Michigan Bankruptcy and 1040 Income Taxes. Yes, provided the 5 following rules are met: 1. The taxes at issued must be 1040 Income Taxes. Taxes such as payroll taxes, trust fund taxes, sales tax or fraud taxes are treated differently. 2. The 3 Year Rule. The income tax return for which the taxes are owed [...]
Bankruptcy in Michigan
Category Archives: Michigan Bankruptcy
Scam Alert – Global Client Solutions & The World Law Group rip off Michigan couple!
Michigan Bankruptcy SCAM ALERT. I just retained a client who had been scammed by Global Client Solutions based out of Tulsa Oklahoma and The World Law Group based out of Austin Texas. These slick grifters convince people that they can eliminate all of your unsecured credit card debt in as little as 4 years. My [...]
Bankruptcy in Michigan- What happens if you fail to include a creditor in your bankruptcy in Michigan filing?
Michigan Bankruptcy Failure to list Creditor. Any time you correct or add a creditor to your michigan bankruptcy matrix you want to send them a copy of the 341 notice. You will also need to amend your Schedules including the creditor and pay the appropriate fee and file the amended Schedules and Cover Sheet for [...]
Bankruptcy Michigan – What happens to the rent money when your rental property is foreclosed on in Michigan?
Michigan Bankruptcy and Rental Property Rent Money. After you file for bankruptcy in Michigan, the rents from your rental property become property of the estate. The trustee exercises full authority and control over those rent monies. The only way that the mortgage company can get control of the rents is to file a motion with [...]
North Carolina Bankruptcy Judge Denies Debtors’ Motion to Convert from Chapter 7 to Chapter 13 Due to Bad Faith
Michigan Bankruptcy and Chapter 7 to 13 Conversion. The Chapter 7 Debtors failed to disclose in their petition their interests in various real estate partnerships and multiple foreclosure proceedings, which the Chapter 7 Trustee discovered through reviewing the Debtors’ tax return and public records. The Debtors then sought to convert to Chapter 13 and the [...]
Michigan Bankruptcy – District Court Decides Stephenson – Says Inherited IRAs Fully Exemptable
Bankruptcy in Michigan Inherited IRAS. Debtors Daniel and Janet Stephenson appealed an Order in their Ch. 7 bankruptcy to the U.S. District Court, Eastern District of MI, Southern Division. The Standing Trustee’s objections to their claimed exemptions had been sustained. Among their assets, the Debtors listed three inherited IRAs, exempting them in full through the [...]
Bankruptcy in Michigan – Reviewing Court Can Comment About A Factual Finding Being Mistaken
Michigan Bankruptcy- Reviewing Court and Ruling on comments. A visiting bankruptcy judge presided over an evidentiary hearing on objections to certain claims filed. There were numerous related adversary proceedings pending. During the hearing the Liquidation Trustee submitted a proposed Dismissal Order, with the disclaimer that applicable parties disagreed over the terms. The Bankruptcy Court for [...]