Quick Answers to Bankruptcy Questions & Understand How Bankruptcy Laws Affect You

Archive for October, 2008

a question about bankruptcy please help?

Friday, October 31st, 2008
bankruptcy law

hi there here is the thing my husband owns fire arms and we put it on the papers but we didnt enclose how much value or how much they are worth we also didnt put down how many we have. and they are requesting info on them the thing is can we just say oh we were confused and say my borther in law ownes them or will they find out that the guns are registerd to my hubby i dont want to lie but i dont want to give up the guns we are not living a lavish lifestyle we only have two dressers and two tv’s one bed and two cribs with two couches and a table that is it do you think they can make him give them up what to do please help only honest answers please

How can congress pass legislation allowing bankruptcy judges to change terms on already written mortgages?

Wednesday, October 29th, 2008
bankruptcy law

It seems like this would be challanged (sucessfully) in court since the laws when the contract was signed didnt allow modification. I can understand how they could mandate that future mortgages are capable of being modified but not those already written… seems kinda like ex post facto.

What will the Democrat slogan be for 2008? ” The Do Nothing Liberals ” or ” We Can Blame Bush Party ” ?

Wednesday, October 29th, 2008
bankruptcy law

Any Democratic congressman or woman or Bi offer to reverse the bankruptcy law yet?

And you wonder why undocumented immigrants dont pay taxes?

Tuesday, October 28th, 2008
bankruptcy law

Posted: July 26, 2007
1:00 a.m. Eastern

By Bob Unruh
© 2007 WorldNetDaily.com

The Internal Revenue Service has lost a lawyer’s challenge in front of a jury to prove a constitutional foundation for the nation’s income tax, and the victorious attorney now is setting his sights higher.

“I think now people are beginning to realize that this has got to be the largest fraud, backed up by intimidation and extortion and by the sheer force of taking peoples property and hard-earned money without any lawful authorization whatsoever,” lawyer Tom Cryer told WND just days after a jury in Louisiana acquitted him of two criminal tax counts.

And before you consign him to the legions of “tin foil hat brigades” who argue against paying taxes, and then want payment to explain how to do that, he addresses the issue up front.

“These snake oil peddlers have conned millions of dollars out of many well-intended patriots and left a trail of broken lives in their wake. … These charlatans should be avoided, not only because they will lead you to bankruptcy and prison, but because by association they discredit those who are telling the truth,” he said.

The truth, he said, is where he comes in, with the launch of a new Truth Attack website that is intended to build on his victory, and create a coalition of resources to defeat – ultimately – the income tax in the United States.

Although the legal citations in the case tend to run the length of paragraphs, Cryer told WND the underlying issue is not that complicated. Essentially, he argued that income is not necessarily any money that comes to a person, but rather categories such as profit and interest.

He said the free exchange of labor for compensation has been upheld as a right by the Supreme Court, but that doesn’t necessarily make the compensation income.

If ever such an argument were to be presented widely, Cryer said, the income to the federal government would plummet. But not to worry, he said, the expenses could be reduced equally by eliminating programs, departments and agencies that also have no foundation in the Constitution.

“The Founding Fathers intentionally restricted the taxing powers of the new federal government as a measure of restraint on its size. By exceeding that limited taxing authority the federal government has been able to obtain resources beyond its intended reach, and that money has enabled the federal government to exceed its authority,” he said.

For example, he said, the Constitution does not empower the federal government to regulate education, or employment, and agriculture, yet it does so.

The jury in U.S. District Court in Louisiana voted 12-0 to find Cryer, of Shreveport, not guilty of failure to file income taxes for two years. He had been indicted in 2006 on charges of failing to pay $73,000 to the IRS in 2000 and 2001. The next step in his personal case will be up to the IRS and prosecutors, if they choose to continue the issue, he said.

But for the rest of the nation, he’s working with Save-a-Patriot, the Free Enterprise Society, Live Free Now and his own Lie Free Zone to spread the message of the truth.

“There are three points that are important,” he told WND. “There’s no law making the average working man liable [for income taxes], there’s no law or regulation that allows the IRS to contend that earnings are 100 percent profit received in exchange for nothing, and the right to earn a living through any lawful occupation is a constitutionally protected fundamental right, and it is exempt from taxation.”

Spokesman Robert Marvin in Washington’s IRS office told WND the Internal Revenue Code provides for taxation on salaries or wages, but when pressed for a specific citation, or constitutional provision, he said, “I can’t comment.”

Cryer’s encounter with tax law began more than a decade ago when a friend told him the income tax was sham. Cryer started researching, hoping to keep his friend out of trouble. But his conclusions, after years of research, were exactly what his friend told him.

He researched not only tax laws, but also the documents pertaining to the drafting of the U.S. Constitution as well as the first income tax.

He said throughout his battle, he’s offered at every turn to pay taxes if the IRS could show him the authorization, and that never has happened.

“The Criminal Investigation Division and Department of Justice both responded only with ‘your position is frivolous.’ I had never stated a position, so how could they know whether it was frivolous?” he said. “Imagine my sending you a bill for $1,000 and when you call me and ask what the bill was for I simply said, ‘that position is frivolous, just write the check and send it in.’”

His acquittal, he said, was a precedent because it means “people can see and recognize the truth.”

He said multiple Supreme Court opinions have affirmed an individual’s ownership of his or her own labor, and “exercising your fundamental rights” is not taxable. “It is definitely a trade. What most people receive in the form of wages, salaries or in my case fees that they personally earned for their labor is not received in exchange for nothing.”

