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Does Chapter 7 Bankruptcy discharge past state income tax debt?
Wiki User
∙ 13y ago
dont buy as many condoms, and you wont become bankrupt.
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∙ 13y ago
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Can you file income tax on your bankruptcy?
State Income Tax Claims, Federal Tax Claims, and Real Estate Taxes must be included in a bankruptcy filing. Income tax claims that are less than three years old will usually be consolidated with other debts and paid over three to five years in a Chapter 13. Depending upon income and assets, income tax claims for returns that were filed more than three years before the bankruptcy can sometimes be reduced substantially in a Chapter 13 and eliminated completely in a Chapter 7.The discharge of the debt in a bankruptcy, can actually cause taxable income for the year it is discharged if not handled proerly. You will get a 1099-C for most matters concering it.
What is the means test to file bankruptcy?
One of the first steps you must take when filing for bankruptcy is to complete a "means" test. You must submit the results of this means test to the Bankruptcy Court. The means test checks your income in order to determine your eligibility to file for bankruptcy. If your income is below the average for your state, then you can file for Chapter 7 bankruptcy without any problems. However, if your income is above the state average, the calculations for the means test become more complex. The means test looks at your disposable income (the amount left over after paying your expenses). If your disposable income is too high, the Bankruptcy court may decide that you can pay off at least some of your debts, and prevent you from filing for Chapter 7 bankruptcy. You are still able to file Chapter 13 bankruptcy, however.
What were the chapter 7 bankruptcy laws in 2001?
Bankruptcy laws changed dramatically in 2005 and make it considerably harder for people to file chapter 7 bankruptcy, those people who do not qualify for chapter 7 are left with the option of chapter 7. Some of the major changes with chapter 7 are:In a Chapter 7 bankruptcy, the income of the person filing will be subject to a two-part test. First, your income will be calculated with exemptions such as rent and food to determine whether you can afford to pay 25 percent of your unsecured debt such as your credit card bills. Second, your income will be compared to your state's median (middle) income.You won't be allowed to file for Chapter 7 if your income is above your state's median income and you can afford to pay 25 percent of your unsecured debt. Even if your income is below the state's median income and you can pay 25 percent of your unsecured debt, the court may still deny your Chapter 7 filing. There will be very few exceptions to this test, no matter how sympathetic your case is.
How long after filing a chapter 7 can you file a chapter 13 in Washington state?
Bankruptcy is a FEDERAL law handled in a FEDERAL court...your State makes no difference. Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago. The above notes discharge dates.
How long do you have to wait to file a Chapter 13 after being discharged from Chapter 7 in Kentucky?
Bankruptcy is Federal matter. Your State is of no consequence. Under the new bankruptcy law taking effect on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.
What is chapter 13 about?
Chapter 13 bankruptcy is for individuals who have some steady income, in general. An excellent primer about either chapter 7 or 13 bankruptcy is "The New Bankruptcy, will it work for You?" 3rd edition by Stephen Elias, published in 2009 by Nolo; 346.078 E42N Dewey decimal. Also you might contact a paralegal or lawyer specializing in filing bankruptcy in the state of jurisdiction.
When can you file bankruptcy for the 2nd time filed in 2002 or 2003 not sure?
Bankruptcy is ALWAYS a Federal case. Your State makes little difference.Under the new bankruptcy law effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.
How long do you have to wait to file chapter 13 bankruptcy in Louisiana after you filed chapter 7 bankruptcy in Arkansas a few years ago in?
Assuming the chapter 7 led to a discharge, you may be able to file chapter 13 immediately, but the automatic stay may not last long without a motion to extend it indefinitely. If the filing date of the 7 was 10 years ago, you should not have this problem. Not all bankruptcy courts have interpreted the statutes and regulations the same way, so consult a local bankruptcy lawyer. Bankruptcy is a federal procedure in most states, and is the same from state to state, more or loss.
Can you finance a car during filing of chapter 7 new york state?
Bankruptcy is a federal action in a federal court, whether in New York State or elsewhere. You cannot get a loan while in a Chapter 7. No creditor will lend to you until you have received your discharge.
Can you file bankruptcy if you are current on your bills?
Yes, you can. If you are current, but struggling with credit card debt, medical debt, or other unsecured debt. If your income is less than the median family income for your state, you can probably file chapter 7. If over that amount, you may have to file a chapter 13. Consult an experienced bankruptcy lawyer in your area.
When can file a chapter 7 again after the first discharge in the state of georgea?
Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago. The above notes discharge dates. There are methods to convert an active Chap 13 to a 7.
You filed chapter 7 in California 6 years ago how long do you have to wait to refile in WA state?
Bankruptcy is a Federal matter, your State makes no differece.Under the new bankruptcy law taking effect on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.
