Help! Support Enforcement Just Garnished My Paycheck, and is Threatening to Do Worse
If you’re behind on child or spousal support, the support enforcement agency can be extremely aggressive. Chapter 7 doesn’t help much. Chapter 13 CAN.
Advantages of Chapter 13 After Stopping Repossession of Your Car or Truck
Straight Chapter 7 bankruptcy gives very limited help if you’re behind on your vehicle and need to keep it. And Chapter 13? Provides much more help.
Bankruptcy Can Save Your Business
Bankruptcy isn’t just for cleaning up after the death of a business. It can keep your business alive. Bankruptcy saved General Motors. That business got out of a lot of it debt and restructured its operations, and ended up saving a lot of jobs. If you operate your own small business, bankruptcy may be […]
Stopping a Home Foreclosure with a Bankruptcy, Temporarily or Permanently
Filing bankruptcy can buy you a little time or a lot of time, enough time either to transition to a new home or to save your home.
Chapter 13 Tames Your Income Tax Monster
A “straight” Chapter 7 can write off some income taxes. But if you owe recent taxes, or multiple years of taxes, Chapter 13 is usually a much better way to go. It often provides tremendous advantages over both Chapter 7 and dealing with the IRS on your own. I’ll illustrate this with an example, and […]
Writing Off Income Taxes with a “Straight Bankruptcy”
You don’t always need to file a Chapter 13 case—with its 3-to-5-year payment plan–to deal with income tax debts. Thinking that you do is a myth, alongside the broader myth that “you can’t write off taxes in a bankruptcy.” Both have a kernel of truth, which is why they persist. It’s true: some taxes cannot […]
Power to Keep Your Vehicle, Appliances, and Other Collateral
If you want to hold onto your vehicle, or other collateral, Chapter 13 makes it happen.
Chapter 13 Turns the Power of the “Automatic Stay” into a Superpower
If Chapter 7 strengthens your hand against your secured creditors, Chapter 13 turns you into Superman. It starts with a much more robust “automatic stay.”
Preserve Your Ability to File Bankruptcy at the Time You Want
Sometimes the timing of your bankruptcy filing hardly matters, but other times it’s huge. The three examples in this blog should convince you that you want to avoid being rushed to file your case because a creditor sued you earlier and is now garnishing your wages. Instead you want to preserve the ability to file […]
Ten Things You Need to Know About Assets and Exemptions in Bankruptcy
Most of the time, you get to keep whatever you own when you file bankruptcy. These 10 truths tell you how it works.