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You don't want to give up your home equity. There is a limit to the amount of equity you can have and still file BK. Usually it is around $50K; it varies by state.
The trustee often takes a commission of up to 10 percent, adding to the cost of this form of bankruptcy. The long-term costs of bankruptcy Beyond the immediate cost of bankruptcy, filing can have ...
Congress enacted the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) to address perceived abuses of the bankruptcy system. [1] One of the biggest changes, called the "heart" of the Act's "bankruptcy reforms," [2] was the adoption of the means test for use in Chapter 13 bankruptcy proceedings. Chapter 13 requires debtors ...
The law also allows filing fees to be waived for debtors earning below 150 percent of the federal poverty level. Increased attorney liability and costs. Attorneys representing bankruptcy filers are now required to conduct an investigation of their clients' filings and can be held personally liable for inaccuracies.
You should get a refund if you paid your attorney an upfront fee for the service of preparing your file for Chapter 13 bankruptcy (or as an advance against hours worked) and the attorney didn’t ...
[10] [13] In coverage by Bloomberg, water rights attorney Greg James stated, "You need a large amount of money and some very powerful people to make water projects happen". Bloomberg notes that Harry Reid's son Rory is an employee of Whittemore's law firm and was the vice-chairman of the Southern Nevada Water Authority from 2003 to 2008. [10]
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