Feb 18, 2022 | Bankruptcy, Blog, FAQ
Here’s what you need to know about reaffirmed debts and bankruptcy: If you reaffirm one or more debts in your bankruptcy case, those obligations remain binding and enforceable according to the terms of the reaffirmation agreement. Your failure to comply with the...
Feb 6, 2022 | FAQ, General Bankruptcy, Tax, Tax Issues
Taxes are among the worst debts to have. By filing your returns timely, you can avoid having these debts. Tax debts grow at a very fast rate. In addition to the interest, there are penalties. From IRS form 746: “We may charge penalties if you do not...
Jan 30, 2022 | Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, FAQ, Tax, Tax Issues
It’s tax season, so that makes it a good time to answer this frequently asked question: SHOULD I FILE MY TAX RETURNS BEFORE OR AFTER I FILE BANKRUPTCY? It is probably better to file tax returns before you file bankruptcy. This is likely true whether you have a...
Jan 17, 2022 | Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Declaring Bankruptcy, FAQ
There are a number of signs that you should be reviewing your financial situation and considering bankruptcy. They include the following: Your wages or bank accounts are being garnished. Your hard-earned labor is being taken away from you by force. (If this is...
Jan 13, 2022 | Bankruptcy, Divorce & Bankruptcy, Divorce & Bankruptcy, Family issues, FAQ
Let’s start with what debts you cannot discharge. Those would be child support and maintenance. These debts cannot be discharged in any form of bankruptcy. No debts arising from a divorce can be discharged in a Chapter 7. So if you are planning on discharging some of...
Jan 11, 2022 | Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, FAQ, Financial Problems, General Bankruptcy
Probably not. We want our clients to be able to earn as much as possible, and part of our job is to make sure that any income they have is protected. The amount of income debtors have can affect their case, depending on the chapter they are filing under and their...
