Usually Asked Questions Regarding Bankruptcy

Usually Asked Questions Regarding Bankruptcy

Speak with Our Oakdale Bankruptcy Attorneys to find out more

Lamey attorney, P.A. happens to be serving the residents of Oakdale for over three decades. Below, you will discover brief responses to a number of the concerns we get many. We acts throughout Pine Springs, Lake Elmo, Maplewood, Woodbury, Oak Park Heights, and much more.

To find out more, dial (651) 309-8180 to schedule a bankruptcy consultation that is free.

Am I able to be rid of IRS taxes if we file bankruptcy?

Quick response: Yes, if for example the fees as well as your situation meet up with the needs. a bankruptcy that is experienced can see whether you meet up with the skills to discharge or cancel your revenue fees in bankruptcy.

Most of the time, taxes are released in bankruptcy: (1) if they’re over 36 months old calculated from the due date for the taxation return; (2) in the event that taxation statements had been filed more than two years prior to the bankruptcy; (3) in the event that taxes weren’t evaluated within 240 times before the filing for the bankruptcy; and (4) provided that the fees aren’t owed by explanation of a “SFR” or replacement for return made by the IRS there are various other demands, such as for example that the fees can’t be caused by a taxpayer filing a false or fraudulent income tax return, additionally the taxpayer cannot have designed to evade or beat the fees.

Could I register chapter 13 bankruptcy simply to stall property property foreclosure?

Brief response: No, it is really not an effective utilization of chapter 13 bankruptcy to register an incident simply to obtain the security for the “automatic stay” with no intent to accomplish the way it is.

Some individuals file bankruptcies over and over repeatedly (several or “serial” filers) to stop foreclosures on repeatedly their house. It’s not only incorrect to take action, nonetheless it causes plenty of unneeded expense that is legal the home loan organizations which can be foreclosing, and also a large amount of unneeded trouble and expense towards the court system. The bankruptcy court can discipline individuals or their lawyers through contempt of court or any other method for filing bankruptcies that are multiple the intent to create them work.

Can my Homeowner’s Association foreclose to my Minnesota home for unpaid HOA dues?

Brief Response: Yes.

Homeowner’s associations in Minnesota can foreclose in your house for unpaid HOA dues.

Do not lose your property to property property foreclosure! In the event that you qualify, it may possibly be feasible for you to definitely register a chapter 13 bankruptcy to get rid of the property foreclosure and enable you to definitely get caught up your delinquent HOA dues, and perhaps also cope with your other debts, in a fashion that you’ll manage. Phone our workplace at (651) 309-8180 to prepare very first consultation that is complimentary certainly one of our solicitors.

Could you be arrested for maybe maybe perhaps not having to pay education loan?

Brief response: No. You can’t be arrested for maybe perhaps perhaps not spending a learning education loan.

But then are ordered by a court to answer questions about your finances and refuse to do so, then yes, you can be arrested and jailed – not for not paying your student loan, but for violating the court’s order if you are sued for a student loan and have a judgment granted against you, and.

Lesson: if you’re taking part in a court proceeding, constantly conform to court instructions. Or you might get arrested and jailed.

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