Submitted by Anonymous (not verified) on Fri, 06/14/2013 - 20:10
When an individual files for Chapter 7 Bankruptcy one of the most important aspects of the case are the exemptions used to protect the individual’s property. This is because a Chapter 7 Bankruptcy is actually a liquidation of assets. The court appoints a Trustee to review your case and determine if you own any assets that are unprotected by
Submitted by Anonymous (not verified) on Fri, 05/03/2013 - 22:47
Many individuals are unaware that when a creditor forgives a debt that the individual owes, the forgiven debt is considered income for purposes of their tax returns. The IRS and the State of Michigan both tax the forgiven debt, often creating large liabilities on the part of the tax payer.
Submitted by Anonymous (not verified) on Thu, 04/25/2013 - 23:07
When an individual files for bankruptcy protection they are required by law to disclose all of their assets and all of their liabilities. What exactly does that mean?