posted on July 14, 2022 by
Pros & Cons of Filing for Bankruptcy
Things are viewed as Black or White these days. It’s either left or right, good or bad, hot or cold … and so on. But that’s not how it should be. Bankruptcy. Some people hear this word and immediately think it is bad. Yes, there are some negative aspects of it, but largely, the positives […]
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posted on July 5, 2022 by
Bankruptcy: What is a “non-asset” case?
With a Chapter 7 Bankruptcy, cases typically fall into one of two categories: Asset v. Non-Asset An asset case is one in which the trustee finds that there are (1) unexempt assets, or (2) preferential or fraudulent transfers that can be undone. In there situations, there will be funds available to be distributed to the […]
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posted on July 1, 2022 by
Bankruptcy: Will it Ruin my Credit?
One of the most common questions we are asked is “How bad will this bankruptcy hurt our credit?!?” And this question is valid. We leave in a society where virtually all home, car and even insurance decisions are affected by our credit score. So let’s unpack this question further. I am not going to lie […]
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posted on June 27, 2022 by
Bankruptcy Means Test: How Many People Are In My Home?
When filing for Bankruptcy, you have to file the Means Test with the Court. This is a document that determines whether you qualify for a Chapter 7 Bankruptcy, or if you are filing a Chapter 13 Bankruptcy, whether you are in a 3 year or 5 year commitment. For the Means Test, there is a […]
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posted on June 23, 2022 by
Bankruptcy: Do I have to take a course before I file?
A common question asked is whether or not a client needs to take a course before they can file for bankruptcy. The answer is yes. However, and this is a big however, this course is not something that needs to be taken in person. All of our clients here at Russell, Tighe & Alexander take […]
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posted on November 17, 2021 by Russell Law Firm, P.C.
Bankruptcy: My spouse doesn’t want to file, is that okay? Yes.
One spouse may file a bankruptcy with or without their spouse. How much the the non-filing spouse (NFS) is involved, depends on the circumstances.
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posted on by Russell Law Firm, P.C.
Means Test – Chapter 7 Qualification
To determine whether one passes the means test, and therefore qualifies for a Chapter 7, their household income must first be calculated. To calculate, you must take the previous 6 full months household gross income, and divide by 6 to average. (Do I have to include my spouse’s income if they are not filing?)
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posted on March 31, 2020 by Russell Law Firm, P.C.
File Your Bankruptcy Remotely, From Home
** We are able to handle all cases remotely and telephonically, so even if you
are home quarantined, we can still represent you fully throughout the bankruptcy process **This is some text!
posted on February 7, 2020 by Russell Law Firm, P.C.
IRS: Offer in Compromise
Offer In Compromise – Doubt as to Collectibility
There are three types of Offer In Compromise (OIC). The most commonly utilized OIC is the “Offer In Compromise, Doubt as to Collectibility,” or OIC-DATC.
posted on February 6, 2020 by Russell Law Firm, P.C.
Can Criminal Restitution Be Discharged in Bankruptcy?
Unfortunately no, criminal restitution cannot be discharged in bankruptcy.
However, the automatic stay will prevent any creditor or court from forcing a payment while your bankruptcy is pending. This could last up to 5 years.