Blogs
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December 14, 2016 by Mark Atchley
Some not-so-clear amendments to the bankruptcy code in 2005 have opened the door to widely varying interpretations, resulting in different courts around the country issuing different opinions about whether income tax debt on a late-filed tax return can ever be discharged in Chapter 7 bankruptcy. The IRS says that in order for a tax...
August 19, 2016 by Mark Atchley
It is true—certain taxes can be discharged in Chapter 7 bankruptcy. The bankruptcy code allows some individual income tax debt to be wiped out forever if a few requirements are met. I talk about this on this YouTube video. 3 Year Rule First, the tax return must have last come due at least 3 years before...
May 1, 2016 by Mark Atchley
Set a Budget How many times have you gone shopping for a gift not knowing exactly what you wanted to buy? Next thing you know you’re checking out with a $50 something-or-other that you’re not super excited about but purchased because you didn’t want to be too cheap but also because you figured at that...
April 1, 2016 by Mark Atchley
If you’re behind in paying your bills, or a creditor’s records mistakenly make it appear that you are, a debt collector may be contacting you. The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the Fair Debt Collection Practices Act (FDCPA), which prohibits debt collectors from using abusive, unfair, or deceptive practices to...
March 12, 2016 by Mark Atchley
WASHINGTON—The White House is weighing steps to make it easier for Americans to expunge certain student loans through bankruptcy, opening the door for student debt made by private lenders to be treated on par with credit-card debt and mortgages...