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August 17, 2016 | WHAT IS A CONFIRMATION HEARING? WHAT CAN I EXPECT?

Overview: A confirmation hearing is a court hearing required by the Bankruptcy Code and applies to Chapter 13 cases. A confirmation hearing does not occur in a Chapter 7 case. The purpose of the confirmation hearing is to ensure all parties in interest (creditors, the trustee(s), the debtor) agree with the debtor’s proposed Chapter 13 plan. If everyone is in agreement, the case is confirmed. If there is a challenge to the plan by any party, a confirmation hearing will be held in order for the judge to address and rule on the party’s concerns.

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August 17, 2016 | WHAT ARE THE EXCEPTIONS TO DISCHARGE IN BANKRUPTCY?

The purpose of filing bankruptcy is to eliminate debt. However, the Bankruptcy Code provides for certain exceptions to discharge. In other words, even if you file bankruptcy and are granted a discharge where your debt is eliminated, you may still owe certain types of debt. Only an experienced bankruptcy attorney can advise you as to whether your debt will be discharged and eliminated at the end of your case. However, for general purposes, you can expect to remain liable on the debt listed below, even after you file and receive a discharge in bankruptcy: Student

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August 17, 2016 | WHAT WILL HAPPEN IF I DON’T FILE MY TAX RETURN ON TIME? WHAT IF I HAVE TAXES FROM PAST YEARS THAT I STILL NEED TO FILE?

This year, 2013 individual tax return filings are due to the Internal Revenue Service (IRS) no later than April 15, 2014. The deadline is the same for state, local, and school district taxes in Ohio. A common and unfortunate misconception for tax filers is that taxes owed do not become due until the return is filed. That is not the case. Any taxes owed for 2013 tax year are due to be paid to the IRS, State, etc. by April 15, 2014, regardless of whether the return is filed. Many will say, “I couldn’t afford

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August 17, 2016 | CAN I DISCHARGE MY STUDENT LOANS? WHAT ARE MY OPTIONS?

What every student loan borrower, cosigner, and parent needs to know about student loans. Can I discharge my student loans? What are my options? Student loans are being dubbed as the next bubble to burst. According to 2012 reports from the Consumer Financial Protection Bureau and the Federal Reserve Bank of New York, Americans owe between $902 Billion and $1 Trillion in student loan debt. Comparatively, when the bubble burst on the housing market, there was approximately $14 Trillion of outstanding mortgage debt. An important difference to note is that mortgage loan debt is secured

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August 17, 2016 | WHEN IS THE RIGHT TIME TO FILE BANKRUPTCY?

While filing for bankruptcy can be an excellent debt relief solution for many individuals and couples, sometimes the timing of filing can make or break your case. For some, it makes sense to file for bankruptcy right away; for example, when a foreclosure or vehicle repossession is right around the corner, but in other circumstances it may save you a lot of money if you wait. Whether that waiting period is a matter of days, weeks, or months will depend on the facts of your case. If you are considering filing for bankruptcy protection and

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