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Bankrupt Debtor Who Own an Animal(s)
A debtor in bankruptcy is required to list animals as assets on the bankruptcy schedules filed with the court. In chapter 7 bankruptcy if the animal is not exempt then it is possible for the animal to be sold just as any other…
Chapter 13 Bankruptcy Cases: The Applicable Commitment Period is a Temporal Requirement
In a case just decided March 28, 2014, the Court of Appeals for the Fourth Circuit issued its opinion in Pliler v. Stearns (In re Pliler), No. 13-1445, 2014 WL 1259569 (4th Cir. Mar. 28, 2014), holding that the Applicable…
Bankruptcy Exception to Paying Income Taxes on Cancelled or Forgiven Debt
When it comes to overwhelming debt, there are options to consider and bankruptcy is just one of those choices. A consultation with a bankruptcy lawyer should not feel like asking a barber whether or not you need a haircut. Depending…
Philip Sasser Certified as Specialist in Business and Consumer Bankruptcy Law
Sasser law Firm attorney, Philip Sasser, was recently certified by both the North Carolina State Bar and the American Board of Certification (ABC) as a specialist in both Business and Consumer Bankruptcy Law. Philip, an associate with Sasser Law Firm…
February 2014 Bankruptcy Statistics
February 2014 bankruptcy filings totaled 72,193 in the United States. According to the American Bankruptcy Institute, this is a 12% decrease from the 82,336 bankruptcy filings in February 2013. In comparison to last month, February 2014 filings increased approximately 6%…
Tax Liens Not Avoidable in Chapter 7 Bankruptcy Cases
Although some tax liabilities can be discharged in Chapter 7 bankruptcy, tax liens are not avoidable. If a taxing authority (e.g. Internal Revenue Service or NC Department of Revenue) has recorded a tax lien on a debtor’s property before filing for…
Nondischargeable Debt: Defalcation or Breach of Fiduciary Duty
Bankruptcy can be daunting, especially when dealing with nondischargeable debt. Not everything is lost, though. If you’re in North Carolina, take some time to learn about the concepts of defalcation and breach of fiduciary duty to learn what you can…
Bankruptcy May Help With a Driver License Problem Related to Unpaid Debt
In North Carolina and many other states, driving without proof of insurance and not paying traffic violation fines can lead to a suspended drivers license. Perez v. Campbell, a 1971 case decided by the U.S. Supreme Court, stated that if…
What Good is a State Court Judgment in Bankruptcy?
In a bankruptcy case, certain kinds of debts are not discharged. Recent tax liability, most student loans, and domestic support obligations are some of the most common examples of non-dischargeable debts. Other kinds of non-dischargeable debts are determined by very fact-specific examinations…
Sbarro LLC Files for Bankruptcy
The struggling pizza chain, Sbarro LLC, has filed for Chapter 11 reorganization for the second time in three years. Sbarro previously filed for bankruptcy protection in April 2011, emerging from bankruptcy in November 2011 saying that it had severely cut…
