One of the most purposeful and effective tools in bankruptcy is the “automatic stay.” When a debtor files for bankruptcy, the “automatic stay”, codified in 11 U.S.C. § 362, operates to “stay” any collection or assessment efforts of creditors against the Debtor. For example, if a debtor was facing a […]
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The Requirements to Abate Taxes in Bankruptcy
Generally, in a bankruptcy proceeding the debtor’s pre-petition debts are discharged; taxes are unique in that most tax debts are not dischargeable. However, some tax debts may be dischargeable depending on the type of tax, how old the tax debt is, if the debtor filed a return, and the type […]
Exceptions to Discharge in Bankruptcy
One of the benefits of the Bankruptcy Code is that debtors are able to discharge certain debts, and have a fresh start. A discharged debt means that the debtor is no longer liable for that particular debt. When a debtor files for bankruptcy under Chapter 7, 11, and 13, certain […]