Bankruptcy Filings Spike With Tax Refunds

A recent paper from the National Bureau of Economic Research has found that tax refunds create a spike in bankruptcy filings by as much as 7 percent.The reasoning behind this spike is due to households needing to file bankruptcy but not having the cash on hand to actually declare bankruptcy. The tax refunds actually help …

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No Missed Payments: What It Means and What to Do

Quick Answer: Having no missed payments during bankruptcy is positive, but unclear tax refund issues after 5 years in a payroll-deducted plan require immediate consultation with a bankruptcy attorney. The attorney can clarify whether this affects the remaining 11 months of the payment plan.Alma “Dear Steve,I am presently in bankruptcy and i only have 11 …

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