Eliminating A Federal Tax Lien After Discharging Tax Debt In Bankruptcy

23 April 2015
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If you owe federal income taxes, you can eliminate the arrearages, as well as the interest and penalties, by filing chapter 7 bankruptcy. As long as the debt meets the minimum requirements, it will be wiped out when you receive your discharge from the court. Unfortunately, any liens the federal government placed on your property prior to your filing bankruptcy will remain. However, there are three things you can do that may help you get rid of the lien on your property. Read More

Chapter 7 Bankruptcy And Adoption

30 March 2015
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Many adults looking to adopt a child are worried about their application. While the adoption application process is extremely thorough and can be very demanding on applicants, the process is designed to ensure children are only given to homes that can support them. As such, many applicants are worried about the effect that previous (or current) bankrupt status can have on their application. Understanding the Effect of Bankruptcy Filing for bankruptcy can bring a lot of stress and anxiety; however, it isn't the catastrophe it once was. Read More

Retired And Just Getting By? Grow Healthy, Wealthy, And Wise With Chapter 13 Bankruptcy

25 March 2015
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Are you retired? Are you tapping your wallet dry every month trying to pay the bills? Are you growing concerned that you won't make it through your golden years without going completely broke? If so, Chapter 13 bankruptcy may be the key to turning your retirement around. Cheers To Your Health Stress creates real physiological changes in your body. When you're lying in bed at night crunching numbers and worrying about payment due dates, your body begins to release adrenaline and cortisol. Read More

Renting After Bankruptcy: Five Surprising Things You Need To Know

12 March 2015
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Having a bankruptcy on your credit report can make it hard to get loans or even rent apartments, but a bankruptcy doesn't necessarily preclude you from either of these activities. If you are thinking about declaring bankruptcy and wondering how it may affect your ability to rent a new place, here are five surprising things you may want to know: 1. Many people buy homes after bankruptcy so renting is definitely possible Read More

The Effect Of Chapter 7 Bankruptcy On A Reverse Mortgage

5 March 2015
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A reverse mortgage is a fairly new financial product marketed to seniors looking for a way to supplement their incomes. Unfortunately, sometimes people with these types of loans get into financial binds that result in them filing for bankruptcy. Although the loan pays money to the debtor (rather than the debtor paying on the loan), this type of mortgage is still considered a debt and is treated like other secured debts you may have. Read More

Addressing Credit Cards, Secured Loans, Student Loans and Other Debts

About Me

Hi, my name is Fiona, and over the years, I have juggled many different types of debt. At one point, it got so overwhelming that I began to research bankruptcy. Through that process, I learned that you have to take a different approach to each different type of debt. I also learned that it can be extremely hard to tell if bankruptcy is the right decision for you. This blog explores various debt reduction strategies, and it talks about how to tell when bankruptcy is the right choice. I also hope to discuss bankruptcy in general so that you can learn how it works. If you are in debt, pull up a chair. I hope that you can learn from my research, experience and mistakes. Thanks for reading!