http://www.personal-bankruptcy-information.com Getting Rid of Debts Wed, 10 Mar 2010 02:50:15 +0000 http://backend.userland.com/rss092 en 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 ... http://www.personal-bankruptcy-information.com/2010/03/intention-bankruptcy/ 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 ... http://www.personal-bankruptcy-information.com/2010/03/please-do-not-lose-in-the-failure-of-the-tax-refund/ Here is how the business works. The agency gets a list of debtors and amounts electronically from the creditor. Often / usually, with small consumer collections, they get no backup proof of the debt. Depending on the agency, it either goes into an automatic mailing process (which sends out letters until the collection goal ... http://www.personal-bankruptcy-information.com/2010/02/how-does-the-collection-for-businesses/ I am representing a Plaintiff in an action to collect on a breached promissory note. This past Monday, I received D’s Answer and I began drafting my motion for SJ. Today, D’s counsel filed a “Suggestion of Bankruptcy,” stating that D had filed for voluntary Chapter 13 in bankruptcy court last week. ... http://www.personal-bankruptcy-information.com/2010/02/the-case-presented-in-the-chapter-13/ 11 USC 548(a)(1)(B). It is 90 days for voidable preference transfers (11 USC 547), but 2 years from petition date for voiding fraudulent transfers under Sec. 548. It would be fraudulent if the transfer was for less than reasonably equivalent value *and* aunt was insolvent at time of transfer or became insolvent because of the ... http://www.personal-bankruptcy-information.com/2010/02/fraudulent-transfer-in-bankruptcy/ Something that has changed since 1999, is that there is a limit to the effect of the stay with serial filings. If it is the second filing in a year, the stay expires after 30 days, unless the debtor successfully moves to extend the stay (I've seen these be ... http://www.personal-bankruptcy-information.com/2010/02/automatic-stay-for-multiple-chapter-13-filings/ It depends on what your credit was like before. Usually bankruptcy will have a good effect on credit as it cuts off the ongoing problems associated with slow and non-payment. It provides a fresh start. After two years the bankrupt debtor should be in a much better position with the CRAs than before they ... http://www.personal-bankruptcy-information.com/2010/02/bankruptcy-effect-my-credit-score/ For the last several weeks LTD Financial Services and United Recovery Systems have been running ads in the Houston Chronicle for Collectors.  While this is no big surprise what with the economy like it is, it is surprising to see them admit to some of the benefits they offer:  “great bonus program, ... http://www.personal-bankruptcy-information.com/2010/02/to-collect-money-from-you-in-a-contest-for-collectors-of-construction-join-the-consumer/ Former soldier has a past PX bill now in collection. It’s general unsecured debt. Apart from the right to offset tax refunds, who cares if it’s government debt (it is, by the way – so yes, they can offset tax refunds). Govt debt does no make it priority or ... http://www.personal-bankruptcy-information.com/2010/02/if-my-failure-i-army/ Debtor is listed as custodian for her children’s UTMA savings account. The bank in which these accounts are held also has a mortgage (2nd) on the debtor’s house. Debtor has already opened a new checking account with another bank in anticipation of a Chap. 7 filing. The accounts ... http://www.personal-bankruptcy-information.com/2010/01/bankruptcy-bank-account/