Can I Discharge Income Taxes in A Chapter 7 Bankruptcy?
Filed under: Chapter 7 Bankruptcy, Non-Dischargeable, Taxes, Uncategorized
If you owe income taxes, especially on more than one tax year, or you owe a large amount, Chapter 13 is often the better way to go. But you CAN also write off (“discharge”) certain income taxes with a straightforward Chapter 7 filing. To do so, however, the tax debt that you are trying to [...]
The Effect of Recent Prior Bankruptcy Filings on the “Automatic Stay”
Filed under: Asset Protection, Automatic Stay, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy
The automatic stay protects you and your property from your creditors when you file bankruptcy. This is one of the most important benefits of filing bankruptcy. But if you filed a previous bankruptcy case or two which were dismissed (closed without being completed), your new bankruptcy case may lose that crucial protection. The automatic stay [...]
What Happens to My Tax Refund in a Chapter 7 Bankruptcy?
Filed under: Asset Protection, Assets, Chapter 7 Bankruptcy, Taxes
Holding on to your 2011 IRS and California tax refunds when you’re filing a Chapter 7 bankruptcy is a matter of careful timing and tactics. In most cases we can help you keep your refunds, but we have to work closely together to make that happen. Be aware that when your Chapter 7 bankruptcy is [...]
Can You Remove A Homeowners Assocation Lien from Your Home?
Filed under: Chapter 13 Bankruptcy, Foreclosure, Uncategorized
Many homeowners in California are facing growing problems in trying to not only keep up with their mortgage but their monthly homeowners association payments. In California, a homeowners association can exercise the right to place a lien on your home for past due HOA fees. A homeowners association can eventually foreclose on a property for [...]
How Long Do I Have to Respond to the Lawsuit from My Credit Card?
Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Credit Cards, Uncategorized
Failure to make payments on your credit cards or personal loans can result in a creditor filing a lawsuit to collect on the money owed. After the creditor files the case in court, he will serve you with a copy of the summons and complain. In California, the summons provides you information on the time [...]
Can Bankruptcy Stop An Eviction?
Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Foreclosure, Uncategorized
Can Filing f or Bankruptcy Help You Stop An Eviction? If you are facing a possible eviction from your home or apartment then filing for bankruptcy can stop the eviction process in most circumstances and provide you with some additional time. When you file for bankruptcy the automatic stay begins which stops most judicial proceedings [...]
Does My Husband/Wife Have to File Bankruptcy with Me?
Filed under: Asset Protection, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Divorce, Marriage, Uncategorized
Once of the biggest concerns for married couples is: Does my spouse have to file bankruptcy with me? Do we have to file bankruptcy together? The answer is: No there is no requirement that married couples file bankruptcy together. Your wife or husband can file bankruptcy individually. Whether it is advisable that you file for [...]
Can You Eliminate a Tax Lien in Bankruptcy?
Filed under: Asset Protection, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Non-Dischargeable, Taxes, Uncategorized
Not being able to pay federal or state income taxes can lead the IRS or the state to place a tax lien on your real property and personal property. Filing for bankruptcy can help in many situations resolve the issues and consequences that can result from having a tax lien placed on your personal or [...]
Should I Modify My Home Loan Before or After Filing for Bankruptcy?
Filed under: Chapter 7 Bankruptcy, Foreclosure, Mortgages, Uncategorized
When filing for Chapter 7 bankruptcy, one of the common questions I run across with clients is whether they should complete a loan modification prior to filing for bankruptcy or after. The answer to this question depends on your particular factual situation and whether completing a loan modification prior to filing for Chapter 7 bankruptcy, [...]
Using Chapter 13 Bankruptcy to Repay Your Student Loans
Filed under: Chapter 13 Bankruptcy, Non-Dischargeable, Student Loans
Student loan repayments can be overwhelming, especially when the monthly payment looks more like a mortgage payment. Many people who are graduating from school are finding themselves with huge student loans, and in jobs that do not offer enough income to meet their necessities and also cover the monthly student loan payments. Although there are [...]
Author
Norma Duenas, Esq.
