You might be startled at the interest the bankruptcy courts show in your tax filing status. Your income, the taxes you might owe, and other aspects of your tax situation play a role in your bankruptcy in several ways. Read on to learn more. Chapter 7 and Tax Return Status In most cases, the bankruptcy trustee will want to see a copy of your most recent tax return. If you have not yet filed your taxes, be ready with an explanation as to why not.…
Read More »When you faced a tight financial situation, a payday loan seemed like a lifesaver. However, while the loan might have offered you an immediate relief, the loan likely left you in an even worse financial situation. With the excessively high interest rates and strict payment guidelines, it’s no surprise. If your payday loan concerns have spiraled out of control and you are facing financial catastrophe — bankruptcy might be an option.…
Read More »Chapter 7 bankruptcy refers to a specific type of personal bankruptcy. A type of bankruptcy where your debts are discharged, and you are given a fresh start. This bankruptcy is not for everybody, and you may not qualify for one. Your annual income will need to be below the median income for your state. But the following are a few signs that you are heading in that direction of a Chapter 7 bankruptcy.…
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