A lot of people wrongly assume that Chapter 7 bankruptcy is somehow inherently better than Chapter 13. After all, Chapter 7 has the advantage of clearing out your unsecured debt very quickly. Chapter 13 takes longer and reorganizes your debts rather than clearing them out entirely. Sometimes clients will come to our office expecting to …
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Are you choosing between a Chapter 7 and Chapter 13 bankruptcy? Are you wondering which you should file, and whether your lawyer is making the best decision for you? Memphis bankruptcy attorney Darrell Castle discusses your options and why both Chapter 7 and Chapter 13 can be legitimate choices depending on your situation. Related PostsDefault …
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When you file bankruptcy, you have to list all of your debts. It’s actually against the law not to mention all of your assets and debts in your bankruptcy petition. But that doesn’t mean bankruptcy will automatically include all of those debts, or that you’ll lose all the assets you still owe money on. For …
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Memphis home sales have risen in 2012, and house prices have increased, according to The Commercial Appeal. Sales rose 7.4% in July compared to July 2011, with a price rise of 14.1%. While the article cited offers some exciting figures for the year so far, it also admits the numbers could be a bit deceiving. …
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Is declaring bankruptcy different from filing bankruptcy, or talking with a bankruptcy attorney? Well, for starters, declaring bankruptcy is nothing like this: It’s actually the same as beginning the bankruptcy process, which starts by filing a petition with a bankruptcy court. That petition is what protects you from creditors and sets up your estate for …
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If you’re struggling with debt, the odds are you may have some back taxes on your record, too. And if you’re considering bankruptcy, you may have heard the myth that you can’t include back taxes in your case. In fact, most income taxes over 3 years old, and most inheritance and estate taxes can all …
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It would be wonderful if all debts could be washed away somehow for people who are in over their heads. Chapter 7 bankruptcy is designed to help you get out of debt without having to pay it back, so that you can find financial relief and get a fresh start. It handles credit card debt …
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While there’s no limit to how many times you can file bankruptcy, there is a limit on how often your bankruptcy can be discharged. The rules depend on a lot of factors, so it’s best to consult one of our qualified bankruptcy attorneys if you have any questions, but here are a few things to …
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Many taxes can be discharged through bankruptcy, but only in specific circumstances: The due date for filing a tax return has to have been at least 3 years ago. Your return must have been filed at least two years ago. The tax assessment needs to be at least 240 days old. You can’t have committed …
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If you’re in over your head with debt or financial stress, you may be considering the option of bankruptcy. Chapter 13 bankruptcy is a particular kind that allows you to reorganize your debts into a reasonable payment plan based on your economic situation. It’s a great option for people who want to keep their assets …
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