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Author Archives: George Bourguignon

Author Archives: George Bourguignon

Can I keep my assets if I file for bankruptcy?

15 April 2011 The answer is: most likely, but it depends. This, and other questions a person that is contemplating bankruptcy may have, are very important because of what is at stake — your assets (at a minimum). To understand the answer to this question, one must understand what is in (legal) operation during a […]

Indiana Bankruptcy Blog: Is it possible to be “too broke” for Bankruptcy?

Indiana Bankruptcy Blog: Is it possible to be "too broke" for Bankruptcy?Yes

Debt collectors and payment allocation

17 March 2011 If you are a debtor with multiple debts, chances are you may have one debt collector collecting on a number of them simultaneously. If this is the case, there are some additional considerations that you should bear in mind. There are numerous stories out there where a debtor has negotiated a payment […]

Payroll Taxes and the Internal Revenue Service (IRS)

2 March 2010 Business owners who are behind on paying their payroll taxes may find themselves in a big mess. The IRS requires employers to withhold money from their employees’ paychecks that those employees owe or will owe the government in the future. Federal law requires employers to hold these funds in “trust for the […]

Massachusetts foreclosure defense; what has Massachusetts done to help homeowners avoid foreclosure?

3 January 2011 States across the country have passed various laws to aid their residential homeowners to face the foreclosure crisis that has been sweeping the country. Massachusetts has passes two different Acts, the second largely building on the provisions of the first, directly aimed at helping Massachusetts homeowners keep their homes and avoid foreclosure. […]

Cash advances and bankruptcy, do they mix?

1 January 2011 Cash advances prior to bankruptcy are common, but do raise some concerns that should be addressed by a professional to assess the risk of bad results in a potential bankruptcy prior to filing. If the cash advances were recently taken, or as bankruptcy practitioners may describe as “on the eve of bankruptcy,” […]

Can I eliminate debt recently incurred from gambling by filing chapter 7 bankruptcy?

29 December 2010 Generally, debt that arises from gambling is not per se treated any differently under the bankruptcy code than any other unsecured debt. But if you have recently incurred gambling debt, it depends. Some initial questions: How recent was the debt incurred? How much is the debt? What were the circumstances? How long […]

Criminal trespass in Massachusetts exists under more than one Massachusetts statute.

20 December 2010 We have blogged about what would be referred to as the “general” criminal trespass statute, but there is one specifically addressing those “willfully and maliciously” entering a garden or the like, and destroying or stealing. It can be found in section 115 of chapter 266 of the Massachusetts General Laws; the general […]

I was sued by a bankruptcy trustee for a preference, what is a preference and what should I do?

14 December 2010 It can be quite confusing when receiving a letter from a bankruptcy trustee demanding money from you. This is especially true when you simply received payment for a debt that was owed to you. You may wonder, is something wrong with getting paid for a legitimate debt? Understand that, although usually when […]

Chapter 7 Bankruptcy & Utility Bills—What Happens?

13 October 2010 Utility bills, in one way, are just like any other unsecured debt—they are discharged in a successful chapter 7 bankruptcy. So, relief from the outstanding amount at the time of filing for bankruptcy can occur. But that is where the similarity to other unsecured debts ends. 11 U.S.C. § 366. Usually, a […]