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Verdicts and Settlements in Bankruptcy Proceedings

Can a Personal Injury Award Be Used to Satisfy Creditors? When you can't work due to an injury caused by someone else's carelessness, you quickly can have significant problems meeting your financial obligations. In fact, it's a frequent cause of personal bankruptcy filings. If you qualify for Chapter 7, you can permanently discharge some ofyour … [Read more...]

How Chapter 13 Can Help When You Owe Back Taxes

Reorganizing Tax Arrearages through Bankruptcy If you have significant tax debt and you've considered bankruptcy as a way to get a fresh start, you've probably learned that tax obligations are extremely difficult, if not impossible, to discharge in a Chapter 7 petition. You can, however, include tax debt in a Chapter 13 filing. That can allow you … [Read more...]

Keeping a Vehicle in a Chapter 7 Bankruptcy Filing

Reaffirming a Car Payment during or after a Chapter 7 Petition As a general rule, in Chapter 7 bankruptcy filings, you can permanently discharge certain debts in exchange for relinquishing unprotected assets to the bankruptcy court. You can always protect any property you want to keep by "reaffirming the debt." When you do that, though, you remain … [Read more...]