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March 2017 Archives

Managing bankruptcy filing fees: Installment payments and fee waivers

In our last post, we discussed how the first budget proposal released by President Trump earlier this month contained a provision calling for bankruptcy filing fees to be increased by almost $150 million "to ensure that those that use the bankruptcy court system pay for its oversight."

What does the president's budget proposal have to say about bankruptcy?

It perhaps wouldn't come as too much of a surprise to learn that bankruptcy reform has not exactly emerged as a hot-button issue on Capitol Hill over the last few months. Indeed, both Congress and the Trump Administration have been more than occupied by debates concerning everything from immigration and health care to the longstanding Supreme Court vacancy.

What you need to know about bankruptcy fraud

While the notion of securing a fresh start via bankruptcy is undoubtedly an appealing proposition to those in dire financial straits, the process of actually getting to this point can seem more than a little intimidating. Indeed, that's because those filing for Chapter 7 will see some of their assets liquidated, while those filing for Chapter 13 will see themselves tied to a three- to five-year repayment plan.  

Understanding your tax requirements after a bankruptcy filing -- II

Last week, we began discussing how Tax Day 2017 is rapidly approaching, and how the already complicated process of completing a federal income tax can become even more so for individuals who have filed for bankruptcy given that it might be unclear as to what they are even required to file.

I'm facing foreclosure, should I consider a Short Sale?

Foreclosure is a difficult situation to face, but have you considered a short sale instead? Many people don't know the legal opportunity that short sales offer to homeowners who have fallen desperately behind on their mortgage payments. To end your strife and get started on repairing the damage, contact a debt attorney immediately to find out if a short sale is the right option for you. 

Understanding your tax requirements after a bankruptcy filing

It's hard to believe, but Tax Day 2017 is now just a little over six weeks away. This means that at some point in the near future people will need to sit down with either their accountant or their favorite tax preparation software to initiate the sometimes arduous process of completing their return.

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