Ever dream of dictating realistic repayment terms to the IRS for your back taxes? Welcome to Chapter 13. Even better, under bankruptcy law, you may have to pay far less to the taxing authorities than you owe. Chapter 13 is a reorganization plan for an individual with regular income. The Chapter 13 plan must provide [...]
February 2010
If you can put your hands on a little money – maybe from your friends, family or relatives – maybe from otherwise exempt funds – you may have an opportunity to pay off your car loan at a big discount and keep your car. The way to do this is called redemption. The idea of [...]
Don’t wait until you are ready to retire to consider filing for bankruptcy. You should look into your options while you still have time to prepare for your future.
No, the FDIC is NOT paying OneWest a bonus if they avoid loan modification. Despite the allegations of a recently circulated internet video, the FDIC agreement with OneWest Bank does not provide a financial incentive to encourage short sale rather than the modification of delinquent home loans. In fact, OneWest Bank is contractually required to [...]
Your car is one of your most important possessions. You want to keep it when you file a bankruptcy case. Most people have some sort of a car loan. Automobile finance companies are very interested in your bankruptcy case. Most times in bankruptcy, they want to repossess your car right away. Maybe you’ve been behind [...]
When a business fails, the owners often find that they are left with considerable debt and have to file bankruptcy. If it was a sole proprietorship or a partnership, the owners are personally liable for all of the debts. If a corporation or limited liability company was formed, that might protect the owners from liability. [...]
