settlement

Can't We All Just Even Give Up?

02/24/12

Bankruptcy Judge Wallace of theCentral District of California (Riverside Division), recently entered a MemorandumDecision which declined to approve the settlement of a dischargeability actionfiled by a finance company against a pro se debtor.  The Memorandum Decision in First Mutual Sales Finance v. Cacciatori,2012 WL 539783, (C.D. Cal.

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What are the Tax Consequences of Not Filing for Bankruptcy?

11/18/11

Debts discharged in bankruptcy do not trigger tax liability Most everyone knows that filing for bankruptcy eliminates credit card debt, medical bills and other unsecured loans. However, a significant benefit of filing, that is rarely discussed, are the tax benefits that result when the bankruptcy discharge is issued. The IRS treats canceled debt as income [...]

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