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“It is considered fair that the debtor should be held accountable for these debts,” Galstyan said. Most Tax Debt. In most cases, those who owe tax debts cannot discharge these debts in bankruptcy.
Loans, medical debt and credit card debt are generally all able to be discharged through bankruptcy. Tax debt, alimony, spousal or child support and student loans are all typically ineligible for ...
The last instance of such a default took place during the Great Depression, in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. [1] Current U.S. bankruptcy law, an area governed by federal law, does not allow a state to file for bankruptcy under the Bankruptcy Code. [2]
Debts not listed on the bankruptcy schedules or debts intentionally concealed in the proceedings cannot be discharged in bankruptcy. [15] Debts dischargeable in Chapter 13 but not in Chapter 7 include debts for willful and malicious injury to property, debts incurred to pay non-dischargeable tax obligations, and debts arising from property ...
This type of bankruptcy is usually pursued by people who do not earn enough money to repay their debts. Chapter 13 bankruptcy. With a Chapter 13 bankruptcy, some unsecured debts may be forgiven ...
Section 109(c) of the U.S. Bankruptcy Code provides that a municipality may be a debtor in a Chapter 9 bankruptcy case only if the municipality is specifically authorized to be a debtor by State law, or by a governmental officer or organization empowered by State law to authorize the municipality to be a debtor. [20]
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The Treasury was located in the Ohio Statehouse from 1861 to 1974, when it was moved to the Rhodes State Office Tower. The original office in the statehouse, which has been restored to its 19th-century appearance, is used for ceremonial events. [2] Before Ohio became a state, John Armstrong was Treasurer-General of the Northwest Territory from ...