Patriot Radio News Hour 2/4:GM"Goodbye America"Hello China & Brazil !!

www.allamericangold.com Main Street would take a hit in the loser in a GM bankruptcy, General Motors Corp. bankruptcy Main Street, not Wall Street, said a lawyer who represented Chrysler LLC dissident creditors and tries to keep the bondholders to organize the to $ 7 billion in GM debt. Whats is being offered by the US-backed plan to give the American and Canadian governments as much as 69 percent of the capital and 17.5 per cent confidence for the unions, while bondholders will receive only 10%. GM plans to ...



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Business Bankruptcy - When Does a Corporation Or Partnership Need to File?

When a company bankruptcy under either Chapter 7 or Chapter should be submitted 11? A common scenario in today's society occurs when companies or individuals are a part of the partnership or limited liability company (LLC) and the economy fails, and then they have to deal with the different options for their own bankruptcy filing. Many questions arise, how should one or both the corporate and individual owners? If yes, which chapter of bankruptcy should be filed?This article discusses a few of the many issues involved.

Scenario 1:

Fred and Wilma to 100% of the shares of Dino Corporation. Dino Corp. makes gravel of pebbles for Slate Gravel Company. However, several processes and a slowdown in the economy, Dino Corp. is closing its doors and shut down. Among the debts the company owes money to the Internal Revenue Service for employee payroll taxes, money to suppliers, employees and the credit card company. Furthermoreguaranteed due to a couple of lines of credit, the person of Fred and Wilma.

Dino Corp. has some assets, mainly machinery and equipment, but also inventory spare flint.

Fred and Wilma have now sued some of the personal guarantees, and the IRS is after them for the employee wage tax.

Issues:

Should Dino Corp. a company file for bankruptcy? If Fred and Wilma file bankruptcy, or will their financial To reduce problems her life a shambles? (Sorry)

Analysis:

The first thing is to understand that corporations do not benefit from discharge of his debts in Chapter 7 (liquidation) bankruptcy. Even if the company could reach its debts in a Chapter 7 case, set them free, it is not / not the liability of owners .

Even if they do not receive a discharge of debts, there are some good reasons to file a Chapter 7 times> Bankruptcy for a company. First, it allows the enterprise's assets are sold and the proceeds paid by an independent liquidator. Thus the owners of the burden and the responsibility of these tasks will be to. In addition, it provides notice to all creditors of the company that the only assets will be liquidated from the now dissolved company and as part of Chapter 7 case and therefore paid for them there is nothing left to the processes in a filego after the bankruptcy has been completed.

May include, apart Whether Fred and Wilma may submit their own bankruptcy only after full consultation with a bankruptcy lawyer should be determined, but it may be the only way they have to deal with their debt (the extra debt from the above, because these lists only their obligations stemming from the company came). What chapter they file depends on their personal financial situation, debt, Income and expenses.

Ownership of a company are personally liable for some but not all the debts of a company. These employees include payroll taxes (the Trust Fund section under Internal Revenue Code 6672), and all debts were personally guaranteed by them.

There are many other issues are involved, as well as scenarios with individual entrepreneurs (sole proprietorship / DBAs) and partnerships, but these are the subject of future articles for small businesses> Bankruptcy.

See business bankruptcies for more information about this topic.

Can Debtors Afford Bankruptcy? Finding Low-Cost Bankruptcy

It seems palpable in the air, an ominous additional burden for the average American borrowers and highly indebted consumers in today's dire national economic conditions, see perhaps his only chance for some relief to find in files bankruptcy: finding low-cost bankruptcy low - cost of bankruptcy that you can afford. Meaning, essentially a non-lawyer pro se alternative.

The latest figures just released by the Secretariat of the United States> Bankruptcy Courts in the February 2009 bankruptcy filings, made a living reality crystal clear to nearly every one, namely that the rate at which the increasingly overwhelmed and) American troubled borrowers (individuals and businesses are responsible for the bankruptcy filing, has been at its highest level the now famous (or notorious, many would say!) drastic changes of 2005 to the U.S. bankruptcy law. But even more clearly that the new registration is threateningBeginning to return to the old "hate" high levels of bankruptcy filing that was the nation that achieved before this new law, passed in 2005, ostensibly to reverse the correct and curtail drastically or the high registration numbers then existing levels.

