If you're not running a sole proprietorship, lawsuits against your business aren't automatically “stayed” by your personal bankruptcy filing. In most instances, a bankruptcy filing, through the power of the automatic stay, halts any lawsuit against you and your business or prevents a threatened lawsuit from being filed in court. But there are a few…
Chapter 13 is the go-to bankruptcy for taxpayers who owe IRS debts that cannot be discharged in chapter 7. But before you file that petition, you should know: All priority debts must be paid in full. They cannot be reduced or discharged in bankruptcy. Not sure if your debt gets priority status? Read our article Tax…
The US Bankruptcy Code is designed to protect both debtors and creditors. The court will not allow you to pick and choose which debts are worthy of repaying and which are not.
Bankruptcy cannot be used to discharge past due child support, alimony payments or any other form of spousal support. However, there is one way bankruptcy can help you catch up your child support and alimony payments.