The process of paying off your debts through Chapter 13 bankruptcy may have felt like an ordeal, but you finally see your bankruptcy coming towards an end. As you contemplate returning to a life free from debt, you must also plan to have your bankruptcy paperwork safe...
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Can Chapter 7 discharge my tax debt?
If you contemplate filing bankruptcy and owe back taxes to the IRS, you may have heard that Chapter 7 will not discharge tax debt. While generally true, Upsolve.org reports that Chapter 7 can discharge some income tax debts under some circumstances. To make your IRS...
What is the top reason for bankruptcy?
If exorbitant unpaid medical expenses have you seriously considering bankruptcy, you are not alone. CNBC reports that approximately 530,000 American families file bankruptcy every year because of medical debt. The top six reasons people give for filing bankruptcy...
What is a gray bankruptcy?
If you are age 65 or older and facing substantial credit card debt issues, you are not alone. The National Consumer Law Center reports that, nationwide, people in this age demographic have approximately four times as much credit card debt as people aged 25 and...
Should I work with a credit counselor?
If you currently have more debt than your income can support, you may feel tempted by many of the expensive debt settlement ads you come across. These professionals sometimes do fulfill their promises to reduce or eliminate your debt, but consider credit counselors...
3 basics of filing for chapter seven bankruptcy in Maryland
If you are a recently divorced single mother in Maryland struggling to handle bills and keep up with debt payments in spite of working a a full time job with decent pay, filing for bankruptcy may be an option to consider. There are three main chapters of the federal...
Understanding the advantages of Chapter 7
The majority of bankruptcies filed by individuals in the United States are Chapter 7 bankruptcies. A Chapter 7 bankruptcy is a liquidation bankruptcy. This is where the debtor will give up valuable property with the goal of paying off creditors. In order to file for a...
What happens to your retirement in bankruptcy?
If you are close to retirement but find yourself having to file for bankruptcy, a top concern will naturally be how this will impact your retirement accounts. When filing Chapter 7, the court will look to seize any non-exempt assets so that it can liquidate them and...
What are your obligations as a debtor?
Maryland residents like you may find yourself in a position where debt overwhelms you. When pushed into a corner like this, your options often feel limited. You may turn toward bankruptcy feeling like it is a last resort, but it is not. Bankruptcy is a helpful tool...
Are you being targeted by debt collector harassment?
As a resident of Maryland, you may be looking into debt relief options. Your decision-making process could get impeded or sped up due to the harassment you may be facing at the hands of debt collection agencies. Though it is illegal for debt collectors to harass you,...