I wanted to write something about what makes those who procrastinate file bankruptcy. First of all, procrastination and bankruptcy often go hand in hand. The unknown is scary and making a move during a period of insecurity is hard. Bankruptcy often feels optional at the beginning. Full Article…
Alternatives to Filing Bankruptcy
Posted on June 1, 2011 Written by
Debt Settlement Scams
You are an honest person. You are desperate to find a way to pay your bills, but your paycheck just doesn’t stretch far enough. You are robbing Peter to pay Paul.
You see commercials on TV and the Internet promising to solve your financial problems. Your guts tell you the “solution” is too good to be true, but you go against your instincts.
You were right! It is too good to be true!
Most of the debt settlement companies you see on TV or the Internet are illegal. Only a Kansas attorney or a credit services organization approved by the Office of the Kansas State Bank Commissioner can legally perform debt management services for a Kansas consumer. About 30 companies are approved. Most are not.
It is illegal for an unlicensed company to charge you a fee to take your money, hold it in escrow, not pay your creditors, then, once the debts are unpaid and delinquent for months, offer your creditors a partial lump sum settlement of the debt. These are debt settlement scams!
I posted about the Kansas consumer protection law on the Credit Law Network and the Bankruptcy Law Network.
Don’t despair. If you are paying an illegal debt settlement company, you might be able to get your money back. We can help you stop the automatic withdrawal from your bank account. We can demand a refund for you.
Legitimate Debt Management Plans
If you able able to pay your bills back through a debt management plan, contact Kansas consumer credit counseling services. Don’t send your hard earned money to out of state strangers you find on TV and Internet!
Housing and Credit Counseling, Inc., in Topeka, Lawrence and Manhattan
Consumer Credit Counseling Service, Inc., in Salina and Wichita
These two agencies can help you analyze your realistic ability to pay and can give you a frank assessment of your likelihood of success. They might be able to get creditors to voluntarily reduce interest, stop late fees and reduce monthly payments, but they probably won’t be able to get creditors to take less than you owe. Creditors cannot be forced to participate in a plan. Some creditors refuse. If you are lucky enough to have creditors who will cooperative, and you can pay your debts back at a`monthly rate you can afford, and you will have the bills paid off in a reasonable period of time, then you should consider a debt management plan through a Kansas credit counselor.
But if your creditors won’t agree to a debt management plan or the plan leaves you insufficient money to pay your necessities such as your housing, food, health care and transportation, you should consider filing for bankruptcy. You can expect these Kansas agencies to be be honest with you, even when they have to give you the bad news that a debt management plan won’t work for you. Both agencies are approved by the U.S. Trustee to issue bankruptcy certificates.
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What Can I Do If I Can’t Afford My Chapter 13?
Posted on May 30, 2011 Written by
by Peter Orville of Bankruptcy Law Network
You always have options if there are significant changes in your life during your Chapter 13. If you’ve been laid off, become sick, split up with your spouse or just can’t keep up with the rising price of gas, don’t give up hope. Your Chapter 13 is flexible…it can be modified to Full Article…
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341 Meeting: What Will They Ask Me?
Posted on May 30, 2011 Written by
Questions the Trustee is required to ask you at your bankruptcy hearing called a 341(a) meeting of creditors:
1. State your name and current address for the record.
2. Please provide your picture ID and Social Security number card for review.
3. Did you sign the petition, schedules, statements, and related documents and is the signature your own? Did you read the petition, schedules, statements, and related documents before you signed them?
4. Are you personally familiar with the information contained in the petition, schedules, statements and related documents? To the best of your knowledge, is the information contained in the petition, schedules, statements, and related documents true and correct? Are there any errors or omissions to bring to my attention at this time?
Watch a short video of a typical 341 hearing.
5. Are all of your assets identified on the schedules? Have you listed all of your creditors on the schedules?
6. Have you previously filed bankruptcy? (provide trustee with case number and the discharge information to determine discharge eligibility in this case)
7. What is the address of your current employer?
8. Is the copy of the tax return you provided a true copy of the most recent tax return you filed?
9. Do you have a domestic support obligation? To whom? Please provide the claimant’s address and telephone number, but do not state it on the record. Are you current on your post-petition domestic support obligations?
