Some income taxes can be discharged in bankruptcy. Some can’t. It depends mostly, but not completely, on the how old the tax is. To discharge an income tax debt, that particular tax must meet all of four main conditions. So to some extent it’s easy—you’re just checking off these conditions to see that they are all met. But on another level, it’s … [Read more...]

Chapter 13 bankruptcy — the three-to-five-year “adjustment of debts” — can help you with an ex-spouse who is unhappy with you for not paying a debt in the following ways: It can discharge (legally write off forever) nonsupport “property settlement” obligations owed to your ex-spouse through your divorce decree. It can give you time to … [Read more...]

If your car or truck loan is more than two and a half years old and you owe more than it’s worth, you may be able to keep your vehicle for a lot less money. What’s a “Cramdown”? “Cramdown” is an informal term — you won’t find it in the federal Bankruptcy Code. In the context of vehicle loans, it is the procedure provided under Chapter 13 law … [Read more...]

Chapter 13 is an extraordinary legal tool for protecting you from the aggressive civil law collection methods of your ex-spouse and support enforcement agency, allowing you to catch up while under this protection. Child and Spousal Support (Alimony) Collections Texas state law allows ex-spouses and support enforcement agencies to be extremely … [Read more...]

You must pass the means test to qualify for Chapter 7 “straight bankruptcy.” Otherwise you would likely end up in the much more time-consuming and expensive Chapter 13 “adjustment of debts.” Chapter 13 is great if you need its benefits, but not if you are forced into it and would prefer the much simpler fresh financial start of Chapter 7. Our … [Read more...]

Purpose of the Means Test This test is intended to determine if you have the “means” to pay a meaningful amount of money to your creditors over a reasonable time period. As such, you have to pass the means test before you are allowed to go through a Chapter 7 “straight bankruptcy,” which generally lasts less than four months, or instead are … [Read more...]

The most favorable and flexible terms that you will get for curing your back mortgage and property tax payments is through Chapter 13 bankruptcy. Catching Up Without Bankruptcy If you fall behind in your mortgage payments and don’t have money set aside or a rich relative to help you catch up, you will have very few options for saving your home. … [Read more...]

Give yourself a fresh financial start NOT just with your debts, but also with your assets. How to How to Get the Most Out of Your Bankruptcy The focus in bankruptcy is on dealing with your debts, wiping out and getting a handle on the negative side of your balance sheet. But getting a financial fresh start means not just getting relieved of … [Read more...]

Words I hate to tell new clients: “If only you’d come to talk with me sooner.” Bankruptcy attorneys are in this area of law because we really want to help people. What makes me want to come to the office every day is the privilege of listening to people’s tough stories and then giving them good news about how I can help make their life much … [Read more...]