One way to get out of debt without filing for bankruptcy is to focus on spending reduction. This involves taking a hard look at your spending habits and getting rid of unnecessary expenses. Start by making a list of all your expenses so that you can prioritize which ones to cut out and ...
If your credit card debt balloons and becomes unmanageable, you may find that you'reseriously considering bankruptcyas a solution to your high-rate debt. But while filing for bankruptcy can result in discharging or restructuring your debt, allowing you to start fresh, it also carries significant ...
You may or may not know that there are different types of bankruptcy filings. These types are called chapters because they refer to different chapters in the United States Bankruptcy Code. Each of these chapters allow for different types of debt relief for different types of individuals and entit...
Have all avenues to avoid bankruptcy been exhausted? This is the single most important question to ask yourself. Have you done everything you could to avoid bankruptcy? Do you still feel like there's no way out of debt? If so, chances are that bankruptcy is worth it in your situation no...
So while past taxes might have been discharged in the bankruptcy, beware of new taxes -- or any other new debt. Again, though, the most important thing is to file a return, even if you know you will owe taxes, and then try to work out a payment plan through the IRS if you are ...
Thinking about filing bankruptcy to get rid of your IRS debt? ContactKampeska Tax Advisorsfor immediate help Email or Call Us (800) 351-3588
Bankruptcy:While it should be considered as a last resort, filing for bankruptcy may provide temporary relief by halting foreclosure proceedings and allowing homeowners to reorganize their debts. Bankruptcy laws and eligibility criteria vary, so consulting a bankruptcy attorney is essential. ...
L.L.P. Chris is a native of New Jersey and landed in Texas after graduating from the Thomas M. Cooley School of Law in Lansing, Michigan. Chris has experience with personal bankruptcy, estate planning, family law, divorce, child custody, debt relief lawsuits, and personal injury. If you ...
it’s a powerful option to consider. Many people have filed bankruptcy and come through it much improved, financially and psychologically. Bankruptcy can often be the only logical path to financial freedom and fresh start, and getting free of the burden of debt can release creativity and strength...
Congress had previously set a higher bar for discharging student loan debt when compared to other types of debt like medical or credit card, requiring borrowers who seek to file for bankruptcy to demonstrate they will suffer "undue hardship" if the debt is not discharged. ...