Change can be difficult. This can be especially true in residential construction where projects can veer off course when a contractor encounters an unforeseen obstacle that may cut into his profit margin, or when an owner requests an oral change and later refuses to...
Bankruptcy
Pesky Uncle Sam: Tax Treatment in Chapter 11 Bankruptcy
Uncle Sam, of the U.S. Treasury, is a pesky and persistent “family member” who inserts himself into every conceivable financial affair. Impossible to shake, his needs must be satisfied. If not, he can make life extremely difficult. Understanding tax treatment in...
Stripping Away Burdensome Mortgage Debt
Lien stripping is a process available to debtors in bankruptcy that can remove junior mortgage liens on residential property, freeing property from burdensome mortgages that exceed the value of the property. After a lien strip, a homeowner is only obligated on the...
Newspapers rarely announce your personal bankruptcy
Perusing the Star Tribune this morning, I came across a short article listing several local business bankruptcies. Consumers who are considering filing Chapter 7 or Chapter 13 bankruptcy often worry about the publicity of bankruptcy. Everyone is going to find...