Pay your back taxes through Chapter 13.
Learn more about how Chapter 13 Bankruptcy can help you.
Do you owe thousands in back taxes? If you are worried about what the IRS can do to you, it’s time to get your tax debt under control. The good news is you can file Chapter 13 if you owe back taxes. You can consolidate your tax debt along with your other bills. In fact, you can often pay the IRS much less than the full amount you owe them if your tax debt is more than a few years old.
Maybe the IRS expects you to pay large monthly payments on your tax debt. Perhaps they even take your current tax refunds because you still owe them from years ago. Either way, Chapter 13 fixes these problems. It gives you the opportunity to set a payment with the IRS based on what you can afford.
Do you owe back property taxes on your house? Many people don’t realize that your home can be sold in foreclosure if you don’t pay your property taxes on time. In Kentucky, the laws allow those past-due property tax bills to be sold to third parties. These people or companies that buy property tax debt can then foreclose on your home. The problem is they often charge large fees and your tax debt continues to gain interest.
If you owe back property taxes on your house, don’t wait until it gets to that point. File Chapter 13 now and get your property taxes back on track. This gives you the chance to make small monthly payments on your old property taxes. Most companies who buy property tax debt expect you to pay the entire balance all at one time. Chapter 13 forces them to accept monthly payments so you can keep your home with a more affordable payment.
Don’t let your tax debt keep you up at night. It’s time to get your finances back on track. Bauman Bankruptcy Law will help you decide if Bankruptcy is right for you. We have 2 convenient office locations in Louisville. Call us today or click on the link above to schedule a phone call with Jason.