10. Have you filed all required tax returns for the past four years?
SAMPLE QUESTIONS THE TRUSTEE MAY ASK YOU
1. Do you own or have any interest whatsoever in any real estate? If owned: When did you purchase the property? How much did the property cost? What are the mortgages encumbering it? What do you estimate the present value ofthe property to be? Is that the whole value or your share? How did you arrive at that value? If renting: Have you ever owned the property in which you live and/or is its owner in any way related to you?
2. Have you made any transfers of any property or given any property away within the last one year period (or such longer period as applicable under state law)? If yes: What did you transfer? To whom was it transferred? What did you receive in exchange? What did you do with the funds?
3. Does anyone hold property belonging to you? If yes: Who holds the property and what is it? What is its value?
4. Do you have a claim against anyone or any business? If there are large medical debts, are the medical bills from injury? Are you the plaintiff in any lawsuit? What is the status of each case and who is representing you?
5. Are you entitled to life insurance proceeds or an inheritance as a result of someone’s death? If yes: PIease explain the detaiI s. If you become a beneficiary of any one’s estate within six months of the date your bankruptcy petition was filed, the trustee must be advised within ten days through your counsel of the nature and extent of the property you will receive. FRBP 1007(h)
6. Does anyone owe you money? If yes: Is the money collectible? Why haven’t you collected it? Who owes the money and where are they?
7. Have you made any large payments, over $600, to anyone in the past year?
8. Were federal income tax returns filed on a timely basis? When was the last return filed? Do you have copies ofthe federal income tax returns? At the time of the filing of your petition, were you entitled to a tax refund from the federal or state government ? If yes: Inquire as to amounts.
9. Do you have a bank account, either checking or savings? If yes: In what banks and what were the balances as of the date you filed your petition?
10. When you filed your petition, did you have:
a. any cash on hand?
b. any U.S. savings bonds?
c. any other stocks or bonds?
d. any certificates of deposit?
e. a safe deposit box in your name or in anyone else’s name?
11. Do you own an automobile? If yes: What is the year, make, and value? Do you owe any money on it? Is it insured?
12. Are you the owner of any cash value life insurance policies? If yes: State the name ofthe company, face amount of the policy, cash surrender value, if any, and the beneficiaries.
13. Do you have any winning lottery tickets?
14. Do you anticipate that you might realize any property, cash or otherwise, as a result of a divorce or separation proceeding?
15. Have you been engaged in any business during the last six years? If yes: Where and when? What happened to the assets of the business?
Source: Executive Office of U.S. Trustee, Handbook for Standing Trustees.
Read more: https://bankruptcykansas.info/will-they-ask-me/#ixzz1MRyssLCT
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13 Reasons Chapter 13 Bankruptcy Ends Your Bill Problems
Posted on May 30, 2011 Written by
Chapter 13 bankruptcy is a powerful tool that may be able to help you end your bill problems. Here are 13 reasons Chapter 13 bankruptcy makes sense written by my Bankruptcy Law Network colleague, Doug Jacobs.
- Flexibility: you can dismiss the case at any time or even convert it to a Chapter 7. You can modify a plan if income changes or you decide to give up a house or a car. You can refinance or sell a house during the plan.View Post
- A Chapter 13 will save a house from foreclosure as long as you can make the payments.
- You can strip a wholly unsecured second mortgage; or value a car if you’ve had it more than 910 days.
- You can challenge the costs added to your mortgage by the lender.
- Trustees want the plan to succeed and will work with you to get it confirmed.
- There are more debts that can be discharged including some divorce payments and damages for malicious and willful acts.
- Your attorney’s fees can be spread out rather than all due before filing.
- A Chapter 13 can be filed for one spouse even when married. (This is true of Chapter 7s also, but there are more advantages to having one spouse in a Chapter 13 plan.)
