If I Am Being Sued by a Creditor Can Bankruptcy Get Rid of the Lawsuit? Getting rid of a lawsuit in bankruptcy depends on a few factors. One of the main factors includes determining if the liability associated with it is dischargeable. Sometimes a debtor may receive a lawsuit or learn of being sued and ignore [...]
Using Bankruptcy to Stop Credit Card Collections Can Bankruptcy Stop Credit Card Collections? Bankruptcy CAN stop collection attempts from credit card companies that include lawsuits or other forms of legal action. The automatic stay offers protection from collection attempts and stays in place until your case is completed. The stay goes into effect when you file bankruptcy, either Chapter [...]
When you file for bankruptcy, you immediately qualify for an automatic stay against creditor actions. This includes landlords evictions. Depending on why you’re being evicted, the automatic stay can buy you significant time to either come up with money or move out of your rental without being forced out by your landlord. In this [...]
How Does The Automatic Stay Help Those Filing for Bankruptcy Filing bankruptcy can be an intimidating decision. But, did you know that there are various tools that can protect you during the process? In fact, one of the most beneficial tools for those filing bankruptcy is the automatic stay. The automatic stay is a part [...]
Social Security And Taxes Many senior citizens preparing for retirement may not realize that their Social Security income could be taxable under certain conditions. When determining whether Social Security income is taxable the government uses a formula that calculates the taxable amount. Basically when a senior citizen's income from other sources, such as a 401K [...]
Tax Deductions You Don't Want To Forget Property taxes - Combined with the new homebuyer tax credit this deduction can save many homeowners a lot on their taxes. You can add this deduction to your standard deduction if you don't itemize, or if you choose, you can add it to you itemized deductions. Sales taxes [...]
Getting Rid of Back Taxes in Bankruptcy and What You Should Know Bankruptcy can help you eliminate back income taxes depending on your situation and qualifications. You can file Chapter 7 bankruptcy to discharge tax debt that qualifies under the bankruptcy code. If your debt does not meet these qualifications, you may consider Chapter 13 [...]
Getting Relief from Tax-Debt Garnishments Most people have at least passing knowledge of wage garnishment –the process of deducting money from an employee’s monetary compensation (including salary) as a result of a court order. Fortunately for those who find themselves in the unfortunate position of having their wages garnished, these payments are limited by federal [...]
What Bankruptcy Can & Cannot Do For Federal Tax Debt If you have federal tax debt, you may be wondering if filing for bankruptcy can do anything to help your situation. You may have even heard commercials offering the hope of tax debt relief in bankruptcy, but it’s actually not that simple. Most tax debts [...]
We know that filing for bankruptcy can be a stressful ordeal. And while you may feel relief after your case closes, the decisions you make in your life after bankruptcy are just as (if not more) important. To learn more about how to regain control of your finances after filing bankruptcy, contact a skilled bankruptcy [...]
