If you are going to file a Chapter 7 or Chapter 13 bankruptcy, your attorney will ask you to provide numerous financial documents, including your tax returns. Many clients ask why it is necessary to provide both state and federal tax filings. Below are a few reasons: Your tax documents provide your lawyer with a […]

As a bankrupt individual, you probably think nobody would want to steal your identity. However, you are wrong! When you file a bankruptcy case, you must disclose a significant amount of confidential information. Thus, it is important to understand the protections that have been put in place to protect this personal information. It is also […]

Knowing when it is the best time to file for bankruptcy protection can be difficult. If you are living paycheck to paycheck and still struggling to pay all of your bills, it is time to assess your debt. While this may seem like an overwhelming task, there are numerous websites available that make it easier. […]

When you are considering filing for bankruptcy, it is important to understand the different chapters available to you. An experienced attorney like Michael A. Koplen can review your individual circumstances and fully explain your various options. For individuals, the three most commonly filed bankruptcies are: Chapter 7. In a Chapter 7 filing, you typically will […]

If you are considering filing for Chapter 7 or Chapter 13, it is important to understand all of the consequences. No two filings are the same, so it is important to discuss your individual financial situation with a knowledgeable lawyer before filing. For general guidance, below are a few of the pros and cons of […]

This may seem like a strange question, but it does happen. Several issues are raised when an individual dies during the middle of his or her bankruptcy case. Does the debtor’s estate receive the benefit of having the debts discharged? Is the bankruptcy case moot? Bankruptcy law does not outline a specific procedure that must […]

When a debtor files a Chapter 7 and a Chapter 13 case, one right after the other, it is commonly referred to as a “Chapter 20.” There is not an actual Chapter 20 of the Bankruptcy Code. So, when does a Chapter 20 occur? In a situation where your financial problems were not wholly resolved […]

If you are facing a collection lawsuit, it can be stressful and overwhelming. Filing a Chapter 7 or Chapter 13 may be a beneficial option to consider. When you file a bankruptcy case, the automatic stay goes into effect and stops all debt collection activity, including lawsuits where a monetary judgment is being sought against […]

It is common for individuals to be “upside down” on their car loan. This means that they owe more on their vehicle than what the car is worth. If this is your situation, a Chapter 7 bankruptcy may benefit you: In a Chapter 7 case, the debtor has three basic options for his/her car loan.  […]

Most debtors feel a huge sense of relief when they file a bankruptcy case and the debt collection efforts against them stop. Once a discharge order is obtained and you have a fresh start, your financial stress is lifted. However, what should you do if a debt collector contacts you after your discharge? This rarely […]

When an individual files for bankruptcy protection, the goal is typically to stop collection activity and to discharge their debt. The automatic stay goes into effect as soon as the petition is filed with the court and stops debt collector’s efforts. It is important to understand, however, that the law excludes certain proceedings from being […]

If you are an attorney, physician or other professional with a license and you are planning to file for Chapter 7 or Chapter 13, you may be wondering how your professional license will be treated in your case. You must list all of your assets and sources of income when you file a bankruptcy case, […]