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Bankruptcy Washington DC

It’s not easy to file for bankruptcy. Bankruptcy is a complicated matter and if it’s your only alternative then it’s best to find a good bankruptcy lawyer that can help you understand bankruptcy and taxes. You also need to figure out which bankruptcy you are eligible for and is best for you to file. The most common bankruptcies for individuals are chapter 7 bankruptcy (liquidation) and chapter 13 bankruptcy (restoration). Your bankruptcy lawyer can explain how to handle tax debts such as tax liens and also how to repay non dischargeable debt and take advantage of the automatic stay. Please scroll down for more information and get access to the best bankruptcy lawyers in Washington, DC listed below.

Edward C Dolan
(202) 637-5677
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Bankruptcy, Debt Collection, Debt Agreements
Education
Georgetown University Law Center,Columbia University
State Licensing
DC, Maryland

James E Croker Jr
(202) 756-3309
950 F ST NW
WASHINGTON, DC
Specialties
Bankruptcy, Tax, Financial Markets And Services
Education
University of Maryland, College Park,University of Virginia
State Licensing
DC

Howard J Rosenstock
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Real Estate, Bankruptcy, Debt Collection, Business, Financial Markets And Services
Education
Georgetown University Law Center,University of Maryland, College Park
State Licensing
DC

Kristen E Burgers
(703) 760-1609
575 7TH ST NW
WASHINGTON, DC
Specialties
Bankruptcy, Debt Collection
Education
George Mason University School of Law,Randolph-Macon Woman's College
State Licensing
DC

John M Wingate
1275 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Energy, Environmental, Corporate, Business, Bankruptcy
Education
George Mason University School of Law,Miami University of Ohio,Ohio University
State Licensing
DC

Ari David Kunofsky
(202) 353-9187
555 4th St., Nw, Jcb, Suite 6112
Washington, DC
Specialties
Bankruptcy, Debt Collection, Business, Employment, Administrative Law, Litigation
Education
University of Texas
State Licensing
Texas

George E Covucci
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Real Estate, Tax, Estate Planning, Bankruptcy
Education
Georgetown University Law Center,City College of New York
State Licensing
DC

Edward B Parks II
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Litigation, Insurance, Bankruptcy, Debt Collection
Education
University of Virginia School of Law,Marymount University
State Licensing
DC

Merry C Anderson
(202) 637-5871
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Bankruptcy, Debt Collection, Business, Financial Markets And Services, Tax
Education
Stanford Law School,Harvard University
State Licensing
DC

Jeffrey Bromme
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Litigation, Bankruptcy, Environmental, Defective & Dangerous Products
Education
University of Texas School of Law,Southwestern Adventist College
State Licensing
DC

Bankruptcy

Will Bankruptcy Stop Tax Liens?

Tax liens are a brutal tactic used by tax agencies to collect past taxes. In this article, we cover the question of will bankruptcy stop tax liens?

Bankruptcy is the do over tactic for many Americans. They get up to their eyeballs in debt, often credit card debt, and seek to wipe the slate clean. This used to be a fairly simple process, but bankruptcy laws have been tightened up over the years. It is no longer a piece of cake to just walk away from your debts. Bummer, eh?

Tax liens are used by tax agencies to secure a claim for past taxes. The most common tactic is place tax liens on real property, to wit, homes. The tax lien, however, only applies to the equity on the property. It does not jump in front of the mortgage or other liens already on the property. Let's look at an example.

Assume you own a home worth $300,000. Assume further that you have a $450,000 mortgage on it. Now throw in the fact the IRS claims you owe $60,000 in back taxes. If the agency files a tax lien against you, it can only attach the $50,000 in equity you have. In short, the tax lien will be secured in the amount of $50,000 and unsecured in the amount of $10,000. If the home is sold, the mortgage is paid off and the IRS gets $50,000. You still owe it $10,000.

So, will bankruptcy stop tax liens? This is a common thought for many people in trouble with the IRS. The answer is dependent on the specifics of your case. Of course, you don't want to hear that, so let's talk generalities. In general, the portion of the tax lien that is not secured may be discharged in bankruptcy.

Will bankruptcy stop tax liens in our previous example? In general, it will stop part of the lien. The $50,000 secured portion of the tax lien would survive bankruptcy. The $10,000 unsecured portion will not. Regardless, you still lose the house!

There is a huge caveat when considering if bankruptcy will stop tax liens. Bankruptcy is a federal law, but it is interpreted in ...

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