Chapter 13 bankruptcy is inflexible and will mean having to follow a court-ordered repayment plan for up to five years. Here are some other options to consider to manage your debt: Debt Snowball If you have a steady income and the ability to make payments on some of your debt, a ...
Don't make a decision about bankruptcy before exploring the alternatives available to you.Getty Images If you're facing serious financial difficulties,the prospect of bankruptcymay seem like the only viable solution — especially as your debts and related financial pressures continue to grow. But whi...
Reports on the impact of the bankruptcy filing made by WorldCom Inc. in July 2002. View of the Communications Managers Association on the filing; Purpose of the bankruptcy filing; Number of days required by the U.S. Federal Communications Commission before any WorldCom services could be ...
Filing bankruptcy before the sale eliminates having this tax debt. In Kentucky, at the moment the auction occurs, the lender obtains a judgment for the deficiency. Fannie Mae announced in 10-2010 that they would sue and attempt to collect any deficiency. Bankruptcy eliminates garnishment of wages...
The taxes must have been due more than three years before filing bankruptcy. You must have filed your return more than two years before filing bankruptcy. The taxes must have been assessed at least 240 days prior to filing bankruptcy.
The future of LL Flooring is up in the air, and that includeswhat might happen to storeslike the one in Johnson City. The potential bankruptcy filing and the ongoing push to secure more funding and manage their financial obligations will play a big role in shaping what comes next for the ...
Other options include working with tax professionals, such as a CPA, or filing for bankruptcy.If you don’t want to deal with the IRS directly, you can also work with a tax debt relief company. However, make sure to understand the fees you’re going to pay for using one, as well as...
Chapter 7 Bankruptcy Laws that you must know before filing. Bankruptcy Chapter 7 Means Test Find out if you have to take the Bankruptcy Chapter 7 Means Test, and if you do, how to take it and pass Foreclosure Help BLOG New foreclosure help tips, strategies, success stories, and questions ...
New Low Prices! No-Fee ($0) Filing Options! Free phone consult and case evaluation in Kansas and Missouri with a Kansas City bankruptcy lawyer.
For example, the tools of your trade are usually protected, so you wouldn't want to sell them before the bankruptcy filing — you'd be turning a protected asset into something that's up for grabs. Those are the options that I can think of, for people who are underwater on their ...