Reasons to Do a Short Sale? Maybe Not
Besides avoiding a foreclosure and its hit on your credit record, you may have other sensible reasons for looking into a short sale of your home. Let’s consider those other reasons.
Bankruptcy CAN Help Resolve Your Business Tax Debts
You might have heard that bankruptcy cannot help with taxes. Especially with business taxes. That’s often not true. Let’s clear up some of the myths about this. Myth: Bankruptcy does not write off (legally “discharge”) taxes. Truth: While it is true that SOME taxes can’t be discharged, many others CAN be. The law is complicated. […]
Short Sales: Seldom Easy and Often Not What You Expected
A short sale of your home is sometimes your best alternative. But short sales often do not successfully close, and even when they do you may get a rude surprise.
Mortgage settlement details complicated, but 3 categories of homeowners eligible on case-by-case basis
Mortgage settlement details complicated, but 3 categories of homeowners eligible on case-by-case basis
Alleviating the Burden of Business Tax Debts through Bankruptcy—Part 1
Just about every struggling business has tax problems. When expenses are very tight, it is very tempting for a small business with a few employees to withhold payroll taxes but then not pay them over to the IRS. Sole proprietors barely scraping by can’t scrape up the money to make their personal estimated income tax […]
“Automatic” Protection from Your Creditors
Many bankruptcy attorney ads in periodicals here in the South Florida area say: “Stop garnishments.” “Stop foreclosures.” “Stop repossessions.” So bankruptcy stops all those bad things. But is it as good as it sounds? How does it really work? There’s nothing more important than getting immediate protection for you, your paycheck, your home, and your […]
What Stops a Creditor from Chasing You After Its Debt Has Been Written Off in Bankruptcy?
Even though it’s illegal for creditors to try to collect on a debt that’s been discharged (legally written off) in bankruptcy, once in a while they do try. What makes chasing a discharged debt illegal? And what penalties can get awarded to you if a creditor breaks the law? In my last blog I […]
Audit Shows Capital One Bank Illegally Filed $24.7 Million in Claims for Debts Previously Discharged in Bankruptcy
One can understand if a major U.S. credit card company forgets that one of its customers had earlier written off their debt in bankruptcy. But forgetting this very important fact for 15,500 of its customers?!? It is bad enough that Capital One lost track that its old debts had been legally written off (“discharged”). […]