Bankruptcy permanently writes off income taxes, as long as the tax meets certain conditions. For some taxes the conditions are easy to meet.
Bankruptcy is about writing off or discharging debts. The timing of discharge is quite different in Chapter 7 and 13; both are permanent.
You pay your general unsecured debts only as much as you can afford during a Chapter 13 plan, with the rest then legally written off forever.
Chapter 7's big advantage is that it's quick. Chapter 13's big advantage is that it buys you more time to do what you want or need to do.
Using a credit card shortly before filing bankruptcy doesn't seem right. The law agrees. Writing off this kind of debt can be a problem.
How to know whether to delay filing bankruptcy when you're expecting new medical services and their medical debts? Here are two examples.
What does the completion of a successful 3-to-year Chapter 13 case look like?What happens to your assets and debts?
Finishing a Chapter 13 case successfully is a big deal. It is rewarding financially and emotionally. Here's how it happens.
If getting separated or divorced while in a Chapter 13 case, you'll likely each need a new lawyer for independent advice about what to do.
The Bankruptcy Code explicitly says that, at the request of the person in a Chapter 13 case, the bankruptcy "court shall dismiss" the case.
If you're behind on support payments, filing under Chapter 13 can legally stop your ex-spouse and support enforcement from pursuing you.
Don't be afraid to file bankruptcy because of how it would affect a co-signer. Your bankruptcy often actually helps that co-signer.
In our example of the adversary proceeding about whether a debt gets discharged, here is the bankruptcy court's ruling on the matter.
In our example about the adversary proceeding about whether a debt gets discharged, here are the creditor's and debtor's closing arguments.
In our example about the process about whether a debt gets discharged, here's what happens at the bankruptcy court trial itself.