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    Category: Filing For Bankruptcy

    • Will My Employer Find Out If I File For Bankruptcy?

      Will My Employer Find Out If I File For Bankruptcy?

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      Understandably, there are some things from your personal life that you don’t want to talk to your employer about (e.g., money, religion, politics). However, there may come a time when you need to file for bankruptcy. When this happens, you may wonder whether your employer will know. The short answer to this question is that…

    • Step-by-step How To File For Bankruptcy

      Step-by-step How To File For Bankruptcy

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      The U.S. Bankruptcy Code is a federal statute governing filing bankruptcy. This is done to ensure that the process is similar in the nation’s 90 federal bankruptcy courts. However, local variations and the uniqueness of each case still make this only a general outline which is why you should really hire a bankruptcy attorney. Nevertheless,…

    • Common Myths Recurring Bankruptcy And Your Credit

      Common Myths Recurring Bankruptcy And Your Credit

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      Your credit score will take a major hit, plummeting over 200 points, when you file for bankruptcy. However, if you have a lot of financial debt, bankruptcy may be the best way for you to liquidate your assets, discard or pay any debts, and get some financial relief. Therefore, when considering bankruptcy, you’ll want to…

    • Popular Tax Breaks Not Being Extended

      Popular Tax Breaks Not Being Extended

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      Many changes regarding the tax code will be occurring over the next couple of years. Along with a massive end-of-year spending bill, lawmakers also modified the treatment of retirement savings. Unfortunately, they didn’t give any tax credits. Therefore, there are four tax breaks that won’t be extended. The Child Tax CreditCurrently, most parents receive a…

    • TAMPA BANKRUPTCY COURT DECISION ON DISCHARGE OF CONSTRUCTION CONTRACTOR DEBT TO CUSTOMER

      TAMPA BANKRUPTCY COURT DECISION ON DISCHARGE OF CONSTRUCTION CONTRACTOR DEBT TO CUSTOMER

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      The Bankruptcy Court in Tampa rendered an important decision on whether a contractor employed to perform construction or repair services to a customer could Discharge such debt in Bankruptcy. In the case of Hollman v Morales (In re Morales) an individual hired the debtor, a handyman, to conduct repairs on his mobile home. The customer…

    • TAMPA BANKRUPTCY COURT DECISION RELATING TO TAX REFUNDS

      TAMPA BANKRUPTCY COURT DECISION RELATING TO TAX REFUNDS

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      A Bankruptcy Judge in Tampa delivered an important decision regarding tax refunds in Bankruptcy. On July 20, 2022, Bankruptcy Judge CJ Delano rendered a decision regarding whether a debtor may retain a portion of a tax refund received in the amount of $5,500. The debtor claimed $3,750 of such refund as exempt. The debtor’s argument…

    • TAMPA BANKRUPTCY COURT IMPORTANT DECISION REGARDING DISCHARGE OF INCOME TAX DEBT

      TAMPA BANKRUPTCY COURT IMPORTANT DECISION REGARDING DISCHARGE OF INCOME TAX DEBT

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      A Bankruptcy Judge in the Tampa Bankruptcy Court delivered an important decision regarding the Discharge of Income Tax Debt in Bankruptcy on August 23, 2022. The debtor filed what is referred to as an adversary proceeding seeking to Discharge numerous hundreds of thousands of dollars in tax debts. The Internal Revenue Service responded and argued…

    • Introducing Your Chapter 13 Bankruptcy Trustee’s Role

      Introducing Your Chapter 13 Bankruptcy Trustee’s Role

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      Undergoing a Chapter 13 bankruptcy is both stressful and time-consuming. You feel as though your life is in the court’s hands as they determine your disposable income and decide upon an amount that’ll be used towards repaying your debts over the next 3 to 5 years. They’re also the ones who will determine whether you…

    • What it Means to File Bankruptcy on a Car Loan

      What it Means to File Bankruptcy on a Car Loan

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      There are a lot of people who mistakenly believe that if they file for bankruptcy, they’ll wipe out their car loan and still keep their vehicle. Unfortunately, this isn’t true. While bankruptcy unwinds your obligation to pay back your car loan, you still need to make payments if you want to keep your vehicle. Here…

    • 5 Tips When Preparing To File for Bankruptcy

      5 Tips When Preparing To File for Bankruptcy

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      Filing bankruptcy could be one of the biggest financial decisions you ever take. It can have significant implications for your finances and your personal life over the next few years and beyond. Therefore, it’s important to consider what is involved with filing bankruptcy and what you can do in order to prepare better for this…

    • The Pros And Cons Of Filing For Bankruptcy

      The Pros And Cons Of Filing For Bankruptcy

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      There are many pros and cons of filing for bankruptcy. One of the biggest cons to doing so is that when you file for either a Chapter 7 or a Chapter 13 bankruptcy, it’ll show up on your consumer credit report for anywhere up to the 10 years of your life. Another thing that you’ll…

    • Options Besides Bankruptcy

      Options Besides Bankruptcy

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      When you’re struggling with debt, filing for a Chapter 7 bankruptcy or Chapter 13 bankruptcy may be a good option. However, before doing so, you should take some time to see if there are any alternatives available because these could be your best remedy. Negotiate With Your Creditors If you either have some disposable income…