Any number of things can contribute to overwhelming debt that leads people to file for bankruptcy. Medical bills are often a factor. So are credit card bills, student loans and just the cost of living exceeding income. What if part of the reason you’re underwater is tax debt? Can tax debt be discharged in bankruptcy?
You’ve done everything you can to repay your debts — but it hasn’t worked. You’ve crunched the numbers and you don’t see how you’ll ever climb out of your debt. Just the same, you’re worried about the effect bankruptcy will have on your credit and your future, so how do you decide if it’s time