Archive for the ‘Life After Bankruptcy’ Category
This is a continuation from the Blog posting on 8/23/10
*Willful evasion of tax or fraudulent tax return
*Debts incurred by fraud or lying with the intent to deceive
*Secured debts where client wishes to retain the collateral, such as vehicles, home etc.
*Tax or judgment claims secured by lien on property owned by debtor.
*Unlisted debts. Debts not included on the bankruptcy schedules.
*Criminal fines or restitution or drunk driving injury claims
*Guaranteed Educational Loans
*Fine or penalty owed to governmental unit
*Damages arising from willful injury to person or property
*Spousal or child support, or ex-spouse attorney fees for obtaining support
*Income taxes less than three years old
*Income taxes over three years and tax return not filed more than two years ago
*Income taxes not assessed at least 240 days
*Payroll taxes and sales taxes
I am not allowed to have a checking account if I file bankruptcy. Wrong! There is no rule that stops you from keeping or opening a bank account. Most people keep the account that they had and continue to use it without interruption. Sometimes you may have to close an account prior to filing since the bank may be a creditor in the bankruptcy. In general, if you do not owe money to the bank your account is at, there is no need to close the account.
As of 2008, Fannie Mae and Freddie Mac owned or guaranteed about half or 56.8% of the U.S.’s $12 trillion mortgage market. Fannie Mae announced recently that it intends to fight back against homeowners who walk away from their property without making an effort to negotiate a workout with the mortgage servicing company. Fannie Mae has instructed servicing companies to identify those homeowners who do not attempt, in good faith, to negotiate a workout. Identifying these homeowners will allow Fannie Mae to pursue deficiency claims against them if the property ends up selling for less than what is owed. Fannie Mae also intends to bar the homeowners from obtaining a Fannie Mae guaranteed mortgage in the future for a period of seven years. This move by the mortgage giant is in reaction to a growing response by some homeowners who, fed up with crashing market values, strategically default on their mortgages and walk away from their property.
I will lose my job if I file bankruptcy. Not true! The bankrutpcy code prohibts an employer froam discriminating based on bankruptcy filing.
Can you not be hired if you fired bankruptcy? It may be true they can’t legally use your bankruptcy as a reason not to hire you, but they can certainly find someone BETTER who has not filed bankruptcy – and there is no law to prevent them from doing that. Bankruptcy carries with it a certain negative meaning to employers and there is no guaranteed protection and discrimination against you where this is concerned can be much more covert.