What Happens To Your Taxes When You File Bankruptcy?

Those that want to protect valuable property or earn a significant income will want to file for chapter 13 bankruptcy as opposed to chapter 7 bankruptcy which would wipe out qualifying debt in four to six months without repayment to creditors. Chapter 13 in exchange for debt relief, filers will pay their discretionary income to their creditors over the course of a three-to-five-year period.

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Chapters:
0:00 – Intro
0:30 – Secured Claim
1:00 – General Priority Claim
1:25 – General Unsecured Claim
1:52 – What Needs to Be Paid
2:55 – Examples
3:05 – Secured Claim Example
4:45 – Priority Claim Example

Dan Staeven is an attorney practicing in Maryland, D.C., and The Commonwealth of Virginia. In this new series, “Let’s Talk Bankruptcy”, Dan will discuss the various issues, controversy, and little-known facts of filing for bankruptcy.

About Frost Law:
Frost Law is comprised of skilled tax attorneys, business attorneys, litigation attorneys, estates attorneys, Certified Public Accountants, Certified Financial Planners, and other tax professionals. We have been serving clients across the country and abroad.

We have office locations on the East Coast in Maryland, Virginia, Washington, D.C., Pennsylvania, Florida and serve clients internationally.

DISCLAIMER: This video is not legal, tax, or financial advice. Talk with a professional about your situation before making any legal or financial decisions. These videos also do not create attorney-client privilege.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Daniel A. Staeven is only licensed to practice law in Maryland, Virginia, and the District of Columbia.

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