This trend in the American debtor bankruptcy filings strongly emphasizes a few basic points, among others. First, the depth and seriousness of the straight and financial difficulties in which the average American consumer andDebtor is in today. Secondly, the reality is that no matter how difficult legal hurdle and obstacle to the institutional powers that could (the Congress, the lawyers or financial institutions, courts, etc.) attempt to try to place on the path of American debtors, discouraging free or that it ever more difficult for them to find relief from the bankruptcy of its debt if it is really time to the difficult financial and economic crunch, Americans will still find a way somehow, and isstill persevere and continue to be against all odds in demanding their constitutional rights to be heard in bankruptcy, and thirdly, the critical need for the average debtor in the search for affordable alternatives to filing bankruptcy lawyer.

Elizabeth Warren, a Harvard Law School professor and author of several books on bankruptcy, probably best sums up the point that, in allusion to the persuasive power of Congress by various special interests, the law of 2005, theyrestricted that the debtor from filing for bankruptcy: "The banking industry [and other interest groups] did his best to drive the cost of filing [bankruptcy]. But if families in trouble enough, they will struggle their way through the paper ticket and higher costs for lawyers "to get help", added: "The word is now leaking out [again], that the bankruptcy courts are open for business."

THE "unofficially bankrupts - debtors who do NOTFILE, because they can not afford it

But above all, as the, now from the perspective of the average bankruptcy petition, this raises a fundamental question, however. Indeed, as the current growing army of American increasingly desperate borrowers who will not only seek to for personal or business bankruptcy, but in many cases really need to file a file to log OPENS bankruptcy - particularly the high legal lawyers' costs registrationBankruptcy? How do these claims which have, or find low-cost bankruptcy? A bankruptcy, the debtor can afford adequate?

Approximately 1.1 million (1,064,000) American borrowers to open insolvency proceedings in the past year 2008 - submissions, which were many analysts are quick to remind us, in spite of these debtors, and conducted under harsh conditions, a whole series of strict, restrictive requirements and dramatically increase legal fees enacted in 2005. But,even more significant, from the standpoint of the debtor or the bankruptcy-seekers, is another closely related FACT: the worse, according to experts, THERE'S AMERICAN nearly as many debtors who wanted to file for bankruptcy and are eligible, but could not, because she could not afford it, the laws of the attorney's fees. These are borrowers who Justin Harelik, a bankruptcy attorney with Price Law in Los Angeles, call the "unofficial bankrupts - debtors who areto make all but bankrupt, but a lack of strong lawyers' price, their status official!

Annual number of bankruptcies SINCE 1998
Source: creditslips.org

Insolvency years ....... ....... Filings ......... Source & Notes
1998 ....... .......... 1.442543 AO data ......( Office of U.S. Courts)
1999 ....... ......... 1319465 AO data
2000 ....... ......... 1,253.444 AO data
2001 ....... ......... 1,492-129 AO data
2002 ....... 1577, AO 561 ........Data
2003 ....... ......... 1589383 AO data
2004 ....... ......... 1597462 AO data
2005 ....... 2078415 ......... ........ AO data includes number of entries before 2005 BKR. Legal
2006 ....... 590,544 ........... AACER data ... (automatic access to Court Records)
2007 ....... 826,665 ........... AA.CER Data
2008 ....... 1064000 ......... AACER Data

Even the lawyers AGREE WITH FEES her big a problem with DEBTORS

In fact, although many bankruptcy lawyers would be that they tendare shaded, many other lawyers who recognize objectively that the statutory attorneys' fees for bankruptcy most common question and concern for the debtors and customers in bankruptcy practice.

"They have to pay 7 Chapter lawyers in advance in cash. You can go too poor to be bankrupt," said Dr. Robert M. Lawless provided by the University of Illinois College of Law, once.

