Rank #1: Episode 108 - Form 1099-C, Cancellation of Debt
On this week's episode, I talk about a recent case: The mortgage lender modified my client's loan and put the arrears at the end of the loan. Years later, the mortgage lender wrote off the debt and issued my client a 1099-C, Forgiveness of Debt, showing the home owner had phantom income. Sometime later, the client came to me to file a Chapter 13 bankruptcy. When the lender filed its claim in the bankruptcy case, the lender included the amount of debt previously forgiven!
The status of the law is unclear and states differ on the effect of issuing the 1099-C form (Florida hasn't made a decision as far as I know). How did we resolve the issue? If I gave it way in these notes, why would you listen to the episode?
Apr 05 2018
Rank #2: Episode 90 - Interview of Julie Shopa with Clarity Finances
Julie Shopa is a Profit First certified professional and, through her business, Clarity Finances helps her clients with bookkeeping and interpreting the financial health of her clients using the system created by Mike Michalowicz in his book Profit First.
The Profit First system focuses on the formula "Sales - Profit = Expenses" rather than "Sales - Expenses = Profit." The system focuses on the adage "pay yourself first."
Nov 30 2017
Rank #3: Episode 29 - What Questions Will the Bankruptcy Trustee Ask
In this week's episode of the podcast, we talk about different questions a debtor may receive from the bankruptcy trustee.
We've covered hundreds, maybe thousands, of these types of creditor meetings over our career and we're pretty comfortable that we've heard almost every question the trustee could ask.While the episode does not contain everything the trustee will ask, it does hit the major points.
This podcast tracks a blog post we wrote on the same topic: http://www.yesnerlaw.com/blog/2016/08/what-will-the-bankruptcy-trustee-ask.shtml
Sep 01 2016
Rank #4: Episode 75, Quit Claim Deeds and Quiet Title Lawsuits
In this week's episode of the podcast, we talk about whether a quit claim deed or a quiet title lawsuit can stop a foreclosure, from a listener of the podcast!
Many people believe that transferring a home to a third party and then filing a quiet title lawsuit will defeat a foreclosure lawsuit. Unfortunately, under FL law, the answer is "no."
How I get to that answer is in this week's episode.
If you're facing foreclosure, please visit our website at www.YesnerLaw.com, or email me at Shawn@YesnerLaw.com
Aug 17 2017
Rank #5: Episode 122 - Crushing Debt Update & 1031 Exchanges
In this week's episode, I talk about an exciting new project from Crushing Debt (you'll have to listen, although I've dropped a few social media hints).
However, I do make an offer for you (my listeners) to be involved in this new project by shooting me an email to Shawn@YesnerLaw.com.
To continue to provide additional content, I give you my take on 1031 Exchanges and how those can impact real estate closings. I am not a qualified intermediary, nor are we tax attorneys or CPA's, but I have done enough 1031 exchanges in my day to understand the law behind the exchange of like-kind properties to defer the taxable gain on the sale.
For more information, check out my website at www.yesnerlaw.com.
Jul 12 2018
Rank #6: Episode 128 - Bankruptcy Means Test
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) made major revisions to the Bankruptcy Code. In this week's episode of The Crushing Debt Podcast, we talk about one of the more sweeping changes - the Means Test.
The means test is complicated and there is an art and a science to completing the information. The means test is important because it helps determine whether someone can file Chapter 7 (Liquidation) or Chapter 13 (reorganization).
Aug 23 2018
Rank #7: Episode 82 - Non-Dischargeable Debts
In this week's episode of the Podcast, we talk about debts that are non-dischargeable, meaning these debts are not eliminated by a bankruptcy filing. The episode comes from from a listener question about a debt arising from domestic violence.
Some examples of non-dischargeable debt include:
- Certain Income Tax Liabilities
- Debts that arise from fraud
- Debts that relate to injury or damage related to operation of a motor vehicle while drunk or intoxicated
- Creditors who are not included in the bankruptcy filing
- Student Loan debts
What other debts do you think are or are not dischargeable?
Oct 05 2017
Rank #8: Florida’s Foreclosure-Rescue Statute - Episode 178
We have a special guest host on today’s episode of the Crushing Debt Podcast, but don’t let the cuteness distract you from the content of the episode.
Today’s episode is a discussion of Florida Statute 501.1377 - Violations involving homeowners during the course of residential foreclosure proceedings.
