Do you know why you should never hide assets in bankruptcy? It’s because your trustee can revoke your bankruptcy discharge. The main goal of filing bankruptcy will be lost since your debt will not be discharged and you’ll still be held responsible for paying it off.
Read more - https://www.ovlg.com/education/why-pay-tax-even-on-your-debt-relief-savings.html
Why do you need to keep a tab on your budget every now and then? Is it really important? Have these questions ever popped in your mind? If yes, then it’s time to revisit the benefits of tracking budget every now and then. Some of the benefits of tracking budget are:
Read more - https://www.ovlg.com/education/why-should-you-love-to-track-your-budget-every-now-and-then.html
Why do you have to pay tax on your debt relief savings? It’s because the IRS treats the saved amount as income. And therefore it becomes a taxable event.
Read more - https://www.ovlg.com/education/why-is-it-bad-to-keep-your-assets-under-cover-in-bankruptcy.html