Chapter 7 Bankruptcy

When faced with a dire financial situation, more people than you may think turn to bankruptcy as the best solution. According to the United States Courts, 378,953 people filed for Chapter 7 bankruptcy in 2020. While it provides relief, you need to stay diligent during...

When you are trapped in the cycle of overwhelming debt, you might dread when tax time comes around. You might not have enough in the bank to pay your income taxes. An unpaid tax bill can only add to your debt and the stress it causes yourself and your family. Chapter...

The novel coronavirus (COVID-19) has created one of the worst health crises in history, with over 400,000 deaths worldwide and counting. With many states issuing stay at home orders, the closure of non-essential businesses, and widespread layoffs and furloughs, the...

Sometimes life throws unexpected challenges at you that result in costly consequences. Economic conditions beyond your control can force your employer to lay off employees. You or a loved one could also suffer an unforeseen injury or illness, eating up a substantial...

Understanding Dischargeable Taxes in BankruptcyThere is a common misconception that income taxes are never dischargeable, or forgiven, in bankruptcy. In fact, you can discharge some back federal, state, and local income taxes in either a Chapter 13 or a Chapter 7...

With nearly 20 years of experience, Michael A. Fakhoury, ESQ., PC has represented clients in bankruptcy cases. Filing for bankruptcy can be stressful and confusing. Knowing what the process looks like, as well as what benefits each type of bankruptcy provides, can...