Category Archives: Newsletters
Newsletters about bankruptcy and issues related to bankruptcy, such as bankruptcy laws, seeking bankruptcy exemptions and the truth about filing for bankruptcy.
Hiding assets during bankruptcy is an easy way to end up behind bars. Anyone considering hiding assets should look up a recent example of Joe and Teresa Guidice, who received prison sentences for concealing assets and engaging in fraud before and during their bankruptcy filing. The reality of the matter is that bankruptcy is a means of ridding yourself of debt legally and legitimately. How Do People Hide Assets? One common method is the hiding of assets by giving or selling them to friends or family. This is illegal. Courts and lawyers are aware of this practice as it seems like it may be a clever way to bypass the law, because you will no longer be in possession of the assets you’ve given away. However, this willful giving away of assets to friends or family to avoid potentially losing assets to a creditor is considered a fraudulent transactions requiring…
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Washington DC Bankruptcy Attorney Discusses a Little Known Fact Most people assume that one cannot discharge a student loan debt through bankruptcy. The accepted fact is that you can get rid of most kinds of unsecured debt through bankruptcy, but student loans are one thing you can’t wipe out through bankruptcy. A careful reading of bankruptcy law reveals that this is almost always true. For those able to prove that repaying a loan would cause undue hardship, student loans can, in fact, be discharged by bankruptcy. Undue hardship is undefined in bankruptcy law, meaning that each individual court decides what it means, making it an incredibly difficult condition to meet. For starters, one must be able to prove not only an inability to repay loans now, but very little chance of being able to pay them in the future either. Most borrowers don’t even try to discharge student loans since…
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The Law Firm of Kevin D. Judd would like to remind you to take time to remember the victims of the September 11, 2001 terrorist attacks in New York City, at the Pentagon and in Pennsylvania. Remember that each day is a blessing. Law Firm of Kevin D. Judd – Maryland and Washington DC bankruptcy attorney