Milford, NH Resident Weighs His Options
Filing for bankruptcy is a difficult decision, and one that should not be taken lightly. While under federal bankruptcy law this will stop creditors from chasing you, tax debt is treated differently being considered nondischargeable priority debt. With exceptions, bankruptcy will not eliminate this type of debt and it is given priority over other claims. If you have a tax lien against your property, filing for bankruptcy will not remove the lien and the IRS will still have a claim to your property until the debt is paid.