- You can avoid having to reaffirm a car in order to keep it.
- You can cure a tax problem or a Domestic Support Obligation (child support or alimony) over 60 months.
- You can stretch out your payments for a car or other secured debt.
- You won’t lose non-exempt property.
- Depending upon your income a Chapter 7 case can be challenged by the US Trustee, but not a Chapter 13.
Photo Credit:
Some rights reserved by Leigh Harries
What To Bring Your Bankruptcy Attorney
Posted on May 16, 2011 Written by
Please print out this list of documents to compile. Bring these documents to your attorney at the Topeka Bankruptcy Law Office. Always bring us copies and keep the originals for yourself.
Your Appointment: Date: ____________ Time: ________
With Attorney: __________ Mark Neis __________ Jill Michaux
Documents You Need to Bring to Your Attorney Meeting
Please bring these documents to our office when you come to meet with us. Do your best to find these papers. It is very important that you bring these items with you. We know it is difficult to come up with all these documents, but, unfortunately, we cannot file your case without this information. If you are missing documents, please call us at 785-354-1471 to see if there is a work around.
_____ Certificate of Credit Counseling and worksheets if you have already done this. If you have not done this, please wait and discuss this step with us. We will assist you. Credit counseling must be done before the bankruptcy case is filed.
_____ Bills and statements from ALL creditors, including your living expenses, whether or not you want to pay them or discharge in the bankruptcy. We must know about all creditors including your friends and relatives and your friendly creditors.
_____ Pay stubs from all employers and proof of any other income for the last seven (7) months.
_____ Bank statements for all accounts for past seven (7) months.
_____ Federal and state tax returns for last four (2) years (2013, 2014).
(Do not spend any tax refunds without our assistance.)
We must have a copy of 2013 and 2014 federal and state returns with all attachments. We can accept transcripts from IRS and State of Kansas if you have filed your returns but don’t have copies. You may get free transcripts from the IRS. Taxpayer Assistance at Docking State Office Building in Topeka will provide printouts for state returns. If you have not filed tax returns for 2002 through 2014, you will need the original returns with W2s or 1099s, or proof that you are not required to file federal or state income tax returns. Both IRS and State of Kansas will check your history for unfiled returns. Your bankruptcy case will be dismissed if returns are not filed.
_____ Deeds, promissory notes, mortgages, purchase papers, property tax statements, or contracts on any real estate you own or are buying with approximate payoff amount.
_____ Registrations or titles for all vehicles and proof of insurance showing coverage and lender as loss payee.
_____ Notes, retail installment contracts from banks, credit unions, finance companies or other lenders including pay day loans and car title loans. Also, any security agreements, purchase papers, leases or other documents listing your property as collateral for the purchase of cars, furniture, mobile homes, other personal property, rent to own or cash loans.
______ Liens on any property
______ Divorce decrees, property settlement agreements, child support orders or other domestic lawsuit documents, prenuptual and postnuptual agreements, and the current name and address of the other person in those lawsuits and agreements, amount due if you owe.
______ Statements for life insurance policies that have a cash value and annuities. You do not need to bring term life policies.
______ Judgments or court orders entered against you or in your favor. Garnishment papers.
______ Executory contracts, leases, contracts for sale or deed and lease-purchase contracts or rent-to-own agreements.
______ Statement for your IRA, Roth IRA, 401(k) or 403(b) plan, profit sharing plan, KPERS, tax sheltered annuity or other retirement plan. Promissory note for any loans against your retirement plan.
______ Your government issued photo ID
______ Proof of your Social Security number (SS card, W2, 1099, pay stub, health card)
______ Credit reports you already have.
______ $10-50 for individuals and $10-100 for couples if you are doing your credit counseling. We recommend www.debtorcc.com, which charges $9.95 for single or couple.
______ $25 for individuals and $50 for couples for credit reports we run. We run credit reports even if you have already done so.
______ Trusts you own or are the beneficiary of.
______ If you have lived outside the State of Kansas in the past five years, please bring a list of dates and places you resided for the past five years.
