Can Tax Debt Help In Bankruptcy?
Overwhelming consumer debt and unpaid tax debt can feel like a one-two punch. To recover from the consumer debt hit, some consumer debtors must pass a means test and prove they are poor enough to qualify for bankruptcy relief. This can be a problem if household income is above median for the state. But, the […]
Credit Card Judgment: Too Late For Bankruptcy?
Credit card companies file lawsuits to show they’re upset and they miss your payment. If they win, they have a judgment against you. It’s not unusual for debt collectors to say bankruptcy doesn’t “work” then. They’re wrong! Bankruptcy filings stop collection of debt in its tracks. That’s why debt collectors lie about it. (You probably […]
What is the Difference Between Conventional and a Prepackaged Chapter 11 Bankruptcy?
Conventional bankruptcy: This is usually when a business files bankruptcy in a response to a crisis. However, when a business files bankruptcy without at least some prior negotiation with creditors, no one can really be sure how a case will turn out. For example, many businesses have bank loans, and those banks have blanket liens […]