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I have three years delinquent forefeited property taxes, They were not sold. What to do?

Chicago, IL |

I have three years of forfeited taxes on my property . I want to know if I can work with an attorney to get them reduced since the county was not able to sell my taxes at any of the tax sales. Also I'm thinking of filing chapter 13. I was told they can be rolled into bankruptcy. Is this my best option?

Attorney Answers 4

Posted

A Chapter 13 is a very good option and one I would recommend. You should seek a free consultation on that now.

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Posted

You should first check with the local tax assessor to see if you can set up a payment plan to pay off the full amount owed. They generally want the full amount of taxes owed, because if you're unable to pay them, then they don't want to allow you to keep the property if you're going to continue to accrue debts on the taxes owed. As such, it may be unlikely that they will settle for a lesser amount owed, as this will simply set a precedent for you not paying the full amount of taxes owed on the property each year.

As far as bankruptcy, you should really only consider this if this debt and other debts are large enough that you can not reasonably manage them. Otherwise, you're damaging your credit score and setting up a payment plan through the bankruptcy court that may have been possible outside of bankruptcy.

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Posted

I agree with the previous answers. Meet with a bankruptcy attorney right away. Taxes may not be discharged but you will at least have your situation examined by a professional and get some peace of mind.
Good Luck

Please be sure to indicate the best answer. If this answer was helpful, please mark as helpful below. Only. If and until you and I sign an Agreement for Legal Services, I am not your attorney. These answers are provided for informational and/or novelty purposes

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Posted

I agree with the other attorney on this forum. I think setting up a payment plan with the local tax assessor is your best move.

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