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 Consolidation Law Firm Tampa Florida

Have our experienced Debt Consolidation Law Firm Tampa Florida handle your debt resolution for you.

When evaluating your all of the options to control your debt, debt consolidation allow you to address numerous debts with one payment. Our debt consolidation lawyers do the legwork to negotiate settlements that are favorable: we cope with the discussions, we speak with lenders, and in conditions where there is a debt which that has gone into a litigation, we deal with the legal proceedings.

When would a Debt Consolidation Law Firm would be a good fit to resolve my debt issues?

We examine several factors to evaluate when Debt Consolidation might be a good match to solve your debt issues:

You have consistent income.
You are behind or eminently behind on $10,000 to $150,000 in debts.
You have more assets than what it is that you are permitted to maintain, or other difficulties affecting the qualification because you earn an excessive amount of cash, Chapter 7 is not an alternative for you.
You are in a profession where you may be disqualified if you file for bankruptcy (by way of example, financial services). And/or
You would not find any debt reduction below the calculation for a Chapter 13 bankruptcy.

What’s the benefit of using the Debt Fighters for Debt Consolidation?

In brief, the benefits to Debt Consolidation are too also to lower your balances and take the frustrations of debt collection. You see, your end of involvement in Debt Consolidation is more than just making the monthly payments. In the meantime, HERE IS WHAT WE DO:

The collection calls STOP. The Fair Debt Collection Practices Act (FDPCA) along with the Florida Consumer Collection Practices Action (FCCPA) require debt collectors to stop communicating with you following a debt consolidation lawyer notifies your creditors you are represented. So they are forced to stop calling you.
We handle the collection companies and negotiate settlements on your own behalf. Because we know the law, the collection companies take us seriously, and in certain instances we sue them if break the law.
We cope with any lawsuit issues. The big nation debt consolidation firms with enormous budgets don’t speak much about a single IMPORTANT matter. They CAN’T represent you in a collection lawsuit. We can. A suit; a judgment; a garnishment of your income or bank accounts are all be serious problems, and you’ll have competent representation should they develop.
We work out a reasonable settlement agreement that guarantees you aren’t being cared for. We look out for the rights in working out the settlement terms.

Any the best part? There are no up front lawyers fees —

Its a win-win. Our Debt Consolidation Law Firm works in your interest where get paid only when we are able to keep in your pocket.

What are the risks of debt settlement?

Therefore it’s possible that litigation could continue or appear during the process there is not an automatic stay in debt consolidation like there is in bankruptcy. Finally, in some instances, settle debt can lead to tax obligation, but the balances on the debt, even with added tax liability, is more beneficial than full payment.

For Tampa, FL residents, the Debt Fighters are the choice for Debt Consolidation

Call Now for a Free Case Evaluation
Clearwater: (727) 538-4188 | Tampa: (813) 225-3111

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Debt Consolidation Law Firm Tampa Florida