What To Know About Discharging Tax Debts During A Chapter 7 Bankruptcy

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When your debts become so overwhelming that bankruptcy seems like the best choice, there’s likely a component of your debt that is owed to the Internal Revenue Service for personal or business taxes. In fact, many people are only interested in filing for Chapter 7 bankruptcy in particular because they’re having trouble paying back the IRS. Before assuming that filing for bankruptcy will eliminate your issues with taxes, make sure you understand these four facts about discharging tax debts with Chapter 7 filings in particular.…

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Three Benefits Of Working With A Personal Injury Attorney

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One of the best courses of action that you can take following an accident is to retain the services of an experienced attorney. Unfortunately, some accident victims will not understand the full range of services that an experienced personal injury attorney can provide. Evaluate Your Case It can be exceedingly difficult for you to understand the legal nuance that is required to properly evaluate a case. Unfortunately, without an accurate evaluation, it can be impossible to know whether pursuing the matter will be a worthwhile venture.…

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Have A High-Cost Mortgage? There May Be Special Protections Available To Help You Avoid Foreclosure

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If the bank is threatening to take your home or has initiated the foreclosure process, one way to defend against this action is to invoke the special protections provided to people who have high-cost mortgages. These are loans that have higher than normal interest rates (among other qualifications) that may put borrowers at a greater risk of defaulting. Here’s more information about this option and how it can benefit you.…

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Considering Chapter 7 Bankruptcy As a Senior Citizen? 2 Ways It Will Impact Your Income

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When filing for Chapter 7 bankruptcy as a senior citizen, it is important that you understand how filing for bankruptcy will impact your income, which at this point in your life is most likely coming from retirement accounts as well as social-security payments.  #1: Retirement Accounts When you file for bankruptcy, the money that you have saved up in your retirement accounts is generally protected by federal law. This protection was put in place to encourage people, even those in debt, to save for their retirement.…

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How To Know If It Is Time To Consider Filing For Bankruptcy

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Deciding whether to file for bankruptcy can be a tough decision, especially if you are not aware of the signs that you need to be looking for. To help you decide if it might be time to consider filing for bankruptcy, you will want to check out the following points. Collection Calls Will Not Stop If you are unable to make suitable payment arrangements with your creditors, it is unlikely that they are going to stop placing their collection calls.…

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Filing For Bankruptcy? Never Try To Conceal Your Assets From The Court

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The recent furor over some social media posts by rapper 50 Cent brings to light something people should know about bankruptcy — you can’t use it to avoid paying your debts if you actually have the money or assets to do so. Try it, and you just might find yourself hauled back into bankruptcy court for a fraud investigation. This is what you should know. You have to tell the court everything.…

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4 Tips For Filing For Bankruptcy With Medical Debt & Ongoing Injuries

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When dealing with an ongoing illness or injury, you don’t realize how quickly medical bills can add up. If you cannot handle the medical debt that you have, then one of your options is to file for bankruptcy. An attorney can help you through the process and give you guidance on the steps you need to take. If you still have an ongoing illness or injury, then there are four tips you should follow before filing.…

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Bankruptcy, Automatic Stays And Evictions

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Being threatened with eviction is usually just one symptom of many other underlying financial problems that may lead you to consider filing for bankruptcy. Once you are behind on bills, including your rent, the resulting burden of bills can begin to feel like an avalanche of debt. While dealing with collection agencies can be annoying, worry about you and your family being put out on the street can ratchet the stress level even higher.…

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Mortgages And Bankruptcy: What Happens?

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When you are thinking about filing bankruptcy one of the biggest concerns is often: what will happen to your mortgage? Will filing bankruptcy help prevent foreclosure on your home? Will it be able to reduce your monthly payments? The answers depend mainly on the type of bankruptcy that you file. You can choose either Chapter 7 or Chapter 13, and each works very differently.   Your Mortgage Under Chapter 7…

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3 Legal Options To Handle A Chapter 13 Plan After A Spouse Dies

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A major part of a Chapter 13 bankruptcy filing is the repayment plan. If you fail to make the scheduled payments on time, your bankruptcy status could be in jeopardy. If you and your spouse filed together and he or she dies while the plan is still in effect, you have several options available to deal with the remaining payments.  Request a Modification Modifications to repayment plan are sometimes allowed by the bankruptcy court if there is a situation that warrants it.…

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