Worried about Getting Your Car or Truck Repo’d? How Bankruptcy Could Help
Bankruptcy stops a vehicle repo from happening. But what then?
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.
Four Hoops to Jump Through to Write Off Income Taxes in Bankruptcy
The conditions you have to meet to write off an income tax debt actually make sense. And understanding those conditions is a lot easier if you understand the sense behind them. In my last blog I introduced the four conditions for discharging taxes in a Chapter 7 “straight bankruptcy,” and said I’d explain them in […]
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 […]
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 […]
What is “Median Family Income,” and If You’re Making More Than That Can You Still File a Chapter 7 Case?
If your family income is more than the “median family income,” you may still be able to file under Chapter 7.
More about Dealing with Very Aggressive Creditors in Bankruptcy
Most creditors don’t challenge your write-off of their debts in bankruptcy. But if one does, the system is poised to resolved that challenge relatively quickly.
More Good Examples of How Bankruptcy Really Helps Even When You Can’t Write Off Every Debt
Three more practical ways that bankruptcy works to let you take control of your debts, even those that can’t be written off.
Paying Your Special Creditor After Filing Bankruptcy
If you file bankruptcy, it’s okay to voluntarily repay any debt. But there can be unexpected consequences.