Another observer, Jenny C. McCune, an editor at Bankrate.com, notes that, rather surprisingly, we have now come to the point where a debtor "funding may have filed bankruptcy," adding: "It may sound like a Catch-22 ... you have no money, so you for the application are bankrupt, but you have [legal fee] money, so you can file bankruptcy. "

Janathan Ginsburg, bankruptcy attorney, Atlanta, Ga., said that in telephone conversations that he frequently with callers, where severe financial crises that are thoughtfully possible> Bankruptcy, after their first question is often general in nature, "The next question I will do must of fees:" If I have no money, how should I pay for a lawyer? "

Bankruptcy lawyers, schooled in the art of argumentation and defense of the clearly not acceptable, especially if it focuses on the protection of a lucrative way to a lively, often fall into what are essentially before, really deep philosophical arguments to justifythe high fees that they are free - it is really still a "bargain" for borrowers, given the much larger sums of money they are in bankruptcy discharge if a debtor is "really" pushed hard enough by its debt burden and is difficult to liberate "themselves to from him, he will somehow find a way to a debtor, if he really "serious" is always the lawyer's fees from somewhere, we say, make the retention of the payments he would have been to other creditors and then using it to to pay lawyers to free him fromthe larger burden of debt, etc., etc. It is a complex web of arguments that would have to wait for another day to address. But for our immediate purposes of this current article, the relevant question is crystal clear. The point clearly is that for the average American today debtor already reeling from high debt burden, and the main object he is (from the attempt, through bankruptcy notification address is the average fee for bankruptcy lawyer about $ 2,000 or more forsimple Chapter 7 bankruptcy, and $ 4500 + for his counterparts in Chapter 13) is high, in fact, even exaggerated, and often it is simply beyond their means - in short, simply unaffordable.

Attorneys HAVE "PRICED OUT" A LOT of debtors

It appears that the bankruptcy lawyers are fueled by greed and monopolistic instincts gradually volumes from the personal bankruptcy filing companies that the only realistic alternative is trying to left, seems toa non-lawyer low-cost bankruptcy.

"Surveys have shown that many of their attorneys fees have doubled to cope with new requirements imposed on the BAPCPA of 2005,. Many thousands of debtors were represented by a lawyer, therefore, prices in its bankruptcy," says Stephen Elias, a California lawyer and bankruptcy specialist and author of several books on the subject. "Because of the rules governing the practice of law, the only legal alternative to... Is self-represented lawyer bankruptcy petition preparers to help with your paperwork. "

The point is then clear. The basic task at hand at this moment in the field of insolvency, is to develop a credible system is that low costs for the filing of the bankruptcy, is the simple, straighforwards and easily accessible, and above all affordable to the debtor, the legitimately seek or need to bankruptcy and are qualified andEntitled to file under the conditions of participation. It is, after all, that imposed no "gift" or a kind of "favor" by "the law", or some sort of charity-gooders peddling the legal establishment. But a direct gift of the Holy Law and the U.S. Constitution.

It is a task which we shall all be especially the constituency of bankruptcy and the bankruptcy of the industry leaders, who control the present bankruptcy system - the financial and banking industry,The courts, the Congress, but also private entrepreneurs and individuals who may come with new ideas or fresh ideas about how the current system to repair broken personal bankruptcy, and yes, the current bankruptcy lawyers and bar, and others.

But his interpretation of more immediacy and urgency, but in the meantime, while we expect such a new system by the responsible parties are qualified American entrepreneurs, institutions and organizations in a position to be free to comewith practical and effective ways and methods - alternatives to the current very poor and inadequately controlled, legal and bankruptcy system - which actually legitimate bankruptcy seekers to find their legitimate constitutional right to exercise the bankruptcy relief option, if and when required - just accessible and affordable. Must in sum, America, in both public and private sectors to prepare quick, develop and implement a drasticdifferent but effective bankruptcy filing system that the current million plus per year and the extra millions coming from bankruptcy filers who will be, as provided for in the bankruptcy filing pipeline per year, sign a really affordable means for them bankrupt - the 1 , 4 million U.S. filers (or more look) that is expected to discharge in bankruptcy in 2009 calendar year alone, and beyond.

For reals?...seriously...

From a meeting on 29 September 2008. ... Karl Rove morality buyouts political debate show Obama McCain Palin Couric Bankruptcy Lawyer subprime scandal



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California Deparment of Corporations and Franchise Opportunities Law

What CA needs to do to for matters Franchising

We should not allow more degradation of California through incessant over regulations in the franchising sector. No other sector of our economy provides as many jobs as franchising. Some people might say, retailing, finance more than half of all jobs including retail franchise. Well, there is a problem in the franchise community with the way the Department of Corporations is about the business. First, there are only 12Franchise registration states in the United States currently, compared to 14 two years ago. California is one of them, even by attorneys who are considered a living filling out forms, the higher one.

