Chapter 13 âadjustment of debtsâ has a special way of helping with your support obligation. How about Chapter 7?
If you lost money through garnishment during the 90 days BEFORE filing bankruptcy, that money may be returned to you or a favored creditor.
Financial wisdom says you should set aside money for 3-to-6 months of living expenses. You can do this even before filing bankruptcy.
You don’t necessarily need Chapter 13 to protect an exposed asset. The bankruptcy trustee in Chapter 7 is usually willing to do a deal.
When you file a Chapter 7 bankruptcy, most of the time you can keep whatever you own. These 10 bullet points will help you make sense of this.
If you’re filing a “straight bankruptcy” case, how do you keep your income tax refund?
Give gladly to your Chapter 7 trustee assets that you don’t need, if most of the proceeds of sale of those assets are going to pay your taxes.
Two fun topics: taxes and bankruptcy! Seriously, they can be a very good combination.
Give the bankruptcy trustee the headache of dealing with your final business assets
Closing down a failing business can be a lot smoother with a Chapter 7 case.
If you expect to owe 2012 income taxes, and you file bankruptcy after December 31, that tax can be “included” in your case.
If your business has failed or is about to, it does NOT likely need a bankruptcy. But YOU personally might.