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2. 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.

3. Cancellation-of-debt income - Wikipedia

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

   Taxpayers in the United States may have tax consequences when debt is cancelled. This is commonly known as cancellation-of-debt (COD) income.According to the Internal Revenue Code, the discharge of indebtedness must be included in a taxpayer's gross income. [1]

4. Why Bankruptcies Increased in 2023 — And How Not To Let It ...

   www.aol.com/finance/why-bankruptcies-increased...

   Bankruptcy. The mere word can evoke shame, fear and dread -- and for good reason. When you file for bankruptcy, your credit score takes a major blow, possibly dropping as much as 240 points,...

5. Rachel Cruze: 3 Reasons To Not Make Bankruptcy Your First ...

   www.aol.com/finance/rachel-cruze-3-reasons-not...

   In the U.S., debt is a serious financial issue. According to Debt.org, factoring in mortgages, the average debt in the U.S. is $101,915 per household. When debt gets out of control, it's common...

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

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

   Filing for bankruptcy, while helpful for some, can have a variety of serious and long-term implications. Not only will you see a credit score drop of up to 200 points, but the bankruptcy will stay ...

7. To file or not to file … that is the question - AOL

   www.aol.com/news/file-not-file-110140281.html

   Column covers reporting rules and IRS's reasons for to file a 2021 tax return.