Filing for Bankruptcy
While most people (and many tax professionals)
do not know how the bankruptcy laws
can help with your tax problems, perhaps the same
number really do not understand bankruptcy at all.
Tax Problem Solver, Inc. is experienced in handling
the various types of bankruptcies and using bankruptcy
to help, not hurt you.
Chapter 7 Bankruptcy
- The most common type of bankruptcy
- Debtor generally
loses all his assets (except "exempt" assets)
- Debtor generally wipes out (discharges) all
his debts (except certain "non-dischargeable" debts
)
- Still available if debtor's debts
are not "primarily" consumer
 More
Chapter 7 Bankruptcy Information
Chapter 13 Bankruptcy
- Increasing in popularity
- Debtors
generally keep their assets
- Debtors
generally pay their debts according to a "plan"
- Debtors
commit their income, in excess of necessary
living expenses, to repay all or a portion of
their debts
- Plan life is 5-8 years
- At end of plan life,
unpaid debts are discharged
- Useful for mortgage
foreclosure
- Still discharges tax debts that
would have been discharged in a 7
More
Chapter 13 Bankruptcy Information
Visit
Larry's web site devoted to Bankruptcy
 |
We know the answers
and we can help solve your tax problems!
Contact
us now to get your life back. |
|
