Many debtors incorrectly view bankruptcy as a magic button – press it and all their debts go away. Although bankruptcy can be a powerful tool when appropriately used, not all debts are dischargeable in a bankruptcy. For more information on what types of debts are not dischargeable, click here. If a debtor files bankruptcy because […]
Non-Dischargeable Debt
The person who defrauded me is filing bankruptcy. What do I do?
Oftentimes bankruptcy proceedings involve a debtor (the individual who owes money) who has fraudulently borrowed money prior to filing bankruptcy but is attempting to scrub that debt off. If a borrower can prove that the debtor fraudulently borrowed the money, a court may not allow the debtor to discharge that debt through bankruptcy. The particular 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 […]
Help! I’m Being Sued in Bankruptcy Court.
In a Bankruptcy, some debts are non-dischargeable. This means that even though all of the other debts are no longer owed (discharged), the non-dischargeable debts are still owed even after the Bankruptcy is concluded. A complete list of the types of debt are found in the Bankruptcy Code Section 523. These debts are general thing […]