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Bankruptcy Attorneys in Indianapolis Since 1980

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Car Loan Payments in a Chapter 13 Bankruptcy

October 16, 2016 By TomScottLaw

If you will be filing for bankruptcy protection, you have a few options regarding the best way to pay off a car loan or to buy a new vehicle before or during the period of a Chapter 13 bankruptcy. How Much?     FEES     Our Locations? 3 INDY OFFICES Need Help? CONTACT US […]

Filed Under: Chapter 13, Vehicles Tagged With: cram-down, cramming, eve of bankruptcy, IRS, lower interest rates, means test

Means Test Helps Determine Filing For Chapter 7 or Chapter 13 Bankruptcy

June 7, 2016 By TomScottLaw

Bankruptcy Means Test

The bankruptcy means test was established by congress as a standard method of calculating the disposable monthly income of a debtor, to help determine the amount paid to the trustee of a Chapter 13 bankruptcy plan. We recently discussed several aspects of bankruptcy with Christopher Holmes and Jess M. Smith, III, partners at Tom Scott […]

Filed Under: Chapter 13, Chapter 7, Debt to Income Ratio, Exemptions, Medical Bills Tagged With: 401k, 7th Circuit Court of Appeals, Disposable Monthly Income, DMI, IRA, IRS, means test, Social Security

Accruing Post-Petition Interest on Unpaid Federal Taxes (Interview Part 3 of 3)

April 26, 2016 By TomScottLaw

Penalties for unpaid federal taxes are still dischargeable when filing for bankruptcy, but they will accrue post-petition interest that is owed to the IRS. Debt limit amounts have changed for Chapter 13 cases, as of April 1, 2016. Editor: We recently discussed the changes in the bankruptcy laws with Christopher Holmes, Jess M. Smith, III, […]

Filed Under: Chapter 13, Non-Dischargable Debt, Property & Asset Protection, Taxes Tagged With: 109(e), Accrue Post-Petition Interest, Chapter 11, Chapter 13 Debt Limit, Department of Education, Federal Register, Indiana Department of Revenue, IRS

Tax Returns, the Affordable Care Act (Obamacare), and Bankruptcy

August 16, 2015 By TomScottLaw

We recently interviewed Christopher Holmes and Jess M. Smith, III, the senior partners at Tom Scott & Associates, P.C. Below is Part 3 of that interview, which focuses on filing your taxes in relation to when you file for bankruptcy, as well as how a subsidize premium for health insurance purchased through the Healthcare.gov website […]

Filed Under: Chapter 13, Taxes Tagged With: Affordable Care Act, Bankruptcy Discharge, Form 8962, Hamilton County, Healthcare.gov, Insurance Premium Tax Credit, IRS, Iternal Revenue Service, Noblesville, Obamacare, PTC, Tax Returns, Three-Year Rule

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SOUTH INDIANAPOLIS OFFICE
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Indianapolis, IN 46227
Phone: 317-786-6113

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EAST INDIANAPOLIS OFFICE
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Indianapolis, IN 46219
Phone: 317-870-3232

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  *Disclosure required by 11 U.S.C. § 528(a)(3): We, the law office of Tom Scott & Associates, P.C., are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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