It is considered the most hostile by active franchisors as well, of which there are a total of only 2230 in the U.S., which franchises about 380,000 to an average of 15 employees. Not all of these franchisors provide businesses or franchises located in Canada, many displaced workersthere. The reason is the slow nature of the process at the Department of Enterprise and the hostile and perceived hostile bureaucracy of the Ministry and the anger and horror stories that are discussed in the industry. Spent 1 / 3 of all consumer dollars in the U.S. state of California goes through a franchise business. If businesses do not exist, then no one works there, no cities, the income from the sale of products taxes, there are no products to sell if no memory is available,no state income is earned, because nobody has a job to stay empty buildings and people who own their own business, remain unemployed or underemployed, and never a chance that a part of their "wish to pursue American Dream."

Less mean higher franchise prices franchisor for those who participate because of a lack of competition and to consumers or business less of a return on investment for business owners because of these prices. The Department of Corporations is probably toobe, so that the consumer does not insure that they higher prices for franchised businesses, pursue their American Dreams. You can then compounds with fewer choices for consumers and a slowing of the money flow / supply, which means less revenue for the state. The negative impact which has emerged from this section completely inexcusable and that is to be beautiful and gentile. All of this has arrived in Canada due to the doubling of the Federal Trade Commission laws in the California Franchise Registration andRenewal process.

Franchises are not like business opportunities, in which there is much fraud in franchising a long term relationship and is one of the lawyers who closely involved in the franchise area of the test. In other words, any franchisor trying to pull a fast for the consumer would have to deal with many private lawsuits and the subsequent FTC. But the Department of Corporations and unnecessary third category adds to the situation, which stifles free enterprise byslow processing of applications and renewals. Since the laws are slightly different, it is compounds the problems of the unity of the concept and thus hurts economies of scale, enjoy the franchisors and franchisees, so that saves them against the larger box type, the little guys crushing competitors . Little boys importance for small businesses, which 2 / 3 of the population employed in the state of California. Every time one of these franchisors is delayed in the application or renewal periodscosts the state money in tax revenue and Californian constituents in jobs, lower living standards, higher prices (artificial inflation), reduced choice and options in pursuing their "American Dream".

What regulate originally as a good idea to franchise companies on the DOC in California many years ago no longer needed because the private right of action in legal proceedings, lawyers who specialize in franchising industry and the Federal Trade Commissionmore than filled the gap. The pendulum when the DOC is to admit the equation by unnecessary duplication, additional administrative burden, time only compounds the issues for the slow recovery of the economy or our CA and of course, lost sales tax revenues of cities and income tax payments and fees to the great state of California. Recently on the ABA-American Bar Association for Franchising list is online "serve" is the franchise attorneys in our great nation, many of whomPractice law in California were the problems with franchise registration renewal and applications that are currently delayed for a seal of approval. The fees are not bad, given the market size of CA, $ 600.00, but the review is a real quote: "bitch". You quote me alone, the entire industry agrees, it is a universal truth, then how the perception of reality. And even if a few years, we have a rapid return of the application had other years, they have many months, that is a verymore frequently. With this poor business attitude few franchisors course look forward to the California market, regardless of their status as the seventh largest economy in the world, which apparently went to a few minds. The reality is that franchises are donors who among the largest group of economic inflow are not as think as you may, quite enthusiastic on the contrary. Many fear the day when their brands are so large that it is time to finally go to the CA marketplace.And please do not take it from me, ask about the franchise industry, the state is the worst place to do business as a franchise business? The state, by the waste of resources with the Federal Trade Commission, cutting off the hand that is feeding.

Remember, we are hurting 2230 companies which account for 1 / 3 of every dollar that goes through the hands of consumers, that is 33%. No other business format can compete with a Wal-Mart store to the field, without theincredible synergies and economies of scale, franchising provides. Wal-Mart by the way Nationwide only 10%. The consumers of California deserve a break, the franchising community is drowning in paperwork can the DOC this task is not fast enough and it all made it to the top is a complete duplication of rules? With the DOC's budget cuts will slow processing further if, in fact, if you can franchise department is closed at the DOC, you increase per year and millions of capitalInflows and jobs to the state and greater inflows of tax revenues into the city, county and state governments. This is not really a very tough decision, whether you cut it, there's no better place than the DOC franchising division. If you keep the rates so, maybe lower it to $ 400.00 per year for "franchise application (Application can be made online and will be taken or sent in registration fees by credit card if you need links for this assistance, would I mean volunteer web team withoutfree and have them) to run a week and have the franchise agreement donor to abide by the rules of the Federal Trade Commission on Franchising (this is done in both FL and TX, where no problems have been consulted), and observe the franchisor of this country to come and in the creation of enterprises for the unemployed, California's, to make use of $ 60,000-100,000 per year so they can pay income tax to the state, through the establishment of franchise companies and employs more people.

