Chapter 11, bad money might be a good choice
Recently, I’ve met with a number of clients with the same situation: In addition to their homes, they also own several pieces of investment property, some without any mortgages on them. As a result of the economy, they have had trouble with their tenants paying rent, and haven’t been able to sell the properties. The [...]
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Somewhere other than Oklahoma divorce filed during the bankruptcy
Client has contacted me regarding the filing of a Chapter 13 bankruptcy case. He was married in Oklahoma City. He and his wife divorced in the Dominican Republic. He has a Dominican “certificate of divorce.” He was referred to me by another attorney who thought he was still married in the US and thus could do a joint case. He and his wife live apart, are both in Oklahoma and are on good terms. They want to save a house from foreclosure. Both need a bankruptcy filed here in OKC and finances are tight, thus the their inquiry regarding a joint bankruptcy case.
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Evidence of medical means
I have a Dallas bankruptcy law client that needs to have major dental work done that she’s been putting off for 2 years. Now she has to have them done and she needs to have 6 implants and other work at a tune of $20k. She went in early May and started her treatment – out of pocket cost $1200. The treatment will continue for the next 5 months. She’s had ongoing problems with her teeth and gum most of her life and I can document this. She doesn’t pass the bankruptcy Means Test – unless I can include approximately $700 in medical expenses. IMHO, line 31 is looking at the medical expenses averaged over the six months. HOWEVER, this case is exactly what Congress meant by special circumstances on the bankruptcy means test – such as a serious medical condition. Get documents from the dentists that these procedures are medically necessary – show that there are no reasonable alternatives – and show how these additional expenses required by the special circumstance reduces DMI to less than the presumptive amount. Indicate these expenses on line 56. She is planning to pay for all of her dental expenses regardless of discharge because it’s a dentist she’s had a long standing relationship with and wants to continue to be under her care. Also, she would have to be current on her bills before the dentist performs the next phrase of the treatment.
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In the event of bankruptcy, child support
I'm working on a soon to be filed Chapter 7 bankruptcy. My Dallas client, single, had a consensual relationship from which a son was born. He is 10 yrs. old. They terminated the relation in a friendly manner and agreed verbally to his support, my client is ...
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Intention bankruptcy
Intention does not matter under the bankruptcy code. Under many
states’ laws a transfer to a relative for less than fair value creates
a rebuttable presumption of fraud. There is no such rebutting under
548, where the transfer for less than fair value while insolvent is
avoidable regardless of intent. The point is the transferee got [...]
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Please do not lose in the failure of the tax refund
It is tax time again, and it bears repeating that tax refunds can be taken in bankruptcy if you aren’t careful. Many people mistakenly think that if they haven’t filed the tax return before filing, it isn’t something that needs to be put into the bankruptcy petition. Both Chapter 7 bankruptcy and Chapter 13 bankruptcy filers [...]
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