______ Business records. Call us to discuss what documents will be needed for your business. At a minimum, we will need business tax returns, bank statements, asset lists and values, creditor lists, monthly income and expense figures for the previous seven months and the current tax year, stock, and ownership documents.
______ Prior bankruptcy case information, date filed, case number, type of case, whether discharge granted, any papers you have.
______ Documentation of any property in your name that belongs to someone else or any property that belongs to you in the name of someone else.
______ Documentation for any property you have sold, transferred, given away, pledged or put in someone else’s name in the past 10 years.
Neis & Michaux, P.A.
Bankruptcy Law Office
534 S. Kansas Ave., Ste. 825
Topeka, KS 66603
785-354-1471
785-354-1170 fax
lawyers@neismichaux.com
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Where Do I Find the Bankruptcy Code Dollar Amounts That Adjust Every Three Years?
Posted on May 15, 2011 Written by
Revision of Certain Dollar Amounts in the Bankruptcy Code Prescribed Under Section 104(A) of the Code. Certain dollar amounts in title 11 and title 28, United States Code, are increased.
Federal Register: February 25, 2010 (Volume 75, Number 37)
Revision of Certain Dollar Amounts in the Bankruptcy Code Prescribed Under Section 104 (a) of the Code
SUPPLEMENTAL INFORMATION
Section 104(a) of title 11, United States Code, provides the mechanism for an automatic 3 year adjustment of dollar amounts in certain sections of titles 11 and 28. Bankruptcy Reform Act of 1994, Public Law 103394, section 108(e), (1994) as amended by Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, Public Law 1098, section 102(j), (2005) and Public Law 110406, (2008).
The provision states:
[[Page 8748]]
(a) On April 1, 1998, and at each 3 year interval ending April 1 thereafter, each dollar amount in effect under 101(3), 101(18), 101(19A), 101(51D), 109(e), 303(b), 507(a), 522(d), 522(f)(3) and 522(f)(4), 522(n), 522(p), 522(q), 523(a)(2)(C), 541(b), 547(c)(9), 707(b), 1322(d), 1325(b), and 1326(b)(3) and section 1409(b) of title 28 immediately before such April 1 shall be adjusted: (1) to reflect the change in the Consumer Price Index for All Urban Consumers, published by the Department of Labor, for the most recent 3 year period ending immediately before January 1 preceding such April 1, and (2) to round to the nearest $25 the dollar amount that represents such change.
[[Page 8748]]
(a) On April 1, 1998, and at each 3 year interval ending April 1 thereafter, each dollar amount in effect under 101(3), 101(18), 101(19A), 101(51D), 109(e), 303(b), 507(a), 522(d), 522(f)(3) and 522(f)(4), 522(n), 522(p), 522(q), 523(a)(2)(C), 541(b), 547(c)(9), 707(b), 1322(d), 1325(b), and 1326(b)(3) and section 1409(b) of title 28 immediately before such April 1 shall be adjusted: (1) to reflect the change in the Consumer Price Index for All Urban Consumers, published by the Department of Labor, for the most recent 3 year period ending immediately before January 1 preceding such April 1, and (2) to round to the nearest $25 the dollar amount that represents such change.
(b) Not later than March 1, 1998, and at each 3 year interval ending on March 1, thereafter, the Judicial Conference of the United States shall publish in the Federal Register the dollar amounts that will become effective on such April 1 under sections 101(3), 101(18), 101(19A), 101(51D), 109(e), 303(b), 507(a), 522(d), 522(f)(3) and 522(f)(4), 522(n), 522(p), 522(q), 523(a)(2)(C), 541(b), 547(c)(9), 707(b), 1322(d), 1325(b), and 1326(b)(3) and section 1409(b) of title 28.
