Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – How Chapter 13 Bankruptcy can Help You with IRS Tax Debt
If you owe tax debts that are not dischargeable in Chapter 7 Bankruptcy or Chapter 7 Bankruptcy is not a viable option, you should consider Chapter 13 Bankruptcy as a potential option for your tax debt woes. Chapter 13 Bankruptcy can force the IRS into accepting a payment plan for up to 60 months, whether the […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Should I File Chapter 7 or 13 Bankruptcy?
It depends on each client. Chapter 13 Bankruptcy can do more than a Chapter 7 Bankruptcy. Chapter 13 Bankruptcy can stop foreclosure and car repossession by putting the arrears in a payment plan up to 60 months. Chapter 13 Bankruptcy can force your creditors, especially IRS tax debts, into a payment plan up to 60 […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Debts Discharged In Bankruptcy are Not Taxable
A question asked by my clients during a bankruptcy consultation at Sacramento and Stockton, CA office is whether debts discharged in Bankruptcy are taxable? The answer is no. Why did a family member or a friend receive a 1099-C form from their creditors after receiving a discharge from Chapter 7 or 13 Bankruptcy they asked. Creditors […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Should I File my Tax Return if I cannot pay My IRS Tax Debt?
October 15, 2016 is coming up and so is the deadline for the extension for tax filing. I have several clients tell me that the reason why they did not file their tax return is because they cannot afford to pay the taxes owed. According to them, by not filing their tax return the Internal […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Sacramento CA Home Price on the Rise & Effect on Chapter 7 or 13 Bankruptcy Filing
As if the cost of housing in Sacramento California is not already high enough. In an article published in the Sacramento Bee, due to low inventory, median sale price of a home in Sacramento, El Dorado and Placer counties, CA in August 2016 was $345,000, up 11 percent from a median of $311,000 in August […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – You Just Received a Lawsuit. Do You have Time to Act?
Do not panic. You have some time (not much!) to consider your options. When you just received a notice of a lawsuit (i.e., summons and complaint), you have up to 30 days from the date that the lawsuit was served to you to file an answer to the lawsuit. If you fail to timely file an answer, your […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Will I go to Jail for not Paying my Debt?
Throughout the years as a bankruptcy attorney, I have clients asked me if they can go to jail for not paying their bills. The question arise because they either received an email or phone call by a fictitious government representative or government office telling them to pay or go to jail. Unless you owe child support […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Judgment can be Discharged in Bankruptcy
Chapter 13 or 7 Bankruptcy can discharge judgment where the underlying debt of the judgment is dischargeable. A judgment does NOT make a debt nondischargeable in bankruptcy. It is the nature of the underlying debt that makes it nondischargeable. Examples of unsecured debts that are dischargeable are credit cards, personal loan, payday loan, medical bills, deficiency from […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Free vs. Malaier: Unsecured Lien that was Discharged in Previous Chapter 7 Bankruptcy is Not Counted towards the Unsecured Debt Limit to be Eligible for Chapter 13 Bankruptcy Relief
As of April 1, 2016, the debt ceiling to be eligible for Chapter 13 Bankruptcy relief increased as follows: Secured Debt Limit is $1,184,200 Unsecured Debt Limit is $394,725 If you have debt that exceeds either one of those categories, you are ineligible for Chapter 13 Bankruptcy. Free vs. Malaier, a 2015 case decided by […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – How is Judgment Lien (aka Judicial Lien) avoided through Chapter 13 or 7 Bankruptcy?
Judgment Lien or Judicial Lien can be avoided through Chapter 13 or 7 Bankruptcy by filing a motion under 11 USC § 522(f). A judgment lien occurs when creditor recorded a judgment (judgment is received at the end of a lawsuit) in the recorder's office of the county where your house or other real estate is located. The […]