Thank you both for taking care of us and taking the time!! D.K.

This story, Federal Aid Has So Far Averted Personal Bankruptcies, but Trouble Looms

Once federal benefits dry up, highly indebted consumers could be forced to file.

originally appeared in the New York Times on July 17, 2020 at

https://www.nytimes.com/2020/07/17/business/personal-bankruptcies-corona...

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A reader of our blog asked a very good question regarding guarantees and our post regarding the use of bankruptcy to terminate commercial leases. Our response is below.

IRS Means Never Having to Say….Anything The IRS is not like most creditors. (Your probably knew that.)  The IRS in bankruptcy is not like most creditors in bankruptcy, either. Knowing what debts have been cleared (discharged) by your bankruptcy is easy for most debts. For credit cards, loans (including payday loans, who want you to […]

IRS Means Never Having to Say….Anything The IRS is not like most creditors. (Your probably knew that.)  The IRS in bankruptcy is not like most creditors in bankruptcy, either. Knowing what debts have been cleared (discharged) by your bankruptcy is easy for most debts. For credit cards, loans (including payday loans, who want you to […]

This story Cancel Student Loans In Bankruptcy? You May Not Qualify  Forbes July 16, 2020 originally appeared
https://www.forbes.com/sites/zackfriedman/2020/07/16/student-loans-bankr...
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Cancel Student Loans In Bankruptcy? You May Not Qualify
Zack Friedman

Can you discharge your student loans in bankruptcy? A new proposal says yes, but not everyone qualifies.

Here’s what you need to know.

This post appeared in the New York Times on 7/17/20

https://www.nytimes.com/2020/07/17/business/dealbook/bankruptcy-filings-...

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The Eye of the Bankruptcy Storm

Deciding on whether or not you should file for bankruptcy is a tough call. Some may even tell you to declare bankruptcy only as a last resort. But before giving in to the stigma, consider all possible angles in approaching your financial issues. 

Bankruptcy exemptions help debtors keep some of their property from being seized by the court. In Texas, you may file for exemptions in your homestead, personal property, personal accounts, or vehicles. If you are married, additional exemptions apply.