(c) Adjustments made in accordance with subsection (a) shall not apply with respect to cases commenced before the date of such adjustments. Revision of Certain Dollar Amounts in Bankruptcy Code Notice is hereby given that the dollar amounts are increased in the sections in title 11 and title 28, United States Code, as set out in the following chart. These increases do not apply to cases commenced before the effective date of the adjustments, i.e., April 1, 2010. Seven Official Bankruptcy Forms (1, 6C, 6E, 7, 10, 22A and 22C) and two Director’s Forms (200 and 28.3) also will be amended to reflect these adjusted dollar amounts.
Dated: February 19, 2010.
Francis F. Szczebak,
Chief, Bankruptcy Judges Division.
Francis F. Szczebak,
Chief, Bankruptcy Judges Division.
Dollar amount to New (adjusted) be adjusted dollar amount 28 U.S.C. 1409(b)a trustee may commence a proceeding arising in or related to a case to recover
(1)money judgment of or $1,100………… $1,175 property worth less than.
(2)a consumer debt less 16,425………… 17,575 than.
(2)a non consumer debt 10,950………… 11,725 against a non insider less than.
(1)money judgment of or $1,100………… $1,175 property worth less than.
(2)a consumer debt less 16,425………… 17,575 than.
(2)a non consumer debt 10,950………… 11,725 against a non insider less than.
11 U.S.C. 101(3)definition of assisted 164,250……….. 175,750 person.
101(18)(A) & (B)(ii)definition 3,544,525 (each 3,792,650 (each of family farmer. time it appears).
101(19A)(A)(i) & (b)(ii)(II) 1,642,500 (each 1,757,475 (each definition of family fisherman. time it appears). time it appears).
101(51D)(A) & (B)definition of 2,190,000 (each 2,343,300 (each small business debtor. time it appears). time it appears).
109(e)allowable debt limits 336,900 (each time 360,475 (each time for individual filing it appears). it appears). bankruptcy under chapter 13.
1,010,650 (each 1,081,400 (each time it appears).
1,010,650 (each 1,081,400 (each time it appears).
303(b)minimum aggregate claims needed for the commencement of involuntary chapter 7 or chapter 11 bankruptcy
(1)in paragraph (1)……. 13,475………… 14,425
(2)in paragraph (2)……. 13,475………… 14,425
(1)in paragraph (1)……. 13,475………… 14,425
(2)in paragraph (2)……. 13,475………… 14,425
507(a)priority expenses and claims
(1)in paragraph (4)……. 10,950………… 11,725
(2)in paragraph (5)……. 10,950………… 11,725
(3)in paragraph (6)……. 5,400…………. 5,775
(4)in paragraph (7)……. 2,425…………. 2,600
(1)in paragraph (4)……. 10,950………… 11,725
(2)in paragraph (5)……. 10,950………… 11,725
(3)in paragraph (6)……. 5,400…………. 5,775
(4)in paragraph (7)……. 2,425…………. 2,600
522(d)value of property exemptions allowed to the debtor
(1)in paragraph (1)……. 20,200………… 21,625
(2)in paragraph (2)……. 3,225…………. 3,450
(3)in paragraph (3)……. 525…………… 550
10,775………… 11,525
(1)in paragraph (1)……. 20,200………… 21,625
(2)in paragraph (2)……. 3,225…………. 3,450
(3)in paragraph (3)……. 525…………… 550
10,775………… 11,525
(4)in paragraph (4)……. 1,350…………. 1,450
(5)in paragraph (5)……. 1,075…………. 1,150
10,125………… 10,825
(5)in paragraph (5)……. 1,075…………. 1,150
10,125………… 10,825
(6)in paragraph (6)……. 2,025…………. 2,175
(7)in paragraph (8)……. 10,775………… 11,525
(8)in paragraph (11)(D)… 20,200………… 21,625
(7)in paragraph (8)……. 10,775………… 11,525
(8)in paragraph (11)(D)… 20,200………… 21,625
522(f)(3)(B)exception to lien 5,475…………. 5,850 avoidance under certain state laws.
522(f)(4)(B)items excluded 550 (each time it 600 (each time it from definition of household appears). appears). goods for lien avoidance purposes.
