Bankruptcy doesn’t just write off debts. It can undo bad things that a creditor has done to you. Like a judgment lien on your home.
If you’re careful it’s easy to avoid the rude surprise of hurting the friend, relative or other creditor you paid before filing bankruptcy.
Filing bankruptcy doesn’t just stop creditors’ present and future collection efforts against you. It might recoup money you’ve already lost.
Don’t take for granted how quickly and thoroughly filing bankruptcy protects you, your money, and everything else you own.
It’s now after April 15 so it’s no longer tax season. But if you owe income taxes, it’s ALWAYS tax season. Here’s how to escape.
You can be in a streamlined monthly installment plan to pay back income taxes even if you owe the IRS a lot of money. But should you be?
Can the IRS seize your car or truck in payment of a tax debt you owe? Yes, if it has substantial equity. Will it do so? Possibly.
You may not think of bankruptcy as a solution to your tax problems. But do look into it before the tax collector starts grabbing at you.
Chapter 13 can prevent tax liens, which can be very detrimental. IF one IS recorded, Chapter 13 deals with it better than does Chapter 7.
Chapter 7 can prevent a tax lien. Here’s what happens with and without that recorded tax lien.
A tax lien recorded before you file bankruptcy can force you to pay taxes you could otherwise not pay. You can prevent that lien recording.
It’s much safer than under Chapter 7 because the protection lasts for years instead of just a few months, and is more flexible.
You get more control than with Chapter 7 over the amount of your tax payment, who you can pay ahead of taxes, & adjustments to the payments.