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2. Which debts can’t be discharged in bankruptcy? - AOL

   www.aol.com/finance/debts-t-discharged...

   Many types of taxes cannot be discharged in bankruptcy, including non-income tax debts. However, there are some exceptions for tax debt that meet certain qualifications.

3. What Are Back Taxes? Meaning and Consequences - AOL

   www.aol.com/finance/back-taxes-meaning...

   Individuals or businesses with back taxes may face consequences from the IRS, such as wage garnishments, tax liens or even property seizures, depending on the severity and duration of the debt.

4. Chapter 7, Title 11, United States Code - Wikipedia

   en.wikipedia.org/wiki/Chapter_7,_Title_11...

   In a Chapter 7 bankruptcy, the individual is allowed to keep certain exempt property. Most liens, however (such as real estate mortgages and security interests for car loans), survive. The value of property that can be claimed as exempt varies from state to state. Other assets, if any, are sold (liquidated) by the trustee to repay creditors.

5. Exempt property - Wikipedia

   en.wikipedia.org/wiki/Exempt_property

   This is important within the bankruptcy process, and may affect an individual's decision to file Chapter 7 or Chapter 13 bankruptcy. State exemptions vary from strict to generous. For example, Texas is more lenient in allowing your homestead and up to $60,000 in personal property. [1] Texas also exempts certain investments and insurance policies.

6. Chapter 13, Title 11, United States Code - Wikipedia

   en.wikipedia.org/wiki/Chapter_13,_Title_11...

   An individual who is badly in debt can typically file for bankruptcy either under Chapter 7 (liquidation, or straight bankruptcy) or Chapter 13 (reorganization).In some cases, options may also include Chapter 12 (family farmer reorganization) and Chapter 11 (reorganization of a company, or an individual debtor whose debts exceed the limits for a Chapter 13 filing). [2]

7. Common types of bankruptcy and how to avoid filing - AOL

   www.aol.com/finance/common-types-bankruptcy...

   Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.