Blog Posts in June, 2013

  • 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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