NEW IRS OFFER IN COMPROMISE RULES A WAY TO DEAL WITH NONDISCHARGEABLE TAXES In general, income taxes can be discharged in bankruptcy as long as more than three years have passed since the original due date of the return plus extensions, and the return signed and filed by the taxpayer has been on file for at least 2 years. Bankruptcy … Read More
Bankruptcy and Marriage or Divorce: Do We Both Have to File?
Do Both Husband and Wife Have to File? Even if you are married, your are not obligated by federal bankruptcy laws to file a joint case with your spouse. Married people can file a joint case, two separate cases, or one spouse can file for bankruptcy alone. However, if a husband and wife are both responsible for a debt and … Read More
Can Bankruptcy Help Me Get My Driver’s License Back?
A driver’s license may be suspended if accidents or fines are not paid for. It can also be suspended because of damages from unintentional accidents and accidents caused by drunk drivers. Accidents caused by drunk drivers are usually not dischargeable in Chapter 7 bankruptcy, but other damages usually are. If your drivers license was suspended for failure to pay damages resulting … Read More
Basic Oklahoma Bankruptcy Advice
You can only file a Chapter 7 every 8 years plus 1 day from the previous filing. There are some time limits and restrictions on refiling a bankruptcy after a previous bankruptcy has been dismissed. If you are going to reaffirm and keep property with a mortgage or lien on it, unless we tell you otherwise, you must continue to … Read More
Can I Eliminate Tax Debt Through Bankruptcy?
Our tax website has more information on this topic, but here are some basics you’ll want to know if you do have tax debt. The basic rule is that income tax debt over three years old can usually be discharged in a Chapter 7. You can also use the bankruptcy laws to force the IRS or the Oklahoma Tax Commission … Read More
Court Appearances: Do I Have to Go To Court?
Everyone who files for bankruptcy has to attend a brief, informal meeting held in a hearing room, called the Meeting of Creditors. More information on this meeting is below. Before the meeting takes place, we will have told you all standard questions asked by the trustee. Our Attorney will attend this meeting with you. Meetings are run by the bankruptcy … Read More
General Federal Bankruptcy Information Sheet
BANKRUPTCY LAW IS A FEDERAL LAW. THIS SHEET GIVES YOU SOME GENERAL INFORMATION ABOUT WHAT HAPPENS IN A BANKRUPTCY CASE. THE INFORMATION HERE IS NOT COMPLETE. WHEN YOU FILE BANKRUPTCY: You can choose the kind of bankruptcy that best meets your needs: Chapter 7 – A trustee is appointed to take over your non-exempt property. Any non-exempt property of value will be sold or … Read More
Will I Lose My Home or Property If I File Bankruptcy?
Just because you have filed bankruptcy does not mean that you lose your assets or possessions. The purpose of bankruptcy law is to give you a fresh start. In order to do that, there are exemption laws which allow you to protect and keep certain assets. In over 95% of the bankruptcies handled by Legacy Law Center, our clients do not … Read More