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

Budget Tips to Help with Holiday Spending

December 12, 2016

Your finances can take a serious hit around the holidays. If you’re already considering contacting a bankruptcy attorney in Florida.

Student Loan Changes that Help Borrowers

November 14, 2016

According to Attorney Mike Ziegler, so it makes sense that big changes are in order. Here are some recent student loan changes that will help borrowers.

Chapter 13 Trustees

November 7, 2016

When considering bankruptcy, filing for Chapter 13 in Florida is a viable option for those who are overwhelmed by financial strain.

Preparing For Bankruptcy Tips

October 17, 2016

You can begin to monitor your credit score easily after bankruptcy, if you are aware of your debts beforehand. Call us: (727) 538-4188.

What Your Credit Score Means?

October 10, 2016

We’ve all heard about the daunting measurement of responsibility- the credit score. Call Now For a Free Case Evaluation Clearwater: (727) 538-4188.

Top Reasons People Go Into Debt in America

September 30, 2016

Many Americans are in debt, and you may be surprised to know that many of them are in debt for similar reasons. Call Us: (727) 538-4188.

How Filling for Bankruptcy Affects your Home?

August 29, 2016

Most people’s prime concern when filing for bankruptcy is buying a home, or how the bankruptcy will affect your current home.

Lies your Debt Collector will Tell You

August 22, 2016

Debt collection agencies have one goal in mind- to collect the debt that is owed by any means possible. Call Us: (727) 538-4188.

Ziegler Law Firm Shares Debts not Covered by Bankruptcy

August 8, 2016

We know that debts will be resolved to some extent by declaring bankruptcy, but bankruptcy doesn’t handle everything.Call Us: (727) 538-4188.

Advice From a Bankruptcy Attorney Clearwater FL – Starting Over

July 12, 2016

Starting over from bankruptcy may sound difficult at first, but with proper financial planning and money manage, you can get back on your feet in no time.

Clearwater: (727) 538-4188 Tampa: (813) 225-3111

Mt. Dora: (352) 600-1326

Category: Bankruptcy

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