Bankruptcy – the Short and Sweet Definition According to the federal laws of these United States, bankruptcy is simply this: “…a legal process designed to help individuals and businesses either eliminate their debts or repay them…” Take note of the word “help” because that’s exactly what bankruptcy is meant to do. Bankruptcy is a legal […]
Chapter 13 Bankruptcy
Taxes and Bankruptcy
IRS Back Taxes and Bankruptcy – Yes, They Might Be Dischargeable! Most people believe that any IRS tax debt can never be discharged in a bankruptcy – but like many terrifying myths that surround bankruptcy – this isn’t always true either. Back in 1966, there was an addition to the Bankruptcy Code that allowed some […]