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The cost of health care is a major problem for many people and can be a prime contributor in the decision to file personal bankruptcy. Bankruptcy can be a useful tool to reduce or eliminate tremendous medical bills. Medical Debt and Bankruptcy A 2021 Census Bureau study found nearly 1 in 5 households (20%) couldn’t […]
It’s a myth that a bankruptcy filing cannot provide relief from an individual’s income tax liabilities. In fact, a chapter 7 bankruptcy can greatly assist with income tax problems in certain limited situations. Let’s explore below how a bankruptcy can discharge (wipe out) personal income tax liabilities in the following scenarios and situations: Important Factors […]