Keeping All that You Own in Bankruptcy
Can you really keep everything you own if you file bankruptcy?
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Can you really keep everything you own if you file bankruptcy?
The Constitution empowered Congress to “pass uniform laws on the subject of bankruptcies,” which then took more than 100 years to do so.
Debtors’ prisons? There’s that and a lot more to the very colorful history of bankruptcy law.
A business Chapter 13 case does not have to be complicated. Here’s how it can work.
If your business needs bankruptcy relief, you have to start with basic questions about how your business was set up and its debt amount.
A Chapter 13 case is often the preferred way to keep a sole proprietorship business alive. But can a regular Chapter 7 one ever do the same?
Bankruptcy doesn’t just clean up after the failure of a business. Bankruptcy can also prevent that failure in the first place.
If you owe a few years of income taxes, Chapter 13 lets you write off those that can be, while giving you time to pay those that must be.
If you owe recent income taxes, or multiple years of taxes, Chapter 13 can provide huge advantages over Chapter 7, and over other options.
The conditions for writing off income tax debts actually make sense.
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