There are benefits to filing a personal Chapter 7 or Chapter 13 bankruptcy.
Some individual taxpayers first filie a Chapter 7, receive the Chapter 7 discharge, and then file a Chapter 13.
Filing a Chapter 7 or Chapter 13 prevents the IRS from levying (garnishing) your assets, and also prevents the IRS from recording a Notice of Federal Tas Lien (NFTL).
If you owe the IRS, depending how old the IRS debt is, you may only have to pay pennies on the dollar in a personal Chapter 7 or Chapter 13 bankruptcy.
Today Bank of America and JPMorgan Chase agreed to update borrowers' credti reports, who had previously received a Bankruptcy Discharge from the Bankruptcy Court.
I have more than ten (10) years experience with the United States Bankruptcy Chapters 7, 11, and 13.
Please call me at 702-589-7557, if you owe the IRS and are considering filing a personal bankruptcy.