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THE BANKRUPTCY BLOG : LATEST ENTRIES
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In many cases, a debtor is still liable for tax debt after bankruptcy. There are some circumstances that can allow tax discharge to take place. Income tax debts may be eligible for discharge under Chapter 7 and Chapter 13 of the Bankruptcy Code. Filling for bankruptcy is one of the five ways a person can get out tax debt, but there are some requirements that you need to meet for discharging your taxes. Chapter 7 provides the full discharge of allowable debt while Chapter 13 provides the payment plan that will be used to repay the remainder of the debts discharged.
LAWSUITS & JUDGEMENTS
STUDENT LOAN ISSUES
While student loans can assist you achieve a degree and increase your overall success, they can also be crippling to your finances. High monthly payments, particularly for new graduates still looking for work, can become challenging almost instantaneously. The fact is, a examination of recent graduates revealed that a fourth had gone lengths of time without paying their loans.
At any time you are the subject of a wage garnishment (also called wage attachment) and can not afford fundamental living expenses, you may have the ability to lower the total of wage garnishment or get rid of it entirely. Potential options include filing a claim of exemption, filing for bankruptcy, or vacating the judgment. Read on to understand better about these options.
Rebuilding credit subsequent to bankruptcy is a frequent necessary task among people who file for bankruptcy. People wish to be able to actually start new and give their credit ranking a boost. There are several techniques one could use to restore credit. It is critical to have a look your overall credit score monthly and seeing what's listed. It is common to find mistakes on the credit report. Thus, the individual must careful analyze the report and make the necessary reports to the agencies requesting clarification and removal should there be a mistake. A obvious and easy suggestion is to just start paying bills in a timely manner. Such things as mobile devices and auto payments are commonly reported to credit reporting agencies.
The Means Test: a Definition