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Certain Depts Not Erased In Chapter 7 & Chapter 13
Posted on Wednesday, September 8th, 2010 at 5:14 am.
The following debts are not erased in both Chapter 7 and Chapter 13. If you file for Chapter 7, these will remain when your case is over. If you file for Chapter 13, these debts will have to be paid in full during your plan. If they are not, the balance will remain at the end of your case:
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Debts you forget to list in your bankruptcy papers, unless the creditor learns of your bankruptcy case;Child support and alimony; Debts for personal injury or death caused by your intoxicated driving; Student loans from government organizations, unless it would be an undue hardship for you to repay; Fines and penalties imposed for violating the law, such as traffic tickets and criminal restitution, andRecent income tax debts and all other tax debts. This is a complicated area of the bankruptcy law and an attorney should be consulted -Call your Denver Colorado bankruptcy lawyers at the Mccune Law Firm- Aurora, Lakewood and Westminster-today for a free consultation today at 303-777-3733 our website is www.themccunelawfirm.com
A Fresh Start-Filing Chapter 7 & Chapter 13
Posted on Monday, September 6th, 2010 at 5:23 am.
Bankruptcy in the United States is a Federal Law and is a right granted in the US Constitution. If you would like a fresh start, filing bankruptcy can give that to you. McCune Law Firm works with you to help you through the steps of filing Chapter 7 or Chapter 13 bankruptcy. Contact us today for a FREE consultation at 303-777-3733 and visit our website for more information at www.themccunelawfirm.com
McCune Law Firm Specialists in Bankruptcy
Posted on Monday, August 30th, 2010 at 5:40 am.
If your considering filing for bankruptcy The McCune Law Firm of Denver specializes in consumer bankruptcy (helping individuals and small businesses). The two forms of bankruptcy relief available to consumers are Chapter 7 and Chapter 13. We are here to represent you and get you on your way to a stable financial state. Call us today at 303-777-3733 and visit our website for more information at www.themccunelawfirm,com
The McCune Law Firm 303-777-3733
Colorado Bankruptcy Lawyer-The McCune Law Firm
Posted on Monday, August 23rd, 2010 at 5:37 am.
Bankruptcy in the United States is a Federal Law and is a right granted in the US Constitution. The purpose of a Bankruptcy filing is to provide a person or business that is in financial trouble with a “Fresh Start.” The McCune Law Firm is here to help you through the bankruptcy process. It can be emotionally difficult. We do all we can to help you keep your dignity and move forward with a FRESH START. Whether you need to file Chapter 7 or Chapter 13, The McCune Law Firm, can help you through the process. Call us today at 303-777-3733 and visit our website at www.themccunelawfirm.com
Bankruptcy filings reach a 5 year high
Posted on Wednesday, August 18th, 2010 at 2:12 am.
Bankruptcy filings have reached the highest point since 2005. From July 2009 through the end of June 2010, there were more than 1.5 million bankruptcy filings in the United States. This is an increase of 20 percent for the same period of 2008-2009.
What is a lien strip?
Posted on Tuesday, August 3rd, 2010 at 7:11 pm.
Under Section 506 of the Bankruptcy Code a Chapter 13 debtor may do a “lien strip” in certain situations. A “lien strip” is basically a legal process under a bankruptcy where a second mortgage is removed from a debtor’s home. You get to keep your home, but your second mortgage goes away and the debt is discharged in the bankruptcy. It is a very beneficial option for people who have lost a lot of value in their home over the past several years. Here are a few quick requirements to be able to do a lien strip:
1. You can only strip a lien in a Chapter 13 case (not an option in Chapter 7).
2. You must be “upside down” on your first mortgage alone (see attached graph – in this example the value of the home is approximately $220,000 and $250,000 is owed on the first mortgage. In this case, the second mortgage of approximately $30,000 can be “stripped off”).
3. You must want to keep your home and be able to afford the first mortgage.
4. You need competent legal representation. This is complicated stuff and you need an experienced bankruptcy attorney to get it done right! Feel free to call us with any questions!
EXAMPLE OF LIEN STRIP SCENARIO:
Protection against employer discrimination
Posted on Friday, July 30th, 2010 at 5:16 pm.
Did you know that when you file for bankruptcy you are protected against discriminatory treatment from your current employer? The Bankruptcy Code protects you from being terminated by your current employer due to the bankruptcy filing. You are also protected from the government denying a license or other permit that is a condition to your employment. We are currently suing the United States government for illegally terminating a security guard who had a government contract job. When considering a bankruptcy attorney, ask yourself whether your attorney will fight for your rights and sue any party who illegally discriminates against you? We will!
Oral arguments today on plan length
Posted on Thursday, July 29th, 2010 at 9:47 pm.
Today we had oral arguments in front of US Bankruptcy District Court Judge Tallman. The issue is required plan length for certain debtors who are above the “median income” but have negative disposable income on the Mean’s Test. I am arguing to allow these debtors to be allowed a three year repayment plan and the Trustee is requiring a five year plan. We should know soon enough what the Court’s ruling is. When considering a bankruptcy attorney, ask yourself if your attorney will go to the mat for you and fight to represent your interests? We will and do everyday!!
Announcing new member of the firm!
Posted on Wednesday, July 21st, 2010 at 8:33 pm.
It gives me great pleasure to introduce our newest team member. Dallas has joined us recently… As you can see, he’s a bit lazy but we are hoping lots of training from Emmitt will help him reach full Ambassador status!
