Matt Berkus – Reliant Tax Relief

If you settle student loan debt after bankruptcy, you will not be able to use the bankruptcy exception to Forgiven Debt Income Tax, but you might still qualify for the insolvency exception. In any event, when settling private…more

The 341 meeting is the first, and usually the only, time the trustee sees you; so impressions matter. If your outfit does not match the expectation set by the petition, the bankruptcy trustee, consciously, or more likely…more

Normally, a settled debt is subject to what the IRS refers as forgiven debt income tax liability. For example, let’s say you owe a bank $10,000, and the bank later agrees to accept $4,000 as a full accord and satisfaction of…more

A creditor is required to report accurate and not misleading information about the consumer’s account. Therefore, if a second mortgage was included in a chapter 7 bankruptcy, not reaffirmed, and the judge entered no order…more

When a chapter 13 bankruptcy is dismissed, you still owe the debt that was included in the bankruptcy, minus any payments received by the creditors from the chapter 13 trustee. However, the creditors get to go back to your…more

One frequently posed solution to lowering a chapter 13 bankruptcy debtor's plan payment is for the debtor to purchase, and finance, a vehicle on the eve of filing bankruptcy. Is such a plan a legitimate case planning tool and…more

Student loan debt is one of two unforgivable debts (the other being back child support). Once you take on a student loan, whether you are a borrower or cosigner, you are basically stuck with debt…almost! You may be aware that…more

If a debtor surrenders investment real estate in bankruptcy, in addition to the risk of forgiven debt income tax, the debtor must be cognizant of potential capital gains tax as well…more

Don't be shocked; but filing bankruptcy doesn't stop the IRS from keeping a bankrupt debtor's tax refund. The IRS can still employ its right of set off to keep a taxpayer's tax refund to pay back-taxes notwithstanding the…more

Chapter 13 bankruptcy is a 3-5 year payment plan; let's be real, things change over time. The good news is that you can change your chapter 13 plan over time. Join Matt Berkus as he discusses the options for making changes or…more

Nothing is more important in bankruptcy than the monthly budget. Your budget determines if you qualify for chapter 7 bankruptcy, or if chapter 13 bankruptcy, determines your monthly payment. The challenge, is that many people…more

Do you know how much power you give your lenders by taking on debt? Aside from committing a criminal act, being in debt is the greatest restriction on your freedom, both in time and money. Debt is really slavery. Join Matt…more

In the rare event (in this depressed housing market) that a foreclosure sale yields surplus funds beyond that needed to satisfy the mortgage, the prior homeowner receives those funds; those funds are protected from other…more

It can cost you over a MILLION dollars in lost savings if you don't file bankruptcy to resolve your debt challenges. The true cost of getting out of debt is not just the interest paid on credit cards, its the lost opportunity to…more

Creditors have the right to object to the discharge of their debt in bankruptcy. Although such actions are rare, these objections are a real risk to bankruptcy filers that were living off of credit cards prior to filing…more