Typically, tax debt is considered to be “secured debt” and takes precedence even over student loans. What this means is that most people will still owe back taxes, even after filing for bankruptcy. However, there are some unique circumstances in which bankruptcy will allow tax debt to be discharged like other debts in a Chapter… Read More »

While many people do not have the option to choose between Chapter 7 bankruptcy and Chapter 13 bankruptcy based on their finances and the debts they owe, some people do have the ability to select which type of bankruptcy works best for their situation. If you pass the means test and are eligible for Chapter… Read More »

Many people who file for bankruptcy want to know when they should stop paying creditors. Depending on the type of bankruptcy you file and what types of debt you owe, it may or may not be wise to stop paying your creditors before you file for bankruptcy. Here’s what you need to know. Tax Debts… Read More »

If your rental property is going into foreclosure, you need to take action immediately. Here’s what you need to know. 1. You Must Inform Your Tenant of Impending Foreclosure If you received notice from your lending institution that they intend to foreclose on the property you are renting out, you need to let your tenant(s)… Read More »

In a Chapter 13 bankruptcy, you must submit a budget to the court in order to determine what your disposable income is and what you may be able to pay the court during your repayment plan. If you’ve not ever budgeted, or have tried unsuccessfully to budget, coming up with one before bankruptcy can be… Read More »