Many taxes can be discharged through bankruptcy, but only in specific circumstances: The due date for filing a tax return has to have been at least 3 years ago. Your return must have been filed at least two years ago. The tax assessment needs to be at least 240 days old. You can’t have committed [...]
Archive of posts filed under the Chapter 13 Bankruptcy category.
Do I Qualify for Chapter 13? – Memphis Chapter 13 Bankruptcy Lawyers
If you’re in over your head with debt or financial stress, you may be considering the option of bankruptcy. Chapter 13 bankruptcy is a particular kind that allows you to reorganize your debts into a reasonable payment plan based on your economic situation. It’s a great option for people who want to keep their assets [...]
Economic Improvement Around Memphis Airport? – Memphis Bankruptcy Lawyer
Ever heard of an aerotropolis? Well, if you live in Memphis you may want to get used to the term because we have one, and it could be getting a makeover. City planners and developers from all over the United States convened yesterday in Memphis to discuss possible uses for the 50 mile area surrounding [...]
Memphis Airlines and Whether Bankruptcy Is Wrong – Memphis Bankruptcy Attorneys
As Pinnacle Airlines deals with filing a Chapter 11 bankruptcy, Memphis International Airport and One Commerce Square downtown are both dealing with potential fallout. But according to Memphis Business Journal, the effects may be minimal – especially for the city of Memphis. In the Journal’s recent article on the bankruptcy, Larry Cox, president of Memphis-Shelby [...]
Why Have Bankruptcy Costs Risen? – Memphis Bankruptcy Lawyers
A recent study shows the cost of bankruptcy has increased nationwide over the last few years. Why this change, and what does it mean for you? According to the study, this change in the cost of filing bankruptcy is directly linked to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). BAPCPA, which [...]
Foreclosure and Memphis Pets in Peril
Clients who come to our office considering bankruptcy sometimes wonder what might happen to their pets. For the most part, if you declare bankruptcy your pets will be safe. Unless you have an animal that is so expensive it could be considered an asset – a racehorse, for example – no one will take your [...]
Is the Memphis Real Estate Market Up or Down?
Memphis area realtors report increased sales in the last couple of months. According to their records, January and February of 2012 brought almost a 50% increase in amount of homes sold, along with an increase in the costs of those houses. More Memphis homes selling at a higher price makes sense next to another local [...]
Is Bankruptcy Expensive? And If So, How Can I Afford It?
Bankruptcy has a reputation in some circles for being expensive, but that disadvantage is often a myth. Indeed bankruptcy fees have increased since 2005, and some people find them daunting, but the dollar amount for your particular case might not look so bad once you set up a payment plan. In addition, you always have [...]
