Filing Bankruptcy While Unemployed The last few years have been economically challenging to say the least. Jobs were lost, stimulus payments have stopped, and savings have dwindled leaving many individuals to rely on credit cards to make ends meet. After a period of unemployment, many come to realize that a bankruptcy may be needed to
Bankruptcy
File Bankruptcy to Stop a Wage Garnishment
Wage Garnishment Formally known as an Earnings Withholding Order, or EWO for short, a wage garnishment can seriously affect a debtor’s ability to maintain a minimal standard of living sufficient to pay for necessities like food and housing. That is because a wage garnishment typically takes a 25% chunk out of a debtor’s paycheck. Fortunately,
Does Bankruptcy Clear Tax Debt in California
Does Bankruptcy Clear Tax Debt Individuals and businesses facing financial peril want to know, does bankruptcy clear tax debt in California? Those considering bankruptcy are typically dealing with severe financial stress which resulted from distinct types of debt and financial burdens. Will filing for bankruptcy put you back on the right financial track? Is Bankruptcy
How to Get Rid of Tax Debt Without Filing for Bankruptcy
Get Rid of Tax Debt A common question asked by those who fall behind on taxes is, “How to get rid of tax debt without filing for bankruptcy?” Our legal professionals at RJS LAW help answer this question often and this blog post will discuss some of the different programs and approaches used to help
How Common Is Bankruptcy?
Is Bankruptcy Common How common is bankruptcy? Bankruptcy filings are more common than you might think. A recent study looked at thousands of filings over a 6-year period and found some interesting bankruptcy filing patterns. Here is what the research found. How Many People Have Filed for Bankruptcy? From 2013 until 2019 approximately 1 in
Bankruptcy and Student Loans
Are Student Loans Dischargeable in Bankruptcy? For many years conventional wisdom has been that student loans are not eligible for discharge in bankruptcy filings. However, as we learn more about bankruptcy and student loans, we have found recent court rulings which may be opening the door for some borrowers to wipe out their student loan
Before Filing, Maximize Asset Protection through Exemption Planning with a Bankruptcy Attorney
Exemption Planning with a Bankruptcy Attorney In most bankruptcy cases, debtor’s assets are NOT liquidated. Such cases are referred to as “no asset” cases because from a creditor’s perspective, none of the debtor’s assets are liquidated for the benefit of creditors. As a bankruptcy attorney, it is a priority to provide debtor clients with strategies
Bankruptcy and Taxes
Bankruptcy and Taxes As a tax attorney, I am often asked if taxes can be discharged in bankruptcy. The answer to that question is . . . sometimes. Even when bankruptcy is available for a tax debt, bankruptcy may not be the best option for a person with a tax debt. Some tax debts are
Pros and Cons of Filing for Bankruptcy
Pros and Cons of Filing for Bankruptcy When you are researching whether or not you should file for bankruptcy, you are inundated with confusing information and jargon you are likely unfamiliar with. To help you with this process, we have compiled and condensed some information you should know about the differences between Chapter 7 and
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy Chapter 13 bankruptcy refers to the portion of the U.S. Code 11 that involves bankruptcies. When filing bankruptcy under Chapter 13, an individual debtor is declaring that they are insolvent. However, they have the ability to pay their creditors some portion of the debt owed to them. Most Chapter 13 filers also
