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.

How Serious Can Credit Reporting Errors Actually Be?

Name: How Serious Can Credit Reporting Errors Actually Be?
Uploaded: 2018-04-23
Duration: 1 min 11 s
Description: Credit reporting errors can be really significant. Errors related to identity theft or identity mix-ups can be very pervasive and take up large portions of someone’s credit report.

How serious can credit reporting errors actually be? Attorney Michael Ziegler explains that credit reporting errors can be really significant. Errors related to identity theft or identity mix-ups can be very pervasive and take up large portions of someone’s credit report. It can be fairly complicated to cure those types of errors because they can apply to multiple accounts. Because of this, you have to have more detailed activities to correct the error.

Identity theft and total mix-ups can result in multiple accounts ending up on a report erroneously. Those types of severe errors essentially compromise the totality of an account and have significant impacts on credit reports. In contrast, simple errors are limited or isolated in nature. For example, a report may show a missed payment when in fact the payment was made, or there may be one detail that is illegitimate while the rest of the account is legitimate.

Contact attorney Michael Ziegler in Florida for a free case evaluation today. He founded his law firm on the principles of professional quality and personal care.

Clearwater: (727) 538-4188 Tampa: (813) 225-3111

Mt. Dora: (352) 600-1326

How Serious Can Credit Reporting Errors Actually Be?

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