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March 3, 2020 by Moellring & Ambler

Bankruptcy & Tax Refunds

Bankruptcy & Tax Refunds Each year, many people receive substantial tax refunds.  If they are facing a lot of debt, they must decide whether using the tax refund to pay creditors will help them out of debt.  If a debtor has one major creditor and can negotiate a payoff with the tax refund, this may be a good option.  However, when a debtor has multiple creditors and paying one will not ease the debt burden, bankruptcy may be a better option. Some important factors when considering … [Read more...]

Filed Under: Bankruptcy Tagged With: bankruptcy, bankruptcy & tax refunds, Bankruptcy Attorney, bankruptcy lawyer, Hannibal Bankruptcy Attorney, Quincy Bankruptcy Attorney

November 1, 2016 by Moellring & Ambler

CHAPTER 7 vs. CHAPTER 13 BANKRUPTCY

I am often asked, what is the difference between chapter 7 and chapter 13 bankruptcy? Chapter 7 is a type of bankruptcy in which a debtor gets a fresh start. Chapter 13 is a type of bankruptcy in which a debtor pays all or a portion of his debt in a plan. CHAPTER 7 There are many factors which determine which type of bankruptcy is best for an individual.  First, if a debtor has previously filed a chapter 7 bankruptcy, she must wait 8 years before filing another chapter 7. Second, high … [Read more...]

Filed Under: Bankruptcy Tagged With: Bankruptcy Attorney, Chapter 13, Chapter 7, Hannibal Bankruptcy Attorney, Marcia Moellring, Quincy Bankruptcy Attorney

August 29, 2016 by Moellring & Ambler

Do I have to go to Court to file Bankruptcy?

While there are instances where a court appearance may be required, most Debtors never have to appear in front of a Judge.  The only appearance that every Debtor filing bankruptcy must make is to the creditors’ meeting. Creditors’ meetings generally take place at a courthouse, but you don’t appear in front of a Judge.  Instead, the meeting is conducted by a bankruptcy Trustee, a court-appointed attorney. What is a Creditors’ Meeting? After filing bankruptcy, you will be scheduled to attend a … [Read more...]

Filed Under: Bankruptcy Tagged With: 341 Meeting, Bankruptcy Attorney, Creditors Meeting, Hannibal Bankruptcy Attorney, Marcia Moellring, Maria Moellring, Quincy Bankruptcy Attorney, Trustee Meetings

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