Tax Bankruptcy Lawyer The Woodlands Sealy Humble

Bankruptcy FAQs 2

Bankruptcy Questions:

3. Does my income affect my ability to file bankruptcy?

Higher income individuals may not be eligible to file a Chapter 7 bankruptcy. The law requires a Means Test to be applied and if the income exceeds the amounts prescribed, you may not be eligible to file a Chapter 7. However, you would be eligible to file a Chapter 13 bankruptcy.

4. Can all debts be discharged in a bankruptcy?

There are certain debts that cannot be discharged in a bankruptcy. Student loans cannot be discharged without a separate determination of hardship. Debts due to fraud or misrepresentation are also not subject to a discharge. Although these are the most common, there are other debts such as child support, certain taxes, court ordered restitution and other debts that cannot be discharged.

Tax Questions page 1, page 2 - Bankruptcy Questions page 1, page 2

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	©2011 Harlan H. Guettermann, PC. This law firm is a debt relief agency. We help people file for relief under the bankruptcy code. Harlan Guetterman assists businesses and individuals with credit card debts, tax problems, foreclosure, IRS Offers, Offer in Compromise. tax discharge, tax fraud and tax payment cases, Chapter 7 and Chapter 13 bankruptcy, taxes in bankruptcy itself, Internal Revenue Service tax audits, Tax Court, and tax collection actions.
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