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

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.

11th Circuit Decision Broadens Rights for Florida Bankruptcy Exemptions

May 31, 2015

the 11th Circuit opined on an issue that has been hotly debated regarding Florida bankruptcy exemptions. Call us: (727) 538-4188.

Dealing With Financial Stress

January 20, 2015

Stress is a fact of life, but financial stress is one of the worst offenders & figuring out how to deal with financial stress can be difficult.

How to File for Bankruptcy – Questions and Answers

December 16, 2014

Just acquiring a basic understanding on how to file for bankruptcy seems daunting. And naturally, anyone considering bankruptcy will have many questions.

Short Sale or Bankruptcy

October 31, 2014

The filer remains responsible for all homeownership responsibilities after the bankruptcy. Call Now For a Free Case Evaluation Clearwater: (727) 538-4188.

Foreclosure and Credit Scores: What Will My Future Look Like?

October 29, 2014

Each time you apply for credit, the lender will consult this number. The higher the score, the less of a risk you are to the creditor.

Six Tips for Negotiating Debt and Dealing with Creditors

September 12, 2014

If you are struggling to pay down your debt, chances are, you’ll need to communicate with your creditors at some point. Call Us: (727) 538-4188.

Understand and Prevent the Most Common Causes of Debt

August 21, 2014

Knowing the most common causes of debt will hopefully help you avoid them. Call Now For a Free Case Evaluation Clearwater: (727) 538-4188.

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