Mr. Millard Cox III, Attorney


Millard Cox Lawyer

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Update Date: 2019-07-02

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Millard Cox

PO Box 60
Absarokee, MT 59001
45.525336,-109.600714

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PO Box 60
Absarokee, MT 59001


Other Locations:

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LAWYER BADGES

SAMPLE LEGAL CASES

Chapter 13 Advantages: The Art of the (Chapter 13) Plan
Done properly, chapter 13 provides certain above-median wage earners—and others with special considerations, often relating to a mortgage—with debt relief.
Taxability of Discharged Debts: Advantages and Consequences of Bankruptcy
The Internal Revenue Code ("I.R.C." or the "Code") broadly defines gross income as "all income from whatever source derived, including . . . [i]ncome from discharge of indebtedness" I.R.C. § 61(a)(12). Although the I.R.C. does not define "discharge," this has long been understood to include the taxpayer's release from a monetary obligation such as debt forgiveness or by way of a discharge in a bankruptcy case.
Redeeming Personal Property in a Chapter 7 Case
Many debtors—and a few attorneys—are unaware that the Bankruptcy Code provides a way for debtors in a chapter 7 case to "redeem tangible personal property intended primarily for personal, family, or household use, from a lien securing a dischargeable consumer debt, if such property is exempted [by the debtor] . . . or has been abandoned . . . [by the trustee], by paying the holder of such lien the amount of the allowed secured claim of such holder that is secured by such lien in full at the time of redemption." 11 U.S.C. § 722. There is quite a bit to unpack here, but at bottom, almost any non-commercial physical personal property subject to a security interest can be exempted and redeemed in a chapter 7 case.