Not only does filing for bankruptcy often carry with it a certain social stigma, but it is a painfully drawn out process as well. Whether an individual or family is looking to liquidate all assets through a Chapter 7 filing, or adjust their debts with a repayment plan via Chapter […]
Tag: bankruptcy
Taxes and Bankruptcy in the News
Not long ago the comedian known as Sinbad (a.k.a David Adkins) filed for bankruptcy. ABC News reports that Sinbad failed to pay state and federal taxes in the past and, as a result, was forced to seek bankruptcy protection. This will be Sinbad's second bankruptcy filing, the first one occurring […]
Your Business Is Struggling with Debt? Consider Your Options For a Fresh Start When Filing for Bankruptcy
The idea of filing bankruptcy may be scary. For many people, they may fear that taking such an action will be admitting failure, or that it will negatively affect their credit rating on a permanent basis. Neither of those fears are based in fact. In fact, bankruptcy laws were enacted to help […]
Understanding the Basics of Personal Bankruptcy
Bankruptcy is a legal process whereby a debtor obtains a "fresh start" from his or her creditors. The United States Constitution grants Congress the exclusive power to make bankruptcy laws. This means that even though most business disputes, such as breach of contract, are governed by the laws of a […]
Private Student Loan Debt: Now Forgivable in Bankruptcy Discharge
For years, bankruptcy attorneys would inform their clients that student loan debts could not be discharged. In the past, these debts were unforgivable regardless of whether a student has completed his or her degree. A new legislation has come forward in Congress that will act as an aid to previous […]