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Love and Money: Dealing with Debt as a Couple

Everyone deals with money and debt differently. There are planners and procrastinators, those who tackle it head-on and those who avoid dealing with it at all costs. When opposites come together in a romantic relationship it can trigger stress, anxiety, and dissension for the couple. [blockquote...

Culik Law Wins Bankruptcy Trial On Violation of Automatic Stay

After a trial in the Boston Bankruptcy Court, Culik Law has obtained a judgment in favor of our clients against the bank Taunton Federal Credit Union. The consumers were represented by Culik Law. The case was based on a credit union’s violation of the bankruptcy “automatic...

What is a Reaffirmation in Chapter 7 Bankruptcy?

If you file a Chapter 7 bankruptcy, the court will require you to complete a form called a “Statement of Intention” indicating what you intend to do with debts that are secured to your property. In most cases, this means that the court is asking...

Should I File Bankruptcy Even If I’m Judgment Proof?

Under Massachusetts law, certain assets and sources of income are entirely protected and cannot be taken by your creditors. For example, pursuant to G.L. c. 235, § 34A, income from your 401(k) is fully protected and cannot be garnished. There are similar exemptions for many...

Culik Law Bankruptcy

Stop Wage Garnishments Now (And Get Your Money Back)

If a debt collector sued you and obtained a judgment, then they may be entitled to garnish your wages. In Massachusetts, up to 15% of your gross income over $400 per week can be subject to wage garnishments.  The loss of this income can be...

Can A Creditor Take My Social Security Benefits?

If you receive Social Security Benefits, in almost all instances creditors are not allowed to take these funds to pay a past-due debt. Under federal law, Social Security benefits may only be garnished in order to collect debts owed to the federal government (like taxes...

Credit Reporting Violations After Bankruptcy

Surveys have found that nearly 65% of credit reports were inaccurate following a bankruptcy discharge. Inaccuracies can include failing to report a debt as having a $0.00 balance, failing to report a debt as having been “included” or “discharged” in bankruptcy, and/or continuing to show...

Culik Law Bankruptcy Underwater Mortgage

Eliminating or Modifying Mortgages on Underwater Property

Underwater property can often be the cause of significant concern and frustration. It may take several years of payments before you can obtain any equity in the property. And if you want to sell it before then, you won’t be able to do so without completing...

Culik Law Bankruptcy

What is a Bankruptcy 341 Meeting?

Some questions we receive regarding the bankruptcy process include how the court-appointed Trustees are involved, and what the Trustee meeting or 341 meeting is. Once a bankruptcy case is filed, a court-appointed Trustee is automatically assigned to your case. Their job is to represent your unsecured...

Debt and Taxes

How to Avoid Taxes on Cancelled Debt

With the tax return filing deadline less than a month away, you may be one of the millions of people struggling to figure out what to do with a 1099-C that you received. A 1099-C is a tax form issued by a creditor, which states that...

Culik Law Bankruptcy Taxes

How to Discharge Income Taxes in Bankruptcy

We’ve all heard the phrase that nothing in life is certain except death and taxes. Unfortunately, the popularity of that phrase sometimes leads people to incorrectly assume that taxes can never be discharged in bankruptcy.  While there are some types of debts that are never dischargeable...

Culik Law Loan Modification During Bankruptcy

Can I Apply for a Loan Modification During My Bankruptcy Case?

Homeowners often contact us for assistance with catching up on past due mortgage payments and preventing foreclosure. The best options for achieving these goals are sometimes (1) applying for a loan modification or (2) filing a Chapter 13 bankruptcy. A loan modification will automatically bring...

How Bankruptcy Can Actually Improve Your Credit

Did you know that bankruptcy might be able to improve your credit score quicker than not filing? Your credit report contains a detailed summary of your recent financial information. Among other things, it can list all recent payments, missed payments, civil lawsuits, tax liens, and...