ARE INCOME TAXES DISCHARGED IN BANKRUPTCY?
Often bankruptcy clients believe they will be stuck with their income tax debt after filing bankruptcy. That is not always the case. You may discharge income taxes in bankruptcy. However,…
STUDENT LOAN UPDATES
There have been three, recent developments with student loan relief in the last couple of weeks. These developments relate to the Student Loan Debt Cancellation announced a couple months ago,…
WHAT HAPPENS TO MY CAR IN BANKRUPTCY – PART 2
We previously addressed what happens to your vehicle in bankruptcy from the liquidation perspective – is there unprotected equity? This time we will discuss your bankruptcy options regarding your auto…
Discharging Income Taxes in Chapter 7 Bankruptcy
Income taxes are discharged in a Chapter 7 Bankruptcy unless excepted from the discharge under 11 U.S.C. Section 523(a)(1). There are a number of requirements in Section 523 which may…