Can Tax Penalties Be Eliminated In Bankruptcy?
Yes, if the event that gave rise to the penalty occurred more than 3 years prior to the debtor filing bankruptcy. Bankruptcy code section 523(a)(7) is a remarkably powerful tool in dealing with tax debt. Even if the underlying tax debt is not dischargeable...
When Should You Use a HELOC to Get Out of Debt?
Bankruptcy isn’t right for everyone. Sometimes debtors may need to resort to their assets, such as using a HELOC, to get out of debt. Many people are too quick to dismiss bankruptcy as an option; however, there are some people for whom bankruptcy is not the best...
Can You Refinance (or Buy) a House During Chapter 13 Bankruptcy?
Chapter 13 Bankruptcies are three to five-year payment plan. Inevitably, life happens. You are in chapter 13 bankruptcy and an opportunity arises to either refinance or buy a house. Can you refinance your house or buy a house during your chapter 13 bankruptcy? The...