He said there might be a profit that should be taxable, but there might not.

“The IRS lets Wal-Mart sell a trillion dollars worth of goods, but they can back out their cost of goods [before being taxed,]” he said. “The IRS considers, in the case of a Wal-Mart wage earner, 100 percent of what he takes in is profit.”

“But he’s using his life, energy and work lifespan, and depleting it as he goes,” Cryer told WND. “[Working] is a God-given fundamental right that is protected under the Constitution and can’t be taxed any more than exercising freedom of speech.”

While he waits to see what, if anything, the IRS and Justice Department will do next in his case, he’s working to coordinate the groups that are battling taxation as unconstitutional.

“I have started a campaign to unify [the work] and we’ve got a number of organizations that are sponsoring and supporting this campaign,” he said. The goal is to get everyone “who is aware of the truth” organized so they can spread the word.

He warned without a restoration of constitutional basics, the nation is lost.

“Read your Constitution and you will see that the federal role does not include ANY authority to regulate or tax any citizen directly and that WE expressly reserved the right to rule and govern ourselves as States, not as mere political subdivisions,” his website says.

“The Constitution does not allow the government to run your lives, but the money it is stealing from millions of Americans is the fuel for its over-reaching and kibitzing. Take the money back and we and our states and communities can again be free,” he said.
Long Story short, income tax is unconstitutional, and yet most undocumented immigrants pay taxes

foreclosure?

Tuesday, October 28th, 2008
bankruptcy law

I need to foreclose on my home.?
I have 2 loans on my home, the first is a negatve arm so my loan is growing. I owe 275 and the houses are selling for 260 so selling is not an option. I also filed bankruptcy a couple of months ago, the case have already been confirmed and I am making payments for my chapter 13. I live in CA. My question is how will the foreclosure work? How will it affect my credit and will I loose my job or go to jail if I walk away? my neighborhood is very dangerous, a murder happened recently behind me and there was a drive by last night. I am so scared living here. My husband is in law enforcement so we do not want him living here, we are scared this will affect his job. What do I do? Please help me. I did not include my home in the bankruptcy.

I need help understanding bankruptcy law with a partnership HELP?

Monday, October 27th, 2008
bankruptcy law

In March 1988, Daniel E. Beren, John M. Elliot, and Edward, F. Mannino formed Walnut Street Four, a general partnership, to purchase and renovate an office building in Harrisburg, Pennsylvania. They borrowed more than $200,000 from Hamilton Bank to purchase the building and begin renovation. Disagreements among the partners arose when the renovation costs exceeded their estimates. When Beren was unable to obtain assistance from Elliot and Mannino regarding obtaining additional financing, the partnership quit paying its debts. Beren filed an involuntary petition to place the partnership into Chapter 7 Bankruptcy. The other partners objected to the bankruptcy filing. At the time of the filing, the partnership owed debts of more than $380,000 and had approximately $550 in the partnership bank account. Should the petition for involuntary bankruptcy be granted?

How exactly did the bankruptcy laws change?

Monday, October 27th, 2008
bankruptcy law

I am not considering bankruptcy; I am not in a position where I would need to do so. I am just curious. I was trying to explain to a friend that it is a lot harder to file for bankruptcy now than it once was, but I don’t know what the change was.

What is the bankruptcy law or code in Missouri to exempt my 2007 Tax Refund?

Monday, October 27th, 2008
bankruptcy law

The bankruptcy trustee told me to ammend my exemption schedule to include my 2007 return, but I don’t know the code.
I filed with out an attorney, so I have to find the code by myself.

credit card math help comsumer math?

Saturday, October 25th, 2008
bankruptcy law

1: With a credit card you are able to receive money, goods, or services in the present, in exchange for a promise to pay in the future.
True
False

2: Minimum payments are a trap; they are often designed so that it takes months or years to pay off the balance.
True
False

3: The adjusted balance is a measure of the cost of credit, expressed as a yearly rate that must be disclosed before you become obligated on the account and on your account statements.
True
False

4: Federal law prohibits issuers from sending you a renewal or substitute card without your request.
True
False

5: Accurate negative information can generally stay on your credit report for seven years, with certain exceptions.
True
False

6: Realistic budgeting, credit counseling from a reputable organization, debt consolidation, or bankruptcy are all methods of dealing with debt.
True
False

7: Chapter 7, known as straight bankruptcy, involves liquidating all assets that are not exempt. (Exempt items would include items such as work-related tools and basic household furnishings.)
True
False

8: In exchange for an up-front fee, companies which guarantee that applicants will get the credit they want-usually a credit card or a personal loan - are always pre-approved by the FTC.
True
False

9: “Dead Man Walking” was an example of companies scamming citizens out of their social security benefits.
True
False

10: Credit and charge card fraud costs cardholders and issuers hundreds of millions of dollars each year.
True
False

Wage Garnishment-Not sure which state law would apply?

Saturday, October 25th, 2008
bankruptcy law

Hi,
I live in PA for 1 month now. I work for a company that has its headquarters in another state (i drive a truck OTR). I believe there will be some judgements for some debts I will not be able to have discharged in bankruptcy. All of the debts (credit cards, repo fees, unsecured debts etcc) are from when i lived in Florida.
Question-If i live in PA and work for a company based out of another state-which state wage garnishment law would apply? My home state or the employers home state?
Also, (if my home state laws apply) If a judgement is entered against me in a Florida court, can the judgement be used to garnish my wages? Basically does the PA no wage garnishment law apply to all judgements or just judgements from PA?
Thanks so much…