Steven J. Richardson | July 26, 2010
Many clients come to me after having been sued by one or more of their creditors, and they are concerned that it is too late to do anything about that particular debt. I would have to say, though, that in the vast majority of cases, a debtor can still wipe out that debt. However, the [...]
Steven J. Richardson | July 6, 2010
It is not unusual for people getting divorced to be in financial straits; many times that is the basis for the fights that led to the “irreconcilable differences” that led to the divorce in the first place! In addition, filing bankruptcy as part of a divorce strategy can also make it much easier to resolve [...]
Steven J. Richardson | June 29, 2010
One question I am often asked is whether people can get out from under an onerous tax burden by filing bankruptcy, either in a chapter 7 or a chapter 13. Trust fund penalties aside for unremitted payroll tax deductions, it is possible to discharge (wipe out) income taxes under certain circumstances. However, those circumstances are [...]
Steven J. Richardson | June 14, 2010
Student loans, although not automatically nondischargeable (i.e. not wiped out in bankruptcy), have been notoriously difficult to get rid of. This is because, in order to succeed, a debtor must show “undue hardship.” But with everyone in bankruptcy suffering from financial hardship, what does this really mean? I discussed this issue in a post a [...]