As a bankruptcy lawyer, I often hear the question, “Can You File for Bankruptcy if You Haven’t Filed Tax Returns?” and it’s not surprising why. With the increasing cost of living and unexpected expenses, many individuals face financial difficulties and consider bankruptcy as a solution. But what happens if you still need to file your…
Losing Assets in bankruptcy. There are assets clients often lose in a bankruptcy filing. These assets include assets you transferred or sold and assets we forget. These assets also include assets you will own in the future and may not even know about. Assets are far more likely to be lost in a Chapter 7…
Medicaid is supposed to be your last resort for medical services. So, if Medicare is not paying enough to pay for services then Medicaid will pay for medical services. However, you have to spend down assets first before using Medicaid. Unfortunately, in essence, Medicaid becomes just like a judgment creditor who can take your assets…