50 something man, divorced, laid off, working for reduced wages, lost home to foreclosure, living in trailer parked at helping extended family members residence, nearly $300,000 in unsecured credit and medical debt. Filed Chapter 7 now Debtor is renting an apartment, experiencing increases in income and is very happy.
Fresh Start, no worry of wage garnishment or levy actions.
50-something couple supporting adult special needs children, classified by the IRS as ‘under reporters’, had amassed a tax debt of over $30,00 and acquired an IRS lien against them, almost $90,000 of unsecured debt, and facing a wage garnishment filed their bankruptcy, stopped the wage garnishment and froze the amount of the tax debt. They successfully completed their 0% plan payments and discharged the $90,000 of unsecured and paid their tax debt in full.
Fresh Start, current with taxing entities.
50-something couple supporting elderly mother and college attending son accepted a loan modification offer from their lender because they experienced a decrease in their income, the year was the 2008. They lived through the horror of submitting loan modification documents only to be told they were never received. Their note changed hands and each time the modification nightmare began again. We filed a chapter 11 bankruptcy and an adversary action against the lender in hopes of obtaining an acceptable loan modification. After a long, hard battle the lender offered a modification the debtor could afford. The debtors are still in their home and doing well.
Fresh Start, home retained.
40-something couple with teenage children recently moved to California because the husband's income dried up with the 2008 housing crisis, and the wife worked in the home. The formerly prosperous couple used all their retirement to pay their creditors and mortgage with the goal of keeping their home and high credit rating. There were no funds to pay huge tax liabilities from the early retirement withdrawals. Their home was foreclosed, and they eventually defaulted on their payments to unsecured creditors. A chapter 7 was filed to stop the wage garnishment and discharge all of their unsecured debt. When the chapter 7 was discharged, a chapter 13 was filed to pay the tax debt.
Fresh start and payment plan for tax debt.