Blog Posts in 2013

  • Can bankruptcy help you catch up on delinquent real estate taxes which have been sold to a tax purchaser? Perhaps, through a chapter 13 bankruptcy. A chapter 13 is essentially a consolidation of your debt. Your debt is combined into one payment which is made each month to a trustee. The trustee then pays your creditors according to the terms and conditions of your chapter 13 plan which generally ...
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  • Credit card debt is the worst. They are designed to keep you in debt for the better part of your life. If you carry a balance on your credit cards and are just making the minimum monthly payments, it will take you years, if not decades, to pay off the debt. Also, you'll be paying thousands of dollars in interest. For example, if you have $50,000 in credit card debt, an APR of 16.9%, and a ...
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  • There is a common misconception that income taxes cannot be discharged in a chapter 7 bankruptcy. Well, this is true regarding some income tax debt but not all. Income taxes may be discharged in bankruptcy if the following five criteria are met: The taxes must be more than three years old. The clock starts ticking the date the tax return is due, not when the return was filed. If the tax year in ...
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  • Lawsuits cause a lot of stress. Ten of thousands of lawsuits are filed every week by creditors seeking to collect on all types of debts, including credit cards, medical bills and foreclosure deficiencies. If you do in fact owe the money, there are few legitimate defenses that will prevent a judgment. When you are served with a summons and lawsuit, you must take action immediately…it will ...
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