More Foreclosure Moratorium Help

Wasson and ThornhillBankruptcy Advice

home in bankruptcy

Photo by Sven Brandsma on Unsplash. The mortgage foreclosure moratorium extension can be helpful. But it doesn’t help with judgment and tax liens on your home. Bankruptcy does so. Last week we wrote about the ongoing foreclosure moratorium and the related mortgage forbearance opportunities. We discussed how bankruptcy can hugely increase the practical benefits of this for you and your … Read More

Priority Debts in Bankruptcy

Wasson and ThornhillBankruptcy Law

In bankruptcy some debts are treated much, much better than others. Priority debts are treated much better in various important ways.   Debts Are Different So the Law Recognizes Some Differences The law does not treat all debts the same. That’s because you have different kinds of creditors that you owe for very different reasons. The law tries to be … Read More

During 2019 You Can Include 2018 Income Tax Debt in Chapter 13

Wasson and ThornhillIncome Taxes

If you owe 2018 income tax you can now include that tax into a new Chapter 13 case and payment plan.     Have you been considering filing bankruptcy and now also expect to owe income taxes for 2018? If so, the start of 2019 gives you more reason to file a Chapter 13 “adjustment of debts” case. Why? Because … Read More

Unexpected Benefit: Use Chapter 13 to Permanently Stop Income Tax Collection

Wasson and ThornhillIncome Taxes

Bankruptcy can help you permanently stop income tax collection. That’s true even with more recent taxes that cannot be written off.   The Automatic Staying, and the Discharge, of Income Tax Debts Sometimes people are surprised to learn that filing bankruptcy gives you power over income taxes. It does so in two big ways. First, filing bankruptcy stops the IRS … Read More