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Special Taxes and Bankruptcy Rules

In seeking debt relief, many think taxes and bankruptcy are tied together. We’ve shared the four technical requirements to discharge old back taxes in Bankruptcy. And, we’ve touched on whether penalties assessed on unpaid back taxes are dischargeable in Bankruptcy. It’s imperative to caution our readers of some of special rules and issues that can tie […]

Consumer Guide to Credit Reports Part 7

In this series, we’ve covered: what a credit report is used for, why it should be periodically reviewed, how to review it, how to deal with fraudulent transactions or accounts, how to calculate debt-to-credit ratios, the two types of credit inquires. Last up is how to handle credit delinquencies/collections and rebuilding credit after bankruptcy. Delinquencies […]

Taxes and Bankruptcy & How They Mix

It’s not completely true that the only things you have to do in life is die and pay taxes. Well, I guess the dying part is sort of inevitable. My bankruptcy clients ask if they can get rid of taxes as part of their bankruptcy filing. Income Taxes and Bankruptcy. Are they Dischargeable? You may be […]

Consumer Guide to Credit Reports – Part 6

Now that you’re becoming an expert at reviewing your credit report, here is some key information about public records section and the difference between hard and soft inquiries. Public Records The public records section chronicles major financial events such as judgments, foreclosures, lawsuits, wage garnishments, state and federal tax liens, past-due child support, and bankruptcy. Anything […]

Consumer Guide to Credit Report – Part 5

Bet you didn’t know there was so much to talk about when it comes to credit reports! This time we’ll explain debt-to-credit ratios and what it says about your financial situation. A debt-to-credit ratio is the numerical calculation of what you owe compared to available credit.  As a rule of thumb, credit bureaus like Equifax give […]

How To Order Free Credit Report

Americans can request as many as three free credit reports per year from each of the major agencies (also known as bureaus): Equifax, TransUnion, and Experian. They are not automatically delivered to you.  Rather, you’ll need to request your reports in one of the following three ways: Visit which is the only authorized source for consumers to access […]

Consumer Guide to Credit Reports Part 4

We’re continuing the conversation about how review your credit report, specifically Account Status and Unknown or Fraudulent Accounts. Account Status: Active vs. Closed It is not uncommon for consumers to mistakenly believe that they have closed an account. In actuality, it remains open and continues to accrue fees, interest, penalties, charges, etc. Accounts that are […]

Consumer Guide to Credit Reports – Part 3

Welcome to part 3 of our consumer guide where we’ll explain how to review your credit report.  We know that reading a report for the first time is akin to learning a new language. It’s not for the untrained eye or faint of heart. Attorneys familiar with analyzing a credit report know how to: Identify the […]

Consumer Guide to Credit Reports – Part 2

Last time we talked about how credit reports are used. It’s logical to discuss why it’s important to periodically review your credit report. Here are three important reasons why you should pull a credit report at least once a year. Knowledge is Power American consumers have the right under Federal Law to request and pull […]

Consumer Guide to Credit Reports – Part 1

While free and easy to acquire, many Americans still fail to request credit reports each year. Consumers can pull up to three free credit reports per year – one from each of the three major credit reporting agencies. Creditors analyze credit reports to determine whether to extend credit and on what terms to prospective consumers. […]