Bankruptcy often means big life changes, including your living situation. You may need to downsize your home or apartment to match your new financial situation. Unfortunately, this is often easier said than done. Most landlords will take a look at a potential tenant’s...
Civil lawsuits are used in a civil court to resolve a dispute regarding a private matter, typically seeking compensation for damages or a court order to rectify a situation, rather than criminal punishment. A civil judgement (or “judgment” in American courts) is the...
Chapter 13 bankruptcy is a reorganization of debts, allowing you to repay all or some of your debts over time through a repayment plan. It is often considered preferable to the alternative, chapter 7 bankruptcy, as it allows you to keep all of your assets and avoid...
When debt is cancelled, such as by a credit card company or bank, that is not the end of the story. A canceled debt is actually considered income and, under the treasury regulations, must be claimed as taxable income. This is where form 1099-C comes into play. What...
alIn today’s world, your average person is likely to take out multiple loans in order to live a comfortable life. Cars, houses, and other big-ticket items are just too expensive for most people to pay for out of pocket. Oftentimes, when a loan is taken out, collateral...
