment benefits, at $400 per week. Is this really happening? A Quick History of the Federal Unemployment Benefits The CARES Act’s $600 per week additional federal unemployment benefits expired on July 31, 2020. Section 2104 of the CARES Act.  Back in May the U.S. House … Read More

Timing to Avoid Tax Interest and Penalties

Wasson and ThornhillIncome Taxes

ouch hurts

Photo by Nick Fewings on Unsplash. How you time your bankruptcy case filing can affect whether, or how much, you pay the accrued, or future, income tax interest and penalties. This blog post is in a series about the importance of smart timing of your bankruptcy filing. Today we cover how good bankruptcy timing can prevent you having to pay … Read More

Timing Chapter 13 to Discharge Income Taxes

Wasson and ThornhillIncome Taxes

13

Photo by Bekky Bekks on Unsplash. You can discharge income taxes in a Chapter 13 “adjustment of debts” case as you can in a Chapter 7 “straight bankruptcy.” Here’s how it’s different. Our blog post of three weeks ago introduced the importance of timing your bankruptcy filing right. We gave a list of 15 examples where timing can make a … Read More

Timing to Write Off Income Taxes

Wasson and ThornhillIncome Taxes

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Photo by Manasvita S on Unsplash How do you time your bankruptcy case to write off income taxes? Usually you just need to wait long enough (but there may be other factors). Our blog post of two weeks ago introduced the importance of timing your bankruptcy filing right. We gave a list of 15 examples of timing considerations. Last week … Read More

Including New Debts in Bankruptcy

Wasson and ThornhillDischarge of Debts

person drowning

Photo by Ian Espinosa on Unsplash Bankruptcy only includes debts that you owe at the time you file your case, not new debts you incur after filing. So timing is crucial. In last week’s blog post we introduced how to time your bankruptcy filing. We gave a list of 15 examples of timing considerations. Today we start with the first … Read More

The Best Timing of Your Bankruptcy

Wasson and ThornhillBankruptcy Advice

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Photo by Monica Sauro on Unsplash There are many timing considerations when it comes to filing your bankruptcy case. Some can be real game changers. Here are 15 of them. Five weeks ago we started a series on why you should get legal advice from a bankruptcy lawyer. We’ve also been making a point of showing why it’s smart to … Read More