John T. Turco and Associates, P.C., L.L.O. Omaha Bankruptcy Attorney

11/08/2021

If you owe child support, a bankruptcy will not change your obligation to pay the child support, and it will not discharge any delinquent amounts owed. That does not mean, however, that your other debts cannot be discharged.

Can child support debt be discharged in bankruptcy? Johnny Turco answers this question and provides details on how this is handled in Chapter 7 and 13 bankruptcy.

09/07/2021

What Is a Bankruptcy Discharge?

In short, a discharge in bankruptcy is the formal court order that wipes out your obligation to pay a debt. That means you do not need to repay a debt that has been discharged. A bankruptcy discharge also means that no one can attempt to collect a discharged debt from you, including by contacting you, sending you letters, or suing you.

In short, a discharge in bankruptcy is the formal court order that wipes out your obligation to pay a debt.

08/09/2021

An emergency bankruptcy is just like it sounds – something financially urgent and of an emergency nature comes up and fast action needs to be done to stop it or very bad things could or will happen.

While bankruptcy is ideally something that is well researched and contemplated before filing, that is not the way most bankruptcies come about in the real world. Emergency filings often center around the filing of a lawsuit, wage or bank account garnishments, or, more seriously, a house foreclosure.

Bankruptcies are powerful and literally stop imminent collection, repossession, and foreclosure action if you file in time.

An emergency bankruptcy filing often center around a lawsuit, wage or bank account garnishments, or, more seriously, a house foreclosure.

05/24/2021

Bankruptcy exemptions are laws that allow you to protect certain property when you file a bankruptcy. In a Chapter 7 bankruptcy, exemption laws determine what property you can keep. In a Chapter 13 bankruptcy, exemption laws may be a factor in determining how much you have to pay back to your unsecured creditors.

Johnny breaks this topic down in our latest post. Click the link to learn more about this subject.

Bankruptcy exemptions are laws that allow you to protect certain property when you file a bankruptcy. In a Chapter 7 bankruptcy, exemption laws determine

05/10/2021

Did you know you can file for bankruptcy more than one time? You can file bankruptcy twice, however, if you want to receive a discharge of your debts in a subsequent bankruptcy, you must wait a certain period of time. How long you have to wait depends on the chapter of bankruptcy you previously filed and the chapter you want to file in the future.

Can you file bankruptcy twice? Yes you can and here are all the details you need to know about filing, dates, and options.

05/04/2021

Bankruptcy was created to help people get a fresh start when unanticipated financial disaster hits. The Covid-19 pandemic is a great example of unanticipated financial hardship.

Covid-19 and the switch to staying at home created a new environment for gig workers. While it helped drive new clients for grocery and takeout delivery services like Instacart, Shipt, UberEats, Grubhub, and DoorDash, it created a financial nightmare for Lyft and Uber drivers. Healthy Uber driver incomes disappeared overnight.

So what options do gig workers have? What can they do if they’ve fallen into financial hardship?

Bankruptcy is available to gig workers who are partially or fully self-employed. If you’ve found yourself in unraveling circumstances with substantial unpredictability, bankruptcy can provide debt relief. There are various types of bankruptcies available, although Chapter 7 and Chapter 13 are the most common. For those with substantially more debt, Chapter 11, Subpart V becomes an option to consider, which in major part, is similar to how Chapter 13 works with a few perks and disadvantages as well.

Read the full post:
https://johnturcolaw.com/blog/bankruptcy-in-the-gig-economy/

03/17/2021

Beware of attorneys that have recently begun a new fee scheme for Chapter 7 bankruptcy cases where they state that upfront Chapter 7 bankruptcy costs only $75.00 to just a few hundred dollars.

In this blog post, I walk through the real costs so you can do an apples to apples comparison and protect yourself.

In 2021, for the average person or couple filing a Chapter 7, the average cost to file a consumer bankruptcy in Omaha, Nebraska is around $1,750. On the

07/09/2020

https://johnturcolaw.com/looking-for-a-cheap-bankruptcy-lawyer-do-your-research/

If you are needing legal help to consider your options with financial problems and specifically with a possible bankruptcy filing, it is natural to want to get it done as cheap (and as good) as possible.  In the world of Amazon, Facebook, and Google, many of us spend a lot of time doing research to...

06/23/2020

https://johnturcolaw.com/bankruptcy-during-coronavirus-prepare-now/

Prior to the Coronavirus pandemic, it was common to hear that Americans were experiencing the best economy ever.  Overall, unemployment was near 3.5% according to the U.S. Bureau of Labor Statistics in January of 2020.  The same source indicates that unemployment rose to 14.7% in May of 2020!  Wo...

09/22/2015

https://johnturcolaw.com/scary-new-trend-on-wiping-out-tax-debt-in-bankruptcy/

Scary new trend on wiping out tax debt in bankruptcy. Three Circuit Court of Appeal courts have ruled that filing your tax return, denies a tax discharge.

01/20/2015

Wells Fargo Bank gets HAMMERED by Nebraska Bankruptcy Court: https://johnturcolaw.com/?p=6711

12/23/2014

https://johnturcolaw.com/?p=6501

My last two blogs have focused on wiping out student loan debt. The first blog, Wiping out Student Loans in bankruptcy is difficult discussed the general guidelines to obtaining a discharge of a student loan in a bankruptcy proceeding. In general, it is a very challenging and frequently fruitless…