Whether you should file bankruptcy is a important question, but here are some of the warning signs that you should consider. First, remember that there are no minimum debt amounts required to file a case. There are maximum debt limits in Chapter 13 cases, but I don’t often find folks in those situations. Here are some of the warning signs … Read More
It’s possible to immediately stop an IRS bank levy or wage garnishment with a bankruptcy filing. In fact, the IRS would be forced by the Bankruptcy Court to withdraw any existing enforcement action, and the IRS would be required to wait for the Bankruptcy Court to rule on the case. The key to stopping a wage garnishment or IRS levy … Read More
My video will explain the requirements for discharging (wiping out) IRS income taxes with a bankruptcy filing.
A recent client just called me today about her efforts to get a new mortgage after her bankruptcy discharge was granted. She and her husband had about $35,000 in credit card debt that they wiped out with a Chapter 7 bankruptcy filing. They filed their case in April 2011 and their case was approved, and they received their discharge … Read More
Last week, I wrote about the bi-monthly cattle call of Pittsburgh bankruptcy lawyers in Judge Bohm’s courtroom for “Reaffirmation Day”. One commenter from my blog post last week mentioned that I hadn’t talked about vehicle redemption as an alternative to reaffirmation. Simply put, redemption in a Chapter 7 case is a legal strategy to reduce the overall balance on your … Read More