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.

Home Loan Modification Archives

Mortgage Companies Creating Hurricane Irma Forbearance Default

April 17, 2018

Mortgage Companies are creating defaults in mortgages by failing to modify loans after a hurricane forbearance, causing impaired credit, foreclosure threats

Buying a Home After Bankruptcy

February 20, 2017

Bankruptcy is a complicated topic for most people, which is why people in debt are looking for a law office near me. Call Us: (727) 538-4188.

Apps to Help You Organize Your Finances

October 24, 2016

Here are some of the best apps, recommended by modification attorneys in Tampa, that are available to help you organize your finances.

Buying a Home with Poor Credit

August 15, 2016

Poor credit can have an impact, but there are steps you can take to try and beat the barriers created by bad credit. Call Us: (727) 538-4188.

Mortgage Refinancing Vs. Mortgage Modification

April 5, 2016

If you are struggling to pay your mortgage, you might already be considering mortgage refinancing or mortgage modification.

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.

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Category: Home Loan Modification

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