2014


      DO I HAVE RIGHTS TO MY STEP-CHILD AFTER DIVORCE?

      Posted on 12,22,2014

      Children are legally connected to their parents in one of two main ways: they are biologically related or they have been legally adopted. In both, rights and responsibilities of the parent are legally established and can only be undone in extreme circumstances. Any person that is not biologically or legally connected to a child does not have any rights over them.

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      HOW TO SET UP AN OPEN AUCTION

      Posted on 11,20,2014

      When a business files for bankruptcy, one of the options they may have is to sell assets in order to pay back some of their debts. If they choose this option it is important to know that creditors and other parties of interest must be notified of the sale and approve these actions in bankruptcy court. One of the options available to sell assets is a Section 363 sale.

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      RECENT STUDY SUGGESTS BANKRUPTCY IS COMMON FOR LOTTERY WINNERS

      Posted on 11,06,2014

      Winning the lottery seems like a dream come true. Some regularly try their luck at the numbers and others will buy a lottery ticket to celebrate a momentous occasion, such as the birth of a child. No matter it happens, winning the lottery can seem the perfect financial boon. While this money is taxed, it can still provide substantial amount of income.

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      WHAT IS AN EMERGENCY BANKRUPTCY FILING?

      Posted on 10,30,2014

      When it comes to filing for bankruptcy, people often like to weigh their options, alternatives, and the pros and cons of their choice. However, in some cases, there is no time to go through this process. If you find yourself facing a serious situation, you may need to file emergency bankruptcy to get an automatic stay put in place right away. If you do not have time to waste on filing the majority of bankruptcy forms and need a stay put in place as soon as possible, you may be able to pursue an emergency bankruptcy.

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      DANGERS OF FILING FOR BANKRUPTCY ON YOUR OWN

      Posted on 10,14,2014

      If you are overwhelmed by debt and other financial obstacles, bankruptcy may be an effective option for your situation. However, it can be difficult to determine if bankruptcy is truly the best course of action for your case without the counsel of a seasoned and knowledgeable bankruptcy attorney. Like many legal matters, you can technically file for bankruptcy without the representation of a lawyer. But is that really a wise choice? Many people think that they cannot afford to pay for an attorney, especially amidst their current debt. On the contrary, it is often true that you cannot afford to not have a legal representative at your side during this time.

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      CAN I SETTLE MY BANKRUPTCY OUT OF COURT?

      Posted on 09,26,2014

      Bankruptcy can be a time consuming, stressful, and even overwhelming experience for an individual without the right legal team. The process can be very complex, making bankruptcy alternatives more and more appealing to debtors. But what are these alternatives and are they as effect, safe, or affordable as the traditional method?

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      WHAT IS THE INNOCENT SPOUSE DEFENSE?

      Posted on 09,12,2014

      When a spouse/former spouse chooses to omit income on a joint tax return or claims improper deductions, it can lead to an IRS tax audit. This not only means danger for the spouse committing the tax fraud, but also the other spouse whose name is on the joint tax return. Even if you recently went through a divorce, you may still be held liable for your former spouse's actions.

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      TYPES OF CHILD CUSTODY IN DIVORCE

      Posted on 09,01,2014

      In the state of Virginia, the best interest of any children involved in a divorce is placed as the centerpiece of all child custody matters. If the parents cannot come up with a custody arrangement, then the court determines what type of custody arrangement will be used. The best interest will be the primary factor evaluated.

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      CAN I OBJECT A PROOF OF CLAIM?

      Posted on 08,16,2014

      When a creditor files a claim, it means that they wish to assert their right to receive pay out from a bankrupt estate. The bankruptcy court, the debtor, the trustee, and other creditors will be notified of this claim. While it is assumed that the debtor and trustee will likely object this claim, often times other creditors have taken action against claims as well in order to protect their payout.

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      MILITARY MEMBERS FILING BANKRUPTCY

      Posted on 08,07,2014

      Members of the military have the ability to file bankruptcy to help them gain a fresh start after financial hardship. By choosing bankruptcy, military members have a chance to get rid of most, if not all, of their debt.

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      CHILD CUSTODY FAQ

      Posted on 06,13,2014
      CHILD CUSTODY FAQ

      If you are a parent who is going through a divorce, you probably have quite a few questions about how child custody will be determined and how disputes regarding child custody issues will be resolved. The attorneys here at the David McCormick Law Group are well-versed on the laws governing child custody matters here in Virginia Beach and throughout the state.

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      WILL YOU HAVE TO PAY SPOUSAL SUPPORT IN YOUR DIVORCE?

      Posted on 06,05,2014
      WILL YOU HAVE TO PAY SPOUSAL SUPPORT IN YOUR DIVORCE?

      One of the most common questions asked by couples going through a divorce is who will have to pay spousal support. Spousal support is not the same as child support nor can it be included in the division of assets. The final decision as to who will pay spousal support, also known as alimony, will be left to the discretion of the judge.

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      WHAT IS THE VIRGINIA HOMESTEAD EXEMPTION?

