I tried an OIC on 22,000. (We make 95.000 per yr) I did it myself took two months. They told me to go pound sand and two weeks after put a lien on my home, which made me go chapter 13. Vicious cycle. Yeah to Tim G & Charlie R.
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drastic solution....
Here's kind of an off-the-wall and desperate solution to help keep his wife and children fed and clothed. If he were to get divorced, and his wife given custody and ordered to pay a high amount of child support, then I would think that the IRS would not levy the child support garnishment and that would still go to his (ex)-wife and child(ren).
Of course, that would be last resort, but it sounds like he might be last resort. What about him filing an installment agreement with them, something like $500/month and paying on that for a few years until he is eligible to discharge them in a chapter 7?
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One thing to possibly pay attention to with taxes is that when the tax authority gets a judgment for the amount including penalties and then that amount is included in the BK filing, the penalties, etc. don't go away - they become secured claims.
For example, I was PA for 2006 back taxes and even though I had a payment plan, they filed a state tax lien/public judgment anyway. The entire balance including the astronomical penalties/interest became secured on my filing.
That's why I timed the filing of my 2007/2008 taxes for a week or two before I submitted my BK filing. I had the amounts of the tax due for the creditor matrix and they were served with the filing before they had time to file a public judgment. Any penalties on those taxes became unsecured, non-priority.
I don't know if this would be the same but that's how PA got handled on my side.over $100K cc debt,$20K taxes,$332K mortgages/value $190K,surrendered
Confirmed, $801/month 56 down,4 to go
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