First, it depends on what chapter bankruptcy they are filing. If they are filing Chapter 7, which is a complete disolvement of the debts, and your debt is placed within the filing as a debt, you have the opportunity to file an objection to the release or discharge of your debt. If it is NOT placed within this filing, they are not protected from your debt and you can still collect on it. Personally, if it was me, if my debt was NOT listed on the bankruptcy petition, I would remain quiet about it and let the bankrtupcy go through to discharge and then begin collection. Because if you continue to collect this debt that is not on the bankruptcy petition, all they have to do is ammend this petition to include your debt and then they would have protection from your debt and it has been my experience, personal debts are usually discharged, despite objections from the one that is owed. And once the bankruptcy filing is complete, they cannot file again for another 7 years, so when you begin your collection, they have no other recourse but pay you.
If it is Chapter 13, a reorganization of debts, and your debt is not included, I would make sure it was included by pressuring him for payment and hopefully, they will ammend their petition to include your debt. By doing this, they are put on the payment list and you should receive some sort of payment through the courts, as they make payments to the court and the court distributes monies to the debts.
Sure.
But understand, that regardless of those maybe saying otherwise, who generally have an interest in your doing so, bankruptcy does not automatically make your life better...or simply eliminate all your debts....it is an action to be taken when there is no alternative because the situation is hopeless.
Why would anyone possibly want to do so? BK is a very, very bad thing. You do not pick an chose what is included...and everything...verything you own and owe, is involved. You don't just discharge debt...your assets are used to pay off debt, and if your insolvent (more debt than assets), some excess may be discharged.
How can I stop a banbkruptcy on a small claim judgement? What are all non-dischargable debts? Can A minor file small claim? Please read and adhere to the terms of service in order to get the fasyest and best response. Only a single question may be asked for each post, although you may have several posts at any time.
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.
If you are talking about a Chapter 7 bankruptcy, It takes 7 to 9 years after you can file bankruptcy again.
You have to file the appropriate reports.
You can file your taxes online at turbotax.com and get free tax help via chat and forums if you need it. This is how I file my taxes every year and I have never had a problem.
My son didn't file taxes last year 2011. is he still able to claim any of his 2011 taxes along with his 2012 taxes in 2013?
yes. Unemployment Insurance is filed with your state, when you become unemployed. Taxes are filed based on calendar years.
If the mortgage is in both names, or if there is significant joint debt, you are better off filing bankruptcy jointly before the divorce is final. If the mortgage company forgives the balance, it will count as income to you and you will have to pay taxes on it in the following year, unless you file bankruptcy. Or the mortgage company can sue on the deficiency and get a judgment good for 10 or 20 years. Unless you file bankruptcy.
Federal income taxes due in an amount certain 3 years or more before the bankruptcy filing date can be discharged along with other dischargeable debts. You cannot just file to discharge the taxes, unless you have no other unsecured debt.
Generally, if you want the debt to be included in your bankruptcy determination, it needs to be listed. Failure to do so will possibly result in the debt not being removed or reduced per the bankruptcy judge's determination. In that case, you will still owe the funds regardless of what your bankruptcy order says.
No, if you made anything less than $600.00 in one year then you do not need to pay taxes on that income. However, you should still file your taxes for that year.
If you got unemployment in 2012 you do have to file taxes if you didn't have the taxes taken out of the unemployment you received.
Around 130 Million people file taxes each year Thanks