The biggest difference between Chapter 7 and Chapter 13 bankruptcy is you repay debts in Chapter 13 through a payment plan. This fact may lead some people to believe that makes Chapter 13 a better option. According to U.S. News and World Report, since both are still...
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What do you know about offers in compromise for tax debt?
You want to dig yourself out from under a mountain of tax debt, but maybe you do not know all your options. What if you could settle your debt for less than the full amount owed? The IRS explains how an offer in compromise works. Paying your full tax debt does not...
How does bankruptcy affect tax debt?
Under many circumstances, it is not possible to discharge tax debt during bankruptcy. For example, most chapter 7 filings require payment of tax debt first, making them a priority among other types of debt. Despite these standards, it is sometimes possible to...
How can you treat your credit card after bankruptcy?
Falling into debt often serves as one of the most difficult points of your life, and getting back out of it can take a lot of time and effort. Needless to say, once you get back out of it, you want to do everything in your power to keep from falling back. Some areas...
Understanding Chapter 13 bankruptcy
If you have large amounts of debt that you are struggling to pay, you probably are wondering what your options are. You may be considering bankruptcy but do not want to lose all of your assets. One option is Chapter 13 bankruptcy. To file, you must meet certain...
What do you know about recovering financially from bankruptcy?
It took some time for you to become comfortable filing for bankruptcy, but you took the step. Have you made plans to make the most of your decision? U.S. News & World Report offers suggestions for rebuilding your financial household after filing for bankruptcy....
3 tips for dealing with emotional stress during bankruptcy
If you are in debt, you know the kind of stress and anxiety it can cause. If you have thought about filing for bankruptcy, you are one of many ready to take charge of your finances and move forward. According to the United States Courts, in 2020, bankruptcy filings in...
Bankruptcy exemptions in Maryland
Filing for bankruptcy is not something that anyone wants to do, but circumstances sometimes dictate that it is necessary. Some people think that it means losing everything to discharge debts, but there are some things that are exempt. Here are a few of the more common...
What does debt collector misrepresentation look like?
Debt collectors must follow certain laws that protect those in debt from harassment. In addition, they cannot misrepresent themselves, either. This helps people like you stay safe. But what does misrepresentation mean in this case? How do you know if a debt collector...
3 questions to ask yourself when you think about bankruptcy
Whether you are a single parent with children in college or a retiree with rising medical bills, keeping debts paid may be challenging. Have you thought about bankruptcy? Do you know if or when you should file? Here are a few reasons to help you decide if now is the...
