Reaffirmation, Redemption and Surrender of Personal Property vs. “Ride Through” In Chapter 7 Cases

Reaffirmation, Redemption and Surrender of Personal Property vs. “Ride Through” In Chapter 7 Cases – Part II of III

By James F. Molleur, Esq., Molleur Law Office, Biddeford, Maine Click here for part I

(Republished with permission. Originally published at the Thirty-Ninth Annual Southeastern Bankruptcy Law Institute, March 21, 2013, Atlanta, Georgia)

When Does the Presumption of Undue Hardship Arise?

Section 524(m)(1) establishes when the presumption of undue hardship arises, and thereby triggers a Court hearing under Section 524 (d)(1). Section 524(m) reads as follows:

(m)
(1) Until 60 days after an . . .

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IRS Attempting to Collect on Virtual Currency

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IRS has begun sending letters to virtual currency owners advising them to pay back taxes, file amended returns; part of agency’s larger efforts. On July 26th, the IRS announced that it has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions or did not report...

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