Many potential adoptive parents are worried that their past financial history will ruin their chances of being approved as an adoptive parent. To help you avoid stressing over this, below are three commonly asked questions regarding bankruptcy and adoption:
How Does Past Bankruptcy Affect My Application?
The critical factor that determines the effect of bankruptcy on your adoption application is the length of time that has passed since you were last declared bankrupt. If you managed to get yourself into a difficult financial situation ten years ago, it will have much less of an effect than if you are still considered bankrupt at the time you submit your adoption application.
If you were declared bankrupt at some point in the past, you will have to show evidence that you have regained control of your finances and have made progress since fighting your way out of bankruptcy. Responsibility is one of …Read More
If the IRS is garnishing your wages for tax debt you owe, you might want to look into your options. A good way to start is by visiting a bankruptcy attorney that specializes in tax services. Your attorney can help you understand all the options you have, and he or she will help you select the option that is best for your situation. Here are several things you should know about eliminating the tax debts you owe.
Make Sure You File All Returns
The first thing your attorney might ask you is whether or not you have filed all your returns over the years. If you missed a particular year or have not filed your taxes for the most current year, you should begin your process by filing the taxes you need to file.
Depending on your situation, there is a chance that this could help you with the amount …Read More
If you are having a difficult time paying your bills and catching up on tax debts you owe the IRS, filing for bankruptcy might offer you some relief. Chapter 7 bankruptcy and Chapter 13 bankruptcy can both offer relief for tax debt in some cases, but it will depend on the conditions of the tax debt you owe and on your personal situation. Here are several things you should know about bankruptcy, tax debt, and the way debts are classified in bankruptcy.
The Difference Between Priority Debt and Nonpriority Debt
The first thing you should understand about debts in bankruptcy is that each debt you owe will be classified as either a priority debt or a nonpriority debt. A priority debt is a debt you cannot get out of repaying, no matter which type of bankruptcy you use. You will have to repay the debt in full, and priority …Read More