Income tax can, in some instances, be discharged in a personal bankruptcy. In order for income taxes to be dischargeable, the tax returns had to have been filed at least two years prior, and the same amount of time would have to have gone by before they can become dischargeable.

Income tax can, in some instances, be discharged in a personal bankruptcy. In order for income taxes to be dischargeable, the tax returns had to have been filed at least two years prior, and the same amount of time would have to have gone by before they can become dischargeable.

What Are The Exemptions For Bankruptcy In Florida?

In a Chapter 7 case, in order to obtain the benefit of the discharge, meaning the wiping out of the debt, the tradeoff that the federal government has set is that a consumer is limited on the amount of assets they can keep. The exemptions are the list of property that comes from state and federal law, which says which things you are allowed to keep. In Florida, the abbreviated list includes your homestead or primary residence, a certain allowance of personal property, which includes basic household goods, a limited allowance of vehicle equity, retirement funds, and some other assets. In cases outside of Chapter 7, such as Chapter 13, you are allowed to keep all of your assets, but the exemptions may affect your monthly repayment plan.

Debt Relief Attorney: Bankruptcy, Debt Settlement, & Other Legal Services In Florida

Mortgage Refinancing Vs. Mortgage Modification

April 5, 2016

If you are struggling to pay your mortgage, you might already be considering mortgage refinancing or mortgage modification.

Consumer Rights: Consumer Protection Laws

March 29, 2016

Consumer protection laws are a form of government regulation. The Federal Trade Commission (FTC) enforces several of these laws.

What Is Predatory Lending?

March 22, 2016

Predatory lending is the use of unfair, deceptive, or fraudulent practices by a lender during the loan process. Call Us: (727) 538-4188.

Debt Relief: Litigation and Negotiation

March 15, 2016

If you are struggling, it can be an asset to hire legal counsel skilled in debt negotiation and litigation to help. Call Us: (727) 538-4188.

How to File for Bankruptcy

March 8, 2016

Filing for bankruptcy is never an easy decision to make. It is often a last resort for people that find themselves in dire financial situations.

Can I Keep My House If I File Bankruptcy?

March 2, 2016

An experienced bankruptcy lawyer can provide more guidance to you about the most appropriate steps to take. Call Us: (727) 538-4188.

Handling Creditor Harassment

March 1, 2016

There are state and federal laws established to protect consumers from collection harassment. Call Now For a Free Case Evaluation Clearwater: (727) 538-4188

Home Loan Modification

February 23, 2016

Struggling to pay your monthly mortgage may have you considering a home loan modification. Modifying your mortgage can help reduce your monthly payments.

Help for Foreclosure

February 5, 2016

Foreclosure is when mortgage payments are no longer being made, and so the lender forces the sale of a home. Call Us: (727) 538-4188.

Different Tax Implications

November 27, 2015

Other than the implications of the income-tax, certain other services are also included in the service tax matters under the separate regulation.

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