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 Archives

How To Make Debt Collector Stop Calling My Job?

May 15, 2017

Everyone incurs a debt at some point in their lives, and as much as they want to take responsibility for it. Call Us: (727) 538-4188.

Things You Shouldn’t Do If You’re Considering Bankruptcy

May 12, 2017

Before you do anything, you need to know the detrimental financial moves that can make filing for bankruptcy even harder.

How to Protect Credit Card Information?

May 5, 2017

some tips from debt collection defense attorneys on how to make sure your credit card information stays secure. Call Us: (727) 538-4188.

20 Simple Ways to Save Money Every Day

May 1, 2017

Keeping a close eye on your finances is a must if you are on your way to Financial Health. Call Now For a Free Case Evaluation Clearwater: (727) 538-4188.

Will an Employer Hire Me if I File for Bankruptcy?

April 28, 2017

The first involves being in a job and wondering whether you’ll be fired because you filed for bankruptcy and the other is if you will be hired despite this.

Do Debt Buyers Follow the Same Rules as Debt Collectors Under the FDCPA?

April 17, 2017

Debt collectors and debt buyers follow the same rules? The legality of this is covered by the Fair Debt Collection Practices Act (FDCPA).

Red Flags for Debt Negotiation Resources

April 14, 2017

We typically recommend that you hire an attorney to handle debt negotiation, and there are many reasons why. Call us: (727) 538-4188.

The Credit CARD Act

April 10, 2017

Most of the country uses credit cards for even the most basic purchases. Call Now For a Free Case Evaluation Clearwater: (727) 538-4188

What Debt Should I Pay Off First?

March 31, 2017

There’s only so much money to go around, and figuring out where to put your funds first can be confusing. Call Us: (727) 538-4188.

Common Household Budget Items

March 24, 2017

Determining your household budget, you need to make sure that you are accounting for every item that you will be spending money on.

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