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bankruptcy myths

Myths About Bankruptcy

By sinukip | August 17, 2018

 ” Bankruptcy-Only the Deadbeats file for bankruptcy.” False, nothing is further from the truth.  There are some filers who will blatantly try to defraud their creditors by abusing the bankruptcy system. However, they account for a very small percentage of all filings.  The majority of people file for bankruptcy after a major, life-altering event. These …

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Can you File Bankruptcy more than one time

How Long do I have to Wait to File Bankruptcy Again? Can I File Bankruptcy Twice?

By sinukip | August 17, 2018

HOW LONG DO I HAVE TO WAIT TO FILE BANKRUPTCY AGAIN? CAN YOU FILE BANKRUPTCY MORE THAN ONE TIME? The hard facts about how many times someone can file bankruptcy. Can you file bankruptcy more than one time? How Often Can You File Bankruptcy? If you’ve filed for bankruptcy before and received a discharge, then…

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you owe more on your car than it is worth?

Do you owe more on your car than it is worth? If so….

By sinukip | July 24, 2018

Do you owe more money on your car than it is worth? You may be able to use a Chapter 13 bankruptcy “cramdown” to reduce the balance and interest rate on your car loan. What Is a Car Loan Cramdown? As soon as you drive your car off of the lot, it depreciates very quickly,…

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IRS Tax Debt

Can I Discharge IRS and State Tax Debt in Bankruptcy

By sinukip | July 24, 2018

A common question I get is whether one can discharge IRS and State income tax debt in bankruptcy. Simply put, Debtors must meet ALL of the following criteria to discharge taxes in a CHAPTER 7 Bankruptcy: 1. Income taxes are at least three years old from the date they were due (e.g., 2010 taxes came…

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