How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask cortrightlaw Your Own Question
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
Type Your Bankruptcy Law Question Here...
cortrightlaw is online now
A new question is answered every 9 seconds

Behind on real estate taxes (comercial rentals) bank wants

Customer Question

Behind on real estate taxes (comercial rentals) bank wants them paid now but wont lend any money for back taxes nor will any other bank for back taxes..will 13 let me keep my rentals ?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 4 years ago.

cortrightlaw : A chapter 13 will allow you to take past due rent or taxes and spread them out over a 3 to 5 year period. Chapter 13 is for individuals and if you are a business you would need to consider chapter 11. And yes you would be able to keep them if they are profitable.
JACUSTOMER-fctm5e5h- :

just in my name no bussiness name

cortrightlaw :

Then you can file a chapter 13 if you can demonstrate that you have enough money to pay your current bills, and pay the past due taxes at 100% over a 5 year period, plus a little more to your unsecured creditors if you have any.