Washington DC and Maryland Bankruptcy eNewsletters

Maryland and Washington DC Bankruptcy Law Basics

Bankruptcy law is governed by Title 11 of the United States Code. It is meant to help those who have made financial mistakes in their lives get a fresh start in the country that is known as the “land of opportunity.” Bankruptcy laws in the United States are governed by federal, not state, rules. This is the case, despite the fact that there are bankruptcy courts in every major region of the country. State governments are not allowed to change any bankruptcy rules or make any decisions regarding bankruptcy. When an individual or business files for bankruptcy, he must go before a United States Trustee in bankruptcy court. A United States Trustee is an individual who is assigned to supervise the dispersement of funds and the reorganization of financial data for individuals and businesses in bankruptcy matters. During a bankruptcy hearing, the individual or business filing for bankruptcy protection will…
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How Bankruptcy Can Help Save Your Home from Foreclosure

For many troubled homeowners, filing bankruptcy proves the most effective tool for saving their home from foreclosure. If you are at risk of losing your home, a qualified Washington DC bankruptcy attorney can help you explore all options for dealing with a looming foreclosure and assist you in deciding whether bankruptcy is the best choice for you and your family. Filing Bankruptcy Can Halt a Foreclosure Sale Filing bankruptcy triggers what is known as an automatic stay, which bars creditors from taking collection actions such as repossession, garnishment and foreclosure. In most cases, the stay automatically remains in effect for the duration of a bankruptcy case. However, if one or more prior bankruptcy cases were pending within the previous year, the stay may be limited to 30 days or not go into effect at all. In those situations, a debtor can file a motion to extend or impose the stay….
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Can I Eliminate My Tax Debts in Bankruptcy?

You may have heard that you can get rid of tax debts in bankruptcy, but it is not as easy as it seems. You will still owe most tax debts after a Chapter 7 bankruptcy, or you will have to repay them in a Chapter 13 bankruptcy repayment plan. Talk to your Washington DC bankruptcy attorney for complete information about tax debt discharge in bankruptcy. When You Can Discharge Your Tax Debt A Chapter 7 will give you the best chance of wiping out your tax debt, but only if the tax debts meet certain conditions. A Chapter 7 filing will discharge your federal tax debts if all of the following are true: The taxes are income taxes. No one can eliminate payroll taxes or fraud penalties in a bankruptcy. You did not commit fraud or willful evasion. If you filed a fraudulent tax return or willfully attempted to evade…
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Do I Have to Pay My Deceased Spouse’s Back Taxes?

Our Bankruptcy Lawyer Offers Debt Relief Solutions in Maryland and Washington DC Tax situations can easily become confusing, but this complexity does not make the Internal Revenue Service (IRS) any less forgiving of those who fail to handle their income taxes correctly. Many people deal with enormous amounts of debt, and some may even be forced to go into bankruptcy due to IRS fines and other issues relating to incorrect tax filings. It is crucial that people dealing with potentially difficult tax situations understand how to effectively handle these issues. One such situation may occur when a recently deceased spouse owes back taxes. This can be a complicated situation, but one that individuals need to handle correctly to avoid harsher penalties in the future. Am I Responsible for Paying My Husband’s or Wife’s Taxes? Married couples can file for taxes separately or jointly. If the couple files as individuals, or…
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