Bankruptcy only temporarily prevents foreclosure action. A house is considered secure property so it is up to the lender as to what action will be taken, foreclosure or reaffirmation of the loan. The bank would pursue foreclosure and not wage garnishment. If you're in a house you can't afford any longer, sell it. Too many homeowners wait too long. Don't wait for the bank to foreclose.
No, nobody can touch a child support payment. This money is designated for the child and no one else.
You have to file your income taxes yearly regardless of whether you have filed for bankruptcy or not. Yes, IRS may garnish your refunds to pay toward your debts. If your bankruptcy is over however, you don't have to worry about that.
You should consult with an attorney, but you may be able to. Declaring bankruptcy is one option. It may also be possible that they can't garnish SS income.
50% over a normal child support payment, up to 55% of gross income.
Yes, a court order can garnish retirement income for a legitimate debt.
Yes, you can file with an income coming in, which chapter of bankruptcy you file depends on your income
Determined by taking your income and subtracting expenses- anything left over is the required payment.
yes IRS will garnish 401k because they see it as a income.
Yes the IDES can and will garnish your income tax refund they did mine 2013 took 3,400.
Yes, the IRS can, and will, garnish an income tax refund if money is owed from an audit.
If you owe money and have a judgment against you, they can garnish your income.
It's your disposable income. The debtor files a statement of income and expenditures. The expenditures cannot be unreasonably high. The chapter 13 payment is the difference between the income and expenditures.
Can credit card companies that take you to civil court garnish your wages or income tax return if you lose in the lawsuit
noboby can garnish your income tax except for the government. Unless they take you to court. If they do that file chapter 7.
No. Your gross income is reported on your federal 1040 income tax return. The federal garnish amount that was paid would not be a deduction from your gross income on your income tax return.
Only holders of undischarged debt can come after assets or income after a discharged bankruptcy. Some debts may not be dischargeable in a bankruptcy, such as tax debt. The meaning of dismissed is different from discharged, however. A dismissed bankruptcy would be one that did not conclude. In that case, creditors may attempt any legal means to recover what is owed.
A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing bankruptcy.
Is VA Disability income exempt from bankruptcy income claim?
Yes....but not your federal income taxes.
You can file bankruptcy at any time you like, but I will tell you that bankruptcy court does not have the authority to drop the taxes. The IRS or State may allow a payment plan instead of allowing them to begin confiscating property. You will still have to pay the taxes due and it may be to your benefit to work out a payment plan directly with tax department and not have to pay the legal and court fees involved with the bankruptcy.
Income has little to no determination on one's ability to file for bankruptcy. It's the debt to income ratio that most bankruptcy courts look for. Consult a bankruptcy attorney; there may be other options that will not impact your credit as harshly as bankruptcy.
Direct deposit of any monies while filing for Chapter 7 bankruptcy are safe. However, under Chapter 13 bankruptcy, an automatic payment may be required to the trustee from a direct deposit of wages and other sources of income.