HEROES Act Passes

I would start with describing the HEROES Act as an opening bid in a negotiation with the Senate,  where Republicans and most Democrats are  substantially more cautious.  It is worth noting that this summary does not include the pro-bankruptcy provisions,  including the $100,000 homestead minimum regardless of state law,  the more general allowance of 84 months plans (but with a discharge still at 36 or 60 months),  etc.

What $0 Money Down Bankruptcy Can Do For You!

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Truth is, the U.S. Federal bankruptcy laws provides the world's best debt relief.

The results can be amazing.

Identity theft is a serious crime that can destroy your financial life. 

Consumer Affairs reports that between 7-10% of the U.S. population are affected by identity theft every year; 21% of those are repeat identity theft victims.

The TPD Application states that substantial gainful activity means a level of work performed for pay or profit that involves doing significant physical or mental activities, or a combination of both.  This is a rather vague and nebulous definition,  which I suspect leaves doctors without much guidance or confidence in making a certification.

Ed Boltz, partner at the Law Offices of John T. Orcutt, has been representing clients in North Carolina and in developing policy and legislation on a nation level. Attorney Boltz is a leader in the discussion on how to help borrower being crushed by the $1.5 trillion in student loans in the United States.

You can add debts to your bankruptcy in some cases

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Bankruptcy, whether you choose Chapter 7 or Chapter 13, is a great way to dig yourself out of a financial mess. But it's pretty much a one shot deal. Think of it as a garage sale for your debt – you have that one day to unload your stuff – and you can't go back and retroactively add anything to that garage sale. That's a broad idea of how debt in a bankruptcy works. All the debt you had when the bankruptcy is filed can be part of the bankruptcy and you can't go back and add any, as a rule. However, there are some exceptions.

Check this out before you file taxes or Chapter 13.

Image Source: Flickr user Chris Potter.

Yesterday, we wrote about Chapter 7 bankruptcy, taxes and your income tax refund. Today, we dig into the tax consequences of filing Chapter 13 bankruptcy in North Carolina. Chapter 13 takes much longer than Chapter 7 to complete—it’s a matter of years versus a matter of months, but is a better fit for some than liquidation bankruptcy. Here’s what you must know about Chapter 13 and income taxes.