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 7 Bankruptcy category.
Do I Qualify for Chapter 7 Bankruptcy in Memphis? – Shelby County, TN Bankruptcy Law
Qualifications for bankruptcy vary state-to-state and district-to-district. Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), qualifying for Chapter 7 bankruptcy in Memphis requires you make below the average income for your district. In Shelby County and the Memphis area, courts determine this number based in part on census data, the number [...]
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 [...]
Medical Bills That No One in Memphis Can Afford
Recently the Commercial Appeal reported that law enforcement has been purposefully delaying arrests. You may ask: But why in the world would they do that? Isn’t it their job to arrest people who are caught breaking the law? The police have been holding back on arrests because of soaring health care costs. When a suspect [...]
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 [...]
