Subordination Agreements, Explained: How Junior Lenders Sign Away Priority
A subordination agreement ranks one lender's claim behind another's — lien subordination orders collateral, payment subordination orders cash.
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Bankruptcy
Chapter 7 and Chapter 13 bankruptcy, discharge rules, and tax debts in bankruptcy
Canceled Mortgage Debt Is Taxable Again in 2026: What the Expired Principal-Residence Exclusion Means for You
Canceled mortgage debt is taxable income again in 2026 — the IRS principal-residence exclusion expired. Insolvency and bankruptcy on Form 982 can shelter you.
Your Stock Went to Zero: How the Worthless-Securities Deduction Works
Stock that became totally worthless is deemed sold Dec. 31 under IRS Section 165(g) — report $0 proceeds on Form 8949 and amend up to 7 years back.
The PACA Trust: How Produce Sellers Get Paid First When a Buyer Goes Bankrupt
Under 7 U.S.C. 499e(c), unpaid produce sellers are paid from a buyer's trust assets before other creditors — if terms stay ≤30 days and notice is timely.
Can Bankruptcy Wipe Out Your IRS Debt? The 3-Year, 2-Year, and 240-Day Rules Explained
Chapter 7 can erase income taxes when the return was due over 3 years ago, filed over 2 years ago, and assessed over 240 days ago, with no fraud or evasion — but trust fund taxes, unfiled returns, and recorded tax liens survive every discharge.