      Posted on 06,01,2014
      WHAT IS THE VIRGINIA HOMESTEAD EXEMPTION?

      Are you a Virginia homeowner who is planning on filing for bankruptcy? Are you worried about protecting your home and the equity in it? Each state has a variety of bankruptcy exemptions which can be used to help individuals protect certain assets and property during bankruptcy. One of the exemptions our state offers is the homestead exemption.

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      HOW CAN YOU MAINTAIN CUSTODY IN YOUR VIRGINIA BEACH DIVORCE?

      Posted on 05,28,2014
      HOW CAN YOU MAINTAIN CUSTODY IN YOUR VIRGINIA BEACH DIVORCE?

      When a couple makes the decision that their marriage has come to an end and it time to file for divorce, this is only the beginning of what could be a very long, drawn-out and volatile battle over assets, property and custody of the children. In most divorce cases involving children from a marriage, both parents usually want to be granted custody rights.

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      HOW IS CHILD SUPPORT CALCULATED?

      Posted on 05,20,2014
      HOW IS CHILD SUPPORT CALCULATED?

      As a parent who is going through a divorce or planning on filing for divorce, you may be curious as to how child support will be calculated in your particular case. The terms of each child custody and child support agreement will be different, as no family situations are the same and neither are a child's individual needs. In our state there is a standard schedule which is used to determine the amount of support a child will be given. The combined gross monthly income of both parents, along with the number of children from the marriage who require support, are some of the primary factors used to determine the amount of child support which is to be paid. If you want to find out how much you can expect to pay or receive in child support payments, a divorce lawyer from our firm is only a phone call away.

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      WHAT IS A BANKRUPTCY AUDIT?

      Posted on 05,15,2014
      WHAT IS A BANKRUPTCY AUDIT?

      Each and every year the U.S. Trustee's Office selects a number of bankruptcy cases, either at random or based on certain red flags, on which it is going to perform an audit. The reason it does these bankruptcy audits is to detect instances of fraud and seek out debtors who have not been truthful about their income, assets or other pieces of pertinent information. Hidden assets, false or misleading statements made to the bankruptcy court, and other discrepancies are what the appointed audit firm are looking to find. You will have a much greater chance of being able to avoid a bankruptcy audit, if you are completely honest when preparing your bankruptcy petition and during your hearings. Having a bankruptcy lawyer by your side to help guide you through the bankruptcy process will also lessen your chances of either being audited, or of having your case dismissed following an audit.

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      STEPS IN A CHAPTER 13 BANKRUPTCY

      Posted on 05,06,2014
      STEPS IN A CHAPTER 13 BANKRUPTCY

      If you are planning on filing for bankruptcy, we recommend you familiarize yourself with the steps involved in the bankruptcy process. Becoming aware of your legal rights and gaining an understanding of what is expected of you at each step of the way will go a long way towards helping you attain true debt relief. Each type of bankruptcy has different steps which must be followed before a debtor will be able to eliminate or significantly reduce a large portion of debt.

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      DO I NEED A DIVORCE LAWYER?

      Posted on 05,01,2014

      Divorce is arguably one of the most difficult, emotional, and stressful experiences a person can go through. This is especially true when the divorce is contested and involves litigation. Many people try to minimize the trauma of their divorce by attempting to handle the matter on their own, without legal counsel or representation. Doing so will only make the situation more difficult, however, since the individual does not have the guidance of a knowledgeable attorney.

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      WILL FILING FOR BANKRUPTCY ELIMINATE MY TAX DEBT?

      Posted on 05,01,2014

      With tax season here again, some of you may be wondering whether filing for bankruptcy will allow you to get rid of your outstanding tax debt. Not all tax debts can be eliminated through filing for bankruptcy protection. Payroll taxes and cannot be discharged by filing for bankruptcy. Certain tax penalties and any unpaid income taxes from tax returns at least 3 years prior to the date you file for bankruptcy may be eligible for discharge.

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      STEPS IN A CHAPTER 7 BANKRUPTCY

      Posted on 04,30,2014
      STEPS IN A CHAPTER 7 BANKRUPTCY

      Chapter 7 bankruptcy is a way in which an individual may be able to put an end to creditor harassment, stop wage garnishments and repossession actions, or other legal actions from moving forward, and to get unsecured debt discharged. If you want to file for bankruptcy, hiring an experienced bankruptcy lawyer from the David McCormick Law Group will significantly heighten your chances of obtaining the debt relief you seek. We do not judge people who retain our services as we believe every individual has a right to avail him- or herself of the benefits of bankruptcy.

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      WHO CAN FIND OUT I FILED BANKRUPTCY?

      Posted on 04,21,2014
      WHO CAN FIND OUT I FILED BANKRUPTCY?

      If you are contemplating bankruptcy as a way to resolve unpaid debt, you may be wondering who will be able to find out you filed. When an individual files for bankruptcy it becomes a matter of public record. A bankruptcy filing will remain on your credit report for up to 10 years after the date of discharge, so any individual or organization who runs your credit will be able to see you filed for bankruptcy. This does not mean all of your friends, family, co-workers and others will ever become aware of your financial situation. It simply means the information is available should someone choose to search for it. In most cases, unless you personally advise others of the fact you filed for bankruptcy, they will never be alerted to or made aware of the fact that you have done so.

