Timing Bankruptcy to Discharge Income Taxes
Usually you can discharge income taxes write them off forever by waiting to file bankruptcy long enough. Here's how it works under Chapter 7.
Timing Bankruptcy To Include All Debts
Bankruptcy includes all debts you owe at the moment of filing your case, not future debts. So how do you know when to file your case?
Timing Your Bankruptcy
The timing of your bankruptcy case is important, sometimes extremely important. It can determine if your case is as successful as it can be.
Paying Unpaid Child/Spousal Support before Bankruptcy
Before filing bankruptcy, you should know the implications of an unpaid child/spousal support debt. Payment may depend on whether you file Chapter 7 or 13.
Unfiled Tax Returns and Bankruptcy
If you're considering filing bankruptcy, should you first prepare and submit any unfiled income tax returns? Should you prioritize paying them?
More Actions to Take When Considering Bankruptcy
If you're considering filing bankruptcy, what debts can you incur and which should you avoid? What are the possible consequences?
Actions To Take When Considering Bankruptcy
If you’re considering bankruptcy, generally don’t sell or give away your possessions—including collateral—or use retirement money. Two weeks ago, we made the... Read More
Priority Debt for Driving While Intoxicated
If you injured someone by unlawfully driving while intoxicated, the resulting personal injury debt would be a priority debt in bankruptcy.
The Best Bankruptcy Advice: Get Legal Advice
Businesses considering bankruptcy get intense legal advice before filing. You would also be smart to get solid advice to make a good decision.
Paying Missed Mortgage Forbearance Payments
If you took advantage of the mortgage forbearance payment option under the CARES Act, when do you have to catch up on those missed payments?
Pandemic Mortgage Forbearance
Mortgage delinquencies skyrocketed in April. One big reason: the pandemic mortgage forbearance through the CARES Act.
Avoiding Paying Prior Employee Debt
If you prefer NOT to pay back present or prior employee debt, bankruptcy can help you use the law to prevent it from being a priority debt.
Paying Employee Debt in Chapter 13
If you prefer to pay back wages to a present or prior employee, you can do so in Chapter 13 especially well if that debt is a priority one.
Consumer Bankruptcies Sharply Decrease in April
After declining significantly since 2010, and then edging up in the first three months of this year, consumer bankruptcies sharply decline in April.
New Modified 7-Year Chapter 13 Plans
The coronavirus CARES Act temporarily allows ongoing Chapter 13 plans to be amended or "modified" to last a total of 7 years (instead of 5).
