Bankruptcy may discharge tax liability, but a discharge of taxes is a complicated and technical process. First off, only income tax debt can be discharged, it does not work on sales taxes or employee withholding taxes. The best way to be sure that your taxes will be discharged in a bankruptcy is to talk with an attorney who will check into the circumstances surrounding your … [Read more...] about Dealing with Taxes in Bankruptcy
Bankruptcy
Chapter 13 Bankruptcy Can Stop a Foreclosure Sale
Yes, a Chapter 13 bankruptcy case can stop the foreclosure sale immediately. In a Chapter 13 case you can catch up on your mortgage arrearage over time as well as deal with your other debts. This is a very powerful tool. If you live in Louisville or its surrounding areas and your home is in foreclosure you should consider Chapter 13 bankruptcy. The bankruptcy automatic … [Read more...] about Chapter 13 Bankruptcy Can Stop a Foreclosure Sale
Bankruptcy v. Debt Settlement
When it comes to making a decision as to Debt Settlement or Bankruptcy, you should carefully consider the benefits and consequences of both options. Neither decision should be made lightly and they both have repercussions. As a bankruptcy practitioner, I meet with lots of people who have tried debt consolidation using debt settlement companies and have paid large fees to … [Read more...] about Bankruptcy v. Debt Settlement
Slower consumer credit growth indicates tough financial times
Federal Reserve says that many Americans are still struggling to get by A number of recent reports are showing that even after the Great Recession officially ended in 2009, many Americans are still struggling to pay bills and save for retirement. According to the Lexington Herald-Leader, the Federal Reserve is reporting that 25 percent of Americans are "just getting by." … [Read more...] about Slower consumer credit growth indicates tough financial times
Kentucky has one of the highest rates of delinquent debt in the country
Experts say stagnant wages and large retiree population lead to higher rates in the South The Urban Institute, a Washington-based think tank, has released a report showing that a shockingly high percentage of Americans are struggling to pay off debts. The report found that over a third of Americans with credit files currently have a debt that is in collections, according to … [Read more...] about Kentucky has one of the highest rates of delinquent debt in the country