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Bankruptcy Blog

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How Long Can The IRS Collect From You?

Jul 13, 2015 By: Mike Cibik

Bankruptcy is not always the best way to get rid of federal tax debt. Given enough time, the tax may just go away. The IRS is given 10 years from the date the tax is assessed to collect in most cases by 26 USC §6502, a section of the Internal Revenue Code. The date after…

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What Are The Risks of Co-Signing a Loan?

Jul 13, 2015 By: Mike Cibik

Co-signing a loan is a dangerous thing. Too many people end up in bankruptcy due to debts they just co-signed for, so here are a few points worth considering before co-signing for a friend or family member. 1. There is a reason they need a co-signor. A professional lender does not think they will pay…

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Will Bankruptcy Stop Annoying Phone Calls?

Jul 13, 2015 By: Mike Cibik

The minute you file bankruptcy, the Bankruptcy Court issues an order telling all of your creditors to leave you alone. No more phone calls. No more collection letters. No more lawsuits. No garnishments. No repossessions. No foreclosures. Nothing. No actions whatsoever against you or your assets. This order has a name. It is called the…

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celebrities-file-bankruptcy

Celebrities File Bankruptcy Too!

Jul 13, 2015 By: Mike Cibik

In the mid 80′s to early 90′s, a television show, “Lifestyles of the Rich and Famous” was broadcast in America with its host, Robin Leach, showing the everyday American how the rich and famous lived their lives, often on exotic vacations. Celebrities are often admired, imitated and fawned over in our society. But when you…

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bankruptcy-for-medical-bills

Can I File Bankruptcy Just on Medical Bills?

Jul 13, 2015 By: Mike Cibik

I often get a call from a potential client asking whether they can file for bankruptcy just on their medical bills, and not include their credit cards or other debts.

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repossessed-car

Can Bankruptcy Help Get Your Repossessed Car Back?

Jul 13, 2015 By: Mike Cibik

It’s early in the morning and you are just stepping out of the door to go to work and your car is not where you left it! Oh, no! You knew that you were a couple of months behind on your car payments and the creditor was calling but you didn’t quite expect this! So,…

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