QUESTION
What can be wiped clear from my records if I file bankruptcy?
Asked on Mar 24th, 2013 on Bankruptcy - South Carolina
More details to this question:
I owe state and federal income taxes, interest is killing me. I need to stop the bleeding. I have some medical bills, over drawn bank account, a couple of charge offs. Mostly medical bills. I just get barraged with phone calls and interest. Can I get my record wiped clean?
14 ANSWERS
Bankruptcy Attorney serving Hampton, VA
at
Haven Law Group, P.C.
Update Your Profile
All of the examples that you listed are dischargeable except for the taxes. And those are dischargeable if you filed them and if they are older than 3 years old. So yes, you definitely should consider filing bankruptcy.
Answered on Mar 26th, 2013 at 2:42 PM
Commercial Bankruptcy Attorney serving Davie, FL
at
Law Office of Jeffrey Solomon
Update Your Profile
Generally you can discharge all of your unsecured debts. As to IRS, some old taxes can be eliminated in bankruptcy. You need to consult an attorney to see if and when you can eliminate the taxes.
Answered on Mar 26th, 2013 at 2:42 PM
2 Awards
Medical bills and credit card debt are dischargeable. In general, taxes are not. I recommend having an attorney do a tax analysis for you to determine if those are dischargeable and if not, whether filing a chapter 13 bankruptcy will help stop the interest and penalties and get the taxes paid.
Answered on Mar 26th, 2013 at 2:30 AM
Medical bills, charge offs and overdrawn bank accounts are easily discharged in bankruptcy, although be sure that you no longer have any funds in the overdrawn account. Whether your income tax obligations can be discharged will depend on what years you owe, whether the returns were timely filed or, if filed late, how late, whether there has been a recent assessment, etc. This can be discussed with a competent bankruptcy attorney.
Answered on Mar 25th, 2013 at 3:22 PM
Bankruptcy Attorney serving Phoenix, AZ
at
Law Office of D. L. Drain, P.A.
Update Your Profile
Bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.
Answered on Mar 25th, 2013 at 3:22 PM
Bankruptcy Attorney serving Plantation, FL
at
Moffa & Breuer, PLLC
Update Your Profile
The answer can be complicated. I suggest that you consult with a bankruptcy attorney. Most student debts are not dischargeable, but there are numerous other exceptions.
Answered on Mar 25th, 2013 at 3:21 PM
Estate Planning Attorney serving Wilmington, DE
at
Reger Rizzo & Darnall, LLP
Update Your Profile
State and federal taxes are not dischargeable. Just about everything else is except student loans and any secured debt.
Answered on Mar 25th, 2013 at 3:21 PM
Glen Edward Ashman
I'm not sure what you mean by "wiped clean." Assuming you qualify, a bankruptcy will likely eliminate all or most of your debt (except taxes - only certain taxes will be eliminated). See a lawyer ASAP. The trip may save you money.
Answered on Mar 25th, 2013 at 3:20 PM
Bankruptcy Attorney serving Alpena, MI
at
Carl C. Silver Attorney at Law
Update Your Profile
Yes you can wipe out the bills. As to the taxes, however, they can only be discharged if it has been more than 3 years since the tax returns in question were due and the tax returns were filed on time.
Answered on Mar 25th, 2013 at 3:20 PM
Business Attorney serving North Andover, MA
at
Law Offices of Andrew D. Myers
Update Your Profile
If you are eligible for a chapter 7 bankruptcy under the 'means test' then unsecured debt will be discharged if the case is filed properly and there are no objections during the 60 day period after the creditors meeting. Certain older income taxes are in fact discharged, depending on the circumstances. The medical bills and credit card accounts are discharged.
Answered on Mar 25th, 2013 at 3:20 PM
Bankruptcy Law Attorney serving Livingston, NJ
Partner at
Law Office of Stuart M. Nachbar, P.C.
2 Awards
The taxes will probably not be discharged, but the rest yes.
Answered on Mar 25th, 2013 at 3:19 PM
Deborah F. Bowinski
Whether your tax debt can be discharged in a bankruptcy depends upon what years the tax debt is from and when the tax returns were filed. Medical debts and other ordinary consumer debts should be dischargeable. You should consult with an attorney to evaluate your situation.
Answered on Mar 25th, 2013 at 3:19 PM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
Update Your Profile
The devil is in the details, see a bankruptcy attorney.
Answered on Mar 25th, 2013 at 3:19 PM
Bankruptcy Attorney serving Charleston, SC
at
Davis Law Firm
Update Your Profile
It is possible to discharge taxes in many situations if you file a bankruptcy. Not all taxes are dischargeable and a knowledgeable person needs to advise you on this issue. If you are not actually paying the interest, how is that affecting you. Getting a discharge from the credit cards is usually not a problem. You need to meet with an attorney who can assess when or if you can file a bankruptcy and discharge the taxes as well as other debts.
Answered on Mar 25th, 2013 at 3:18 PM