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Also keep in mind that liens are not released until the liability is paid in full regardless of the amount was dissolved by the bankruptcy. If you file Offer In Compromise, then any equity you have in property will be your offer amount. Liens: Once these requirements are met, a lien is created for the amount of your tax debt. By filing notice of this lien, your creditors are publicly notified that we have a claim against all your property, including property you acquire after the lien is filed. This notice is used by courts to establish priority in certain situations, such as bankruptcy proceedings or sales of real estate. The lien attaches to all your property (such as your house or car) and to all your rights to property (such as your accounts receivable, if you are a business). Caution! Once a lien is filed, your credit rating may be harmed. You may not be able to get a loan to buy a house or a car, get a new credit card, or sign a lease. Therefore it is important that you work to resolve your tax liability as quickly as possible, before lien filing becomes necessary. Yes. But you are much better off to look at other options, including something oficially caled "an offer in compromise". Bankruptcy involves everything you owe and everything you own...not just tax. The above are, well simply wrong: Once a BK is filed, by law, no offers in compromise can be considered. The IRS will not communicate with you about the debt or an offer in compromise any longer.....IT IS AGAINST THE LAW FOR THEM TO DO SO.....it is considered trying to collect a debt, all actions for which MUST be stopped upon a BK filing. The tax due becomes part of the BK and the IRS or other auhtorities, will file claims with the court and these debts will be handled as part of the BK, and are given a priority over many others.

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Q: If a tax debt is owed to the IRS can filing bankruptcy settle this debt even with a lien?
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Can someone add a debt onto their bankruptcy even though the debt occurred after they had filed for Chapter 7?

No, this is considered a post-petition debt. It would not be covered by the bankruptcy, you would legally owe this debt. Bankruptcy only covers charges up to the filing date. Not the meeting date,not the discharge date and not the closing date.


Can you charge on a credit card that is in your bankruptcy AFTER actually filing bankruptcy?

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What is a notice of bankruptcy and stay?

When a bankruptcy is filed, an "automatic stay" takes effect, essentially a prohibition against any collection action by a creditor without the court's permission. This occurs even if the creditor has no immediate notice of the filing. Any collection action taken after the filing must be undone by the creditor.If there is a proceeding in a civil court to collect the debt, the appropriate action for the debtor is to notify the court of the filing, giving the name and address of the bankruptcy court, the date of filing and the docket number of the case in the bankruptcy court. This is often called a "suggestion of bankruptcy" or notice of bankruptcy."


Can I get debt relief as an individual, or is that only used on a corporate scale?

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Is your spouse's info needed to file for bankruptcy if you are separated?

Not if you are TRULY separated and filing only for yourself. Even at that - the bankruptcy referee would probably want to look carefully at her debt qcquisition while the marriage was functional, just to make sure that the estranged wife did not materially add to the bankrupt debt.


Does filing bankruptcy improve a credit score if there were a lot of charged off credit cards and late payments prior to filing?

No, just the opposite. Bankruptcy is the ultimate "train wreck" of a person's financial standing. Even after the ten year SOL there will be a public record, and the consumer will still be penalized for it. Bankruptcy, is not, as some are led to believe, the magic cure for debt problems.


Can you settle a charge off with the finance company?

yes Whether a debt is "charged off" or even discharged by a bankruptcy court, the debtor has the option of repaying the debt anyway. This is how many business reorganize their finances. The file for bankruptcy, have debt discharged but negotiate with the creditors after the bankruptcy to pay down the amount(s). That way the company can stay in business and also keep it's credit rating up.


If you are not listed as creditor on your tenant's bankruptcy and the debt occurred after the bankruptcy was filed can you proceed with an eviction until you are notified of the bankruptcy filing?

Yes, if the debt/contract has not been included in the bankruptcy filing, a landlord may proceed with eviction process unless or until notified by the court to do otherwise. It would be advisable for the involved party to be certain that state laws pertaining to the action are properly followed. Actually the answer is likely no. Once a bankruptcy is filed, any and all collection activities must cease, whether you were listed on the scheudles or not. Because you note the tenant filed for bankruptcy, you are aware of it even if you didn't get official notice. But the real question is the date of the debt. Like most rental agreements, the agreement is for an annual lease payable in monthly installments. So if the contract was signed prior to the filing, then the debt would be included. If the contract was signed after the filing, then it is not part of the bankruptcy. There are special provisions regarding residential leases and landlords. It would be advisable for you to invistigate them or contact an attorney. It is possible to evict a tenant even with a bankruptcy filing as evictions are not always considered a collection acitivity. But again, there are special rules regarding this situation. You may not be able to evict for a set time period, but then would be permitted to do so later.


When filing for bankruptcy and owing to a line of credit does the bank still keep the house even if this one is protected with a homestead insurance?

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After bankruptcy are you still liable for old debts?

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What is a Reaffirmation agreement in chapter 7 bankruptcy?

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We are in bankruptcy. Do we have to pay our income taxes that we owe from 2008 or can they be entered into the bankruptcy debt?

Unfortunately, you will have to pay your income taxes from 2008, even after your bankruptcy is finalized. Federal law prohibits income tax debt from being discharged, so you will still owe, but you may find that they stop attempting collection until after your bankruptcy case is complete. You may want to ask your bankruptcy lawyer if he has tax experience so that he can act as your tax lawyer in dealing with the IRS to settle the debts you owe them as well.