Using Your Tax Refund To File For Bankruptcy (Or Avoid It) May Not Work Like You Think It Will
Hanson & Payne, LLC | Bankruptcy Blog
by omnizant.support
2w ago
This year, the IRS is warning people not to expect tax refunds to process as quickly, or be as large, as they were in the past. This will no doubt prove frustrating to the many Wisconsin families who rely on their tax refund to make ends meet after splurging over the holidays. And others who count on the money to fund big purchases or pay for things they have been putting off.  Over the years, a few of our Milwaukee area clients have told us protecting or using their tax refund was an important part of their decision to file bankruptcy when they did. This often meant strategically spendin ..read more
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Bankruptcy Code Reverts To Pre-Covid Rules
Hanson & Payne, LLC | Bankruptcy Blog
by omnizant.support
2w ago
On December 27, a number of changes to the bankruptcy code that were put in place to help creditors and debtors ride out the pandemic expired. The Hanson & Payne team has discussed this change with our Milwaukee area clients who may be impacted, but we thought it would be a good idea to share information about a couple of the key updates with a broader audience.  Subsection 547(j) Commercial Tenant Preference Defense When a debtor files for bankruptcy, the court may order any assets the filer transferred to creditors, or paid to companies it does business with, returned to the bankrup ..read more
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Will Filing For Bankruptcy Give You A Fresh Start If Your Spouse Committed Fraud?
Hanson & Payne, LLC | Bankruptcy Blog
by omnizant.support
2w ago
When you get married, you pledge that you will love your spouse for better, for worse, for richer, for poorer, in sickness and in health, until parted by death. But this is easier said than done… especially if your spouse commits fraud, hides it from you, and even filing for bankruptcy may not help you get your financial life back on track.  The United States Supreme Court is currently debating how to treat spouses in this very situation in a case called Bartenwerfer v. Buckley. Their decision will have an impact on a wide variety of personal bankruptcy cases, including those filed here i ..read more
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It’s A Gouda Time To Figure Out Which Chapter Of The Bankruptcy Code To File Under
Hanson & Payne, LLC | Bankruptcy Blog
by omnizant.support
1M ago
Saying you are thinking about filing for bankruptcy is about as descriptive as saying you are running to the store to get some cheese. While there are not as many chapters of the bankruptcy code as there are types of cheeses in Wisconsin, it is necessary to be more precise in order to find an option that fits the situation at hand.  In this blog post, we will go over the basic characteristics of the most common chapters of the bankruptcy code. But you better believe this is something you should discuss with an experienced bankruptcy attorney like those on the Hanson & Payne team. Chap ..read more
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Can Creditors Appeal The Ruling Of A Bankruptcy Court?
Hanson & Payne, LLC | Bankruptcy Blog
by omnizant.support
1M ago
If you recall anything you learned about the legal system in your high school civics class, it’s probably the fact that the United States Supreme Court is the highest court in the land. Your teacher might even have told you that any case could eventually end up there if the parties involved keep appealing.  It turns out that is a bit of an overgeneralization. While most cases can be appealed, there are some that simply cannot. Earlier this month, the Justices actually heard a bankruptcy case where the main question is whether a creditor can appeal certain bankruptcy court rulings.  T ..read more
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The Holiday Rush Is Here, But Don’t Assume You Need To File For Bankruptcy Before The End Of The Year
Hanson & Payne, LLC | Bankruptcy Blog
by omnizant.support
2M ago
The holiday season is officially upon us, which means folks are counting down to the end of the year. People often assume that this is Hanson & Payne’s busy season, with Milwaukee area residents and businesses rushing to file for bankruptcy before the clock strikes midnight on December 31. But bankruptcy doesn’t really work like that.  There is no reason someone who is considering filing for bankruptcy should rush to do so before the end of the year. Instead, a potential filer should consult with an experienced bankruptcy attorney like those at Hanson & Payne to figure out the opt ..read more
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3 Things to Know About Bankruptcy and Real Estate
Hanson & Payne, LLC | Bankruptcy Blog
by omnizant.support
2M ago
Hanson & Payne is known as one of the top bankruptcy firms in the Milwaukee area, but we also represent clients in real estate transactions. Where these two very different areas of law overlap is where our experienced team members shine.  Our firm gets a lot of questions about bankruptcy and real estate because we do work in both areas, so we put together this list of three things to know about bankruptcy and real estate.  1. The Homestead Exemption Can Keep a Roof Over a Filer’s Head  Under both Wisconsin law and federal law, bankruptcy filers can choose to keep certain pie ..read more
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Bankruptcy Is One Option For Folks Struggling To Pay Utility Bills
Hanson & Payne, LLC | Bankruptcy Blog
by omnizant.support
2M ago
According to the Old Farmer’s Almanac, Wisconsinites should prepare for a winter that is colder than normal with above average snowfall. The popular publication says the ‘Lower Lakes’ region where Milwaukee is located will be “colder than normal, with the coldest temperatures in early December and late January to mid-February. Both precipitation and snowfall will be above normal. The snowiest periods will be in late November to early December and early to mid-January.” This prediction has the Hanson & Payne team ready to break out our long underwear and offer a few bits of advice to any Mi ..read more
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Filing For Bankruptcy Doesn’t Mean You Have To Start From Scratch
Hanson & Payne, LLC | Bankruptcy Blog
by omnizant.support
3M ago
If you have ever tried to make a cake from scratch, you are a more ambitious baker than most members of the Hanson & Payne team. While we may be able to draft a bankruptcy petition with our eyes closed, we are much more likely to crack open a box of cake mix or buy a fully decorated one from the grocery store than attempt to make one by following a recipe.  Starting from scratch is a challenge whether you are in the kitchen or the courtroom, which is why many of our Milwaukee area clients are hesitant to pull the trigger and file for Chapter 7 bankruptcy. We often talk about these typ ..read more
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5 Spooky Facts About Debt Collection
Hanson & Payne, LLC | Bankruptcy Blog
by omnizant.support
3M ago
It’s Halloween, which means all sorts of scary creatures are on the prowl — ghosts, goblins, ghouls, and the creepiest of them all… delinquent debt.  Americans currently owe more than $16.5 trillion in consumer debt. While many people were able to pay off debts and keep up with payments during the past two years, a lot of households are starting to fall behind thanks to rising prices.  In the spirit of the season, the Hanson & Payne team has pulled together a few spooky facts about debt collection that we think everyone in the Milwaukee area should be aware of.  1. Debt Can ..read more
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