522(n)maximum aggregate value 1,095,000……… 1,171,650 of assets in individual retirement accounts exempted.
522(p)(1)qualified homestead 136,875……….. 146,450 exemption.
522(q)(1)state homestead 136,875……….. 146,450 exemption.
523(a)(2)(C)exceptions to
discharge
in subclause (i)(I) 550…………… 600 consumer debts, incurred <=90 days before filing owed to a single creditor
in the aggregate.
in subclause (i)(II)cash 825…………… 875 advances incurred <=70 days before filing in the aggregate.
541(b)property of the estate exclusions (1)in paragraph (5)(C) 5,475…………. 5,850 education IRA funds in the aggregate.
(2)in paragraph (6)(C) 5,475…………. 5,850 prepurchased tuition credits in the aggregate.
[[Page 8749]]
547(c)(9) preferences, trustee 5,475…………. 5,850 may not avoid a transfer if, in a case filed by a debtor whose debts are not primarily consumer debts, the aggregate value of property is less than.
707(b)dismissal of a case or conversion to a case under chapter 11 or 13 (means test)
(1)in paragraph 6,575…………. 7,025
(2)(A)(i)(I).
(2)in paragraph 10,950………… 11,725
(2)(A)(i)(II).
(3)in paragraph 1,650…………. 1,775
(2)(A)(ii)(IV).
(4)in paragraph 6,575…………. 7,025
(2)(B)(iv)(I).
(5)in paragraph 10,950………… 11,725
(2)(B)(iv)(II).
(6)in paragraph (5)(B)…. 1,100…………. 1,175
(7)in paragraph 6(C)…… 575…………… 625
(8)in paragraph 7(A)(iii). 575…………… 625
1322(d)(1)(c) & (2)(c)contents 575 (each time it 625 (each time it of chapter 13 plan, monthly appears). appears). income.
1325(b)(3) & (b)(4)chapter 13 575 (each time it 625 (each time it confirmation of plan, appears). appears). disposable income.
1326(b)(3)(B)payments to 25……………. 25 former chapter 7 trustee.
[FR Doc. 20103807 Filed 22410; 8:45 am]
BILLING CODE 221055P
FOR FURTHER INFORMATION CONTACT
Francis F. Szczebak, Chief, Bankruptcy Judges Division, Administrative Office of the United States Courts, Washington, DC 20544, telephone (202) 5021900 or by email at Bankruptcy_Judges_Division@ao.uscourts.gov.
http://www.thefederalregister.com/d.p/2010-02-25-2010-3807
Federal Register: February 25, 2010 (Volume 75, Number 37)
DOCID: fr25fe10-122 FR Doc 2010-3807
Revision of Certain Dollar Amounts in the Bankruptcy Code Prescribed Under Section 104(A) of the Code. Certain dollar amounts in title 11 and title 28, United States Code, are increased.
10 Free Finance Tips on Money Health Central
Posted on May 14, 2011 Written by
Check out Money Health Central for free advice on family finances, money, debt, and credit.
- Penny Saved In The Kitchen Worth Two Pennies Earned
- Personal Finance Consumer Protection | Money Health Central
- Why Your Credit Score Won’t Be Any Better In Two Years
- 10 Easy Ways to Save on Pet Care | Money Health Central
- Credit Junkie Broke The Credit Habit (And So Can You)
- Household Living Expense Sheet | Money Health Central
- 4 Easy Ways To Start Saving For Retirement Today
- Breaking the Credit Habit: 5 things anyone can do.
- Breaking The Credit Habit In Five Steps
- Forgiveness Of Debt Income, What Everyone Ought To Know
Kansas Bankruptcy Local Court Rules Amended
Posted on March 17, 2011 Written by
New local rules for the Kansas Bankruptcy Court went into effect March 17, 2011.
Kansas Means Test Get Nicer March 15
Posted on March 2, 2011 Written by
The bankruptcy means test gets a little nicer to Kansas consumer debtors on March 15, 2011, when new, higher median family income figures go into effect. Kansas families will be allowed to have more gross income to pass the bankruptcy means test on the first round of analysis.
