No Tax Filing

[tebtengri]

Receiving SSDI and VA disability (in lieu of Army retirement pay) and not paying or even having to file taxes. How would this affect filing for bankruptcy?

Obviously an attorney will know but that isn't possible for a couple of weeks.

[2b2rich]

Same here.  I just told them the year that I filed the last time (about 10 years ago) and that was all.  I can't remember if it is the last 3 years of returns they require, but something like that. Anyway, if you have not filed in the last 3 years because all you have received is SSDI & VA Comp, then you just tell them that.  I didn't have to do anything else.

[2b2rich]

Also, you only need to show them your award letters from SSA & the VA (ebenies print out will do).  

You can figure up what you received from each of the past 3 years (from each of those) on a calculator and put those figures down.

[despritfreya]

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@tebtengri wrote:
Receiving SSDI and VA disability. . . and not paying or even having to file taxes. How would this affect filing for bankruptcy?

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It has absolutely NO impact.  If you are not legally required to file tax returns there is no issue.

Des.

[tebtengri]

The benefits thing was what I was assuming I'd need to do but wasn't 100% sure. Given I'll technically have "0" income, I obviously qualify for 7 but would actually prefer cramming down my car and losing all unsecure debt completely. So basically a chapter 13 with nothing being paid to the unsecured debts, which follows the "at least as much as they'd get In chapter 7". Shame you can't cram down a car on chapter 7, that seems like the ideal solution and assuming the Chapter 13 is allowed and I pay nothing to unsecured is basically what it'd be anyway minus the immediate discharge.

[tebtengri]

I swear to God I spaced that post into paragraphs...bloody thing

[despritfreya]

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@tebtengri wrote:
 Shame you can't cram down a car on chapter 7, that seems like the ideal solution

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Actually, you can.  It's called "redeeming".  There are even companies that will finance the redemption.  Google "722 Redemption" for an example.  Your interest rate will be high but, when you factor the legal fees of a Chapter 13 AND paying up to 10% to the Chapter 13 Trustee, a redemption through a Chapter 7 may be something worth looking into.  Never hurts to look.

Des.

[Jnbmom]

@tebtengri 

Just make sure you consult with your attorney regarding these issues. Good luck

[tebtengri]

I checked 722 website earlier today but said my car isn't eligible. I can always rent a vehicle long term for a month or two after they pick up my car to let my scores settle before grabbing a certified pre-owned somewhere.