The tax debts that are most likely to be dischargeable are older federal or state income taxes. People often summarize the federal rules with the “3-2-240” timing test: the return was due at least three years ago, the return was filed at least two years ago, and the...
So many of us encounter financial hardship at some point in our lives. Ranging from small, unexpected bills to catastrophic expenses, even the most prepared can find themselves up against a monetary wall. In extreme circumstances, individuals may find themselves...
You work hard every day to keep your finances in order, but life is full of unexpected turns. When living under the shadow of financial hardship, you may begin to consider bankruptcy. Most people know that bankruptcy is a legal process that helps grant relief from...
Most individuals look forward to the time when they no longer have to go to work every day and can instead retire, which is why we start saving for retirement during our 20’s and 30’s. In fact, the sooner you start saving and investing, the better! Sometimes though,...
Going through bankruptcy isn’t easy. It can be stressful and confusing, but when it is handled correctly, it can lead to a hopeful future directed by clear financial planning. Life after bankruptcy can be a happy one since the previous burdens have been lifted. Once...
Chapter 7 bankruptcies clear all debts eligible for discharge, allowing the petitioner to walk away from them forever. For those with large amounts of dischargeable debts, Chapter 7 often provides more advantages than Chapter 13. A bankruptcy attorney helps determine...
