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2. Cancellation-of-debt income - Wikipedia

   en.wikipedia.org/wiki/Cancellation-of-debt_income

   The asset base for the insolvency exemption includes tax-advantaged retirement accounts, almost all types of which are excluded by law from the asset base in bankruptcy. [27] The asset base for the insolvency exclusion also includes assets that serve as collateral for any debt carried by the taxpayer.

3. Bankruptcy Abuse Prevention and Consumer Protection Act

   en.wikipedia.org/wiki/Bankruptcy_Abuse...

   The law also makes it easier for creditors who received preferential payments of less than $5,000 from the debtor before bankruptcy to avoid repaying such payments for the benefit of all creditors. The law improves the ability of the bankruptcy estate to reclaim assets placed in asset protection trusts within ten years of filing or paid as ...

4. Bankruptcy in the United States - Wikipedia

   en.wikipedia.org/wiki/Bankruptcy_in_the_United...

   Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...

5. American families are struggling with debt. When it gets ...

   www.aol.com/finance/american-families-struggling...

   Turning American families’ forgiven debt into taxable income is simply unfair, and Americans are worried about the fairness of the federal tax code. American families are struggling with debt.

6. When should I file for bankruptcy? - AOL

   www.aol.com/finance/file-bankruptcy-011643245.html

   Taxes, student loans, secured debt, child support and alimony usually cannot be erased through bankruptcy. Filing Chapter 13 Chapter 13 will leave you with a payment plan that’s up to three or ...

7. Common types of bankruptcy and how to avoid filing - AOL

   www.aol.com/finance/common-types-bankruptcy...

   Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.