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What Do You Lose When You File Bankruptcy?
February 18th, 2022
There is a lot of confusing information out there about what happens to your property once the Bankruptcy Court gets a hold of it. This may lead you to think you will lose everything when you file bankruptcy. The truth is much more reasonable. By wor…
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Connecticut Appeal Overturns Purdue Pharma Bankruptcy Ruling
January 5th, 2022
A federal bankruptcy settlement dissolving Purdue Pharma would have left the victims of the opioid epidemic without anyone to sue for their injuries. The Connecticut Attorney General was among the parties who appealed the settlement as unconstitution…
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Categories: Bankruptcy
Connecticut Homestead Exemption Expands!!
July 16th, 2021
On July 12th, 2021 Governor Ned Lamont signed into law An Act Concerning Property That Is Exempt From A Judgement Creditor, HB 6466. The law increases Connecticut’s homestead exemption to $250,000, its motor vehicle exemption to $7,000, and cre…
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The Small Business Reorganization Act Could Be a Game-Changer.
October 9th, 2019
Until now, the utility of chapter 11 reorganizations for small businesses has been limited. One reason for this has nothing to do with the law. Small business owners often cling to a formerly profitable “business as usual” approach until…
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Bankruptcy law isn't exciting.
When you realize you need to file bankruptcy it's natural to imagine you will be stigmatized. It's baked into our cultural DNA. But financial misfortune can happen to anyone.
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The Marital Deduction and Chapter 7
February 18th, 2019
The marital deduction can be a game-changer, so the opportunity to use it should not be overlooked.
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Chapter 7 eligibility (part II); the Means Test
February 12th, 2019
If you are "over-median", then hope for qualifying for chapter 7 bankruptcy relief is not lost (far from it!), but you must complete and pass the dreaded "means test" calculation (form 122A-2).
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Categories: Bankruptcy
Eligibility for chapter 7 bankruptcy (P1)
January 27th, 2019
An explanation of the initial step for determining eligibility for chapter 7 bankruptcy based on income.
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