The common theme found in many of my blogs, is that bankruptcy is not something to be ashamed of.  It is a protection here to help you when you need it.  Things happen in life that can cause great hardship, including financial ruin.  Bankruptcy is here to be an option for a potential fresh start. […]

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  Bankruptcy gives debtors, that want to honor their debts, a chance to fix their finances.  It can forgive most debt entirely and give you a clean slate.  This is known as a chapter 7. Another option allows you to forgive some debts and pay back others over a 3-5 year repayment.  This is known […]

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Many people don’t really understand what happens when they enter into bankruptcy. Entering into bankruptcy doesn’t mean you sign away all of your earthly possessions and give up everything you own. It certainly doesn’t mean you’ll never have a chance to buy a home or purchase a car. It’s actually quite the opposite. Filing for […]

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Each year during income tax season, millions of American taxpayers file 1099-C tax forms with the IRS.  A 1099-C is a form that reports Cancellation Of Debt Income, or CODI.  Anytime a lender cancels more than $600, they are to fill out one of these forms and send copies to the IRS and to the […]

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Many people decide to give up their homes when they file bankruptcy, and some are  under the impression that the court somehow takes possession of their home. What really happens when you surrender your home in bankruptcy?  The decision to give up your home through the bankruptcy process means that you are no longer intending […]

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