With Chapter 13 you may have to pay some part of the taxes that you could just discharge under Chapter 7, but it may be worth it.
During the first months of 2016 your bankruptcy can write off more of your tax debts.
Think about filing bankruptcy in early 2016 if you had some extra source of money in mid-2015.
We show how filing bankruptcy before the end of December could result in a much shorter Chapter 13 case.
Even bankruptcy cannot help if you drink and drive, cause an accident, and hurt somebody, damage property, or are fined.
You may have extra motivation and greater ability to repay a personally important debt this time of year. But maybe you shouldn’t.
If you can, don’t do cash advances during the holidays if you’re contemplating filing bankruptcy. If you do, understand the rules about them.
If you’re considering filing bankruptcy, try to avoid using credit cards to finance the holidays. But if you do, there are some extra risks.
Filing bankruptcy in December instead of January can make the difference between qualifying for Chapter 7 or being forced into Chapter 13.
We’re lingering in the Thanksgiving spirit by appreciating what Chapter 13 has to offer.
Chapter 7 has many important features deserving appreciation.
Which kind of bankruptcy to file depends on whether there is equity for the lien and whether the underlying tax can be discharged.
Income tax debts that can’t be written off must be paid, either after a Chapter 7 case or during a Chapter 13 one.
Unpaid support is the highest priority of the “priority” debts. Chapter 7 frees up money to pay it. Chapter 13 buys you time to do so.