Walden & Pfannenstiel, LLC: Wednesday’s Client – Wins… Aaron and Rachel Wilson’s Journey This young couple came to us struggling to make it on their current salaries, with a young child, a home loan and monthly credit card debt. In addition to their current debt situation, their old farm home was in serious need of [...]
Bankruptcy Fraud: A Federal Crime -- Even the intent to commit, may be punishable. One of the first signature lines I read along with my Clients: I have examined this petition, and I declare under penalty of perjury that the information provided is true and correct. … I understand making a false statement, concealing property, [...]
Scams Fraud The duped consumer. As of 2022 the Federal Trade Commission reported 2.4 MILLION fraud reports and losses of more than $8.8 billion. You Know Me! The number one scam category: imposter scams. These types of scams involve criminals pretending to be a trusted organization such as a bank, the police or a government [...]
Considering or have filed a Chapter 13 Bankruptcy case? Ignore This Educational Bankruptcy Post -- Are you a Chapter 7 filer with secured property that you would like to keep? This post is for you. For those of you that filed a Chapter 7 and have a security interest in property -- you may hear [...]
April 1, 2023 Median Income Levels for Kansas and Missouri Bankruptcy Filers The Means Test looks at your Median Income to determine for which Chapter of Bankruptcy you qualify: Chapter 7 or Chapter 13 Most individual debtors filing for bankruptcy relief are required to complete a version of Bankruptcy Form 122. On April 1, 2023, [...]
Why Did I Get A 1099 Post-Discharge? I filed a Chapter 7 / Chapter 13 Bankruptcy – Why am I receiving a: 1099-A vs 1099-C Cancelation of Debt When a creditor writes off your debt, it means the lender has written the account off as a loss and the account is closed to future charges. [...]
November 1, 2022 Median Income Levels for Kansas and Missouri Bankruptcy Filers The Means Test looks at your Median Income to determine for which Chapter of Bankruptcy you qualify: Chapter 7 or Chapter 13 In pre-COVID fashion, on November 1, 2022, the Median Income Levels will change once again. Typically, Median Income Levels are adjusted [...]
Can you purchase a home after a bankruptcy filing? Yes, sometimes it is even possible during a Chapter 13 case. How quickly you are able to purchase a home and qualify for a loan is up to the discretion of the lender and the work you put into building your credit. Is buying a home [...]
Bankruptcy Considered -- Why do people file bankruptcy? Top 5 Reasons Revealed: In several studies over the years as to why people file bankruptcy, five major reasons tend to be named repeatedly: Loss of Income This is not surprising. When paychecks stop, financial troubles start. In addition, it can mean a loss of health insurance, [...]
IRS provides penalty relief for certain 2019 and 2020 tax returns: To help struggling taxpayers affected by the COVID-19 pandemic, the Internal Revenue Service (IRS) issued Notice 2022-36, which provides penalty relief to most people and businesses who file certain 2019 or 2020 returns late. The IRS is working diligently to identify Chapter 7N, 7A, [...]
