Consumer Bankruptcy

[kkotrous]

What is the name of your state (only U.S. law)? WA

We are considering Chapter 7 Bankruptcy, due to prolonged job loss. My husband and I were both downsized, and have had difficulty finding employment at even half of our previous incomes.

We have no equity in our home and are current on payments.

We have two cars with no equity and are current on payments.

We have a boat that we are current on the payments with possibly $2500 equity in todays market.

We have no other assets at this time.

The bankruptcy is primarily to be relieved of past income taxes (that pass the 5 rule test).

My questions are:

1. Will we be able to keep the cars and boat if we reaffirm?

2. We have property taxes that are two years behind, can they be discharged through the bankruptcy? I realize that the lien will not go away, and we do intend to pay them when we get back on our feet.

I am going to consult and retain an attorney, but am trying to do some research prior.

Thank you very much.

 

[ecmst12]

If you can't get a job at your previous income, what the hell business do you have with a boat anyway? Sell the boat and use the equity, and additional money in your budget every month, to pay off the back taxes. I am pretty sure that taxes are not dischargeable.

 

[Gregeney]

1. Yes, if you can show that you can afford them after normal living expenses.

2. No. Property taxes cannot be discharged.