This Man Got $221,000 Of Student Loans Discharged In Bankruptcy

From: cnbc.com
By: Sarah O'Brien
 https://www.cnbc.com/2020/01/07/bankruptcy-would-be-easier-option-for-consumers-under-warren-plan.html

Visit our new website at: https://sites.google.com/site/jshenwick/home

Why student loan debt is ballooning for those 50 and upFrom: USAToday.comBy: Susan Tompor  Detroit Free Presshttps://www.usatoday.com/story/money/2019/12/29/retirees-student-loans-debt/2769065001/

Student Loans & Bankruptcy – Interview with Diane Drain and Bobby Zavala

Broken Promises: Bankruptcy is advertised as the solution to financial problems.
Bad, lazy or greedy attorneys fail to warn clients about the problems they could face in bankruptcy.

This final piece of
Wynn at Law, LLC’s short Estate Planning series looks at how you can
express your wishes when you’re still alive but might not be able to
communicate. Injuries and illnesses are facts of aging. Our first
article in the series mentioned that fewer than one in three
Americans have a Living Will. Even fewer have a Power of Attorney.

This final piece of
Wynn at Law, LLC’s short Estate Planning series looks at how you can
express your wishes when you’re still alive but might not be able to
communicate. Injuries and illnesses are facts of aging. Our first
article in the series mentioned that fewer than one in three
Americans have a Living Will. Even fewer have a Power of Attorney.

Many clients have contacted us regarding the discharge of taxes in bankruptcy,
offers in compromise and installment agreements with IRS and recently  penalties
assessed by IRS.

The IRS offers 3 types of penalty relief:

1. Reasonable Cause-this appears to be our best chance  to abate penalties
2. Administrative Waiver and First Time Penalty Abatement
3. Statutory Exception for example a taxpayer  got bad advice from IRS