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Many debtors who filed bankruptcy and received a discharge also receive a 1099 cancellation of debt from creditors whose debt they discharged in bankruptcy in the form of a 1099-C or 1099-A. This means whether it’s your American Express debt or your first mortgage that you discharged in bankruptcy, you could potentially receive a 1099 …

I recently was approached by a former client who wanted to know how to deal with her former car financing company who was suing her for a deficiency balance after her car had been wrecked and she did not possess gap insurance. This question came as quite a surprise to me given that I did …

This article provides practical advice that can help debtors prepare for a 341 creditor meeting that is part of the bankruptcy process. Many debtors who are going through the bankruptcy process are intimidated by the idea of attending a 341 creditor meeting, or also called Trustee’s meeting. This isn’t surprising because the 341 creditor meeting …

When a Chapter 7 debtor does not reaffirm its mortgage in the bankruptcy (and usually you probably do not want to reaffirm real estate), the debt is discharged. This occasionally confuses debtors into thinking they must own their home free and clear. That is absolutely not the case. The easiest way to know that would …

Surprises in life are bound to happen, particularly over any 36-60 month period. That is why debtors are not always completely bound by their confirmed Chapter 13 repayment plan. The court understands that cars break down, air conditioning units stop working, medical expenses build up and debtors see their jobs reduced, or even eliminated, over …