Category Archives: Bankruptcy Help

Don’t pay “special” creditors before filing bankruptcy

One of the worst ways to hurt one of your creditors is by being nice to him, her, or it.

How long does bankruptcy take?

People often ask how long the entire bankruptcy process will take. Most people just want to get their bankruptcy over with so that they can move on with their lives, free of their burdensome, bad debts.
But what many people don’t realize is that so much of the timeline depends on them – how long it […]

Writing Off Income Taxes Forever through Bankruptcy

What income taxes can a Chapter 7 bankruptcy completely write off?

Taxes and bankruptcy – debunking a myth

No wonder people think “bankruptcy can’t help me with my tax debt.”

“Automatic” Protection from Your Creditors

Many bankruptcy attorney ads say: “Stop garnishments.” “Stop foreclosures.” “Stop repossessions.” So bankruptcy stops all those bad things. But is it as good as it sounds? How does it really work?

THE Goal of Bankruptcy: Discharge of Your Debts

Most–but not all–debts are written off, or “discharged,” in a bankruptcy case. Is there a simple way to know what will and what will not be discharged?

Are student loans dischargeable in bankruptcy? 2 case studies

In the past, I have mentioned the difficulty of getting student loans discharged in bankruptcy.  But I have yet to discuss why it is so difficult to get a bankruptcy court to discharge student loans.  In this post, I’ll examine the process through a recent case from Maryland where student loans were actually discharged in […]

Can you keep all of your stuff in bankruptcy?

You want to know: “Can I really keep everything I own if I file bankruptcy?”

An old debt isn’t on my credit report – do I still owe it?

What does it mean when an old debt is not on your credit report? So, you just checked your credit report and you couldn’t find an old debt you know that you owed. Or, a debt collector just contacted you about an old student loan they say you still owe, but you checked your credit […]

Bankruptcy helps avoid tax due on forgiven debt

When could you have to pay taxes on money that you owe? When someone, like a credit card company, forgives the amount that you owe. The IRS calls this “canceled debt” or “forgiveness of debt income” and it’s something that you need to watch out for if you owe money that you aren’t paying back.
According […]