In 2022, the United 状态s recorded 370,685 personal bankruptcy filings. 每十个家庭中就有一个在某个时候申请破产, the impact of job losses, 减少收入, and the recession caused by the coronavirus in 2020 may contribute to an increase in these numbers if the economic recovery does not become swift and widespread.

Types of Personal Bankruptcy: 第七章 and 第十三章

第七章 Bankruptcy

The most common form of personal bankruptcy is 第七章, which involves the liquidation of the filer’s assets in order to discharge all or a portion of the outstanding debt. Individuals often opt for this path as they find themselves significantly overwhelmed and lack the necessary income to settle their debts within a reasonable period.

  • 意味着测试: To qualify for 第七章 bankruptcy, the debtor’s income must pass the means test. 如果他们的收入低于州中位数，他们通常有资格申请第七章. Otherwise, they may need to explore other options.
  • Property Liquidation: 在这个 liquidation bankruptcy, nonexempt assets are sold to repay creditors. 债务人可能会损失一些财产，但这是一个新的开始.
  • Foreclosure Protection: 虽然第7章不能直接阻止止赎，但它可以暂时推迟这一进程. However, the debtor must catch up on mortgage payments.
  • 债务放电: Most debts are discharged after liquidation, 除了某些例外，比如学生贷款和最近的税收.
  • Duration on Credit Report: Remains on the credit report for 10年.
  • 资格: Available to individuals, 合作伙伴关系, 有担保和无担保债务总额低于2美元的公司,750,000.
  • Third-Party Protection: 没有保护共同签署人或第三方的具体规定.

第十三章 Bankruptcy

第十三章 给一些快速的救济，并帮助归档的人做一个 还款计划 部分债务取决于他们每个月的负担能力. 这个数额是由他们的收入和他们实际可以支付的金额计算出来的.

当这个人遵循这个计划并还清债务时，他们的信用评分会慢慢变好. 在某些情况下，他们可能能够在一年后获得联邦住房管理局、退伍军人事务部或美国农业部的住房贷款 filing for bankruptcy, or wait two to four years for a regular mortgage.

  • 意味着测试: There is no strict means test for 第十三章. 然而，债务人的固定收入在决定还款计划方面起着作用.
  • Property Liquidation: 债务人保留他们的财产并制定还款计划. 该计划为期三到五年，允许逐步偿还债务.
  • Foreclosure Protection: 一个显著的优势是它能够停止止赎程序. Debtors can cure delinquent mortgage payments over time.
  • 债务放电: 成功完成还款计划后，剩余的债务被解除.
  • Duration on Credit Report: 第十三章 bankruptcy is a bit less punitive than 第七章 bankruptcy because it stays on record for only 七年.
  • 资格: 对有固定收入的个人开放，允许他们随着时间的推移重组债务.
  • Third-Party Protection: 为“消费者债务”的第三方提供保护.”

税务注册会计师在债务管理和破产中的重要作用

在管理债务的过程中整合税务注册会计师的专业知识, considering debt relief alternatives, and especially when filing for bankruptcy, can significantly influence the outcomes and ensure that all financial decisions are made with a comprehensive understanding of their tax implications.

破产的直接影响和长期后果

Filing for bankruptcy can quickly stop creditors from calling and threatening actions like eviction, 丧失抵押品赎回权, 收回, 实用程序关闭, 或者扣发工资, giving you a break during tough financial times. 但, be ready for some tough moments, 比如法院会没收你的一些财产卖掉还债, or your credit cards being canceled.

It’s important to understand that this process may also limit your ability to obtain new lines of credit, 让快速重建你的财务状况变得具有挑战性. The emotional toll of filing for bankruptcy, including feelings of embarrassment or failure, should not be underestimated, 但这也是朝着恢复金融稳定迈出的一步.

面对破产的即时救济和长期影响, a tax CPA can offer invaluable advice on how the decision might affect your current and future tax situations. Bankruptcy can have complex tax consequences, including the potential taxation of forgiven debts or the implications for tax returns in the years following the filing. A tax CPA can guide you through these nuances, 确保你不会遇到意想不到的税务负担或错过可能的税收优惠.

Exploring Debt Relief Options

你可能会注意到电视广告提供帮助减少债务而不用破产. 请记住，即使这些服务可以协商较低的付款，你也可以管理, they won’t prevent damage to your credit score. Whenever someone arranges to lower your debt, 它在你的信用报告上显示为负面标记，并且会在那里停留很长时间.

另外, it’s vital to thoroughly research any debt relief program to avoid scams that prey on those desperate for a way out of debt. These programs often come with hidden fees that can potentially worsening your financial situation.