The statute defines:
- Equity Purchaser
- Foreclosure-Rescue Consultant
- Foreclosure-Related Rescue Services
- Foreclosure-Rescue Transactions
The statute then defines the requirements of helping someone in foreclosure, or who could be in foreclosure, and the penalties for violation of the statute.
Although there are some exclusions from the law, if you work with people in foreclosure, you need to be aware of the requirements of the statute. If you have questions, please contact me at Shawn@YesnerLaw.com or www.YesnerLaw.com.
Aug 08 2019
Rank #9: Bare Bones Bankruptcy - Episode 190
This episode of the Crushing Debt Podcast is all about Bare Bones, or Skeleton Bankruptcy Petitions (I guess that's two spooky topics).
A normal bankruptcy petition is in the range of 50 pages, although the first 6 - 7 pages are all that's needed to file and start the case. That's what we mean by "bare bones," only the first 6 - 7 pages, followed up at a later date by the remaining supporting documents and schedules.
As a practice, Yesner Law tries to stay away from bare bones petitions because: (1) they take more time because we're filing documents multiple times instead of filing everything at the outset, (2) they're more expensive, because an additional fee is owed to the bankruptcy court to follow up and "add" creditors to the case, and (3) they are typically a sign that the client is unprepared.
A full bankruptcy petition typically consists of: (1) the Petition, (2) Schedules A - J & a Declaration as to those schedules, (3) Statement of Financial Affairs, (4) Statement of Social Security Number, (5) List of Creditors, (6) Means Test, (7) Statement of Intentions (for a Chapter 7 liquidation) or Plan (for a Chapter 13 reorganization).
Bare bones bankruptcy petitions can be more complicated when filed pro se (meaning by the debtor, unrepresented by an attorney).
Please also visit our sponsor, www.EastStartUpFunds.com. If you need between $25,000 and $100,000 and have a 680 credit score, you can complete an application to borrow for any reason.
Oct 31 2019
Rank #10: Episode 161 - Give Your Way Out of Debt
In this week's Crushing Debt Podcast episode, we have a returning guest, Paul Moore of Wellings Capital.
Paul was a guest on Episode 78 talking about reducing tax liability using multifamily investing, and promoting his book "The Perfect Investment."
In this week's episode, Paul is back to talk about:
1. Two new private equity funds Paul has launched for real estate investors, an income fund and a growth fund. Paul has used a value formula for commercial real estate investing and discovered that he can separate the funds into mostly self-storage facilities, mobile home parks and multifamily investing.
2. How he went from $1.7 million in the bank, to $2.5 million in debt, to debt free in 2008 / 2009 by giving his way out of debt.
Apr 11 2019
Rank #11: Episode 78 - Interview with Paul Moore
In this week's episode, I interview Paul Moore with Wellings Capital, and author of The Perfect Investment.
Paul and I discuss strategies to minimize tax liability. As a disclaimer, neither me or Paul are CPA's, Tax Attorneys, or otherwise, but we both have some knowledge and experience with the material.
We discuss strategies like:
- Investing in Real Estate
- Hiring a Tax Strategist
- Use Cost Segregation to Accelerate Depreciation
- 1031 Exchanges
- and more.
You can contact Paul and order his book The Perfect Investment on his website www.wellingscapital.com, or from Amazon at https://www.amazon.com/Perfect-Investment-Enduring-Historic-Multifamily-ebook/dp/B01M0UDZ4D/ref=sr_1_1?ie=UTF8&qid=1504727528&sr=8-1&keywords=The+Perfect+Investment
Or you can order his report that forms the basis of this episode on his website, or from Paul directly at Paul@WellingsCapital.com.
In addition, check out Paul's Podcast - The How To Lose Money Podcast on iTunes and Android podcast players.
Sep 07 2017
Rank #12: Episode 137 - Life & Debt with Leslie Tayne
In this week's episode of the Crushing Debt Podcast, we talk with fellow attorney, fellow author, and fellow FinCon2018 attendee Leslie Tayne.
Leslie is a New York attorney. In addition to her practice (similar to ours) that covers many aspects of debt elimination, Leslie wrote a book called Life & Debt which you can pick up on Amazon. You can also visit her website at www.taynelaw.com or email her at LTayne@TayneLaw.com.
If you live in New York and are being harassed by creditors, definitely contact Leslie's office. In addition, while Leslie's main office is in New York, look for her to expand soon into Southeast Florida, which she also discussed in this week's episode.
