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Filing-for-Bankruptcy

Should You Buy a Car Prior to Filing Bankruptcy?

Jul 21, 2015 By: Mike Cibik

Buying a Car Prior to Filing Bankruptcy Filing bankruptcy is not easy and cannot be done alone.  It is not a matter of just going to your bankruptcy lawyer’s office, plunking your money down, and signing a few documents. It involves planning. The right planning involves an experienced bankruptcy attorney to help you through this…

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Can I Discharge Tax on Late Filed Returns?

Jul 21, 2015 By: Mike Cibik

Bankruptcy can discharge income tax if certain conditions are met.  One required condition is that returns must have been filed.  Some bankruptcy courts have recently taken the position that a return filed after the statutory deadline does not qualify as a return for the purpose of bankruptcy discharge. 

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Credit-Report-Errors

Credit Report Errors Cause Higher Interest Rates

Jul 21, 2015 By: Mike Cibik

After filing bankruptcy people are often interested in trying to rebuild their credit, and a Chapter 7 or Chapter 13 bankruptcy can be a good first step to repairing your credit. The information contained in your credit report is important and that information must be accurate. Credit reporting agencies (CRA) such as Experian, Equifax and…

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File-for-bankruptcy

Can An Illegal Immigrant File For Bankruptcy?

Jul 21, 2015 By: Mike Cibik

An illegal immigrant can file for bankruptcy in the United States.  There is no reference to a citizenship requirement in the Bankruptcy Law.  US Code §109 provides the requirements to be a “debtor.”

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How to Understand the Chapter 13 Plan Payment

Jul 21, 2015 By: Mike Cibik

A chapter 13 bankruptcy is a plan to re-organize a debtor’s liabilities and get a fresh start unburdened by mounting unsecured debt (credit cards, medical bills, etc.). Such a plan requires payments to a bankruptcy trustee or administer. But how much are those payments?

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Chapter-7-Business-Bankruptcy

Why File Chapter 7 Business Bankruptcy?

Jul 21, 2015 By: Mike Cibik

Corporations and LLC’s don’t get a discharge in a Chapter 7 bankruptcy, so what’s the point of filing? Ensuring that business assets go to pay payroll, benefits, and taxes is a compelling reason.

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