Consulting a tax CPA is also advisable to navigate the tax implications of debt relief strategies. 例如, if a debt settlement is reached, the IRS may consider forgiven debt as taxable income, which could significantly impact your tax situation. They can offer strategies to minimize this tax burden and plan for any tax payments that might arise from debt settlement. The tax implications of consolidating loans or engaging in debt management plans can also be discussed with a CPA.

Bankruptcy’s Influence on Employment Opportunities

A newer problem that not everyone knows about is that some employers look at job applicants’ credit histories. 如果你过去的还款情况不佳，这可能会让你更难找到工作和偿还债务. The best approach is to have a steady job before you consider getting help from a debt relief service or filing for bankruptcy.

在处理复杂的金融稳定和就业问题时，要考虑这些问题.

  1. Current Employment Security联邦法律保护破产者不受歧视.
  2. Future Employment Prospects: Prospective employers in industries emphasizing financial responsibility may view bankruptcy filings unfavorably, making it harder to secure new employment.
  3. Professional Licenses and Contracts当前位置某些职业可能有财务稳定至关重要的条款. This could potentially affect your ability to maintain professional licenses or contracts after filing for bankruptcy.
  4. Security Clearance Jobs: While not a definitive barrier, bankruptcy can complicate the process of obtaining or retaining jobs that require security clearance.
  5. Credit and Trustworthiness Concerns: Employers managing financial resources may question the judgment of those with a bankruptcy on their record, impacting roles and advancement opportunities.

Seeking Professional Debt and 税 Advice

Before choosing a debt relief program, it’s smart to talk to a reputable, 非营利性信用咨询机构的免费债务审查. 选择一个值得信赖的机构，法律上必须把你的利益放在第一位. 小心那些不可靠的债务顾问，他们可能会建议对他们更有利的选择.

You should also consult a tax CPA to provide a clearer picture of your financial situation from a tax perspective. This professional advice is crucial because it can help you avoid making decisions that could adversely affect your tax status or miss opportunities for tax relief. 注册会计师了解你的财务历史和税法, they can serve as an advocate for your best interests, ensuring any financial strategy includes considerations for minimizing tax liabilities and optimizing tax benefits.

This step can provide valuable insights into various options and help you make an informed decision about managing your debt. A reputable counselor can also help you develop a budget that allows you to live within your means while addressing your debt, setting a foundation for financial health.

Understanding the Costs of Bankruptcy

如果你选择申请破产，要知道诉讼费大约是300美元. 也, 根据破产法第7章，聘请一名律师的费用可能在1美元,000元及3元,000, while for a 第十三章 bankruptcy, 大约3美元,000 to $6,000.

这些费用会给你增加很大的负担，尤其是当你已经在经济上挣扎的时候. 在考虑破产时，把这些费用考虑进去是很重要的. Many attorneys offer a free initial consultation, which can be an opportunity to discuss your case and understand the potential costs and benefits of filing for bankruptcy. Planning for these expenses can help you manage the financial impact of bankruptcy more effectively.

The costs associated with filing for bankruptcy, including court and attorney fees, are not the only financial considerations. 税务注册会计师可以解释如何在你的税务申报中处理这些费用, 潜在地确定减免或抵免可以减轻你的整体经济负担. 此外, they can provide foresight into the management of any tax refunds or liabilities that may arise post-bankruptcy, ensuring you’re prepared for your new financial start.

Utilizing a tax CPA in navigating the complex interplay between debt management or bankruptcy and tax implications is crucial. Their expertise ensures that decisions are made with a full understanding of how each step affects your financial health, 不仅从债务的角度来看，而且从潜在的税收节省或负债的角度来看. 尽早聘请税务注册会计师可以做出更明智的决定, 有可能省钱并避免负面的税收后果.

为高净值人士在复杂的金融转型中导航, including bankruptcy, LBMC 财富 Advisors offers a guiding hand. 明升体育app下载团队, 我们在会计和税务服务等一系列关键服务领域的专业知识享有盛誉, estate and trust matters, executive compensation planning, 慈善事业, 以及保险和退休计划-随时准备提供个性化服务, 战略建议.

Our wealth of experience ensures a comprehensive understanding of how each financial decision impacts the broader picture of your wealth and tax strategy. We encourage you to reach out and discuss how we can support your financial goals and navigate the challenges ahead. 如果你的合作伙伴对你的财务状况负责，请联系 LBMC 财富 Advisors 今天.

LBMC tax tips are provided as an informational and educational service for clients and friends of the firm. The communication is high-level and should not be considered as legal or tax advice to take any specific action. Individuals should consult with their personal tax or legal advisors before making any tax or legal-related decisions. 除了, 所提供的资料和数据基于被认为可靠的来源, but we do not guarantee their accuracy or completeness. 上述资料以所示日期为准，如有更改，恕不另行通知.