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.

Bankruptcy Archives - Debt Fighters

Will I Lose My Home In Chapter 7 Bankruptcy?

April 17, 2019

If you’re considering bankruptcy, you would be wise to discuss your situation with a foreclosure defense lawyer Tampa, FL before you move forward. Call us today.

Does Bankruptcy Stop Foreclosure Of A Home?

February 21, 2019

It is important to seek expert legal help from a qualified foreclosure defense lawyer Tampa, FL trusts if you are facing foreclosure. Contact us today.

What are the Proper Steps in Chapter 7 Bankruptcy?

January 25, 2019

Contacting a bankruptcy lawyer in Tampa, FL, may be helpful in taking on a knowledgeable role when facing Chapter 7 bankruptcy proceedings. Call us today.

Secured vs Unsecured Bankruptcy Debts

Contact an attorney who can help you determine the type of bankruptcy you should file and how your debts will be managed during proceedings. Call us today.

Filing for Bankruptcy as Small Business Owner

January 21, 2019

Filing for bankruptcy as a business can be complicated, and you could benefit from the help of a Bankruptcy Lawyer Clearwater, FL offers. Contact us today.

Will Filing for Bankruptcy Impact a Workers’ Comp Settlement?

Bankruptcy can affect many areas of your life, possibly even your workers compensation. A bankruptcy lawyer Tampa, FL offers can explain this. Call today.

Signs You Should File for Bankruptcy

December 28, 2018

If you are in financial trouble, bankruptcy may be an option. Speak with a bankruptcy lawyer Clearwater, FL offers about your options. Call us today.

Can Bankruptcy Be a Useful Resource for Financial Hardships?

Bankruptcy can be helpful for some, and speaking with a debt collection lawyer Tampa, FL offers can discuss your options and rights. Call us today.

When Newly Divorced Individuals Declare Bankruptcy

November 20, 2018

Divorce can affect your finances, usually negatively. A chapter 7 bankruptcy lawyer Clearwater, FL trusts can discuss your options with you. Call us today.

Can A Car Accident Case Affect My Bankruptcy?

Bankruptcy is a legal, financial option for some. A bankruptcy lawyer Tampa, FL relies on can discuss this with you. Call us today about your situation.

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Category: Bankruptcy

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