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Priority Debt for Driving While Intoxicated
If you injured someone by unlawfully driving while intoxicated, the resulting personal injury debt would be a priority debt in bankruptcy.
priority debts
Paying Employee Debt in Chapter 13
If you prefer to pay back wages to a present or prior employee, you can do so in Chapter 13 especially well if that debt is a priority one.
Paying Employee Debt in Bankruptcy
If you prefer to pay employee debt, back wages, to a present or prior employee, bankruptcy can help you do so if you use the law in that employee’s favor.
Independent Contractor Commissions
If you owe sales commissions to an independent contractor when you file bankruptcy, it may be a priority debt. Here's what determines this.
Wages Owed to an Employee
If you owe employee wages when you file bankruptcy, that debt may or not be a priority. Here’s what determines this and why it matters.
Priority Debts in No-Asset Cases
Priority debts are largely unaffected by a Chapter 7 case--it does not discharge them, so you need to pay them after finishing your case.
Priority Debts in an Asset Chapter 7 Case
Your Chapter 7 trustee may pay your priority debts--in full or in par--through the proceeds of the sale of your unprotected, not exempt assets.
Priority Debts
One of the most important aspects of bankruptcy is that all debts are not equal. "Priority" debts are treated special in a number of ways.
List all Creditors in Your Bankruptcy Case
If you don't list a debt in your bankruptcy case, and don't add it in on time, it may not be written off. So carefully include all debts.
Your Debts in Bankruptcy
Bankruptcy is about debts. Different categories of debts are treated differently. The categories are secured, priority and general unsecured.
File a Partial-Year Tax Return for All Income Taxes
To avoid owing income taxes April 15 of NEXT year, file a partial-year tax return and pay the tax on it through your Chapter 13 case.
Paying Part or All of Tax Debt via an “Asset” Ch. 7
Give gladly to your Chapter 7 trustee assets that you don't need, if most of the proceeds of sale of those assets are going to pay your taxes.
A Chapter 7 Can . . . Help You Walk Away from Your Business by Letting Your Trustee Sell Your Last Business Assets to Pay Your Special Debts
Give the bankruptcy trustee the headache of dealing with your final business assets
The After-Christmas Bankruptcy
It's human nature to hold off filing bankruptcy until after the holidays. Here's what you need to know once you think again about filing.
Spouse Needs to Join Bankruptcy to Discharge Income Taxes, But Reluctant Because Has No Other Debts and Has Separate Asset
Finding the best way out of this seeming Catch-22 depends on a full understanding of your unique situation and your goals.