Does bankruptcy remove sales tax debt?

Answer Contemplating filing for a commercial bankruptcy for your business include considering what specific debts will be discharged through the process. For example, if you accumulated unpaid sales tax, ... Read More »

Top Q&A For: Does bankruptcy remove sales tax debt

In Chapter 7 Bankruptcy can you use the Homestead Federal Bankruptcy Exemption to keep your 120000paid off condominium with a lien against it for an 11000credit card debt in pa?

Your right that PA has no special homestead exemption for BK and you would rely on the Federal one.The lien (the Cr Card one), is essentially the same as a first position mortgage against the prope... Read More »

Bankruptcy & Tax Debt?

Once a taxpayer files for bankruptcy protection, the process for the Internal Revenue Service to collect his tax debt is left to the bankruptcy court and not the IRS. How tax debt is treated will ... Read More »

Short Sales & Bankruptcy?

In a short sale agreement, the borrower and the lender work out a contract allowing the borrower to sell a property for less than the loan balance. A short sale is essentially designed as a foreclo... Read More »

What debt cannot be eliminated with bankruptcy?

Debts not discharged in a bankruptcy include criminal restitution, such as fines, and restitution to victims and death or injury lawsuits that occurred because of drunken driving. Lawsuits ordered ... Read More »