Monday, April 23, 2012

Taxes & Filing for Bankruptcy

“Does Filing Tax Returns Relate to Filing for Bankruptcy?”

You must have filed all tax returns you were supposed to file for the last 4 years before the filing of the Chapter 7 bankruptcy case.  For a Chapter 13 case, you should file all tax returns which were required to be filed for the past 4 years.  However, in the case of an emergency filing of a Chapter 13 case, such as to halt a foreclosure sale, you may file the bankruptcy first.  Then, quickly file any required tax returns so the bankruptcy case may be confirmed.

 



Wednesday, April 18, 2012

Listing Creditors When Filing for Bankruptcy

“Must I List All My Creditors if I File for Bankruptcy?”

When you file for bankruptcy you are required to list all of your creditors on the the bankruptcy schedule.  This includes debts you owe to family members and friends and debts that you wish to repay such as mortgage loans and vehicle loans.  Once ais completed and a discharge order achieved, you may repay a discharged debt bankruptcy if you choose to.