A is for Assets
SCHEDULES
A debtor fills out the bankruptcy paperwork and forms when filing a bankruptcy case. These forms are the Bankruptcy Schedules. Bankruptcy schedules list all of the assets a debtor owns. These...
Bankruptcy – A is for Assets
Tax returns – How to order tax returns from the IRS for your bankruptcy case
When you file a bankruptcy case, you have to submit the last 4 years of IRS tax returns to the trustee.
Do you save your old returns? If so, good. Experts say...
Continuing bankruptcy education this Fall at the American Bankruptcy Institute Chicago Consumer Conference
This fall, local bankruptcy attorney Terry Leeders will be attending this years American Bankruptcy Institute's 7th Annual Chicago Consumer Bankruptcy Conference.
Sessions will include discussion on the proposed National Chapter 13...
N is for a no asset report in bankruptcy
This is the holy grail in bankruptcy, what every chapter seven debtor wants.
A no asset report by the standing bankruptcy trustee means there are no assets to administer in the bankruptcy case for the benefit of creditors. It's...
Tax refunds in Illinois bankruptcy cases
As 2010 winds to a close, we hope you are enjoying your holiday season and we wish you the best for the New Year. Tax refund time will be approaching soon, so this post includes a few tips to help your bankruptcy case go smoothly in the new...
Bankruptcy Audit’s suspended
This is a bit of interesting news about the random audits performed by the Department of Justice. Previously 1 in 200 cases was audited for accuracy. These audits consisted of independent review of paystubs, tax...
More Bankruptcy Q&A
Here is another rapid fire list of Q & A from bankruptcy questions I have received recently.If you have a specific question, feel free to contact me and I'll be happy to review your situation with you. Thanks
Subject: What does...
Bankruptcy Questions and answers
Here is an updated bankruptcy question and answer session. As you can see there are many bankruptcy issues that can sway a case one way or another. Hold tight, here we go.Chapter 7 and Lump sum SSDI payment...
Tax refunds and bankruptcy
I have received several emails from clients filing for Chapter 7 that are concerned about their tax refunds, and whether the chapter 7 bankruptcy trustee will want to take it or not.
While the tax refund is an asset, you should schedule...