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.

Congratulations To Our 2019 Scholarship Winner!

October 21, 2019

Elizabeth DeFazio Headshot The Law Office of Michael A. Ziegler Debt Fighters is pleased to announce the winner of the Financial Planning Scholarship to Elizabeth DeFazio!

Ms. DeFazio recently transferred from Raritan Valley Community College to Rutgers University. Attending community college was one of the many financial decisions she made to save money and find her passion as a student. She is currently studying Chemical Engineering because she’s interested in the vast applications and career options available with this degree. After obtaining her bachelor’s, Elizabeth’s aim is to enter into a Chemical Engineering Master’s program.

Outside of the classroom, Elizabeth is extremely involved in the Society of Women Engineers (SWE). She enjoys engaging in her local and school community to inspire women to pursue engineering. This scholarship enables more flexibility to devote time to organizations like SWE and her chemical engineering curriculum.

Please join us in wishing Elizabeth DeFazio congratulations on being awarded the Financial Planning Scholarship and continued success in her studies.

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Ziegler Diamond Law: Debt Fighters, provides effective legal services to consumers in Clearwater, Florida, and throughout the Tampa Bay area who are facing home foreclosure, unmanageable debts, debt collector harassment, or other debt-related problems.

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