Inheritance and Bankruptcy

If you inherit money from someone who dies within 180 days of the filing date of your Chapter 7 bankruptcy, that money becomes part of your bankruptcy estate. The inherited money is used to pay your creditors. This is true even if you have received a discharge and your Chapter 7 bankruptcy case has closed. For instance, if you file …

Don’t Forget To Remember Bankruptcy Details

The basic paperwork filed in a personal bankruptcy case includes a petition, a certificate showing completion of a credit counseling course, and financial schedules. The schedules are meant to provide the bankruptcy court, the trustee, and interested creditors with a complete picture of your finances. The debtor is obligated to disclose information about income, expenses, debts, assets, and certain financial …

The Costs of Representing Yourself in a Las Vegas Bankruptcy Case

Remember that time is money. –       Benjamin Franklin (1748) Several years ago Ian Walker, a professor of economics at Warwick University in England, developed a mathematical formula to show the personal cost of an activity like mowing your lawn or washing your car. The formula looks like this: V=(W((100-t)/100))/C V is the value per hour; W is your hourly wage; …

Bankruptcy and Inheritance in Las Vegas

When a bankruptcy debtor inherits money from someone who dies within 180 days of the date the debtor filed bankruptcy that money becomes part of the debtor’s bankruptcy estate. The inherited money that becomes part of the bankruptcy estate is used to pay your creditors. This is true even if you have received a discharge and your Chapter 7 bankruptcy case has …

Las Vegas Bankruptcy and Inheritance

We’ve spoken about marriage and bankruptcy. Now it’s time to speak about death and bankruptcy.  Not your own death, but the death of a loved one, which leaves you with an inheritance. We always ask our clients contemplating bankruptcy whether they foresee a loved one dying in the near future.  We don’t mean to sound morbid, but we want to …