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Is Tax Withholding the Way to Balance Your Budget?

Jul 02, 2015 By: Mike Cibik

In the last week or so I’ve had no fewer than three clients tell me that they changed their payroll tax withholding to claim the maximum deductions because it was the “only way to pay the bills.” I’ve seen people do that, and tried to help them fix the consequences, for many years, but lately…

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credit-card-out-of-bankruptcy

Can you keep a credit card out of bankruptcy?

Jun 26, 2015 By: Mike Cibik

The Bankruptcy Code requires a debtor to list all creditors in his bankruptcy schedules. However, a “creditor” is typically defined as someone to whom the debtor owes money. Specifically, 11 U.S.C. § 101(10)(a) defines a creditor as an “entity that has a claim against the debtor that arose at the time of or before the…

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unknown-assets

If you don’t have information about an asset, can you just put down “unknown”?

Jun 17, 2015 By: Mike Cibik

The short answer is that you can file your bankruptcy case without all your information, meaning it is possible to do it, however I don’t recommend it under most circumstances. First and foremost, filing bankruptcy without having all the information you need could get you into a lot of trouble or complicate your case, depending…

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Do both you and your spouse have to file for bankruptcy?

Jun 11, 2015 By: Mike Cibik

In cases where both a husband and wife have a lot of debt, either individually or jointly, it may make sense and save money for both spouses to file a joint bankruptcy case… but it is never a requirement.

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chapter-13-discharge-court-order

How to Get Your Chapter 13 Discharge Court Order

Jun 02, 2015 By: Mike Cibik

When you filed your Chapter 13 bankruptcy five years ago, the goal was to complete the plan and get a discharge.  The “discharge” is the legal determination that all of your unsecured debts that remain after the plan are gone.  The collection company or bill collector can no longer bother you or seek payment for…

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personal-property-on-bankruptcy-schedules

How to Value Personal Property on your Bankruptcy Schedules

May 26, 2015 By: Mike Cibik

Anyone filing bankruptcy must value their personal property on their schedules, including their clothing, furniture, books and pictures, and other assorted knickknacks. Schedule “B” has categories for all these things and everyone has them, so everyone must list and value them. But how do you do this? We get many calls from people flummoxed by…

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