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      WILL BANKRUPTCY PUT AN END TO ALL OF MY FINANCIAL PROBLEMS?

      Posted on 04,02,2014
      WILL BANKRUPTCY PUT AN END TO ALL OF MY FINANCIAL PROBLEMS?

      Despite its negative connotation, bankruptcy can be a clear path to a fresh financial start. Many individuals believe filing for bankruptcy means they have failed financially. This is far from the truth. Rather, changes in life circumstances, including the loss of a job, huge medical expenses, and divorce, are the most common reasons individuals file. The idea that life after bankruptcy is void of any financial possibilities is also a myth. By keeping credit card balances low and making regular payments, it is absolutely possible to rebuild your credit and enjoy financial freedom after bankruptcy.

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      BANKRUPTCY ESSENTIALS: DOCUMENTS YOU SHOULD GATHER BEFORE FILING

      Posted on 04,01,2014
      BANKRUPTCY ESSENTIALS: DOCUMENTS YOU SHOULD GATHER BEFORE FILING

      For many individuals, filing for bankruptcy can seem overwhelming and complicated. With our seasoned Virginia Beach bankruptcy attorneys by your side, it doesn't have to be. At the David McCormick Law Group, we have helped thousands of individuals find debt relief, and we are confident we can find options to ease your financial burdens as well. If you are considering bankruptcy as a path to a brighter financial future, here are a few documents you can begin to gather to make the process move more quickly and smoothly:

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      LOAN MODIFICATION AS AN ALTERNATIVE TO BANKRUPTCY

      Posted on 03,06,2014

      Many people are well aware of the fact that bankruptcy can work as an effective foreclosure defense. What you may not be aware of is that there is an alternative to bankruptcy that can also be used to help save your home from foreclosure, a loan modification. The majority of mortgage lenders offer some type of loan modification program that homeowners who have found themselves underwater on their mortgage, out of work, going through a divorce or struggling to make ends meet after sustaining serious injury in an accident, can implement to prevent foreclosure on a property. Foreclosure proceedings are not only time consuming, but they are also costly to a lender. If there is a way in which your lender can avoid having to foreclose on your home, it is very likely they will be interested in working with you on another option, particularly if you are represented by an attorney.

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      WHAT DOESN’T BANKRUPTCY DO?

      Posted on 01,29,2014
      WHAT DOESN’T BANKRUPTCY DO?

      While bankruptcy can provide an amicable solution for overwhelming debt, it is not the answer to all financial issues. In some cases, it may not even be the right choice for certain individuals or families, and another alternative might be more appropriate. Below we have listed some of the things that are not possible when filing bankruptcy.

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      CREDITOR HARASSMENT - DO I HAVE A CASE?

      Posted on 01,23,2014

      Consumers are protected from creditor harassment by both state and federal laws. At the federal level, the Fair Debt Collection Practices Act puts restrictions upon creditors with regard to how they try to collect from any consumer in the USA. At the state level, the law is the Consumer Protection Act. If any creditor has violated your rights by overstepping the bounds of either of these laws, you may have a case that will allow you to file a claim and recover damages from the creditor – they will have to pay you. In fact, even your legal fees may be awarded by the court, and the creditor forced to pay your attorney. Are you the victim of creditor harassment?

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      WHAT IS CHAPTER 13 BANKRUPTCY?

      Posted on 01,16,2014

      Many people understand Chapter 7 bankruptcy, in which unsecured consumer debt is discharged, and this is the most commonly filed form of bankruptcy. The process of filing Chapter 13 is far different, and could be the right solution for you, particularly if you are trying to avoid losing your home through foreclosure. Chapter 13 is also known as "wage-earner's bankruptcy," as it is often the appropriate solution for those who don't qualify for Chapter 7, as they are above the state's median to be eligible, and are currently earning an income as an employee, or as a self-employed person.

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      GETTING RID OF CREDIT CARD DEBT

      Posted on 01,09,2014

      When credit card debt has gotten out of control, it can be difficult to figure out what to do. Some people, in an effort to be honorable, have cashed out retirement funds to pay off credit cards or overdue debt, thereby creating another debt – this time to the most relentless debt collector of all – the IRS. Did you know that when you file for bankruptcy, your retirement accounts are exempt? Before you make any decision about cashing out the savings you have set aside for retirement, it is worth looking into filing for bankruptcy protection.

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      HOW DO I FILE BANKRUPTCY IN VIRGINIA BEACH?

      Posted on 01,04,2014

      If you are asking yourself the questions of "How do I file for bankruptcy?", chances are you are already in financial trouble. Perhaps you have substantial debt from credit cards, loans or bills and have been dealt a costly blow to your finances and life. These setbacks can come in the form of losing a job, house or car or many other ill-fated situations. While you are undoubtedly experiencing a high amount of stress from the piling debts against you and the unknown nature of your future, there are options for you to explore.

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