Three of the Worst Debts to Have in South Carolina

I am often asked by my bankruptcy clients are there certain debts that are better than others. The answer is yes. Below are the top three worst debts to have in my opinion. The reason these debts make my top three is because bankruptcy discharge powers either have no affect or there are multiple exceptions. 1. […]

How does Chapter 13 Bankruptcy help with IRS Taxes?

Tax debt article written by Columbia, SC attorney Daniel Stone Chapter 13 bankruptcy can help debtors with both IRS and South Carolina Department of Revenue taxes. Most people assume bankruptcy cannot eliminate taxes. While it is true that bankruptcy cannot discharge many debts, there are some taxes that Chapter 13 bankruptcy can lower to the same […]

Top 5 reasons why bankruptcy is the best form of debt relief

Bankruptcy is the best form of debt relief for many reasons to include the following Top 5 reasons: 1. Unlike debt consolidation plans, Chapter 7 bankruptcy wipes out/discharges all your unsecured debt. Chapter 13 in most cases wipes all your unsecured debt at only a cost of a few pennies on the dollar. 2. Chapter […]

How bankruptcy can help with tax debt

Tax debt article written by Columbia lawyer Daniel Stone Bankruptcy can be very beneficial to debtors seeking tax relief. Depending on the type of tax debt and age of the debt, bankruptcy can be very helpful. The most significant gains can be seen with federal and state income taxes older than three-years-old. If the income […]

TOP 5 ADVANTAGES OF FILING CHAPTER 13 BANKRUPTCY

HERE ARE SOME OF THE TOP ADVANTAGES OF FILING A CHAPTER 13   1. STRIP IRS TAX LIENS 2. STRIP A SECOND MORTGAGE  (VALUE AT $00.00) 3. VALUE A VEHICLE 4. SAVE A HOME OR CAR FROM FORECLOSURE AND REPOSSESSION 5. WIPE OUT A FAMILY COURT SETTLEMENT ( NARROW OPPORTUNITIES TO DO THIS IN A […]

Are IRS taxes dischargeable in bankruptcy?

IRS tax debt article written by Columbia, SC bankruptcy attorney Daniel Stone Are IRS taxes dischargeable in bankruptcy?  The short answer is some are. The Internal Revenue Services has a specific code section dealing with income taxes and dischargeability in bankruptcy.http://www.irs.gov/irm/part5/irm_05-009-002.html . The code states that in order to be discharged, a few elements must be […]