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What Are the Tax Consequences of a Short Sale?

Don't Find Out After the Short Sale Is Concluded!   The tax consequences of a short sale are usually not the first thing that a realtor wishing to earn a commission off of a property transaction wants to talk to you about. It may be something...

Business Debt and the Chapter 7 Means Test

Business Debt in Chapter 7 Bankruptcy: Consumer vs. Non-Consumer Chapter 7 Non-Consumer Chapter 7 Bankruptcy Cases: No Means Test Required! There are some significant advantages in Chapter 7 Bankruptcy to having "mostly" business or...

Property Taxes in Chapter 13 Bankruptcy in Michigan

Property Taxes in Chapter 13 Bankruptcy: Paid or Not, and at What Priority if So? Are Property Taxes "Priority Unsecured Debts" in Chapter 13 Bankruptcy? Property taxes in Chapter 13 bankruptcy in Michigan are classified according to certain...

Are Assets in a Trust Protected in Bankruptcy?

What Sort of Trust & Whose Bankruptcy? Placing assets into a trust is not always an effective means of protecting those assets from creditors, or, thereby, from the asset liquidation power of Chapter 7 Bankruptcy Trustees. Trust Assets and...
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