Category Archives: what can be wiped out in bankruptcy?

Bankruptcy – Wipe Out Debt Owed on Timeshares

Filing bankruptcy to wipe out debt owed on timeshares can be tricky. Eliminating the mortgage owed on a timeshare in bankruptcy is not a problem.  The problem is the maintenance fees which can be extremely high in some cases. I meet with clients all the time from Rome, Dalton, Calhoun, Dallas, Douglasville, Hiram and Cartersville […]

Bankruptcy – Can’t Incur Debt with the Intent of Discharging it

I have friends who buy into this myth that people who file bankruptcy go out and run up their credit cards right before filing.  The truth is that almost no one does this and those few that do end up paying it all back. In a Chapter 7 bankruptcy, you cannot incur debt with the […]

Bankruptcy – Chapter 13 and Chapter 7 – Can I Get Rid of Payroll Taxes?

A person cannot wipe out payroll taxes in Chapter 13 or Chapter 7.  Payroll taxes are not considered property of the business.  The business is considered to have held the payroll taxes in trust for the government.  Failure to pay payroll taxes will be treated as a nondischargeable debt. Using payroll tax money for any […]

Can I Wipe Out My Second Mortgage in a Chapter 13 Bankruptcy?

You can eliminate a second mortgage in a Chapter 13. You need to get an appraisal on your property before you file the case. Your property must be worth less than what you owe on the first mortgage in order to eliminate the second mortgage in your chapter 13.

Filing Bankruptcy- You Must Know the Value of Your House

The purpose of this blog is to give you a rough idea about why you must know the value of your house before you even think about filing bankruptcy in Georgia.  Under Georgia Law, a single person can exempt a maximum of $10,600 of equity in their house when they are filing either Chapter 13 […]

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