So what if you need to file bankruptcy but you have a loan or credit card that has been co-signed with someone else? The most common circumstance this occurs is when a husband and wife decide only one of them actually needs to file bankruptcy but they are both on several of the loans together. … Read more
A person who is incarcerated can, in fact, file for bankruptcy. However, there are some extra steps that will have to be taken. Since a person who is in prison obviously cannot leave, they must file a power of attorney so that a friend or family member can meet with the bankruptcy lawyer who is … Read more
You may be considering filing bankruptcy because one of your creditors has obtained a judgment against you. Most people are uncertain of the consequences that a judgment can have. Usually, if you do not own any real property (house or land) or if you do not have any equity in your property, it can be … Read more
There are numerous reasons a bankruptcy case may be dismissed. A dismissal of a bankruptcy case is when the federal judge issues an order terminating a case. Usually the debts are not eliminated if the case is dismissed. In contrast, a “discharge” means the debts have been eliminated. Listed below are the most common reasons … Read more
Most employers’ employees are covered by workers’ compensation insurance. This workers’ compensation insurance is provided by a third party insurance company, not the employer themselves. Insurance companies are required by the state to keep a reserve of money on hand to cover the cost to pay out benefits to the injured worker. Therefore, if your … Read more
This is one of the potential pitfalls of debt consolidation that many consumers are unaware of until they receive a Form 1099-C from a creditor come tax time. When debts are consolidated and/or forgiven the creditor must report it to the Internal Revenue Service (IRS) as a business loss if the amount is more than … Read more
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