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All Bankruptcy Roads Pass Through Chapter 5

By Cathy Moran, Esq. Filed Under: Before filing, Start Here

bankruptcy options

Regardless of the ultimate destination, all bankruptcy roads lead through Chapter 5. A few bankruptcy cases are derailed there. Because Chapter 5 provisions tell you what comes into the bankruptcy estate, what can be exempted, and what can be changed using Chapter 5. Sometimes the results from bankruptcy lawyers in Hyannis tell you that bankruptcy […]

Filed Under: Before filing, Start Here

Do You Know These Exceptions To Discharge Not In The Bankruptcy Code?

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice

Not all exceptions to discharge in bankruptcy are found in the Bankruptcy Code. Inconvenient, but true. The first two non-Code exceptions to discharge that I encountered in practice were HEAL loans, dischargeable only if denying the discharge would be “unconscionable.” (42 U.S.C. sec. 292f(g)); and a scholarship to attend a U.S. Military Academy.  Turns out […]

Filed Under: Bankruptcy Practice

What Goes Into The Liquidation Analysis

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice

bankruptcy liquidation analysis

The liquidation analysis is central to every form of consumer bankruptcy. Yet too many attorneys think the formula is Assets minus Secured Debts minus Exemptions = Distributable estate Not by a long shot. So let’s walk through the elements of a comprehensive liquidation analysis. You need it if you’re assessing the vulnerability of assets to […]

Filed Under: Bankruptcy Practice

Rescuing A Troubled Chapter 13: The Unseen Threat

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice, Chapter 13

chapter 13

We all get sucked in, at some time, to trying to rescue a Chapter 13 bankruptcy case gone bad. Dismiss and refile if often an appealing strategy. But, make sure that you don’t let a bad situation get worse. Get your arms around Bankruptcy Code ยง109(g). When only a do-over will do, don’t wait around. […]

Filed Under: Bankruptcy Practice, Chapter 13

What Bankruptcy Counsel Forgot

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice

How do you forget capital gains taxes? More easily than you would think, apparently. When I see the same  blunder twice in two months and the price tag to the client approaches $100,000, it’s time to write about it. It surfaced in two Chapter 11 cases for individuals where I have subbed upon conversion to […]

Filed Under: Bankruptcy Practice

Crushing Tax Change For Injured Consumers

By William Purdy Filed Under: Bankruptcy Practice, Opinionated, Tax

tax change damages

The “Tax Cut Act” actually increased the tax on consumer recoveries.  Under the new tax law,  most damage awards a consumer recovers stand to go, in large part, to the IRS. So even if you are successful in vindicating your legal rights, the expenses of getting the award aren’t deductible from the gross award. The […]

Filed Under: Bankruptcy Practice, Opinionated, Tax Tagged With: 2018

Delay Division of Community Property At Peril of Bankruptcy

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice

Put off the division of community property in a marital dissolution at your peril. Hesitate and you risk all of the community property being swept up in a bankruptcy by the other spouse. And you’ll have little control where community property assets fall. Community property is all in The threat begins with the bankruptcy law […]

Filed Under: Bankruptcy Practice

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