The median family income is used as the first step in determining whether or not a consumer may file a chapter 7 bankruptcy. If the person’s median family income is below the average income for his state, then he qualifies to be in a chapter 7 without having to do any further analysis of his financial situation. In Chapter 13 bankruptcy, the median family income is used as the first step in determining how much, if any, unsecured debt without priority has to be paid back. Many debtors pay little or no unsecured debt in their chapter 13 repayment plans. They use chapter 13 as a tool to adjust their debt and manage their financial difficulties in an affordable fashion.
Here are the new means test figures for Kansas bankruptcy cases by household size:
1Â $41,654 (up $672)
2Â $57,174 (up $923)
3Â $64,863 (up $1047)
4Â $69,272 (up $1118)
5Â Â $76,772 (up $1118)
6Â Â $84,272 (up $1118)
add $7500 for each additional person.
These figures are to be used for bankruptcy cases filed on or after March 15, 2011.
Chapter 13 Plan Form Mandated in Kansas Bankruptcy Court
Posted on March 1, 2011 Written by
The Kansas Bankruptcy Court judges adopted standing order SO_10_02 mandating the use of a chapter 13 plan form for all cases filed after March 1, 2011. Differing language may be used but it must be placed in locations on the form for non-standard language. The rule is designed to make it easier for readers to see chapter 13 plans deviate from “standard” language.
Download the Model Plan Templates from the Kansas Bankruptcy Court website
Click here for a WordPerfect (version X3 or higher) copy of the Model Plan.
New Topeka 13 Trustee Payment Address
Posted on February 25, 2011 Written by
Payments to the Topeka Chapter 13 Trustee should be mailed to a new lock box address starting March 1, 2011:
Chapter 13 Trustee
PO Box 2159
Topeka Kansas 66601-2159
You may also hand deliver to the 24 hour drop box at the trustee’s office at 507 SW Jackson, Topeka, Kansas.
Make checks payable to “Jan Hamilton, Chapter 13 Trustee” and print your name and case number on the check.
Do not send correspondence to the payment post office box. It is for payments only. It is opened by bank personnel not the trustee. There is a good chance your papers will not get delivered to the trustee if you use the payment address. Correspondence should be sent to Jan Hamilton Trustee, PO Box 3527, Topeka, KS 66601. Print your name and case number on your correspondence.
How do I know the chapter 13 trustee got my payment, you ask. Sign up for free online access to your account so you can monitor your payments in and the trustee disbursements out.
Corporation Not Personal Piggy Bank, Bankruptcy Discharge Denied For Fraud
Posted on February 25, 2011 Written by
In re Karr, (Bkrtcy.D.Kan.) (Judge Somers Case No. 09-20008. February 24, 2011: Discharge – Intent to defraud could be inferred from circumstances surrounding diversion of funds. A Chapter 7 debtor’s conduct in the year preceding the bankruptcy filing of his wholly-owned corporation, in using the corporation as a piggy bank to pay personal expenses of himself and his family even as the company’s cash flow problems worsened and it was unable to pay corporate creditors, warranted a denial of the debtor’s individual Chapter 7 discharge under 11 U.S.C.A. 727(a)(7) on a fraudulent transfer theory. An intent to defraud corporate creditors could be inferred from circumstances surrounding the diversion of corporate funds, notwithstanding that the debtor did not attempt to conceal this diversion and testified, after-the-fact, that he intended to repay the corporation for any funds diverted.
Summary by West Highlights
IRS Collectors Lighten Up, Less Liens
Posted on February 25, 2011 Written by
The Internal Revenue Service is making it easier to set up payment arrangements on delinquent taxes and file less tax liens according to its press release today. The press release is below in its entirety.
IRS Announces New Effort to Help Struggling Taxpayers Get a Fresh Start; Major Changes Made to Lien Process
IR-2011-20, Feb. 24, 2011
WASHINGTON — In its latest effort to help struggling taxpayers, the Internal Revenue Service today announced a series of new steps to help people get a fresh start with their tax liabilities.
