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

Filing Bankruptcy During Divorce Proceedings

April 25, 2016

where the joint income is too high to qualify for bankruptcy, you may wish to file after the divorce. Call Now: (727) 538-4188

Local Foreclosure Lawyers Report The Reality of the Florida Foreclosure Crisis

April 21, 2016

If you own property in Florida, you’re probably aware of the Florida foreclosure crisis.Local foreclosure lawyers know this crisis all too well.

Stop Foreclosure – How Debt Litigation Can Help You Recover

April 13, 2016

The debt continues to build, and without resolution it can become overwhelming. Having a history of debt can ruin your life.

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

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