Reversing its own 2010 ruling, the U.S. Court of Appeals for the 9th Circuit recently decided that debtors may seek attorney's fees incurred while prosecuting cases related to automatic stay violations. These fees may be sought and recovered even after the violation...
Month: October 2015
Attempt to hide retirement account backfires on debtors
A North Carolina bankruptcy case illustrates how important it is for people in New York to honestly disclose assets when filing for bankruptcy protection. After investigating a complex bankruptcy case, a judge on the U.S. District Court for the Western District of...
IRS has collected more than $8 billion from offshore voluntary disclosure program
The IRS reminded U.S. taxpayers today that with more than 54,000 taxpayers coming in to participate in offshore disclosure programs since 2009, U.S. taxpayers with undisclosed offshore accounts should strongly consider existing paths established to come into full...
The effects of the 2005 bankruptcy overhaul
New York residents who are in the process of bankruptcy may be facing the negative effects of a 2005 overhaul of the bankruptcy system, according to the American Bankruptcy Institute. Two panelists in an ABI webinar report that the Bankruptcy Abuse Prevention and...
Ways to handle debt
As many New York consumers have found, filing for bankruptcy can often be an appropriate debt relief solution for those who are struggling with unmanageable financial obligations. There are two primary types of bankruptcy that are available for individual debtors, and...
What is the job of a Chapter 7 trustee?
New York consumers who are struggling with their financial obligations may be interested in learning more about the role of the trustee in a Chapter 7 bankruptcy. Once the petition for Chapter 7 bankruptcy is filed, an impartial case trustee is appointed by the U.S....