How often can you file bankruptcy? The simplest answer to this question is you can receive a discharge, in chapter 7, every eight years. The eight year time-frame starts to run from the date that the previous case was filed. It is important to remember that you can...
When Should You File Bankruptcy and How Much Debt is Needed?
This is a question that comes up a lot with clients and the short answer is there is not a magic number or the perfect time. Our clients need to file bankruptcy for many reasons. For some clients, it can be: loss of income, divorce or separation, foreclosure, ...
What Happens When You Declare Bankruptcy?
A common question that we get asked all of the time is “What happens when you declare bankruptcy?” When a person or spouse files for bankruptcy, the first thing that happens is a notice goes out to all of the creditors. The notice notifies the creditors that the...
How Long Does Bankruptcy Stay on Your Credit Report?
A chapter 7 bankruptcy will stay on your credit report for 10 years and a chapter 13 bankruptcy will stay on your credit report for 7 years. Even though bankruptcy can stay on your report for up to 10 years, the effects on your credit can and will diminish over...
What is Chapter 7, Chapter 11 and Chapter 13 bankruptcy and what is the difference between them?
Chapter 7 bankruptcy is generally what people think of when they hear bankruptcy. In Chapter 7 a debtor is able to discharge their unsecured debts without having to make payments on their debts. Unsecured debts are medical bills, credit cards, personal loans, and...
Can I Sell My House With a Tax Lien? Who Gets to Claim the Child on Taxes With 50/50 Custody?
To finish our FAQ series, we will cover questions that overlap with the firm’s other areas of practice. Can I sell my house with a tax lien? Who gets to claim the child on taxes with 50/50 custody Can I Sell My House With A Tax Lien? There are a few options for...
3 Common Tax Terms And Procedures Explained
Continuing our FAQ series, we wanted to review some common terms and procedures. How do you file for a tax extension? How do I know what tax bracket I am in? What is a tax credit? How do you file for a tax extension? To have a tax extension, you must file Form 4868....
Do You Have to Pay Taxes on Social Security? Is Unemployment Income Taxed?
To continue our series from last week, we wanted to cover a few questions that covered tax liability on alternative sources of income: Do you have to pay taxes on social security? Is unemployment income taxed? Do you have to pay taxes on social security?...
What is the Penalty for Filing Taxes Late? What Happens if You Don’t File Your Taxes?
As we get ready to help our clients through their 2020 taxes, we wanted to take the next few weeks to review questions that we receive on a regular basis. To show the importance of accurate, timely filing, we chose the 2 following questions for this week: What...
How is Child Support Calculated in Pennsylvania?
In Pennsylvania, Child Support is calculated by taking the net incomes of each party and putting it into the child support calculator. Child support guidelines used by Pennsylvania family law courts can be found in the Pennsylvania Rules of Civil Procedure, Rules...
