by Laura Parsons | Mar 21, 2025 | Bankruptcy
Chapter 13 bankruptcy is a reorganization plan for individuals wherein you pay some debts and discharge others over 5 years through a bankruptcy plan. It is designed for people who have assets they cannot exempt, people who owe taxes that cannot be discharged in a...
by wpusername9811 | Mar 7, 2025 | Bankruptcy
A Chapter 7 bankruptcy allows you to discharge most unsecured debts – credit cards, personal loan, lines of credit, medical bills, collections, personal guarantees on business debts, liability for pending lawsuits (breaches of contract), and most IRS & Franchise...
by wpusername9811 | Feb 3, 2025 | Bankruptcy
If you filed for bankruptcy and had debts discharged, you might be surprised (and a little panicked) to receive a Form 1099-C, Cancellation of Debt from a creditor in January or February. Many people worry that this means they now owe taxes on the forgiven debt. The...
