Overview of Chapter 7 Bankruptcy

Bankruptcy laws provide individuals seeking debt relief two main avenues to that relief: Chapter 7 and Chapter 13. Chapter 7 bankruptcy, often called liquidation or straight bankruptcy, is the most common form. In Chapter 7 debts like credit cards, medical bills, and utility bills can usually be completely discharged or wiped out. Bankruptcy courts may [...]

How Can I Afford To File For Bankruptcy When I’m Already Short On Funds?

It costs money to hire an attorney and pay a court filing fee. How can you file for bankruptcy when you are already short on funds? Some of the best bankruptcy attorneys offer a free half hour consultation so that you can learn your options. If bankruptcy is not the best option for you, the attorney [...]

Can Tax Debts Be Simply Eliminated Through Filing For Bankruptcy?

There are many ads on the TV and radio that claim tax debts can simply be eliminated through filing for bankruptcy. Unfortunately, this is not always true. Income tax debts are able to be discharged in Chapter 7 bankruptcy if all of the following is true: All tax returns for the tax debt you're seeking [...]

Bankruptcy Can Be A Way Of Obtaining College Transcripts That Are Withheld For Nonpayment Of Tuition Or Loans

Bankruptcy can be a way of obtaining college transcripts that are withheld for nonpayment of tuition or loans. The filing of a bankruptcy petition creates an “automatic stay” that prevents any effort by a creditor to collect on a debt. The great majority of courts that have ruled on the issue have held that the [...]

Tips For Maximizing Your Budget During The Holiday Season

Maximizing Your Budget Thanksgiving kicks off the start of the holiday season, which also happens to be the season in which we spend the most. You may feel like it's difficult to avoid going into debt during this time, but here are some tips that will help you save money. Calculate a budget and stick [...]

Your Health Savings Account Can Be Affected In A Minnesota Bankruptcy Case

Did you know that your health savings account can be affected in a Minnesota bankruptcy case? A federal Bankruptcy Appellate Panel upheld Minnesota Bankruptcy Judge Kathleen Sandberg's original ruling that health saving accounts (HSA's) are property of a Chapter 7 bankruptcy estate. The case that brought this issue to the forefront is Leitch v. Christians. [...]

GREGORY J. WALD, ATTORNEY AT LAW

Gregory J. Wald, Attorney At Law

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