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Question
I AM IN ILL.AND HAVE BEEN IN CHAP.13 FOR TWO YRS.1 YR. LEFT AND MY CHAP DOSENT ALLOW ENOUGH MONEY TO PAY PROP.TAXES THIS YR. AM 1 YR. LATE WHAT DO I DO
Hello Erik:
Is the house/escrow listed in the chapter 13? If so, you can seek an adjustment to include this debt and possibly extend the payments.
If the house is not listed in the bankruptcy, you can still seek a modification by saying your living situation/debt has changed. They may lower the amounts and/or extend the payments to allow you to make the tax payments.
You other option is to negotiate directly with the taxing authority if you have the ability to pay them on a payment plan. This is the least attractive option. If the house/escrow is included in the bankruptcy, you do not want to appear to be skirting that plan. you may even be required to notify the court. If it is not included, the idea of the bankruptcy is to make affordable monthly payments for you so you emerge free and clear with a fresh start. This is why contacting the court may be the answer.
Good luck, I hope this helps.
Regan
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Answers by Expert:
Regan Shinski
Expertise
I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit reporting.
Experience
Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and collection agencies and won cash settlements for their false reporting on my credit reports.
Since then, I have completely recovered and have nearly $100,000 in revolving credit lines and perfect credit. I have owned a credit repair company for the past five years and have an additional three years of specific work in the collections and debt management industry.
I am fully versed in the Fair Debt Collection Practices Acts (FDCPA), Fair Credit Reporting Act (FCRA), and have used them successfully in collection settlements and lawsuits for myself and others. I am also familiar with and abide by the Credit Repair Organizations Act (CROA).
I have deleted or helped delete literally hundreds and hundreds of derogatory items from consumers' credit reports and helped negotiate many settlements with collection agencies and creditors. I have also advised people on bankruptcy at any stage.
In the current credit market, I have successfully advised numerous people on how to obtain credit and how to negotiate for better terms.
Education/Credentials
BA - University of Minnesota
Past/Present Clients
(private)
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