This article drafted by fellow NACBA memeber, Reed Allmand, bring up several things to consider in the New Year as a reason to file bankruptcy now. Of course the decision to file and the timing of when to file varies for each individual and each case. It is important for you to review your case with a bankruptcy attorney before making your decision.
The Article raises the importance of meeting with counseling and not delaying. Delaying could result in wages being garnished, assets repossessed, and your home being foreclosed.
The Article focuses on the use of bankruptcy to handle past due taxes. Chapter 13 can be used as a way to pay back taxes over time, while allowing adjustment to your withholding to prevent future tax problems.
Now is the time to meet and review your situation. Start the New Year right