1. Tax Refunds may be lost if refunds are so large that they cannot be covered by federal exemption laws or the bankruptcy petition is filed at the wrong time. Protecting your tax refund can be accomplished with the right pre-bankruptcy planning.
2. Taxes (contrary to popular belief) can be discharged in bankruptcy if they are older than 3 years old. There are lots of different technical rules relating to discharging taxes but the most important thing to remember is that they can in fact be discharged in certain circumstances if they are older than 3 years old.
3. Failure to list creditors on your bankruptcy petition will result in a creditor not been discharged.
4. Failure to appear at your meeting of creditors with a photo id and social security card will result in your bankruptcy case been closed without a discharge.
5. Failure to take the second credit counseling course after the meeting of creditors will result in your bankruptcy case been closed without a discharge.
Dunne Law Offices, P.C.
1500 JFK Blvd, Two Penn Center, Suite 200
Philadelphia, PA 19102