carrlaw | June 24, 2009
A Minnesota car dealer has been sued by the trustee in the bankruptcy court he has filed bankruptcy with. Remember the car dealer that was found in Utah with 80 plus cars. He was trying to smuggle them out of his dealership because he was facing closure.
We thought this one was pretty interesting. What had [...]
carrlaw | June 19, 2009
According to the US Bankruptcy court the filings for Bankruptcy are up compared to last year. Not a surprise with the declining economy. The one surprise in the report is that the rise came mostly from chapter 11 filings, with a 69 percent jump in chapter 11. Followed by a 33 percent jump in chapter [...]
carrlaw | June 18, 2009
If you purchase a car after Febuary 16, 2009 and before January 1, 2010 you are entitled to a tax break. How it works is if you live in a state that charges sales tax you can right that sales tax off on your 2009 tax return. Also if you live in a state that does [...]
carrlaw | June 17, 2009
Too many times we have seen people come in with not so good tax returns. We feel that there has to be more professionalism and more accountability. Aparentley so does the IRS. Recentley the IRS made an announcemnet regarding this:
WASHINGTON — IRS Commissioner Doug Shulman announced today that by the end of 2009, he will [...]
carrlaw | June 17, 2009
Have you seen a change in your paycheck or retirement. Obama passed the “Making work pay credit”. Becareful to not get used to getting more back. A trend has seen that alot of people have changed there exemptions to get more back .
Check out this link to the IRS website regarding this new credit
www.irs.gov/makingworkpaycredit
carrlaw | June 17, 2009
At Carr and Pew we do wonder how long these Laws will last. Right now there is a lot of flexibility in what you can work out based on hardship status with the banks. The problem that people wonder is first and foremost, will the plan work to what its intentions were meant to do?
The [...]
carrlaw | June 17, 2009
One thing with the new “Obama” Law that allows you to modify a mortgage loan is, not everyone currently qualifies for a Mortgage Loan Modification. You have to meet certain parameters to modify a loan. One of those is show a current hardship. Not everyone can do so. even if you have been months [...]
carrlaw | June 3, 2009
Last week I attended a four day bankruptcy conference for the National Association of Consumer Bankruptcy Attorneys (“NACBA”) in Chicago. It was a great experience. The Nation’s bankruptcy experts turned out to put on seminars, prepare instruction material, and to learn advance practice techniques. For those of you laboring under preconceived notions regarding bankruptcy [...]
carrlaw | June 2, 2009
On May 22, 2009, President Obama signed a Bill into law that will help consumers. This bill’s enactment was in direct correlation to the “unfair or deceptive” practices of the credit card industry. Many of our clients have told stories regarding their credit cards and the enormous interest rate hikes. Their stories are similar. Most [...]
