Why are gambling debts different than other debts? Well if you took out a marker in Las Vegas, you’d better have been in a position to pay it. A Wisconsin resident learned his lesson the hard way not so long ago. Wisconsin has a strong public policy against the enforcement of gambling debts. Nevada, on [...]
Discharge of Debt
Bankruptcy is like an obstacle course for debtors. You can’t become a debtor without first taking credit counseling from an approved not-for-profit agency. The credit counseling must be no more than 180 days prior to the bankruptcy case. Most courts want you to have taken the credit counseling at least a day before your case. [...]
When I ask a client how much credit card debt he or she has, I often get a confused look followed by: ” Do you mean just the debt I want to include in my bankruptcy?” or “Do you mean just the debt I am behind on?” or something similar. No, what I mean is [...]
The IRS and many state and local tax authorities make it very easy to pay your taxes with a credit card. You should think carefully about doing so, if you may or will be going into bankruptcy in the near future. First, it’s a good idea not to incur any more debt on credit cards [...]
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