Chapter 13 stops both mortgage and property tax foreclosures. Then you have up to 5 years to catch up on the property taxes.
Try to file bankruptcy before an income tax lien gets recorded. But if you can't, here are the effects of a tax lien under Chapter 7 and 13.
Before filing bankruptcy, you should know the implications of an unpaid child/spousal support debt. Payment may depend on whether you file Chapter 7 or 13.
Chapter 13 gives you a powerful, reasonable, flexible, and even calm procedure for catching up on your past-due child or spousal support.
Chapter 7 does not stop the collection of unpaid child or spousal support, nor provide any procedure to pay the support. It may still help enough.
Chapter 13 gives you much more power over your mortgage and other home-related debts so that you can sell your home when it's best for you.
Chapter 7 is very limited in helping avoid a support lien. Chapter 13 is much more powerful, as long as you precisely meet some conditions.
Chapter 7 can prevent future income tax lien recordings against your home, if the tax is truly dischargeable and you have a no-asset case.
Chapter 7 can prevent future income tax lien recordings against your home, if the tax is truly dischargeable and you have a no-asset case.
Chapter 7 provides no mechanism to cure your mortgage. But Chapter 13 does provide a powerful, realistic, and practical way to do so.
Do you expect to owe income taxes for the 2018 tax year? Starting January 1, 2019 you can wrap that tax into a new Chapter 13 payment plan.
Bankruptcy will stop foreclosure fast. But there are excellent reasons to get your ducks in a row early.
If you had struggled to keep a business open, but have decided to throw in the towel, there's a good chance you owe taxes. Here's how to deal with them.
The IRS is just another creditor that you can get immediate protection from by filing bankruptcy. With some exceptions.
If you can't discharge your income tax debt through Chapter 7, or make workable payment arrangements on your remaining tax debt, then Chapter 13 can be a good solution