bankruptcy blog

When most individuals are at the end of their rope with their financial situation they may have no other alternative but to think about going bankrupt. While many different types of debt can lead them into having to make this decision, often one of the major ones is their tax debt. What they may not  … Read more

Two of the major concerns that an individual has when going bankrupt is what is going to happen to all of the debt, and what is going to happen to all of the assets? Which bankruptcy you file for will determine the answers to both of these major questions, and the outcome will be much  … Read more

One thing that you can count on is that your tax refund is going to be something of interest to your bankruptcy trustee. Each state has their own specific rulings when it comes to asset exemptions, and usually its cash that falls into this category. Naturally you don’t get your tax refund by way of  … Read more

No one should ever enter into bankruptcy proceedings without a full understanding of what it entails. There are some that think that under a Chapter 7 Bankruptcy that all of their debt will be totally wiped away and none of their assets will be at risk. The first step is to seek out the advice  … Read more

Usually when an individual wants to go bankrupt the other positive aspect is that they are able to look forward to a totally fresh financial start. Most people are embarrassed by having to take this type of action, but in many cases the debt is so overwhelming there is just no other solution. Starting New  … Read more

Creditors can be pretty ruthless when it comes to collecting the money that is owed to them. Although they have regulations that they must follow in order to collect, they don’t always stick to the rules. One thing for sure is most of them are insistent on collecting what is owed to them, and they  … Read more

Once you have made the decision that you want to go bankrupt, chances are you already feel as if a weight has been lifted off your shoulders. What has to be realized though, is that this possible financial solution to your heavy debt load may not wipe out all of your debt entirely, and you  … Read more

Often individuals believe that insolvency and bankruptcy are one and the same thing. Yet they are different. An individual can be in a situation where they are in cash flow insolvency. This means they are in a situation where they don’t have enough cash to be able to pay their debts on this. Broke vs  … Read more