Are Bankruptcy Payments Tax Deductible?

are bankruptcy payments tax deductible

Understandably, many bankruptcy filers want to know what their potential tax consequences will be after they file. Bankruptcy can be the fresh start that people need to reclaim their financial independence, but are bankruptcy payments tax deductible? And what are the other tax implications that filers should be aware of? Speaking with a qualified Philadelphia […]

Top 10 Reasons to Consider a Bankruptcy in Philadelphia

Top 10 Reasons to Consider a Bankruptcy in Philadelphia

Filing bankruptcy in Philadelphia has many benefits and can help people in debt get back on track financially. There are numerous benefits of filing a Chapter 7 or Chapter 13 Bankruptcy in Pennsylvania and New Jersey, and below is a small sample of the common advantages associated with a Consumer Bankruptcy filing. 1. The Automatic […]

Can You Buy a House or Car After Bankruptcy?

can you buy a house after bankruptcy

The short answer is YES you can!! Since Chapter 7 is a relatively short process and is usually concluded within four months after filing, large purchases such as a vehicle or home do not come up often. However, it should be noted that the purchase of a car or house is possible whether during a […]

Top 3 Questions Regarding IRS Taxes and Bankruptcy

questions regarding irs taxes and bankruptcy (1)

In addition to common debts such as mortgages, credit cards, personal loans, medical bills, and real estate taxes, our office frequently assists individuals and married couples with IRS debt in Pennsylvania and New Jersey. Below are the three most common questions we field relating to IRS debt: 1. After I File for Bankruptcy, Can I […]

Will a second COVID-19 stimulus check affect a bankruptcy case?

guy empty wallet

For many individuals, filing for bankruptcy has been the only hope they have for regaining their financial footing and keeping their homes. For those who have filed or are going to fill for bankruptcy, questions about the way that COVID-19 stimulus checks may affect the process weigh heavily on their minds.

The Second Wave: Are Homes In Jeopardy Of Foreclosure?

couple doing bills

If we see a return of the pandemic, it is highly likely that thousands of homeowners will lose their homes in the wake of the second wave. Rather than giving up or doing nothing, now is the time for you to take action!

Can bankruptcy save the American economy?

virus and graphs

While bankruptcy tends to be a consumer’s last thought as an answer to their debt problems, some studies are now showing that debt relief programs may actually be the saving grace of our nation’s economy.

Can Creditors Take Your Stimulus Check?

money being handed

Many of the nation’s most in-need families are likely to be in for a sad surprise when they realize that their check is far less than they had expected.