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Tag Archives: tax debt

Chapter 13 and Old Tax Debt

Do you have outstanding tax debt that has not been paid to the IRS? Bankruptcy can help you deal with IRS tax debt in a manageable method. Last week, we explored dealing with recent tax debt in bankruptcy (https://www.bankruptcylawpros.com/chapter-13-and-recent-tax-debt/).  Today, we can take a look at how to deal with old tax debt that is Continue Reading

Do You Need To File 2013 Taxes Before Filing for Chapter 7?

A quick reminder that you should not need to wait until your taxes are filed to file a Chapter 7 or any other type of bankruptcy. Bankruptcy is based on your history of income and expenses. The bankruptcy court will not dismiss your file or disqualify you from bankruptcy if you have not filed your Continue Reading

What is the difference between a HELOC and Purchase Money 2nd Loan?

Today we would like to help explain the difference between a HELOC and a purchase money 2nd loan as it related to bankruptcy. A HELOC or Home Equity Line of Credit, is a line of credit, similar to a credit card, that was given to you through the equity you have (or had in the Continue Reading