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Under certain circumstances, certain taxes can be discharged in bankruptcy. Very specific timing rules must be considered before you decide that bankruptcy is the answer to […]

What’s a Discharge? In both Chapter 7 (liquidation) and Chapter 13 (readjustment of debts), the bankruptcy court will grant you a discharge from your debts. This […]

Bankruptcy is provided by Federal Law and all the cases related to bankruptcy are handled in Federal Court. Basically it is a legally declared by the […]

There are two broad forms of bankruptcy, no matter your definition – Liquidation and reorganization. Liquidation is provided for in the United States under Chapter 7 […]

Exempt vs. Non-exempt Property Under Chapter 7 In a Chapter 7 liquidation case, the debtor must relinquish certain property to the bankruptcy trustee so that he […]

While federal law allows financially overwhelmed people to pursue debt relief through bankruptcy, such legal debt forgiveness is not automatic, according to the book “How to […]

People who live or have a business or property in the United States can file for Chapter 7 bankruptcy in a federal court. Chapter 7 is […]

The issue is the treatment of student loans in the federal bankruptcy code and whether this treatment ought to change. Currently, it’s nearly impossible for people […]

Events occur that financially devastate individuals and families. People lose jobs, go through divorce, or incur significant medical costs from illness. These are just a few […]

How does the U.S. personal bankruptcy procedure affect small businesses? Because most small businesses are unincorporated, debts are personal liabilities of the business owner. Lending to […]

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