A Fresh Start for Your Home Equity Encumbered by a Tax Lien

Wasson and ThornhillTax Liens

Chapter 13 takes away the danger of a tax lien encumbering the equity in your home.   If the IRS or your state tax collector records an income tax lien against your home, and you want to keep the home, sometimes through bankruptcy you don’t have to pay the tax. If there’s no equity at all in the home to … Read More

A Fresh Start on the Income Tax Lien against Your Home

Wasson and ThornhillTax Liens

If the IRS or state has recorded a tax lien on your home, sometimes a Chapter 13 “adjustment of debts” can get rid of both the tax and the lien.   Income Taxes that Can Be “Discharged” (Legally Written Off) If you owe an income tax debt, it can be discharged like most other debts. The tax debt just needs to meet … Read More

A Fresh Start on a Child or Spousal Support Lien

Wasson and ThornhillChild & Spousal Support

If you have a child or spousal support lien on your home because you’re behind on support payments, with Chapter 13 you can safely protect the home. If you are behind on your support payments, your ex-spouse and support enforcement agencies have tremendous tools to use against you to try to force you to catch up. And if you own a … Read More

A Fresh Start on Unpaid Property Taxes

Wasson and ThornhillTaxes

Having unpaid property taxes is dangerous, and violates the contract with your mortgage lender. Bankruptcy addresses both issues. Is Chapter 7 “Straight Bankruptcy” Enough Help? It possibly can give you enough of a fresh start with your other debts so that you can catch up on your property taxes. But doing so while keeping your mortgage lender also satisfied is difficult to pull … Read More

Judgment Liens that Can Be “Avoided”

Wasson and ThornhillBankruptcy Procedure

Bankruptcy can’t get rid of most creditor liens on what you own. But judgment liens that can be “avoided” on your home are an exception. Our last blog post was about judgment liens, why they are so dangerous, and how both Chapter 7 and 13 types of bankruptcy can deal with them. Today’s blog post explains what determines whether a … Read More