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Question: What is the difference between a Chapter 7 bankruptcy and a Chapter...

When you elect to file for Chapter 7 Relief, you seek to have most if not all of your debts eliminated or discharged. However, in order to receive the discharge, you must be prepared to allow a...

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Q&A: Small Business and Tax Liability

I am a small business owner who is thinking about closing down my business but my company still owes the IRS and the State of Kentucky for some unpaid payroll taxes and sales taxes. As the owner of the...

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Question: If a foreclosure action has already been filed in state court, can...

Yes. The filing of a Chapter 13 bankruptcy can stop the foreclosure action even if a judgment has already been entered against you and the sale of your home has been scheduled so long as the Master...

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Will I Lose My Tax Refund by Filing Chapter 7 Bankruptcy?

April 15 is quickly approaching and many Americans are filing their income tax returns.  A common question at this time of year is, “Will I lose my income tax refund if I file Chapter 7 bankruptcy?”...

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How Chapter 7 Affects Sole Proprietors

Most businesses are legal entities separate from the individual owners. Microsoft, for instance, is not the same as Bill Gates. Corporations, LLCs and the like are recognized as operating independent...

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Chapter 7 Credit Card Debt

The Bankruptcy Code forgives many honest financial mistakes. However, it also provides creditor remedies for debts that may be less than honest. The Bankruptcy Code allows a creditor to object to the...

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How Often Can I File Bankruptcy?

The federal bankruptcy laws do not limit the number of times an individual can file for bankruptcy protection. When an individual is facing overwhelming debt and needs relief from creditors, the...

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Transportation During Chapter 7 Bankruptcy

Transportation During Chapter 7 Bankruptcy For most people, having reliable transportation is a necessity. A vehicle is required to get to work, school, or to an appointment at the doctor. Most of us...

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Chapter 7 Bankruptcy Timeline

The most common type of bankruptcy case is the Chapter 7 no asset case. In this case the debtor does not lose any property and unsecured creditors (e.g. credit card companies and medical bills) receive...

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