Finance & Credit Trends to Avoid in 2018
At the beginning of the most recent century, both lenders and borrowers had developed many bad habits from a toxic combination of unrealistic optimism and immediate gratification. These bad habits led to a dramatic increase in bankruptcy for both individuals and corporations alike. In the years that followed, consumer lending became less available, and with […]
SALES, TRANSFERS AND DEBT REPAYMENT: WHAT YOUR BANKRUPTCY ATTORNEY NEEDS TO KNOW
Previous articles from Leiden & Leiden have addressed the importance of accurate disclosure of financial information in the process of filing for bankruptcy. This is necessary because a fundamental component of the bankruptcy process is a thorough disclosure of all of the debtor’s assets and income. However, simply disclosing what you presently own, and what […]
THE IMPORTANCE OF ACCURATE INCOME TAX RETURNS IN BANKRUPTCY
A fundamental component of any bankruptcy consultation is to review the state and federal income tax returns of a prospective client. Bankruptcy law requires that a debtor must be up to date in their income tax filings. Additionally, these returns are required to be submitted to the assigned Bankruptcy Trustee no later than seven days […]
WHAT IS A NON-DISCHARGEABLE DEBT, AND HOW CAN IT AFFECT MY BANKRUPTCY CASE?
When a consumer files a bankruptcy case, all of their debts must be identified and listed in their bankruptcy petition. The Bankruptcy Code requires that all of your creditors must be notified of the bankruptcy filing. However, just because a debt is listed in the bankruptcy petition does not mean that it will be discharged. […]
COMMON QUESTIONS THAT BANKRUPTCY ATTORNEYS HAVE TO ANSWER FOR POTENTIAL CLIENTS
The decision to file a bankruptcy case can be very difficult. Unfortunately, circumstances beyond a consumer’s control may not leave any other options. But while a prospective bankruptcy client may only have one immediate concern – such as a wage garnishment or house foreclosure – a bankruptcy attorney will need to perform a full inquiry […]
WESTINGHOUSE BANKRUPTCY: WHAT WILL IT MEAN FOR PLANT VOGTLE WORKERS?
Many are wondering how the impending Westinghouse bankruptcy will affect those businesses with contractual ties to the company. Westinghouse is the company in charge of designing two new nuclear reactors at Plant Vogtle in Burke County. Bankruptcy attorney Zane Leiden talks to Channel 12 and weighs in on the Westinghouse bankruptcy and its effect on […]
LIFE AFTER BANKRUPTCY: SEPARATING FACT FROM FICTION
Even though they may need relief, many people delay the filing of a personal bankruptcy because they are concerned about the effect it will have on their credit going forward. Unfortunately, they often ignore the damage that has already been done to their credit. Most of the time, their scores have already been damaged by […]
AVOIDING THE PAYDAY LOAN/TITLE PAWN TRAP
Unfortunately, many lower income consumers lack any type of savings or reserve to address an unforeseen expense or temporary reduction in come. An auto repair of $400 can be an intimidating obstacle to someone who does not have any money set aside, or available credit from a credit card, with which to pay for the […]
COSIGNERS AND BANKRUPTCY: WHAT YOU AND YOUR BANKRUPTCY ATTORNEY NEED TO KNOW
As part of the bankruptcy consultation process, bankruptcy attorneys will want to review all of your creditor information. This will include any debts that you may want to keep, such as a house loan or car loan. A consumer will be required to sign a verification, under oath, that they have identified all of their […]
CONSUMER BANKRUPTCY REQUIREMENTS THAT MADE SENSE
Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005. Many new requirements and restrictions were imposed with the goal of creating uniformity in the evaluation of bankruptcy cases. While there many requirements enacted that were needless and burdensome, there were also other requirements that made sense have added integrity and fairness to […]