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AFAIK, Chapter 7 won't discharge taxes owed, and liens will survive if you keep the asset. So Chapter 7 will only solve the problem if you sell the home. It does have the advantage of getting rid of the OP's "ticking time bomb" though.

jldugger
– jldugger

2011-09-22 15:23:34 +00:00
Commented Sep 22, 2011 at 15:23
Real estate taxes can in certain cases be discharged in Chapter 7, but the rules are a bit tricky. To be dischargeable, the tax would have been due and payable without penalty over a year prior to the filing date. But please double-check!

Tony the Pony
– Tony the Pony

2011-09-22 20:07:51 +00:00
Commented Sep 22, 2011 at 20:07
@jldugger That's going to depend on the locality -- the bankruptcy attorney can help with those issues. The thing the has to be reconciled is the stress/trauma of impending doom worse than the trauma of moving.

duffbeer703
– duffbeer703

2011-09-22 21:28:55 +00:00
Commented Sep 22, 2011 at 21:28

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