File Your Federal Income Tax Returns, or no Chapter 7 Bankruptcy for You!
Chapter 7 Bankruptcy and Income Tax Returns Go Hand in Hand
Individuals contemplating filing a Chapter 7 bankruptcy case (also known as a liquidation bankruptcy) who haven't filed a federal income tax return for the past year may have problems. (The Internal Revenue Service website identifies the minimum income requirements that obligate the fil...
When Debtor’s Money is no Longer Debtor’s Money: Sometimes not even Bankruptcy Helps
When does a New Jersey resident lose all right to funds in a bank account levied by a judicial officer on behalf of a judgment creditor?
The answer: "When the Superior Court of New Jersey enters an order compelling the bank to turnover or surrender the funds." If a turnover order is entered before a bankruptcy petition is filed, the debtor ...
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Pre-Bankruptcy Judgments do not Attach to Property Acquired Post-Bankruptcy Discharge
Frequently we receive inquiries from prospective homeowners about clearing judgments discharged in their prior bankruptcy. The question typically arises after a contract of sale has been finalized and attorney review completed. A title company search reveals a prior judgment entered in the Superior Court of New Jersey, but which the client previous...
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“Not True,” Says The Plaintiff. But That’s What You Allege in Your Federal Court Complaint! The Concept of Binding Judicial Admissions
We live in a fast paced world of the digital age. Multiple drafts of legal documents fly back and forth in emails exchanged between attorneys and their clients. A client gives his attorney the basic facts and documents to commence a federal court action. The attorney and client review multiple drafts, but somewhere along the line a mistake is mad...