Espy, Metcalf & Espy Legal Blog

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Espy, Metcalf & Espy Legal Blog2018-09-22T08:23:01-06:00

Credit After Bankruptcy

Most people believe that if you file bankruptcy your credit will be ruined. While it is true that filing a bankruptcy case will affect your credit, it does not mean that you cannot re-establish credit after your bankruptcy case is over.   Most people who file bankruptcy have already taken [...]

By |September 20th, 2018|Bankruptcy, Chapter 11, Chapter 12, Chapter 13, Chapter 7|

Hurricane Florence & the Potential Financial Devastation

Hurricane Florence made landfall this past Thursday evening with the coastline of North Carolina taken the brunt of the impact.  Hopefully, the threat to human life will be minimal with evacuations occurring prior to landfall but what will likely be inevitable is the destruction to residences, businesses, infrastructure, etc. that [...]

By |September 19th, 2018|Asset Protection, Community, Consumer Protection|

Exempt and Non-exempt Property Under Chapter 7 Bankruptcy

People who file for bankruptcy seek protection from their creditors for the debts they have incurred. The U.S. Constitution gives this power to the federal government, and the federal government has established U.S. Bankruptcy Courts to handle bankruptcy proceedings across the country. When a person files for bankruptcy protection, he [...]

By |June 4th, 2015|Bankruptcy, Chapter 7|

Chapter 12 Bankruptcy: How It Works

The following is an overview of the early course of a typical Chapter 12 bankruptcy case. See Chapter 12: Basics and Eligibility for an overview. Filing the Petition This type of bankruptcy case begins by filing a petition with the bankruptcy court serving the area where the individual [...]

By |May 29th, 2015|Bankruptcy, Chapter 12|

Common Mistakes Made on the Bankruptcy Means Test

The means test is often the starting point for anyone who is filing for bankruptcy. It determines if you are eligible for Chapter 7 bankruptcy, and impacts your plan length in Chapter 13 bankruptcy. The means test is a complicated form, and mistakes are common. Read on to find out [...]

By |May 24th, 2015|Bankruptcy, Chapter 13, Chapter 7|

Chapter 11 Bankruptcy: An Overview

Chapter 11 usually makes it to the news when large corporations fall into financial distress and need bankruptcy relief. Corporations that have filed Chapter 11 include General Motors, United Airlines, Lehman Brothers, and K-Mart. Most Chapter 11 cases, however, never hit the news. In 2010, for example, close to 14,000 [...]

By |May 21st, 2015|Bankruptcy, Chapter 11|

Chapter 13 v. Chapter 11 Bankruptcy for Small Business Owners

For a small business in financial distress, bankruptcy may be the only viable option. There are two restructuring options under bankruptcy law for debtors who want to try to stay in business: Chapter 11 and Chapter 13. For a "straight" or "liquidation" bankruptcy: Chapter 7. General Overview To [...]

By |May 17th, 2015|Bankruptcy, Chapter 11, Chapter 13|

What Medical Conditions Qualify for Social Security Disability or SSI?

An illness or disease does not need to be listed in Social Security's blue book to qualify for disability benefits. The Social Security Administration's impairment listing manual (called the blue book) lists a number of impairments, both physical and mental, that will automatically qualify an individual for Social Security [...]

By |May 12th, 2015|Social Security Disability|

How to Win a Social Security Disability Claim Faster

To make sure your disability claim progresses as quickly as possible, be thorough in your application and keep on top of the status of your case. Getting approved for disability benefits in the Social Security disability or SSI disability program can take a long time, and for those whose savings [...]

By |May 5th, 2015|Social Security Disability|

8 Essential Tips from a Social Security Disability Examiner

Here's some advice from a former examiner on applying for and winning your SSDI or SSI disability case. 1. Don't Wait to File for Disability If you are disabled and unable to work, it's good advice to pursue a claim for Social Security disability and get it filed immediately. Reason: [...]

By |April 30th, 2015|Social Security Disability|

Who Can File for Chapter 7 Bankruptcy?

Prior to October 17, 2005, it was largely up to a bankruptcy judge to decide whether a debtor met Chapter 7 requirements. Judges, therefore, could use substantial discretion when assessing the debtor's financial situation. As a result, under the old law, most filers chose to have debt discharged even if [...]

By |April 28th, 2015|Bankruptcy, Chapter 7|

Chapter 12: Basics and Eligibility Requirements

Chapter 12 is designed for "family farmers" or "family fishermen" with "regular annual income." It enables financially distressed family farmers and fishermen to propose and carry out a plan to repay all or part of their debts. Under chapter 12, debtors propose a repayment plan to make installments to creditors [...]

By |April 24th, 2015|Bankruptcy, Chapter 12|

The Difference Between Social Security Disability and SSI

Both SSI and SSDI disability programs offer cash benefits for disabled individuals, but the financial eligibility requirements are very different. The main difference between Social Security Disability (SSD, or SSDI) and Supplemental Security Income (SSI) is the fact that SSD is available to workers who have accumulated a sufficient [...]

By |April 19th, 2015|Social Security Disability|

5 Reasons You Should Create a Last Will

Although Wills and estate planning laws do vary state to state, one rule holds true: if you don't have a Last Will and Testament, the Government makes one for you. That means your assets and estate are distributed according to the generic laws in your state. Generally, this means the [...]

By |April 15th, 2015|Asset Protection|

10 Reasons Why Financial Plans Aren’t Just For The 1%

Studies show that a comprehensive financial plan can benefit people at all income levels — but not a lot of Americans know this. Only 31% of financial decision makers in families say they have created a comprehensive financial plan either on their own or with professional help, according to the [...]

By |April 1st, 2015|Asset Protection|