Christine A. Wilton Law Blog

Generally,
taxes are treated the same as other debts in a chapter 7 bankruptcy case.  Taxes
may be treated as secured, unsecured, or non-priority unsecured, or some
combination.  IRS Code, found in 26 U.S.C. 6321, states that the
government is secured if it has recorded a notice of lien.  Taxes that
have been recorded as a  lien are a priority and must be paid in
bankruptcy and cannot be... Read More

Nowadays it seems everyone from big business to
celebrities is filing for bankruptcy.  While major corporations are
getting government bailouts with our tax dollars, wouldn't it seem fair if we
could get a bailout too? 

Sure, you can
file for bankruptcy and have many of your debts cleared off your books through
a bankruptcy discharge.  But, how do you know if you need to file for
bankruptcy?  At what... Read More