Many clients come to us under the mistaken belief that taxes may not be discharged in a Chapter 7 Bankruptcy. Though some taxes may never be discharged under Chapter 7 Bankruptcy (such as those withheld by an employer, or tax debt secured by property) income taxes may very well be discharged if three conditions are met.
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Simply considering bankruptcy as an option is a good idea, since you can properly weigh up the pro’s and con’s after speaking with an expert on the matter.
Read MoreA Chapter 7 Bankruptcy is a liquidation of non-exempt assets. It is also referred to as a “straight bankruptcy” a “total bankruptcy” or a “fresh start bankruptcy”. Chapter 7 Bankruptcy offers individuals and couples a fresh start.
Read MoreGet the Christmas gift you really wanted: Immediate Debt Relief. At The Law Office of Andrew Magdy, we can take away all that stress, decrease your worries with a simple free consultation, and help you get back on track fast with a relatively cheap bankruptcy.
Read MoreFiling for bankruptcy can be a difficult decision. We offer free consultations and guide you through every step of the process! Get in touch today.
Read MoreIf you are filing a Chapter 7 Bankruptcy and you’ve never had a home foreclosed, you can qualify for an FHA/HUD loan two years after you receive your discharge.
Read MoreSome firms have opted to guide every debtor into a Chapter 13. The good news is the client receives bankruptcy protection as soon as their case is filed. The bad news? They can end up paying $4,000.00 in attorney fees! The flat fee authorized by the Eastern District of Missouri Bankruptcy Court is $4,000.00 per Chapter 13 case. If you choose one of these bargain-price firms to handle your bankruptcy, you may end up paying four or five times as much as you would have paid for a Chapter 7.
Read MoreNearly every client, whether they are filing Chapter 7 Bankruptcy or Chapter 13 Bankruptcy, asks whether they will ever be able to get credit again. My answer is always yes, you will be able to get credit again.
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