taxes and the filing of a bankruptyc or a proposal

Posted on Monday, November 17, 2008

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I think that I need to file either a bankruptcy proposal. But the main debt I have is tax. Will taxes be cleared?

Filed under: Bankruptcy
 posted by Questions @ 8:11 pm
1 Expert Comment:

 At November 25, 2008 | 11:46 am , Barton Goth, Trustee in Bankruptcy Said...

Yes, taxes will be cleared with either a proposal or a bankruptcy. The only difficulty would exist with a proposal as the tax department currently are not cooperating with proposal, so if they hold the majority of the votes then the proposal may not be a realistic option as we need creditor cooperation and if the majority creditor will not come on board we would have a difficulty.

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