Is Income Tax Debt Dischargeable in Bankruptcy?
Income tax debt is, under some circumstances, dischargeable in Chapter 7 bankruptcy. Even outside of those circumstances, it is at least “treatable” in a Chapter 13 bankruptcy in a manner that can be a much better deal for the taxpayer than any of the payment schemes offered by the IRS. Income tax debt, whether Federal [...]
Ninth Circuit Declines to Rehear Case That Creates Circuit Split on Car Loans in Bankruptcy – In re Penrod
Our Claremont consumer bankruptcy attorneys were interested to read a passionate dissent in a bankruptcy case that splits the Ninth Circuit from some of its sister circuits. In In re Marlene Penrod, the Ninth U.S. Circuit Court of Appeals voted against a full en banc rehearing of its previous three-judge decision on the way debtor [...]
Debt APR calculator – Know your debt and pay it back with ease
When you have a lot of debt that you need to pay off and are planning to go for debt consolidation and reduce the interest rate on your outstanding balances, or you are planning to take out a new loan and would like to know the cost that you would incur on it, you can [...]
Political Hostage
Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. Oscar Ameringer Bankruptcy is a political creature in its origin. The right to create bankruptcy laws is written in the United States Constitution. Congress over time has made use of [...]
Improper Ownership Of Life Insurance Policy Is Windfall For Creditors.
I saw another example of how sloppy financial and estate planning causes problems in bankruptcy. In this instance, a man took out a $100,000 life insurance policy on his own life. The man died at a time when he and his wife had substantial amounts of credit card debt. The wife wanted to file bankruptcy. [...]