Property Insurance. One type of policy that for most people that is actually mandatory to have is homeowners insurance when you have a mortgage. If you borrow money from the bank to purchase a home they will require the asset to be insured. For many people,â this insurance premium is built into the mortgage payment.
Adversary Proceedings in Bankruptcy. An adversary proceeding in bankruptcy is a separate lawsuit filed within the bankruptcy case. Like most lawsuits, it starts when someone (the creditor, the bankruptcy trustee, or you) files a complaint. Many bankruptcies go through to completion and discharge without any adversary proceedings. But not so in others.
Clients who want to file delinquent tax returns. The new client who represented himself as an upstanding businessman but has been indictedâfor the third time. After malpractice claims are resolved, CPAs often say, âI never should have taken this client.â But there is a way to help prevent this type of regret. By establishing sound client acceptance procedures, CPAs often can identify problem clients before they cause trouble.