Understanding Non-Dischargeable Debts In Bankruptcy
Filing for bankruptcy is a significant decision, offering a fresh financial start for many struggling with insurmountable debt. While the bankruptcy process can discharge (eliminate) many debts, it's crucial to understand that not all obligations are wiped clean. Here are some types of debts typically non-dischargeable in bankruptcy. 1. Student Loans Perhaps one of the most well-known categories of non-dischargeable debt, student loans are notoriously difficult to discharge. Unless you can prove that repaying the loan would cause an "
How Bankruptcy Stop Wage Garnishment
When a creditor takes you to court for a debt you owe, the court might approve a wage garnishment. This comes through a court judgment, and your employer must follow it. As a result, your paychecks reflect the garnishment until you pay off the debt or remove the garnishment. Unfortunately, this might make it hard to pay your other bills. After all, your checks will be lower than usual. Did you know you can use various strategies to stop wage garnishment?
3 Completely Legal Ways To Stop A Tax Garnishment
The IRS (Internal Revenue Service) has the ability to garnish your paycheck in order to collect on any tax debt you owe. A tax garnishment can cause serious financial complications. Discovering that you have a tax garnishment can be frightening, but there are some things that you can do to put a stop to this type of garnishment. Consider one of the following completely legal solutions for resolving a tax garnishment in the future.
How To Keep Bankruptcy As Painless As Possible
Anyone thinking about bankruptcy is likely also facing a good deal of financial and emotional pain. While a bankruptcy lawyer can't guarantee the process will be painless, they can recommend a few things to reduce the potential challenges. A bankruptcy attorney will often tell a client to do these three things to minimize the difficulties of the process. Thoroughly Identify Creditors Parties seeking collection of outstanding debts often inflict the most pain for folks who are considering bankruptcy.
Will Filing For Bankruptcy When You're Young Ruin Your Financial Future?
Bankruptcy is for anyone that has gotten into a financial situation that they are unable to get out of. These types of situations, unfortunately, can occur at any age, even if you're mature and have worked for decades, and it can happen to those that are young as well. Filing for bankruptcy is nothing to be ashamed of, although if you are on the younger side, you may be wondering if filing at such a young age will ruin your financial future.
