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  2. Which debts can’t be discharged in bankruptcy? - AOL

    www.aol.com/finance/debts-t-discharged...

    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 ...

  3. State defaults in the United States - Wikipedia

    en.wikipedia.org/wiki/State_defaults_in_the...

    Without the possibility of bankruptcy, a state can experience the debt overhang problem, where large existing debt burdens deter any additional lending to the state, driving out capital. [7] The state's ability to tax and collect revenue is not unlimited; residents can simply move away if the tax is too high. [11]

  4. California man with $170K in tax debt mulls bankruptcy after ...

    www.aol.com/finance/california-man-170k-tax-debt...

    According to the Burr Law Office, you can declare bankruptcy to potentially wipe out tax debt but only on debt that is at least three years old. In this case, the California man’s back taxes are ...

  5. What Happens If a State Goes Bankrupt? - AOL

    www.aol.com/happens-state-goes-bankrupt...

    State bankruptcies have recently become an open question as the coronavirus pandemic shreds many states’ finances. No state has ever declared bankruptcy, though. As state and local governments ...

  6. Bankruptcy in the United States - Wikipedia

    en.wikipedia.org/.../Bankruptcy_in_the_United_States

    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were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...

  7. Bankruptcy Abuse Prevention and Consumer Protection Act

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

    Even in cases where there is no presumption of abuse, it is still possible for a Chapter 7 case to be dismissed or converted. If the debtor's "current monthly income" is below the median income, as discussed above, only the court or the United States trustee (or bankruptcy administrator) can seek dismissal or conversion of the debtor's case. If ...

  8. Can you pay taxes with a credit card? - AOL

    www.aol.com/pay-taxes-credit-card-173000793.html

    Yes, depending on the state where you live or conduct business. Can you use a credit card to pay your taxes using tax preparation services? ... that accept credit card payments – including tax ...

  9. Chapter 13, Title 11, United States Code - Wikipedia

    en.wikipedia.org/wiki/Chapter_13,_Title_11...

    The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...