This franchise unitscreate by providing jobs, the sales tax for cities who tell me they are good use of it could be something now, even with the recent release of funds to them, black negroes. This is also the growth in commercial real estate tail, and fill some of the buildings that are empty, with warm bodies to make a living and pursue their dream. The average consumer in Canada lives in a house they put up to 3%, refinanced twice, driving an SUV they bought for zero / zero and tried to do for soccerfind out their 2.2 children and how they develop their effect all those credit cards and student loans for degrees that do not help them in the future. Surely you can the real problems and this simple solution. Our company has estimated that we could only 4,000 jobs in the U.S. state of California do in three years, but we have concentrated in 23 other states on this nation. Please respect the truth, we harm the business, I myself have worked hard all my life in order to build aBusiness and my part to strengthen our state and my country. Help me with the regulatory nightmare and I and all my fellow franchisors will help you resolve this problem. When I started my company at age 12, I was told that I am a part of the ten percent of California's, the self-employed workers that we were together 2 / 3 of the people and that I and my fellow entrepreneurs have been useful.

If so, then why do not we duplicate and layer all registrations, applications, forms, rules, etc.on the other, a clear and present message that California is all show and no go and that we do not believe in small companies or as entrepreneurs. If you continue this negative message and if that is true, then how can we believe? Would you please delete the franchise division of the Department of Corporations, as it an unnecessary division of that department. This can be reached as follows: 1). Save the taxpayers, 2.) help, economic growthCitizens through the use of 3). Generate tax revenues, my condition 4.) send a signal to the franchising and marketing that California means business Please help me, I can help them and they can help you and you can serve us, and we all can live together free , feed our families and enjoy everything that makes California the largest state in the country.

Signed, The Entrepreneur.

Crash Course: Chapter 13 - A National Failure to Save by Chris Martenson

a ruthless policy of the accumulation of debt that will save and invest in defiance to say something to Dr. Martenson that the U.S. is insolvent. Bankruptcy, which occurs when those liabilities exceed assets, is in the first step on the road to bankruptcy. www.chrismartenson.com ... Finance financial crisis, economic collapse economic crash course depression 1929 peak oil renewable energy exponential fiat currency money exchange gold silver inflation Iraq war ron bailout Bernanke chris Martenson...



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Fat Choi Spirit (嚦咕嚦咕新年財) - Part 9

Starring: Andy Lau, Louis Koo, Sean Lau Ching Wan, Gigi Leung, Cherrie Ying, Angela Tong ... Genres: Comedy 2002, Hong Kong Movies Cantonese Version Andy Lau Tak Wah as a "Mahjong Warrior", whose dependence on Mahjong caused eventual bankruptcy of his family. However, he succeeded to his game as he blessed by Wing Kei (Gigi Leung) rotation. Wing-Kei is a sweet girl who would do anything for Tak Wah, to the detriment of everyone who comes into her path. Tak-wah wants to marry, ...



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Roubini: Worst Recession in 40 Years - P1

. The U.S. government needs to buy bank equity and force lenders to eliminate dividends to double-click to save it from bankruptcy, Roubini has. Treasury Secretary Henry Paulson said today he intends to use 250 billion U.S. dollars of taxpayers' money to threaten the equity in thousands of financial firms to purchase a credit crunch that the companies go into bankruptcy and eliminate jobs in its tracks. `` This is the first round of recapitalization of banks,''Roubini said. `` The government has ...



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Nationalization of GM--Good or Bad?