Oct 25 2018
Rank #13: OMG! WTF! - Episode 193
On this week’s episode of The Crushing Debt Podcast, we interview our long-time friend and referral partner, Barb Kyes, managing partner of ActionCOACH Tampa Bay.
Long-time listeners may remember that we had Barb’s daughter, Juliet Kyes on the show way back in Episode 63 and we’re thrilled to have Barb on this week’s show.
Contact Barb at Barb@ActionCOACHTampaBay.com or www.ActionCOACHTampaBay.com and mention that you heard this episode, or mention my name, to receive a complimentary coaching session by one of the best business coaches anywhere!
ActionCoach Tampa Bay started in 2007 as an international franchise and is now ranked in the top 20 ActionCoach firms internationally. In fact, all of their coaches are currently ranked internationally, many of them at or near the top of the franchise.
Barb and I talk about their book, OMG! WTF! (What’s the Focus) which is available on Amazon, or locally if you find Barb, Juliet or Ford Kyes. Some of the chapters we discuss:
- Chapter 10 - Accountability
- Chapter 7 - Systems (using systems to create leverage and how to create systems)
- Chapter 9 - Planning
We also talk about the 5 Ways tool, one of my favorite tools that I use regularly in my law firm.
If you have questions for me, please contact me at Shawn@YesnerLaw.com or www.YesnerLaw.com. If you found value in this episode, I would love if you subscribe to the show (its free to do so) and share the episode on Social Media.
Please also visit our sponsor (not an affiliate link, a referral partner of ours) - www.EasyStartUpFunds.com.
Nov 21 2019
Rank #14: Student Loan Management Program - Episode 184
Did you know that the Bankruptcy Court for the Middle District of Florida will be the first bankruptcy court in the Country to roll out a program designed to help borrowers repay student loans in a bankruptcy?
As of October 1, 2019, the US Bankruptcy Court for the Middle District of Florida will begin to offer a modification program within the bankruptcy to help borrowers negotiate and reduce the amount of their student loan payments.
Student loans are still non-dischargeable under the bankruptcy code but, like the mortgage modification mediation program, the bankruptcy court hopes that the Student Loan Management Program - SLM or SLM Program - will help student loan borrowers who might otherwise be forced into bankruptcy because they are unable to repay their student loans.
This week’s episode of The Crushing Debt Podcast explains the bankruptcy court’s order and explains how the program is going to work.
Are you struggling with your student loan payments? Do you know someone who is struggling to make their student loan payments? Please refer them to us. We now have another tool to help them manage their student loans! Shawn@YesnerLaw.com or www.YesnerLaw.com.
Sep 19 2019
Rank #15: Episode 9 - Probate, Loan Modifications and Foreclosure
Jan 08 2016
Rank #16: Episode 149 - Budgeting for Success
In this week's episode of The Crushing Debt Podcast, I talk about a few tips to help you budget.
As I've always said, there are two ways to get more money - increase income and decrease expenses. In this week's episode, I talk about ways to use your budget to do both.
- Tips to increase the amount of money you receive each payroll
- Tips to decrease monthly expenses
Jan 17 2019
Rank #17: Episode 16 Trustee Sales in Bankruptcy
Apr 14 2016
Rank #18: Eisode 4 Courthouse Auction
Nov 11 2015
Rank #19: Episode 147 - What's the Difference between Chapters 7 - 13 - 11?
One of the questions I'm asked most often, "What is the difference between a Chapter 7, Chapter 13 and Chapter 11?" This week's episode answers that question.
Chapter 7 is called liquidation. The Trustee will take any non-exempt assets, turn them into cash and pay off creditors. If all of your assets are exempt (protected) the creditors get $0.00.
Chapter 13 is called reorganization. The Trustee will pay your creditors based on any disposable income you have (or based on the value of any non-exempt assets, whichever is greater).
Chapter 11 is also a reorganization, but it is for businesses that want to reorganize, OR it is for individuals that don't qualify for Chapter 7 (because they have income or they have non-exempt assets), OR it is for individuals that don't qualify for Chapter 13 because they have too much debt (there is a limit to the amount of secured and unsecured debt you can have in a Chapter 13).
The main point of today's episode is to consult with a bankruptcy attorney in your area if bankruptcy might be an option. If you want me to help connect you to a bankruptcy attorney in your area, please contact me at www.yesnerlaw.com or firstname.lastname@example.org.
Jan 03 2019
Rank #20: Episode 5 Why Am I an Attorney?
Nov 19 2015