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    Category: tax

    • BANKRUPTCY FRAUD: INVESTIGATION OF BANKRUPTCY FRAUD

      BANKRUPTCY FRAUD: INVESTIGATION OF BANKRUPTCY FRAUD

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      PART II According to the US Department of Justice, 10% of Bankruptcy filings contain some element of Bankruptcy Fraud. The US Trustee Office is one of the primary organs of the government that is responsible for the investigation of Bankruptcy Fraud. Most, if not all, of the Bankruptcy Courts in the United States will have…

    • BANKRUPTCY MEANS TEST

      BANKRUPTCY MEANS TEST

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      WHAT IS THE BANKRUPTCY MEANS TEST? The bankruptcy means test is a process to determine whether a debtor is eligible to file Chapter 7 bankruptcy, based upon his or her income. After the application of the means test, if one has significant disposable income remaining, the debtor may not be eligible to file Chapter 7…

    • Bankruptcy Chapter 7 Cost

      Bankruptcy Chapter 7 Cost

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      The cost of a Chapter 7 bankruptcy may differ depending upon the region or jurisdiction in which the debtor files Chapter 7 bankruptcy. This means the cost in terms of attorney fees may differ. The filing fees are the same within all of the jurisdictions in the United States. The filing fee for a Chapter…

    • The Roles Of The Chapter 13 Bankruptcy Trustee

      The Roles Of The Chapter 13 Bankruptcy Trustee

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      Going through bankruptcy is a very stressful and time-consuming situation. We at The Weller Legal Group are your helping hand in making the bankruptcy process easier and more efficient for you and your family. In this article we are going to discuss a popular question that many clients have, and that is what are the…

    • Should I File For Bankruptcy? – Reasons Why Bankruptcy May Be Right For You

      Should I File For Bankruptcy? – Reasons Why Bankruptcy May Be Right For You

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      The decision to file for bankruptcy is a tough one no matter how you cut it. Going through the bankruptcy process takes time and money. Once a petition is filed, a person’s entire financial situation is a matter of public record and open to others. The process will take an emotional toll on the filer…

    • THE “MEANS TEST” IN BANKRUPTCY (Chapter 7) – Part III

      THE “MEANS TEST” IN BANKRUPTCY (Chapter 7) – Part III

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      Part III of Three Related Articles [See related articles on this blog: The Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA), “Part I, Rationales”&“Part II, Changes in Bankruptcy Law”] After passage of the BAPCPA in 2005, anyone wanting to file for Chapter 7 bankruptcy relief was faced with the new requirement of having to pass…

    • BANKRUPTCY ABUSE PREVENTION & CONSUMER PROTECTION ACT OF 2005 (BAPCPA) Part II

      BANKRUPTCY ABUSE PREVENTION & CONSUMER PROTECTION ACT OF 2005 (BAPCPA) Part II

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      Part II – Changes in Bankruptcy Law [See related articles on this blog: The Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA), “Part I, Rationales” &Part III The “Means Test in Bankruptcy”] The enactment of the Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA) in April, 2005, wrought significant changes in the law embodied in…

    • THE BANKRUPTCY ABUSE PREVENTION & CONSUMER PROTECTION ACT OF 2005 (BAPCPA) Part I

      THE BANKRUPTCY ABUSE PREVENTION & CONSUMER PROTECTION ACT OF 2005 (BAPCPA) Part I

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      Part I–Rationales [See related articles on this blog: “The Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA), ‘Part II, Changes in Bankruptcy Law’, and “Part III, The Means Test in Bankruptcy”] The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was a “bankruptcy reform” measure passed by Congress during the fifth year of the Bush…

    • CHAPTER 11 BANKRUPTCY FILINGS – 770 AS OF MARCH, 2018 – HIGHEST IN 7 YEARS

      CHAPTER 11 BANKRUPTCY FILINGS – 770 AS OF MARCH, 2018 – HIGHEST IN 7 YEARS

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      *** UPDATE *** (See prior article on this blog – “Chapters in Bankruptcy, a Short Primer…”) The number of Chapter 11 (“reorganization” bankruptcy) filings has reached an all-time high since 2011. In that year, there were 789 Chapter 11 filings as the nation was still trying to recover from the “great recession” of 2008 –…

    • Dodd-Frank: Title XIV – Mortgage Reform and Anti-Predatory Lending Act

      Dodd-Frank: Title XIV – Mortgage Reform and Anti-Predatory Lending Act

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      Mortgage Reform and Anti-Predatory Lending Act, amendment to the Truth in Lending Act (TILA), was brought about as a reaction to the lending practices that had lead to the burst of the real estate bubble in 2008. Many mortgages prior to the burst of the real estate bubble included clauses that were unfavorable to those…

    • Chapter 7 Bankruptcy

      Chapter 7 Bankruptcy

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      Chapter 7 of the Bankruptcy Code allows debtors to have their debts forgiven through liquidation. During this process, nonexempt assets are sold and the proceeds are distributed to creditors. Unlike Chapter 13 bankruptcy, where a debtor retains their property and pays back a portion of their debts, Chapter 7 bankruptcy discharges remaining debts so the…

    • Chapters In Bankruptcy: A Short Primer

      Chapters In Bankruptcy: A Short Primer

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      RE: CHAPTER 7, 11, & 13 BANKRUPTCIES This article is intended to provide background information on, and will discuss three chapters of the United States Bankruptcy Code – Chapter 7 (“liquidation” or “discharge” bankruptcy); Chapter 11 (“reorganization” bankruptcy); and, Chapter 13 (“wage-earner” bankruptcy). Chapter 7 Bankruptcy: Chapter 7 of the United States Bankruptcy Code provides…