Timing of Non-Vehicle Collateral Cramdown
Cramdown is most familiarly known as a tool to decrease monthly payments on vehicle loans. But you can also cram down debt on other collateral.
Crucial Question: When Can I File Another Bankruptcy?
It's a matter of timing. And that timing depends on whether you previously filed under Chapter 7 or 13, and what you are filing under now.
Answers about Medical Debt that causes Bankruptcy
Although there is no such thing as medical bankruptcy, medical debt causes many people to file bankruptcy. Below is a Q&A about these issues.
Timing Chapter 13 to Discharge Income Taxes
Chapter 13 can discharge income taxes (write them off forever) if you wait long enough to file bankruptcy. Here’s how it works.
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.
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.
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).
Priority Debts in No-Asset Cases
Priority debts are largely unaffected by a Chapter 7 case--it does not discharge them, so you need to pay them after finishing your case.
New Debt Limits Are Now in Effect in Chapter 13 Cases
As of April 1, you can owe more debt and still qualify for Chapter 13.
File a Partial-Year Tax Return for All Income Taxes
To avoid owing income taxes April 15 of NEXT year, file a partial-year tax return and pay the tax on it through your Chapter 13 case.
Use Ch. 7 or Ch. 13 to Resolve Your Tax Debts
If you had struggled to keep a business open, but have decided to throw in the towel, there's a good chance you owe taxes. Here's how to deal with them.
Keep Running Your Business with Chapter 13
If you and your sole proprietorship business have fallen behind on taxes, Chapter 13 keeps you in business while solving your tax debt problems.
Income Tax Refunds in Bankruptcy-Chapter 13
If you're filing an "adjustment of debts" Chapter 13 case, what choices do you have about your income tax refund?
Historical and Personal Facts about Income Taxes
With the income tax return filing deadline of April 15 now one month away, here is our effort at making taxes interesting.
