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Debtors who are faced with frustrating financial obligation due to scenarios beyond their control such as a sudden task loss, a pay cut, a cut in hours, and a medical emergency, death in the household or divorce might have no other option however to apply for insolvency.
Insolvency is not always a bad thing, it has actually received a bad…Continue
Lots of people are unsure simply how crucial an insolvency lawyer is when it comes time to submit their documentation. Numerous individuals think that they can deal with the system on their own, however they learn that the process is a lot more difficult when there is no professional managing all of the work for them. When attempting to make it through all of your monetary troubles, you will want to look for legal representation to make the procedure simpler. Getting the advice and help of a…Continue
You owe taxes to the Irs (IRS). To make matters worse you discover the IRS has actually positioned a tax lien on your home with the county recorder's office. What can you do? Is the tax lien dischargeable in insolvency?
Under 11 U.S.C. A A 507 and A 523, the following taxes are dischargeable in personal bankruptcy if:
1) The return was last due a minimum of 3 years prior to the bankruptcy petition was submitted;
2) The tax claim was examined within 240 days prior to the…Continue