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Tag Archives: debtor

How Does an Automatic Stay Affect IRS Debt?

The automatic stay in a bankruptcy case is a court order that stops creditors from collecting debt. This order also applies to revenue agents from the Internal Revenue Service (IRS). The automatic stay prevents the IRS agents from: Garnishing your wages Filing a lawsuit against you Demanding payment Seizing your assets Issuing tax liens Taking… Read More »

Rights and Protections after Bankruptcy

Feeling hunted and hounded by creditors is definitely something debtors want to put behind them—even after bankruptcy is over.  During bankruptcy, an automatic stay prevents credit collection activities.  Similarly, a discharge relieves debtors from further debt liability and also prohibits creditor collection attempts after bankruptcy.  However, what can debtors do if a creditor continues to… Read More »

How is Chapter 11 Different for Small Businesses?

Unlike Chapter 11 bankruptcy cases that involve medium to large businesses, the U.S. Trustee is more involved in overseeing the case with a small business Chapter 11.  Early on, the debtor must attend an initial interview where the trustee evaluates the small business’s viability, the debtor’s business plan, and the debtor’s responsibility to file certain… Read More »