Many people fear the word bankruptcy.A lot of families are having trouble containing their debt and managing their expenses. If you have any fear or apprehension about bankruptcy, you stand to benefit from the tips that follow.
Don’t use credit cards to pay your taxes if you’re going to file bankruptcy. In most states, this debt won’t be discharged, and you could end up owing the IRS a whole lot more. Transferring the debt to another medium (e.g. a credit card) won’t magically make a tax debt discharagable, either. Thus, it doesn’t make sense to use a credit card when it is going to be discharged when you file for bankruptcy.