Category archive for ‘Marriage and Bankruptcy’ 
Why you need to file bankruptcy. . .
by Jay Jump on 3/04/10 | 1 Comment(s)
You can villify me later. For now, I need you to read and get some perspective. Pay attention because we’re going to move fast.
You need to file for bankruptcy.
Let me say it again for those of you who are still shaking your head.
YOU NEED to file for bankruptcy!
There, I gave you a little emphasis to Read more>>
Jointly Owned Property May Be Subject To Forced Sale In Bankruptcy
by Richard Stokan on 2/15/10 | 1 Comment(s)
It is not unusual for debtors, specifically married debtors who file for bankruptcy protection separately, to co-own property. If you co-own property and intend to file for bankruptcy, you need to be aware that the trustee has the authority to force a sale of the entire asset including the co-owner(s) interest. See 11 USC 363(h). Read more>>
My Ex-Wife is About to File For Bankruptcy, Should I?
by Moderator on 1/12/10 | 1 Comment(s)
First of all, this a topic where a few areas of the law can intersect so it is wise to meet with an attorney to discuss your situation in greater detail. Having said that, a basic understanding of how joint debt will be affected when your ex-spouse files for bankruptcy is important. If you incurred credit card Read more>>
I’ve found a new job, will I still be able to file for bankruptcy?
by John O'Connor on 11/15/09 | 0 Comment(s)
I’ve found a new job, can I still file bankruptcy?
If you’ve read this blog with any frequency, you’ve undoubtedly seen numerous posts about bankruptcy reform and the means test. Indeed, much has been written about the means test, the vaunted gatekeeper to chapter 7 bankruptcy protection implemented by Congress as part of BACPA in 2005. Read more>>
My ex-husband is considering bankruptcy, how will I be affected?
by John O'Connor on 11/12/09 | 0 Comment(s)
I recently fielded a question from a prospective client concerned about how an ex-spouses bankruptcy would affect her. While married to her ex-husband, the prospective client incurred debt in both her and her husband’s name. The ex-husband notified her that he could no longer afford to make payments on a series of personal loans and Read more>>
In-Kind Exemptions and the ‘Super’ Schedule C
by John O'Connor on 10/15/09 | 1 Comment(s)
Under normal circumstances, a debtor claiming and exemption is limited by the statutory dollar amount that their jurisdiction imposes on the type of asset they are seeking to protect. For instance, North Carolina law allows a married couple filing a joint case to protect up to $37,000 of equity in their home. A couple who Read more>>
Love and Marriage (and Bankruptcy), Part 2: Who Has to Pay for What After Divorce?
by Steve Combs on 9/28/09 | 4 Comment(s)
Section 523(a)(5) of the Bankruptcy Code provides that a domestic support obligation is exempt from Discharge. What this means is that child support, alimony, and any debt classified as a “support obligation” will typically survive bankruptcy. What is less clear, though, is what happens to property settlements in bankruptcy. It is well known that regardless Read more>>
Love and Marriage (and Bankruptcy), Part 1: Are Both Spouses required to file?
by Steve Combs on 9/28/09 | 1 Comment(s)
As a former state court Magistrate who presided over nearly 18,000 family hearings and the former President of the Florida Association of General Magistrates and Child Support Hearing Officers, practicing Bankruptcy law has provided me a real change of pace. I am amazed, though, when I look at the interplay Read more>>
Emotions and Bankruptcy
by Jay Jump on 9/23/09 | 0 Comment(s)
Emotions and Bankruptcy – Jay S. Jump – Jump Law Group – Washington State – www.jumplawgroup.com
One of the statements I hear most often when doing an initial client interview is ‘I never thought I would end up here. I’m a complete failure.’ I cringe everytime I hear it because it isn’t true. Life is a Read more>>
Domestic Debts are Not Dischargeable
by Richard O'Connor on 9/14/09 | 0 Comment(s)
One of the goals of the Bankruptcy Abuse and Prevention Consumer Protection Act of 2005 (BAPCPA), was to eliminate fraud and loopholes used to discharge debts which should not be dischargeable. For example, under prior law, domestic debts that were not classified as support obligations, but were incurred in the course of a divorce or Read more>>
