If you have filed for bankruptcy or been awarded a discharge recently, you may need to look differently at how you file your taxes. Generally speaking, there are no major tax problems that you will face after you file for bankruptcy, but there is some important information to keep in mind when tax season rolls around. How You File Your Taxes When you file for bankruptcy, you are assigned a Read More
Whether you’re deep in debt or struggling to stay up with bills, there’s a solution to your financial situation. The Cleveland Bankruptcy attorneys have the knowledge and experience to fight for your best interest. Contact a Cleveland Bankruptcy attorney today to discuss your options at (216) 586-6600.
Canton Woman Improves Her Personal Finances With A Deed In Lieu Of Foreclosure
A woman in her 30’s, who worked for the Canton school system recently found herself in a very familiar situation for many Americans. Essentially, she realized that her personal finances were suffering because she had more house than she could realistically afford. All of her funds went to paying for a home she purchased with none left over for other necessities. This created a vicious cycle of mounting monthly debt Read More
Ruling on Law School Grad’s Debt May Signal Shift in Loan Practices
A Brooklyn bankruptcy judge may have set a new precedent in her ruling of a recent case. Judge Carla E. Craig ruled that a law school graduate was allowed to discharge the unpaid portion of a loan she received from Citibank when she was studying for the bar exam. Lesley Campbell attended Pace University Law School in 2009 and, as preparation for her bar school exam, took out a “bar Read More
Bankruptcy Spares Akron Woman from $116,000 in Business Loan Debt
Recently, an Akron woman came to Cleveland Bankruptcy Attorneys when her small business ran into serious financial problems. The business thrived for some time, but like many proprietors she fell into a pitfall when profits declined by using her personal credit cards to cover costs and made several personal guarantees for the loans she took out to keep her business afloat. This essentially made her responsible for approximately $116,000, and Read More
Bankruptcy in Retirement
Your decision to retire comes after you have spent a large amount of your life working and have been able to save enough money to cover your living expenses for the remainder of your life. Unfortunately, this is not always the case; retirees often live on a fixed income, so while their monthly financial allotment stays the same, the cost of food, gas, and other expenses continues to rise every Read More
Taxes after Filing for Bankruptcy
It’s tax season, which means if you’ve filed for bankruptcy recently or you have already been awarded your discharge, you need to be aware of the differences in how you will file your taxes. When you file for bankruptcy, you are assigned a bankruptcy trustee who handles your affairs and your debt is moved into an estate. Whether you have filed for a Chapter 13 or a Chapter 7 bankruptcy, Read More
How to Get Out of Debt When You Have No Money
When your best efforts aren’t producing results, it may be time to seek assistance from someone who can examine your debt and help you find a way out of it. A bankruptcy attorney is just such a person to offer practical help. But why hire an attorney? They cost money, and you’re already broke. Isn’t hiring an Ohio bankruptcy attorney just adding another unpayable bill to the pile? Finding yourself Read More
Student Loan Debt Forgiven For Collection Attempts After Bankruptcy
Today, a considerable financial thorn in peoples’ sides can be their student loan debt, which is usually very difficult to discharge through a bankruptcy unless an individual can show these payments are causing an undue financial hardship. Even if it is determined your student loan debt constitutes a hardship, the loan company may still try to collect. If a company engages in these practices, this would constitute a violation of Read More
Bankruptcy and Tax Problems
If you are deeply in debt, chances are you’re thinking about filing for bankruptcy and how it might help relieve your different debts. One aspect of debt that remains questionable for many is tax debt, and whether or not it can be discharged in a bankruptcy. If you owe money for past tax debts, you might be able to get these amounts discharged in bankruptcy; it will depend on what Read More
Getting Credit after Bankruptcy
It’s no surprise that filing for bankruptcy will affect your credit score. After your bankruptcy discharge is awarded, you may see a drop of as much as 200 points in your score. Additionally, your bankruptcy will remain on your credit report for a number of years; Chapter 7 bankruptcies remain on credit reports for ten years and Chapter 13 bankruptcies remain for seven years. Although bankruptcy will lower your credit Read More