Fifth Circuit Court of Appeals Rewrites The Bankruptcy Code

by Paul R. Tom News, Updates, Law Changes

 Linda Trenett McCoy hadn’t filed her Mississippi income tax returns for 1993 through 2000.  By September of 2002, the Mississippi State Tax Commission (“MSTC”) had made no-file assessments (MSTC’s version of IRS’s SFR) for 1993 through 1997 and for the year 2000.  However, MSTC had not assessed tax against McCoy for 1998 or 1999.  On September 11, 2002, McCoy filed … Read More

Will My Employer Find Out? Will I Be Discriminated Against After Bankruptcy?

by Paul R. Tom Basic Bankruptcy Information, News, Updates, Law Changes

Your employer generally has no way of knowing that you have filed a Chapter 7 bankruptcy proceeding. The bankruptcy court will not contact your employer, nor will your attorney. Usually the only way that your employer may know that you filed bankruptcy is if your employer is also a creditor, or if your employer has received a garnishment on your … Read More

What Debts Can’t Be Eliminated In Bankruptcy?

by Paul R. Tom Basic Bankruptcy Information, News, Updates, Law Changes

Although the type of debts which can be eliminated in Chapter 7 and Chapter 13 are quite different, certain debts cannot be discharged in either proceeding – for example, debts such as child support, support alimony, property settlements, criminal fines/restitution, and damages arising from drunk driving. However, you may be able to repay obligations of these types in a Chapter … Read More

When is a Chapter 13 Bankruptcy Preferable to a Chapter 7 Bankruptcy?

by Paul R. Tom Basic Bankruptcy Information, News, Updates, Law Changes

Chapter 13 is usually preferable to a Chapter 7 when you need or want to reorganize and repay your debts. Examples include preventing repossession of your car, foreclosure of your home, taxes, fines, restitution, student loans, and child support delinquencies, as well as getting your driver’s license back. When your home is set for foreclosure sale because you are behind … Read More

Launching the Oklahoma Bankruptcy Blog

by Paul R. Tom News, Updates, Law Changes

We know you have questions, and probably wonder whether you’re alone. You’re not. We promise you… after thousands of Oklahoma bankruptcy cases, we know the unexpected, the unplanned, the plain old unfortunate and a variety of other reasons and situations put good people in the position of needing to declare bankruptcy. The federal bankruptcy laws exist for just that reason: … Read More