Articles Posted in Chapter 7

You took out an SBA loan to save your business. Maybe it worked for a while, maybe it didn’t. Either way, you’re sitting on a debt that feels impossible to repay, and you’re wondering whether bankruptcy is a way out. So can you discharge an SBA loan in bankruptcy? Understanding how to manage an sba…

You can discharge your non-qualified student loans in bankruptcy. Most student loans are “qualified” student loans and cannot be discharged in bankruptcy. But not so for non-qualified student loans. What are non-qualified student loans? Student loans are generally excepted from the bankruptcy discharge in 11 U.S.C. 523(a)(8). That section of the Bankruptcy Code prevents discharge…

Americans differ in many ways, but debt is something so many of us have in common. What we use to compensate is another thing so many of us also have in common: credit. If you feel caught up in an inescapable debt cycle, know this: Bankruptcy is the least expensive way to get rid of debt.…

So you got that little something you wanted and you ate too many sweets. And maybe you were a bit too generous this year. But now Christmas is over. You saw the ball the drop, and it’s a entirely new year. The holidays are over, now get rid of your debt. Make becoming debt-free your…

Effective November 1, 2018 new Chapter 7 means test numbers take effect. Year-over-year means test numbers for household incomes in the D.C. area increased between 3 percent and 21 percent across the board. When the means test numbers increase, more people qualify for Chapter 7 bankruptcy.ç What is the Chapter 7 means test? Chapter 7…

How long does bankruptcy take? That depends on whether you file a Chapter 7, Chapter 13, or Chapter 11. Chapter 7 bankruptcy How long your Chapter 7 bankruptcy will take depends upon whether you have assets to distribute. Most Chapter 7 cases are completed quite quickly. But if you have unexempt assets, your Chapter 7…

On Friday, the Internal Revenue Service (IRS) sent a gentle reminder to the nearly 40 million taxpayers who have yet to file their tax returns: do it now. Many people consider their tax refunds to be a sort of annual bonus. Here are the top 6 reasons why the IRS may keep your tax refund.…

The only type of risk-free lending in the United States is student lending. Student loans cannot be discharged in bankruptcy and can even survive your death. No other type of lender in America is afforded the same protections as student loan lenders. Student loans are not dischargeable in bankruptcy Lots of different types of debts…

If you are due a tax refund and file bankruptcy, you must take proactive steps to protect it. Asset protection is a big part of what bankruptcy lawyers do. If you want to protect your tax refund in bankruptcy, talk to an experienced bankruptcy lawyer. An income tax refund received after a bankruptcy is filed…

Don’t send good money after bad. Have you heard the phrase? It means spending even more money on an investment with the hope of recouping your original investment. Most of our clients feel their credit card purchases to be investments. From clothing and food and appliances to rental cars and educational expenses, most people use plastic…