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How to Report Debtor's Income Tax Due When Not Withheld

Often as a person’s or couple’s financial situation experiences difficulty, the first thing they do to have more money available, is have their payroll department adjust their income tax withholding by adjusting the exemptions they claim, by filling out a new W-4 form, so that the money that would have been going toward the income [...]

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When Can You Cram Down a Car?

I’m often asked when a car can be crammed down in bankruptcy. First of all, what is a car cram down?When a debtor owes more on their car than it is worth, a cram down will “cram down” the amount that the debtor owes on the car, to be equivalent with what the car is actually [...]

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PayPal Accounts and Bankruptcy

We had a situation recently that ended badly for the debtor that you’ll want to be aware of, to prevent this from happening to others.At the 341 meeting, the trustee requested information from the debtor in regards to a PayPal transfer of $1,000 the day before the debtors bankruptcy petition was filed, that appeared on [...]

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