“The (post-petition tax) debt isn't discharged in the bankruptcy case, and the bankruptcy code prohibits filing for a Chapter 7 bankruptcy more than once every eight years,” he said. “So that debt wouldn't be going anywhere.” So while past taxes might have been discharged in the ban...
If any loans have a cosigner, 13 removes the obligation from the cosigner. It protects assets that Chapter 7 required you to sell. This form of bankruptcy may allow a debtor to pay his or her attorney’s fees over the course of the bankruptcy, not upfront. Expert advice:As with any ba...
AChapter 7 bankruptcyis all about selling anything valuable you own — a second vehicle, a vacation home, collectibles, stocks, bonds — to pay off your debts. Generally, this type of bankruptcy wipes out all of your outstanding debts once a judge approves your filing in court. The whole p...
Certain asbestos companies were court-ordered to establish bankruptcy trusts to compensate people harmed by their products.Asbestos trustscurrently contain over $30 billion for current and future mesothelioma victims. See if you can access trust funds.Our team can filemultiple claimson your behalf if ...
mismanage their money. If you want to be one of the people who succeeds where others often fail, then realize that filing bankruptcy is only the first step in the process. All the other steps are doing whatever you need to do to keep yourself from getting overwhelmed with debt ever again...
company (LLC) is a type of corporate entity that shields its owners from being held accountable for the debts and obligations of the company. The proprietors of a limited liability corporation are not required to give up their personal assets in the event that the firm files for bankruptcy. ...
Chapter 13 bankruptcy, also known as a wage earner’s plan, is a type of bankruptcy filing available to individuals with a regular income. Unlike Chapter 7 bankruptcy, which involves liquidating assets to pay off debts, Chapter 13 bankruptcy allows individuals to establish a repayment plan that ...
Depending on the type of bankruptcy you file for, it can take up to 10 years for this proceeding to stay on your credit record. If you are filing for a Chapter 7 bankruptcy, it will usually take about 120 days for the case to be closed. This bankruptcy will stay on your record for...