Taxes were due prior to filing. They are discharged right?The answer is, it depends. Taxes and their dischargeability depend on the type of taxes, what tax year they are form, when they were filed, when they were assessed and whether they are now secured by any real estate.We will discuss the most typical type of taxes that Debtors want to discharge. That is state and/or federal income taxes. In order to taxes to be discharged they must meet the following criteria:

My car got repossessed. There is nothing I can do to get is back right?Wrong, depending on when you take action. You an often contact your creditor, make the payment to become current and they will return the vehicle. However, you probably do not have the money to become current or you would have paid it before it was repossessed. So now what?You can file a Chapter 13 bankruptcy, again depending on when you take action. If you contact our office prior to the car being repossessed we may be able to prevent repossession which will save you on repossession and storage fees.

By Mary Ann Pekara
The city of Detroit, Michigan filed for Chapter 9 bankruptcy protection in July and is now waiting until late October for a trial.
While there has been much controversy over the situation in Detroit, one thing is for certain, the people of Detroit have a lot to say about it.

FriendFinder Networks, owner of adult entertainment website and the popular magazine publication Penthouse, has filed for Chapter 11 bankruptcy.  The company has been struggling to pull in new revenue in recent years, while having problems paying back outstanding loans and other debts.  In August, the company was delisted from NASDAQ when their stock trade fell [...]

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for September 19, 2013 Detroit Residents to Voice Pension Fears to Bankruptcy Judge Rapper Young Buck Fresh Out Of Bankruptcy Devonshire PGA Files Bankruptcy With Restructuring Plan  

Some debtors may get confused about the aspect of listing all debts when you file your petition.  You are required by the bankruptcy court to submit all details in relation to outstanding debts, including creditors that are owed and their outstanding balances.  But, what happens when more than one collection agency gets a hold of [...]

  In our previous post we discussed the bankruptcy petition, the Schedule A listing of real estate/property and the Schedule B listing of personal property. In this post we will discuss property exemptions (Schedule C). Under federal and state bankruptcy laws, there are categories and amounts of property that are exempt from the bankruptcy process.

A recent revision to Oregon’s mediation requirements has set off an anvalanche of requests for face-to-face meetings between lenders and borrowers with delinquent mortgages. This recent amendment to the Oregon Legislature’s Foreclosure Avoidance Mediation Program requires all lenders to meet with distressed homeowners before foreclosing on delinquent mortgages. This change has recently resulted in 500 new requests for mediation.

Tony Sutton, 46, former chairman of the Minnesota GOP has filed for Chapter 7 bankruptcy protection.  Along with his wife Bridget, the couple claims to have outstanding liabilities totaling over $2 million.

Sometimes what begins as a Chapter 13 bankruptcy ends up as a Chapter 7. Here are some reasons why.
You go into bankruptcy with a clear sense of what you want to accomplish. Whether it’s to handle a mortgage problem, taxes, or simply because you’ve got the ability to repay some of your debts, Chapter 13 can be a big win.