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.
The peculiar way that the means test is calculated may give you some opportunities.
There may be very tangible benefits to seeing an attorney about bankruptcy now instead of waiting until after December 31.
What happens if your income goes up during the years of a Chapter 13 case?
Corporate profits are very high, while unemployment remains high. Why aren’t businesses hiring more? Because they don’t think they need to.
Skip the “means test” and qualify for Chapter 7 if you fit within these military-related exemptions. But they ARE narrow ones.
The easiest way to pass the “means test” is to have no more than median income. Here’s how it works.
Income has gone down since the official end of the recession in spite of more education.
Not only have our incomes continued to go down since the recession officially ended, they’ve gone down more than they did during the recession.
Found so much interesting about taxes that wouldn’t fit into our last blog, so had to give you more. Such as the income and taxes of the wealthiest tax return filers.
The amount of your income may not disqualify you from Chapter 7.
Once garnished, that portion of your wages or salary is forever gone. With one exception.
Bankruptcy quashes a garnishment, but only if it’s filed in time.
Bankruptcy protects your paycheck because it’s more powerful than the creditor’s garnishment court order. Bankruptcy Stops Wage Garnishments A garnishment is effectively a court order which tells your employer to pay a portion of your paycheck to the creditor instead of to you. Except in rare circumstances, a creditor can’t get that garnishment order without first suing you and getting … Read More
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