QUESTION
Can I file chapter 13 to stop tax sale on my home?
Asked on Aug 06th, 2017 on Bankruptcy - New York
6 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
at
Ronald K. Nims
Update Your Profile
Yes, a Chapter 13 will stop the tax sale of your home. It will also give you up to five years to pay off the tax debt.
Answered on Aug 07th, 2017 at 8:50 PM
Many people chose Chapter 13 for just that reason. You will need to pay the ongoing tax debt every year and pay off the past due tax debt over the next 5 years.
Answered on Aug 07th, 2017 at 8:50 PM
Yes, if filed before the sale. Also, you need to meet the Chapter 13 qualifications.
Answered on Aug 07th, 2017 at 8:49 PM
Bankruptcy Attorney serving Alpena, MI
at
Carl C. Silver Attorney at Law
Update Your Profile
You sure can but you would probably want to file a chapter 13 where you can pretty much set your own terms to pay taxes back over 3 to 5 years.
Answered on Aug 06th, 2017 at 8:50 PM
Yes that is what it is designed for.
Answered on Aug 06th, 2017 at 8:49 PM
Any ethical bankruptcy lawyer will tell you that there is a good faith requirement for a chapter 13 filing. It cannot be filed for the sole purpose of delaying a creditor's legal right to foreclose; you must have a regular source of income sufficient to cure the tax debt on your home within 3 to 5 years. Or, you could have reasonable plans to sell the home for an amount sufficient to pay all your debts, if you have other debt.
Answered on Aug 06th, 2017 at 8:49 PM