For many, the initial response to being sued is to panic and avoid the reality that the creditor has taken the steps to get paid by filing a lawsuit. Typically, before a creditor can garnish your wages or seize any assets, there needs to be a judgment against you, which is a court order stating…

At the bankruptcy court hearing called the First Meeting of Creditors, the Trustee, an attorney assigned to oversee your bankruptcy case, will typically ask whether you expect to receive an inheritance in the next six months. Almost every person responds with a laugh followed by a brief “no” or “I hope not.” Most people find…

Living on a fixed income is difficult for many older Americans. Over the course of time, there has been a shift to individuals bearing a higher burden of financial risks. Gone are pensions. Health insurance is more of the burden on the insured than before. Savings are usually not sizable enough to cover an unexpected…

Filing for bankruptcy is not something that most people want to do. However, it may provide the best, most straightforward solution to dealing with overwhelming debt. Many people struggle for months and even years before they decide to take the first step to a fresh start by setting up a free bankruptcy consultation. During the…

Dealing with debt can be overwhelming. Your path to a fresh financial start doesn’t have to be. The Chapter 7 bankruptcy process can be broken down into 7 clear steps. Meet with an experienced bankruptcy attorney. During a free initial consultation, a bankruptcy attorney will listen to and analyze your situation to determine whether or…

How many times have we placed our trust in someone just to later be disappointed when what the other person told us was either misleading or a downright lie?  So many business transactions or deals are done based upon what the parties have said without memorializing anything in writing. When it comes to incurring debt,…

With the current state of the farm economy in Nebraska, many family farmers are considering their options for dealing with overwhelming debt. In many situations, the farmer owes one bank who in turn has a lien or security interest in all of the farmer’s assets (land, equipment, machinery, fertilizer, etc.). Failure to pay short-term or…

A chapter 13 bankruptcy, which involves a 3-5 year repayment plan, is almost always a better option for the financially distressed than the current status quo. I use the analogy of the ever-growing gobstopper. Without filing bankruptcy, you pay your monthly minimum payments on your credit cards. Because you’ve made those payments, you end up…

“I can just give my truck to my brother, right?” Many clients and prospective clients have asked me some variation of this question. The quick answer is an outright “no” because doing so may be a fraudulent transfer. Under Nebraska State Law, a person cannot simply transfer an asset without receiving reasonably equivalent value in…

Divorce and debt typically go hand-in-hand. The interplay of bankruptcy and domestic support obligations can be complex. What follows is a brief overview of the impact a bankruptcy has on you if you are the person paying the obligation or the person receiving the support payment. Person Paying Child Support/Alimony Files Bankruptcy In Nebraska, you…