When someone files a bankruptcy and tax debt is owed, most of said taxes are considered priority debts in bankruptcy. What that means is that you can’t wipe out or eliminate your tax obligation simply by filing a bankruptcy. Rather, the Bankruptcy Code requires...
In movies and the media, bankruptcy is often portrayed as a devastating process that strips the filer of all possessions, including their homes. It is no surprise that many people who want to file for bankruptcy hesitate because they are concerned they could lose...
Bankruptcy can clear away your debt but it does more. When you file for bankruptcy, you will also gain access to bankruptcy protections that can bring peace of mind into your life during and after your bankruptcy filing. Generally, all creditors that you listed on...
A successful bankruptcy filing will bring about many positives into your life. Most notably, the discharging or minimization of your debts and tax obligations will provide you with financial security and peace of mind. However, bankruptcy does not come without risks...
Hiring an attorney is a personal decision. Individuals who file bankruptcy can do so pro se; that is, they represent themselves. However, filing for bankruptcy is a complicated matter. Because of the intricacies of bankruptcy law, it’s a wise decision to hire an...
Bankruptcy is a powerful legal tool that allows people to discharge or minimize debts as well as tax obligations. However, due to its effectiveness, not just everyone is permitted to actually use a bankruptcy filing. There are strict regulations, laws, and guidelines...
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