Why is not everybody happy about the government-orchestrated filing of bankruptcy by General Motors? Why is there serious concern about the nationalization of GM? Will the US government really play only a passive role? Commentators don't believe that that promise is credible. They are afraid, in light of President Obama's actions so far, that GM will become a pawn in his hands. ... recession depression Obama GM nationalization Bible



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California Motorcycle Accidents - How to Settle

Every state has a variety of arrangements for motorcycles. Some states have come with ways and means of partial responsibility for accidents, others are not. Some demand the wearing of helmets, while others leave the choice to riders. Equipment maintenance and inspection work arrangements are different, too. No matter where you are, in the case of a motorcycle accident, it is worth your time to find a lawyer who specializes in motorcycle statutes.

While some victims try their sloughWay through the sea of bureaucracy as such, it is not always the wisest action after an accident. Firstly, there is a limit to the time when you can make a claim, and if you miss it, you can not do anything. Second, a motorcycle lawyer employed statistically increases the chance of a higher settlement. Face it, understand the legal system. You know to use the tactics of insurance companies and fellow lawyers to successful settlements to avoid. For example, it is notconsidered unusual for them to use prejudice against motorcyclists when, in a case.

Motorcycle lawyers are knowledgeable to know in these cases and, more reasons for the demand for higher settlements. Perhaps you only pay for medical bills and motorcycle repair. An experienced attorney, however, is to seek damages for things you probably never thought how the loss of future wage-earning capacity and pain and suffering. You could fight with insurance companies for monthlittle success and run around a lot, but a lawyer with a 98.7% success rate settlement is to handle the matter and efficiently! This trust is by a promise that no fees are due until a solution is assured, achieved.

Why in your misery after a motorcycle accident California? Instead of plodding through the settlement process itself, why not questions about a professional? They worry about healing and cycling that again and again on the road! Leave the insurance andlegal trouble for a first-class motorcycle lawyer.

Five Star interview on ...

TV program with clips from the 80s mixed with interviews from the year 2003. Cars, music, bankruptcy, newspaper allegations. With Stedman, Doris, Lorraine, and Buster (Dad) Pearson. 5 Stars ... Five-star 80s eighties 1980s denise doris Eric Dolphy



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2007 MITSUBISHI GALANT

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In-Depth Look - The Bankruptcy Question - Bloomberg

Interview and discussion with Harvey Miller of Weil, Global & Manges. He talks about the Chrysler bankruptcy. (Bloomberg News)



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Common Debts That Are Discharged by Bankruptcy

Under the Federal Bankruptcy Code individual consumers to discharge debts in bankruptcy, which allows them to start anew. Petition in bankruptcy brought about remain the "automatic." The automatic stay immediately stops your creditors from attempting to collect what you owe to them. If you register under Chapter 7 bankruptcy, many of your debts will be canceled without repayment. Could in turn, you have to forego some of your nonexempt property.Property that is tax exempt and will not be waived would be motor vehicles, clothing, household pension and life insurance. The entire process takes about three to six months, and most often requires only one trip to the courthouse.

Joint debts are discharged in Chapter 7 bankruptcy are:
(1) credit card debt, (2) Utility [telephone, gas and electric service] debt, (3) debts for professional services [doctors, dentists, lawyers, accountants], (4)Anticipated losses on uncompleted contracts and leases (5), department stores and catalog fees, (6) Personal loans (7) and federal tax liability.

Chapter 13 bankruptcy allows that person to repay a portion of their debt with court supervision, within three to five years. Chapter 13, you can arrange your finances, repay a portion of the debt and sat down again on your financial feet. Under a typical plan, that the monthly payments to a bankruptcy trustee, , Who appointed by the bankruptcy court to oversee your case. The bankruptcy trustee distributes the money to your creditors.

The most common reasons for filing a Chapter 13 bankruptcy are:
(1) The debtor is behind on his mortgage or car loan and wants to make up the missed payments over time and again the original agreement, (2) The debtor has valuable nonexempt property, (3) The debtor is not eligible for a discharge under Chapter 7[> Bankrupt the debtor has a prior Chapter 7 bankruptcy within the past 6 years brought], (4) The debtor has one or more substantial debts that are not dischargeable under Chapter 7 bankruptcy, but will be dischargeable [certain tax credits under Chapter 13 bankruptcy claims], (5) The debtor has a sincere desire to do to repay his debts, but needs the protection of the bankruptcy court to do so.

In many cases, bankruptcy of the debtor is a free federal,state or local tax bill that the bankruptcy is filed schedules included with the petition. Our company specializes in meeting the income tax, property tax, payroll withholding and employer employment taxes, sales tax, business tax and employee benefits in bankruptcy.

