Waiting until just the right time to file a Chapter 7 bankruptcy can help avoid being bounded into a 3-to-5-year Chapter 13 case.
If you owe income taxes for 2013, filing a Chapter 13 “adjustment of debts” would enable you to pay that tax under very favorable terms.
Take advantage of the fact that the law happens to treat certain creditors better than others.
What happens if your income goes up during the years of a Chapter 13 case?
You’ll likely be much more comfortable with the Chapter 13 “adjustment of debts” procedure once you read this story about how it plays out.
The easiest way to pass the “means test” is to have no more than median income. Here’s how it works.