The goal is to help individuals and small businesses meet their tax obligations, without adding unnecessary burden to taxpayers. Specifically, the IRS is announcing new policies and programs to help taxpayers pay back taxes and avoid tax liens.
“We are making fundamental changes to our lien system and other collection tools that will help taxpayers and give them a fresh start,†IRS Commissioner Doug Shulman said. “These steps are good for people facing tough times, and they reflect a responsible approach for the tax system.â€
Today’s announcement centers on the IRS making important changes to its lien filing practices that will lessen the negative impact on taxpayers. The changes include:
* Significantly increasing the dollar threshold when liens are generally issued, resulting in fewer tax liens.
* Making it easier for taxpayers to obtain lien withdrawals after paying a tax bill.
* Withdrawing liens in most cases where a taxpayer enters into a Direct Debit Installment Agreement.
* Creating easier access to Installment Agreements for more struggling small businesses.
* Expanding a streamlined Offer in Compromise program to cover more taxpayers. [Read more…]
2011 Poverty Guidelines
Posted on February 18, 2011 Written by
2011 POVERTY GUIDELINES FOR KANSAS, THE 48 CONTIGUOUS STATES AND THE DISTRICT OF COLUMBIA
Persons in family Poverty guideline
1 ………………………………………… $10,890
2 ………………………………………….. 14,710
3 ………………………………………….. 18,530
4 ………………………………………….. 22,350
5 ………………………………………….. 26,170
6 ………………………………………….. 29,990
7 ………………………………………….. 33,810
8 ………………………………………….. 37,630
For families with more than 8 persons, add $3,820 for each additional person.
The poverty guidelines issued here are a simplified version of the poverty thresholds that the Census Bureau uses to prepare its estimates of the number of
individuals and families in poverty.
As required by law, this update is accomplished by increasing the latest published Census Bureau poverty thresholds by the relevant percentage change in the Consumer Price Index for All Urban Consumers (CPI–U). The guidelines in this 2011 notice reflect the 1.6 percent price increase between calendar years 2009 and 2010. After this inflation adjustment, the guidelines are rounded and adjusted to standardize the differences between family sizes.
Why the Focus on Credit Score?
Posted on February 16, 2011 Written by
Here is an excellent post on credit scoring by my blogging colleague, Gene Melchionne of Connecticut, on Money Heath Central.
What’s your credit score?
How many times have you heard, “What is your credit score?† Or someone talking about how to keep your credit score up?  Or keep it from going down?  Or read an article about what makes up your score?
Americans like to reduce concepts to numbers. We do it in sports; number of games unbeaten; batting averages, etc. Â We do it in the economy; stocks increasing on the Dow Jones , the unemployment rate. Â We do it in cars, miles per gallon or horsepower. Â We do it in health; blood pressure, body mass index. Â It is easy to compare on number to another and decide which is better.
Somewhere, somehow, we were sold on the idea that a good credit score is important. Â And then the idea was sold to others so employers think a good credit score is an indication of a good employee and insurance comanies think a good credit score is also somehow a good insurance risk. Â Like somehow paying the minimum payments on your credit cards everymonth somehow makes you a good driver.
Now the credit score is taking on the important task of measuring self-worth.  If you don;t have enough debt and enough monthly payments to worry about, then you just aren’t a success.
The real truth is that you are better off without debt.  If you can pay off your bills, then you can’t get into financial trouble.  If you live within your means, you will have the means to live.  If you want something, pay cash and if you can’t pay cash then save up to buy the thing you want so bad.  It will feel even better when you do get it because you earned it.  That will feed your self-worht more than anything. If an employer can’t see your worth as an employee based on your character, then you don’t need them.  While you need insurance for some things, you can shop around.  There are many companies who will take your business.  Don’t be a number, be you first and don’t focus on your credit score as measure of your life.
February 16, 2011 By Gene Melchionne
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