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Favorite Tax Provision Expired: Avoiding Taxes on Cancelled Mortgage Debt
If your debt to someone else has been canceled or forgiven, the canceled amount may be taxable. Generally, to the extent that a loan from a lender is not fully satisfied and a lender cancels the unsatisfied debt, you have cancellation of indebtedness income. The Mortgage Debt Relief Act of 2007 generally allows to exclude…
Read MoreThe TOP 5 Pros and Cons of Filing for Bankruptcy
To file or not to file, that is the question… The decision of whether or not to file for Bankruptcy depends heavily on your personal situation. For some, filing for Bankruptcy can be just the helping hand they need to get out of the hole and get their financial life on track. For others, Bankruptcy…
Read More5 Things to Always Avoid When Getting Ready To File
There’s a lot to pay attention to if you’re getting ready to file for Bankruptcy. Ultimately, you want to make sure that you’re doing everything by the book so as to avoid any and all risks you may be taking. Filing for Bankruptcy is designed to give you a fresh start, so the last thing…
Read More5 Steps to Take After Declaring Bankruptcy
About 1 million Americans filed for bankruptcy in 2013. If you were one of them, you’ve likely heard that bankruptcy will stay on your credit reports for 10 years. You might be assuming your life is over — at least financially — for the next decade, but you’d be wrong. Bankruptcy does do major damage to your credit scores,…
Read MoreThe Ultimate Guide to Financial Recovery: 7 Keys about Chapter 7 Bankruptcy
In today’s fast-paced world, managing financial decisions can be a daunting challenge. The temptation of credit cards can lead to overwhelming debt, and the burden of high-interest rates and monthly minimum payments can make it difficult to plan. Let’s explore Chapter 7 bankruptcy as a lifeline for those drowning in high-interest credit card debt and…
Read MoreChapter 13 Bankruptcy: Your Home’s Lifeline
In this Q&A blog post, we will delve into the intricacies of Chapter 13 bankruptcy and how it can be a lifeline for homeowners seeking to save their homes from foreclosure. We will also emphasize the pivotal role played by Integrity Law Group in guiding individuals through this challenging process. Q1: What is Chapter 13…
Read MoreSafeguarding Your Home with Chapter 13 Bankruptcy: Integrity Law Group
Financial difficulties can strike anyone at any time, leaving many homeowners worried about losing their most valuable asset – their home. In such challenging times, Chapter 13 bankruptcy can be a lifeline, offering a structured path to repay debts while retaining your home. However, successfully navigating Chapter 13 bankruptcy requires expert guidance and legal counsel.…
Read MoreEscaping the High-Interest Rate Trap with Chapter 7
In today’s fast-paced world, managing finances can be a challenging endeavor, often leading to overwhelming debt, especially when the allure of credit cards tempts us. The weight of a high-interest rate and relentless monthly minimum payments can stifle financial well-being, making it arduous to save for the future or contemplate retirement. Let’s delve into the…
Read MoreSafeguarding Your Home from Foreclosure: Chapter 13 Bankruptcy
The prospect of losing one’s home to foreclosure is a distressing situation that can turn lives upside down. For homeowners facing this challenging circumstance in Washington State, Chapter 13 bankruptcy emerges as a potential lifeline, offering a chance to save their homes while reorganizing their debts. Navigating the complex legal terrain of bankruptcy, however, requires…
Read MoreChapter 7 Bankruptcy: The Road to Financial Recovery:
In today’s fast-paced world, managing finances can be challenging, and the temptation of using credit cards can sometimes lead to overwhelming debt. The burden of high-interest rates and monthly minimum payments can suffocate your financial well-being, making it difficult to save for the future or plan for retirement. Let’s explore the benefits of Chapter 7…
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