Debt

The debt is either a federal or a state tax debt. Other taxes, such as fraud fines and payroll taxes, are unaffected by bankruptcy. To put it another way, the obligation must be a regular tax payment payable to the state of Wisconsin or the federal government. Will filing bankruptcy stop IRS debt? During your […]

While credit card debt is a common reason for bankruptcy, you cannot file for bankruptcy solely on the basis of credit card debt since the law requires all of your debts to be disclosed in the bankruptcy forms. Because bankruptcy can wipe your credit card and other unsecured debts, it can often leave you in

Stock prices can fall for a variety of reasons, including big scandals, layoff announcements, and bad financial quarter performance. When stock prices fall, so does the total value of an investment. Stock Price Decline Example You purchased one share of Company ABC for $10, and after a week, the price had dropped to $8. This

You can’t go to jail today for not paying a “civil debt,” such as a credit card, loan, or medical bill. If you don’t pay your taxes or child support, you may be sentenced to prison. The use of prison to punish destitute criminal defendants who fail to pay court costs and fines as part

When you can’t pay your debt, most creditors go through a similar process to try to persuade you to pay. Selling your debt to a third-party collection agency is one of the tactics at their disposal. When a collection agency buys a debt in full, the debtor is normally notified by phone or in writing

You are not accountable for the majority of your spouse’s debts accrued prior to marriage if you live in a community property state. The IRS, on the other hand, states that debt incurred after the wedding is automatically shared. Even if your spouse opens a credit card in their name exclusively, you may still be

Many clients who have entered into a contract with a debt settlement company come to us looking to file bankruptcy. Many people believe that by signing up with a debt settlement firm, they will be able to get out of debt with little or no affect on their credit score. Many people believe that debt

Protections against private debtors and collectors are not included in the most recent stimulus act. If you owe money on a credit card, your stimulus payments may be garnished. It’s crucial to note that this does not imply that the check or deposit can be intercepted by your credit card company. Simply said, if you

Individual accounts might be removed from your debt management plan. To do so, contact customer service and submit a request. Removing a credit card account from a debt management program has similar repercussions to canceling it, however they may not be as severe. Credit counselors advise you to enroll all of your credit cards in

However, it is a prevalent misunderstanding that paying off debt immediately and completely improves your credit score. It’s true that paying off revolving debt, such as credit card balances, improves your credit score by lowering your credit utilization rate. Closing certain lines of credit, on the other hand, can temporarily lower your credit score. Paying