Tag Archives: DebtRelief

Can I File for Bankruptcy If I am Behind on My Taxes?

If you’re behind on taxes, you’re not alone. Millions of Americans incur tax debts each year. Fortunately, bankruptcy can discharge certain non-priority income tax debts. Many people turn to bankruptcy if they are swamped with tax debt, as it can get rid of eligible back tax debts. In other cases, it may allow you to pay back tax debts over a long period of time. But, if you haven’t filed your taxes, you can’t file for bankruptcy. Copies of your previous tax returns are required during the bankruptcy filing process. Just keep in mind that filing taxes isn’t the same as paying them. Not filing taxes is the only setback when filing for bankruptcy. Can Filing for Bankruptcy Clear My Tax Debts? Depending on the circumstances, filing for bankruptcy can potentially clear your tax debts. The bankruptcy court can look at several factors and criteria before deciding if you can…
Read More »

Posted in Personal Taxes | Tagged , | Comments Off on Can I File for Bankruptcy If I am Behind on My Taxes?

Six Ways to Up Your Financial Game in 2019

Millions of people in the U.S. made New Year’s resolutions at the start of the year. Financial responsibility is a popular area of concern for resolution makers, but many people struggle with the follow-through. Finances are technical and at times fragile, and without a solid plan, you are more likely to fall short of your financial goals. 6 Ways to Generally Improve Financial Responsibility The area your resolutions are concerned with will benefit from all-around good financial habits. According to a Fidelity Investments survey, 48 percent of Americans make a resolution to save more, 29 percent want to pay off debt and 15 percent wish to spend less overall. No matter your personal area of concern, here are our best suggestions to help you improve your financial affairs in 2019: Identify your financial goals. Make it a priority to identify your financial goals for the year. Do you need to…
Read More »

Posted in Personal Taxes | Tagged , | Comments Off on Six Ways to Up Your Financial Game in 2019

Wage Orders Can Help You Complete Your Bankruptcy

Chapter 13 bankruptcy allows debtors with a source of income to discharge many types of debts. In a Chapter 13 bankruptcy, your debts are consolidated into a repayment program that is paid back over three to five years. The Trustee then distributes these payments to your creditors. However, it is crucial that you make your payments to the Trustee on time to reap the advantages of a Chapter 13 bankruptcy. One way to do this is with a wage order. There are multiple benefits to a Chapter 13 bankruptcy. For instance, you could stop the foreclosure process on your home and become current on delinquent mortgage payments. You might also be able to strip a second mortgage. How Your Wage Order is Helping You Complete Your Bankruptcy With a wage order, the bankruptcy court requires your employer to submit your Chapter 13 payments from your pay check. Wage orders make Chapter…
Read More »

Posted in Bankruptcy | Tagged , | Leave a comment