I lost my business due to divorce and have a judgement by my ex who is very litigious which is how I lost my business. I have filed back taxes for the past 5 years personally and for the business and owe a significant amount but have no means to pay. I have half custody of our minor child and want to maintain that so I don't lose her. I am looking for a job but want to avoid garnishment if possible. Is it better to file bankruptcy?
Bankruptcy is a legal way for people or businesses who are no longer capable of paying back their bills to clear these debts and start over.
Wage garnishment is the process whereby your employer sends part of your paycheck directly to your creditor in order to pay off your debt.
by attorney Hans Wahl
This bLAWg is Part X in a series of bLAWgs designed to provide business owners with a high-level overview of the legal process for collecting on past-... more