Tax Debt and Bankruptcy[/caption] It is not unusual for people find themselves in a debt situation that has gotten out of control. And if you are struggling financially, the last thing you need is tax debt and the very real possibility of dealing with the IRS. In...
Year: 2015
Business Bankruptcy: Not always the Best Way to Save Your Business
Many people hit a wall financially and think that bankruptcy is their only option. However, there may be better options instead of a bankruptcy. A good bankruptcy attorney will help you find out what option is best for you. In this article we will explore...
What do I do When I’m a Creditor in a Bankruptcy?
Creditor's rights are the laws to protect the entitlement of creditors/lenders to collect the money they are rightfully owed. Before recommending a course of action, when a bankruptcy is filed, the creditor's lawyer will evaluate the specifics unique to the debtor's...
Can I discharge my tax debt in a Bankruptcy?
It depends. It is not unusual for tax debt to send people into bankruptcy. If you find yourself with tax debt you cannot pay you have options. However, not all taxes are dischargeable and figuring out which taxes are dischargeable is confusing and...
3 Things To Know About Your Bank Account When Filing Bankruptcy
Under the Bankruptcy Code, you have certain rights and protection as a debtor in bankruptcy. Although limited, your creditors also have certain rights and protections. Your bank is a creditor and banks, credit unions and other financial institutions may...
What do I need to Know before I File for Bankruptcy?
Under the bankruptcy laws, it is acknowledged that, at some time prior to filing for bankruptcy, you formed the intent to file for bankruptcy. Therefore, once you have made the decision to file bankruptcy, continuing to use credit is considered an abuse of your...
More Answers to Common Bankruptcy Questions
Courtesy of the National Consumer Law Center and the State Bar of New Mexico Do I Still Owe Secured Debts (Mortgages, Car Loans) After Bankruptcy?Yes and No.The term "secured debt" applies when you give the lender a mortgage, deed of trust or lien on property as...
5 Common Misconceptions About Business Bankruptcy
5 Common Misconceptions about Filing for Business Bankruptcy If you are reading this, more than likely you are a business owner, your debt is piling up and you may be asking yourself: How did this happen? Am I ever going to find my way out? Is...
Answers To Common Bankruptcy Questions
Answers to Common Bankruptcy QuestionsCourtesy of the National Consumer Law Center and the State Bar of New Mexico A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems.What is...
4 Alternatives to Filing for Chapter 7 Bankruptcy
If you are reading this, more than likely you have found yourself in an unsustainable debt situation, and you may be asking yourself: How did I get here? How am I ever going to find my way out? What are my options? Or, am I just doomed to...
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