Top 4 Tax Problems in Bankruptcy
The top 4 tax problems in bankruptcy are not particularly easy to avoid. For those facing money problems, taxes are often an afterthought. After all, paying taxes means less money in your paycheck. But the tax problems that most frequently occur in bankruptcy are actually violations of intuitive rules. Tax Problems in Bankruptcy: Chapter 7 […]
Can Foreclosure Be Stopped Without Filing for Bankruptcy?
If you’re facing foreclosure proceedings, bankruptcy may be the last thing on your mind. But you should consider bankruptcy both your first option — and your last — if you are in foreclosure. One question I get asked all the time: Can Foreclosure Be Stopped Without Filing for Bankruptcy? Bankruptcy Stops Foreclosure Proceedings Chapter 13 […]
The Fake News About Bankruptcy
Last week, Donald Trump declared that the “FAKE NEWS media . . . is the enemy of the American People!” There’s a lot of fake news flying around today. Here’s some of the fake news about bankruptcy. FAKE NEWS: President Donald Trump has declared bankruptcy multiple times. FACT: Donald Trump has never declared personal bankruptcy. If you […]
What Does It Mean When a Debt is Charged Off?
Many people experience a feeling of relief when they see on their credit reports that an old debt has been marked as “Charged Off.” Some think that these debts have been forgiven because a creditor has charged off the debt. But what exactly does it mean when a debt is charged off? You Still Owe […]
Bankruptcy Stops Eviction — Unless There’s an Eviction Order
If you are behind on your rent, bankruptcy may a good option for you. In many situations, Section 362 of the Bankruptcy Code (the Automatic Stay) can stop your landlord from continuing eviction proceedings. In fact, bankruptcy stops eviction in almost every case, but not all. If your landlord has obtained a writ of possession, […]
What Happens to Student Loans in Chapter 13 Bankruptcy?
Student loans remain valid debts after discharge in either Chapter 7 bankruptcy or Chapter 13 bankruptcy. However, paying your student loans in Chapter 13 bankruptcy allows you some breathing room to pay your other debts. What Is Chapter 13? Chapter 13 bankruptcy is sometimes called the “wage-earner’s bankruptcy.” Many people who do not qualify for Chapter […]
Wiping Out Parking Tickets in Bankruptcy
You can discharge only very old parking tickets in bankruptcy, after they have been sent to a third-party debt collector. Otherwise, parking tickets pass through the Chapter 7 bankruptcy discharge because they are debts owed to a “governmental unit.” Parking Tickets in Bankruptcy Unfortunately, in most cases parking tickets cannot be discharged in Chapter 7 […]
Bankruptcy in the Bible
Deuteronomy defines bankruptcy in the Bible. But the Bible also frequently mentions lending, fair pay, creditors, interest payments, and money in general. Let’s start out with one of Jesus’ most important messages before we take a look at the Old Testament. The Golden Rule You may know of the so-called Golden Rule from the Sermon on […]
Top 9 Financial Fears of Americans
An early 2016 study by insurance and investing behemoth Northwestern Mutual revealed some interesting insights into several issues impacting people’s long-term financial security. Here are the top 9 financial fears in America. The 9 Biggest Financial Fears for Americans Number One and Number Two on the list of biggest financial fears are really just the same thing: […]