What debts can’t be discharged in bankruptcy?

It’s incredible how quickly debt can accumulate. It starts as a manageable monthly expense but can soon snowball into an overwhelming avalanche of bills. Even though you may be reluctant, filing for bankruptcy may be your only option. However, it’s first important to know which debts can’t be discharged in bankruptcy. Student loans In most

3 things to know about automatic stay in bankruptcy

Filing for bankruptcy can be a daunting and emotionally taxing process. It also provides a critical tool for those seeking relief from overwhelming debt — the automatic stay. The automatic stay is a fundamental aspect of bankruptcy law that pauses most creditors’ actions against you. Every bankruptcy filer should understand three key aspects of automatic stay.

Who creates a filer’s repayment plan during Chapter 13 bankruptcy?

Some people call Chapter 13 bankruptcies “wage earner plans.” This form of bankruptcy gets this name from the fact that a filer is required to make multiple years of structured payments to the courts to reduce what they owe their creditors. The repayment plan model reduces risks of small errors or oversights in company records

What constitutes debt collector harassment/abuse?

Most creditors work with debt collection agencies/individuals (debt collectors) to collect customers’ debts. Debt collectors are required by law to observe fair practices. They should not harass, oppress or abuse you. This guide discusses what constitutes debt collector harassment or abuse: Repetitive phone calls A debt collector can call to remind you to pay your debt

Can bankruptcy help me clear my back taxes?

Regardless of the reason for owing back taxes, failing to pay can lead to accrued interest, making it even harder to settle. Without a means to pay, taxpayers could lose a portion of their wages or assets through liens. Those drowning in tax debt might see bankruptcy as a beacon of hope. Understanding bankruptcy Bankruptcy

Skip to content