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Keeping Assets in a Chapter 7: Understanding Bankruptcy Exemptions
Bankruptcy Exemptions are the laws that allow you to keep assets in a Chapter 7 Bankruptcy The most common type of bankruptcy is a Chapter 7 bankruptcy, aka a liquidation bankruptcy. The process usually takes approximately three to four months for a standard case....
Top 18 Dos and Don’ts for Bankruptcy
Having financial problems? Think bankruptcy may be an option for you? To help ensure you keep your options open and available, understand there are things you should or shouldn’t do. In many cases, if you take certain action, such as transferring a house into the name...
Breaking Up is Hard to Do: A Guide on Bankruptcy and Divorce
Bankruptcy and Divorce We get many people in our office post-divorce. Going from a two-income household to a one-income household is never easy; one person now pays bills previously split between two individuals. Sometimes, you may have been a house supported by one...
Till Death Do Us Part: Guide on Tax Debt in Marriage and Divorce
Guide on Tax Debt in Marriage and Divorce Being married comes with the allure of additional tax benefits. With the passage of the new tax bill at the end of 2017, married couples who file a joint return can take advantage of a $24,000 standard deduction. This can help...
Tax Penalties: Filing on time helps avoid extra costs
Tax Penalties The deadline to file your federal income tax return is fast approaching. Normally falling on April 15, this year it is on April 17 due to the fact that April 15 is on a Sunday and April 16 is Emancipation Day in Washington D.C., which gives everyone...
Can I Keep My Car in Bankruptcy?
Can I keep my car in bankruptcy? One of the most common questions potential clients ask us is if they can keep a car in bankruptcy. During a Chapter 13, there is rarely an issue with a car. The question really comes up in a Chapter 7, since the court is looking at all...