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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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Hi. Im contemplating filing chapter7 bankruptcy to eliminate

Resolved Question:

Hi. I'm contemplating filing chapter7 bankruptcy to eliminate $55k + irs debt, plus addt'l 40k debt. I filed chapter bankruptcy in 2002. This is nightmare, but IRS has been implacable. I plan to make offer-in-compromise, but have little hope of success. Continue to be unemployed (7 mo.), & no assets, save for an unsuccessful travel agency. Am over 50 yrs old.

What challenges do I face in second chapter 7 attempt? Thank you.
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 6 years ago.
Hi JACustomer,
1) When was the prior Chapter 7 discharged?
2) What type of tax(es) do you owe?
3) For what tax years are the taxes owed?
Customer: replied 6 years ago.
Discharged: June,2003
Back-Federal Income Taxes for 2002/2004/2005/2007 plus penalties,etc.
I face a lien/levy within a month's time if I don't arrange payment plan. That is not an option, so I'll make offer, & failing that, seek bankruptcy relief. Thanks.
Expert:  cfortunato replied 6 years ago.

You can file another Chapter 7 Bankruptcy right away, as it has been 8 years since your last Chapter 7 Bankruptcy.

You should be able to have the income taxes for those years discharged, as they are for tax years that are more than 3 years ago.

If you are unemployed, your income would be below the state median, thereby qualifying you to file.

In summary, I do not see any challenges to your filing another Chapter 7 Bankruptcy.


I think this is what you wanted to know. If not, please let me know.

Thank you!

cfortunato and 2 other Bankruptcy Law Specialists are ready to help you