from The American Bankruptcy Institute
While many consumers struggle to make payments on their medical bills, there are doctors facing a similar struggle; except it involves keeping their businesses afloat. The American Bankruptcy Institute’s health care committee has noticed a spike in Chapter 11 bankruptcy filings by doctors with 8 being filed in recent weeks alone. Industry experts have noticed [...]
One of the most important elements debtors should review when considering bankruptcy is how personal debt is handled by the court. When you file, you are required to list outstanding debt including loans owed to friends or family. Depending on the chapter you file they are handled differently. For the most part, these types of [...]
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Payday loans, also known as a cash advance, are short-term loans borrowers obtain against their next paycheck. While they seem convenient in helping you get necessary expenses covered between pay days, many find themselves trapped in trying to break the cycle of getting it paid without the need to take it out again. Due to [...]
When bankruptcy is filed, debtors are required to list assets and personal property as part of the bankruptcy estate. While common items such as saving accounts, jewelry, homes and vehicles are included, there are assets that some may forget to mention upon filing their petition. Debtors who realize they may have forgotten to list an
A Macon, Georgia doctor was indicted earlier this month on multiple bankruptcy fraud counts. Dr. George Robert Vito, a former podiatrist who practiced in the Macon area, was indicted on 4 counts of bankruptcy fraud that included making false statements in court and falsifying documents pertaining to his filing.
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Chapter 13 bankruptcy is a repayment plan approved by the court. This can be a suitable option for debtors who want an affordable payment plan for their debt obligations based on what they earn. Yet, consumers may be under the impression that only earned wages or a form of employment is the only income that [...]
Bankruptcy can help taxpayers deal with tax debt either by eliminating qualifying debt or creating an affordable monthly payment to put toward what you owe. Each bankruptcy chapter has regulations and requirements for handling tax obligations. In some cases you can get them discharged, if they don’t qualify for elimination, having them included in a [...]
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