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Divorce often puts tremendous strain on both spouse’s finances. One spouse is suddenly paying alimony, spousal or child support, while the other may be scrambling to find a job after staying home with the kids for years. Both have increased liv… Read More

With the current economic crisis many people are receiving 1099-C forms from their credit card companies, mortgage lenders and other lenders for forgiven debts. These forms are sent when a credit card debt is written off or a home is sold at a short… Read More

Since the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”) issues have come before this Court and most others across the country regarding the handling of Reaffirmation Agreements. Citing various r… Read More

Michigan’s new foreclosure law became effective on July 5, 2009. The purpose of the law is to slow the rate of foreclosure. The law requires mortgage companies to notify their borrowers prior to starting foreclosure and offer to them the right… Read More

The Means Test was part of the Bankruptcy Reform Act of 2005. Its purpose was to devise an income test to determine eligibility to file a Chapter 7 bankruptcy. The means test is a backward looking test which averages the Debtor’s income over th… Read More

Most people are astonished to discover that they can discharge certain tax liabilities in bankruptcy. The type of tax debts typically discharged in bankruptcy are income taxes and sales taxes. Payroll taxes or trust fund taxes are not dischargeable i… Read More

In preparing to file bankruptcy a client should be aware of how a bankruptcy case is reviewed by creditors and administered by the Trustee. The client should be advised of what assets are exempt and can be retained and what assets would be turned ove… Read More

Bankruptcy offers relief to homeowners who are financially strapped. Depending on your financial circumstances bankruptcy can provide assistance to stopping foreclosure, reducing payments, stripping off mortgage liens and reinstating delinquent mortg… Read More