Generally speaking, the IRS doesn’t count loans or mortgages as income as long as they are still in repayment or have been paid off in full. This status can change if they are forgiven by the lender before you’ve fully paid them off, however. The IRS refers to this as “cancellation of debt income,” or […]
What is the next step after deciding you are done with debt collectors and ready to file bankruptcy? It is time to pick a Piqua, Ohio bankruptcy attorney. While we can agree there is no shortage, advertisements for lawyers are everywhere, how do you pick one? It is awkward and uncomfortable to ask friends and family for a referral. […]
It is not unheard of for the owner of a small business to file personal bankruptcy, but they are often concerned about the impact. Bankruptcy is a scary and emotional time. However, things can become extremely stressful at the thought of losing your business. Therefore, this article answers the question, “Can a personal bankruptcy affect your business?” […]
Bankruptcy is a scary word, indeed. When faced with overwhelming debt and considering bankruptcy, it is crucial to consult with an experienced and knowledgeable Piqua, Ohio bankruptcy attorney who can explain everything associated with filing bankruptcy: from the types (Chapter 7 versus Chapter 13) to determining eligibility to what to expect from the process itself. For most […]
When most people hear “Chapter 7 bankruptcy” they assume it is a way to rid oneself of debt. While this is mostly true, there are some debts which are not dischargeable in Chapter 7 bankruptcy. Consulting with an experienced and knowledgeable Troy, Ohio bankruptcy attorney provides the debtor a greater likelihood for a successful outcome. According to […]
For those filing Chapter 7 or Chapter 13 bankruptcy, a central element is the 341 meeting of creditors to enable the trustee—and creditors, if they choose to do so—to ask the debtor questions about the reasons for bankruptcy in a Chapter 7 case or about his or her ability to adhere to the payment plan […]
This is the season where everyone heads out to the stores and buy as much stuff as they can. If you are thinking about filing bankruptcy any time in the near future, you will be piling extra debt on top of the debt you already have. How can you possibly survive the rest of the […]