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

Understanding the Debt Collection Process

March 17, 2017

In order to properly prepare yourself for when the debt collectors start calling, you need to understand the debt collection process.

What You Should Know About Filing Bankruptcy When Married?

March 13, 2017

There are a few additional factors you need to consider. How you file will depend on your decision after considering these factors.

Ways To Save Money On Home Expenses

March 10, 2017

Better financial management begins in the home, where you at spend money each day without realizing what you are spending.

Real Life Horror Stories of Debt Collection Harassment

March 6, 2017

Here are some real life horror stories of collection company harassment. Call Now For a Free Case Evaluation Clearwater: (727) 538-4188.

The Basic Difference Between Chapter 7 and Chapter 13

February 27, 2017

The word bankruptcy is reacted to differently by everyone. To some, it is a beacon of hope that means you will never have to pay your bills again

Can I Be Put on a “Wall of Shame” or “Blacklist” for Not Paying My Bill?

February 17, 2017

When it comes to the law, can I be put on a blacklist or Wall of Shame for not paying my bill? CALL NOW FOR FREE CASE EVALUATION Clearwater: (727) 538-4188.

Keeping Your Cool when Talking to Debt Collectors

February 13, 2017

this debt collection advice for dealing with debt collectors so that you don’t lose your cool and potentially risk your case.

A Fiscal-Friendly Valentine’s Day

February 12, 2017

Valentine’s Day, don’t break your budget by overspending. Call Now For a Free Case Evaluation Clearwater: (727) 538-4188.

Tips for a Successful Bankruptcy Experience

January 27, 2017

When you are in financial strains and filing for bankruptcy, you want the process to go as quickly as possible. Call us: (727) 538-4188.

What To Do With Garnishment Of Wages

January 23, 2017

The garnishment of wages can impact your entire life by limiting your finances.Call Now For a Free Case Evaluation Clearwater: (727) 538-4188.

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