Save Money on Your Mortgage Refinance After Bankruptcy

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Bankruptcy Laws in California
California bankruptcy laws allow the use of federal supplemental exemption in conjunction with California exemptions. These laws are derived from federal bankruptcy laws, from Title 11 of the United States Code.

The state of California is divided into four bankruptcy districts, each with a bankruptcy court named after the district. They are California Eastern bankruptcy court, Californi... Read bankruptcy article



How Credit Cards Aid Bankruptcy Loan Approval
Recovering your credit is essential when you want to get approved for a loan after bankruptcy. Most lenders will just run away at the sole mention of the word bankruptcy, so in order to reduce the risk tag that shows on your credit report, you will have to improve your credit history and try to enhance your credit score.

Credit Card & Credit Score

A credit card can do a grea... Read bankruptcy article



Save Money on Your Mortgage Refinance After Bankruptcy
When it comes to applying for a loan, who doesn't want to save money? But if you are refinancing a New Hampshire mortgage after bankruptcy, this could be easier said than done. To help you out, here are three sure-fire ways to save money on a post-bankruptcy mortgage refinance:

Prepare for the Refinance
Borrowers pay an average of $2,734 to close on a mortgage loan in New Hampshire. The last thing you want to do is get a bad deal and then have to pay to do it all over again in a year or two. Before applying for a New Hampshire mortgage refinance after bankruptcy, take time to prepare. This means getting your credit in order and setting aside time to complete the refinancing process the right way.

Shop Around
This sounds like an obvious tip, but you would be surprised at the number of people who get caught up in the refinancing process and don't bother to shop around to make sure they are getting the best deal. It is extremely important that you take time to evaluate your options when applying for a New Hampshire mortgage refinance after bankruptcy. There are lots of different lenders and refinancing programs to choose from. If you don't take time to investigate them all, you could be making a very expensive mistake.

Ask Questions
Refinancing a New Hampshire mortgage after bankruptcy can be confusing, especially if you aren't overly familiar with the process. This is why it is so important to ask questions about anything you do not understand. A reputable lender will be more than happy to provide you with answers and walk you through every step of the refinance loan.

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Tax Debts in Bankruptcy

Ask ten people if you can discharge tax debts in bankruptcy and you will get ten different answers. The correct answer is that you can, but only if certain tests are met.

Getting Rid of Tax Debts in Bankruptcy

Bankruptcy is the great financial white board for Americans. It essentially serves as a get out of financial jail card, a chance to start over after we have made a complete and utter mess out of our financial life. Even better, you can refile every seven years. Only in America!

While bankruptcy is a tool that can be used to get people out of a tight financial spot, it is not a cure for all of your debts. Student loans are one type of debt that is notoriously difficult to wipe off your books. In this same vein, tax debts are another area that is shrouded in mystery. Well, let's provide a little clarity.

The good news is tax debt can be discharged in bankruptcy. Discharged simply means the debt is canceled and cannot be collected now or in the future. The bad news is you must meet a number of criteria before the court with give the IRS the boot. So, what are the criteria?

1. Filed Returns - You must have returns on file with the IRS for the years in dispute. If you never filed returns, you will not receive a discharge.

2. Late Returns - If you filed your tax returns late, can you still get rid of the tax debt? Yes, but only after two years have passed since you filed the return with the IRS. This requirement often is where people run into problems when trying to discharge their debt.

3. Three Year Rule - The tax debt in question has to be for a return that was due at least three years in the past. You cannot file bankruptcy in 2007 and try to discharge a 2006 tax debt.

4. No Fraud - Your tax debt cannot be related to fraud, to wit, you must owe back taxes because you failed to pay them, not because you played funny on your tax return.

5. No Tax Evasion - Again, your tax debt cannot be due to a criminal act. If you stuffed money away in a Swiss bank account and the IRS found it, the bankruptcy court is not going to discharge the debt.

6. Assessment - 240 days must have passed since the IRS assessed the tax due. This essentially means the day the IRS arrived at a number you owe.

As you can see, tax debts can be discharged in bankruptcy if you meet the requirements noted above. Now, how do we deal with those student loans...




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Save Money on Your Mortgage Refinance After Bankruptcy
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