If you want to attend a meeting to arrange to discuss these issues in detail, please call us and we look forward to the best plan to discuss achieving your goals.

Commonly Asked Questions of an Elder Law Attorney - Part I

Many of the questions that are asked of me to be repeated quite often, so I thought it would be helpful for the older law issues in the next few articles to discuss.

I want to leave my fortune, my children, but there is a possibility that the assets of a future divorce or creditors to protect my child? Money left to children can disappear for a variety of reasons - divorce, bankruptcy, litigation or bad investments, to name a few. One way to protect the family money, isthe use of a trust.

Mary and John have four grown children, all with varying degrees of financial success. Dennis, who has the oldest and most successful financially, no need for financial assistance from his parents. Judy, next in line, unfortunately, been through a terrible divorce and fighting for her son on his own to raise. Paula and Frank are both married but their marriages have had their ups and downs. Paula's husband was aware of their limited resources to invest, notget-rich-quick schemes. Frank has just borrowed a lot of money to start his own dental practice.

Parents never stop worrying about their children, and Mary and John are no exception. It's about more divorces, worried about whether Judy will have enough money, whether Frank is thriving-business, or whether he will be sued by a patient. They are also concerned that it has enough money for their grandchildren.

So what can Mary and John do to make sure what assets theyleave actually helps their children and grandchildren? The answer is to use a trust in their estate planning. Trusts after the death of parents by the children's lives and resume, if the grantor chooses, during the term and the grandchildren. The funds are for the benefit of the children and grandchildren, but limits are placed on access to the Trust Fund. The assets are there when needed, but can not be spent on a whim. This restriction provides the necessaryProtection.

The funds are protected from the confidence of creditors in the event of insolvency. As the creditor, the plaintiff in proceedings can not be trusted until the. Funds left for the benefit of Frank will not be available if he ever sued for dental malpractice. In addition, the funds are not considered marital system in case of divorce. A properly prepared trust your family's protection from creditors, the liability of the plaintiff and a future divorce.

An independent trustee can protect themselves confidenceRecipients of bad decisions, whether it is foolhardy to risky investments or expenses. While parents do not protect their children from bad luck, they can create a cushion for them, if it occurs. Some beneficiaries of trust property not under the complete control and access to the fund. This is a trade-off. Do the benefits outweigh the disadvantages? You will have to decide what is best for your situation.

I have a disabled child. How can I best provide for their future well-being? One of thethe main concerns for parents with children with disabilities, as they give their financial future. Here are some legal guidelines are observed:

Buy enough life insurance. A parent is irreplaceable, but someone has to fill in all likelihood that a person or family must be for at least some services provided for the parent, if able. If the property is not large enough for this purpose, it can be made large enough to go through life. Premiums forsecond-to-die insurance, which pays off only when the second of the two parents passes away, can be surprisingly low.

Set up a Special Needs Trust. Any funds left for a disabled child, whether from an estate or the proceeds of a life insurance policy, should be held in trust for his or her benefit. Leaving money for anyone with a disability jeopardizes public benefits. Many people with disabilities cannot manage funds, especially large amounts. Some families disinherit disabled children, relying on their siblings to care for them. This approach is fraught with potential problems. Siblings can be sued, get divorced, disagree on their responsibilities, or use the funds for their own benefit. It can also cause tax problems for siblings. The best approach is setting up a trust fund set aside for the disabled child, known as a Special Needs Trust.

Prepare a Will and include the appointment of a Guardian. While a Will and the appointment of a guardian is important for anyone with minor children, it is doubly so if the child is disabled. Finding the right guardian can be difficult. In some cases, the care of the child is so demanding that he or she will need a different guardian from his siblings. The parents must make these decisions, while they can.

Have a care plan. All parents care for disabled children to write down what any successor caregivers must be aware of the child, and what the wishes of the parents would have for hiscare. For example, the child should be in a group home, living with a sibling or on its own? Normally, the parents know best, but they need to disclose the information. Can you explain what helps, what hurts, what scares you, their children and what they insured.

Consultation with other family members. Even a carefully developed plan can be from a well-meaning relative who leaves money directly undermines the child with a disability. If a special needs trust is created for the benefitthe child's grandparents and other family members should be told about it so that it provided a legacy they wish to leave the child trust through direct.

McCain: Fundamentals of Economy Are Strong

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