Posts Tagged ‘bankruptcy attorney’

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Can Bankruptcy Eliminate IRS Debt?

September 24th, 2010

As an Orlando bankruptcy attorney, I know that my clients fear IRS debt over and above all other types of debt. That fear, in some respects, is justified given the unique powers the IRS has to collect on debt owed to it. However, in some cases, people who owe money to the IRS can obtain the same debt relief with the IRS that they can with their other creditors by filing either a Chapter 7 or Chapter 13.

Not all IRS debt is dischargeable in bankruptcy. However, with the help of an experienced Orlando bankruptcy attorney, it is possible to achieve the debt relief you seek when dealing with the IRS. Basically, it comes down to timing and meeting 5 general requirements.

1. The Three-Year Rule

Normally, tax debts are due April 15th of the year after the year for which the taxes are assessed. However, if an extension was filed or the return was filed late, that date is pushed back. Once three years have passed from the date the taxes were due, the IRS debt passes this qualification.

2. The Two-Year Rule

More than two years prior to filing bankruptcy, the tax return for the IRS debt in question must be filed with the IRS.

3. The Two-Hundred-Forty Day Rule

240 days must pass after the last assessment of the tax claim by the IRS prior to filing bankruptcy.

4. Non-Fraudulent Return

No fraud was involved in the filing of the tax return in question.

5. Willful Tax Evasion was not Present

There was no attempt by the taxpayer considered be willfully “cheating” or evading the tax.

These are very basic qualifications to determine whether IRS is dischargeable when filing bankruptcy. Only an experienced Orlando bankruptcy attorney can help you determine if your IRS debt can be eliminated by the filing of a Chapter 7 or Chapter 13 bankruptcy, and help your avoid any problems that could arise out of the given qualifications.

When my clients have IRS debt they would like to eliminate when filing bankruptcy, I advise them to file an Adversary Proceeding along with their bankruptcy case. This Adversary Proceeding allows a separate Order to be entered specifically stating that the IRS debt has been Discharged in the case. With this Order, there can be no question, once the bankruptcy is closed, that the IRS debt was eliminated in the bankruptcy.

As you can see, it is possible to eliminate money owed to the IRS when filing bankruptcy. Depending on when you file the case and how old the debt is, you may be able to Discharge all or most of the IRS debt you owe.

If you have questions about whether you can eliminate IRS debt, or when you are ready to speak to an experienced Orlando bankruptcy attorney to determine if you can indeed wipe out that debt, I hope you contact me.

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Why You Need An Experienced Bankruptcy Attorney

September 19th, 2010

Each year I am contacted by clients, seeking my advice as an Orlando bankruptcy attorney, only after they have filed their bankruptcy “pro se”, without the assistance of a bankruptcy attorney. Normally, these people are in a serious situation and in need of help immediately to stop something going terribly wrong with their case.

For example, a client approached me after she received a Motion to Dismiss from the Trustee in her case for failure to attend the 341 Meeting of Creditors. On her original meeting date, she was out of town and therefore, could not attend. She explained that she had not received anything from the Trustee regarding the rescheduled meeting date, and had not made it to that meeting either.

I contacted the Trustee and resolved the Motion to Dismiss. I then reviewed her bankruptcy petition and filed amended schedules to apply her property exemptions correctly and prevented her from losing her car.

The trouble is, many people filing bankruptcy spend some time “researching” bankruptcy online and conclude it is a simple process they can do themselves. Even though a large number of people file for bankruptcy each year and achieve the debt relief they seek, there also a large number who end up with their Discharge put on hold, losing assets that they may have been able to keep, having their case Dismissed, or just making the entire process more stressful than it has to be.

Yes, you will have to pay a bankruptcy attorney for his or her services. However, many Orlando bankruptcy attorneys, myself included, offer payment plans to their clients. In my experience, when clients come to me for help after they have filed on their own, I usually have to spend quite a bit of time undoing what was done incorrectly. In other words, had they hired me to represent them from the beginning, they may not have had to pay as much for my services as when they need my services immediately to prevent a bad outcome in their case.

When you hire an Orlando bankruptcy attorney, make sure that bankruptcy attorney has several years experience in with the local bankruptcy Court’s rules, procedures, and bankruptcy laws. This will help prevent a rocky trip through the bankruptcy process that may result in Dismissal of your case. In the end, with an experienced bankruptcy attorney on your side, you will feel less anxiety and stress on your road to Discharge.

Contact an experienced Orlando bankruptcy attorney before you attempt a “do-it-yourself” bankruptcy .


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Credit Repair Tips To Help You Avoid Bankruptcy

September 19th, 2010

Creditors have to determine what kind of a risk it would be to loan you money. All debtors are a risk to creditors however it is those they view as a good risk that will ultimately get the loan. In order to reach your goal of being seen as a good risk you need to first take action to raise your credit rating. A good credit score is the best way to be seen in a good light by a creditor. Use these tips below to start increasing your credit score. Keeping your credit score high is also a great way to keep bankruptcy from becoming your reality.

1. Get your hands on a copy of your credit report.

If your score is below 400 you really need to take steps to repair your credit quickly. Even a score below 500 would set of warning bells in the minds of creditors. 600 and below is acceptable but you ultimately want your score above 600 so that creditors will see you as a good debtor capable of paying them back their money. Your credit score is yours and there are many free credit reports available that will help you keep tabs on your score.

2. Consider loan consolidation

When you take your current debts and consolidate them into one loan you are likely to reduce your total monthly payment. It will also make it easier to pay off these debts.

3. Pay on or before the due date each month

Loan consolidation is a tool to help you. It is vital that once you consolidate you pay your monthly balance by the due date. You want creditors to notice you commitment to getting this debt paid.

4. Make bankruptcy a last resort

There is nothing worst that you can do to your credit score than file for bankruptcy. Having bankruptcy on your credit record means getting a small loan, buying a car or buying a home would be virtually out of reach. Bankruptcy stays on your credit report for 7 years and that is a very long time.

If your debt has become out of control and you are considering filing chapter 7 bankruptcy make sure you learn about what is involved in a bankruptcy proceeding and consult with a qualified bankruptcy attorney.

Learn more about chapter 7 bankruptcy. Stop by David Chang’s site where you can find out all about bankruptcy proceedings and what we can do for you.


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Fortunately, A Local Attorney In Carlsbad Gives The Best Legal Advices From Debt Cases

September 9th, 2010

There have never been so many television and radio commercials advertising for miraculous ways to get out of debt in a hurry. The reason is in the newspaper headlines and the lead stories on television and radio. The global recession has hit us hard. Debating how it started or the best way to aid the recovery does little to help those of us in trouble right now. Fortunately for those who live there, a Carlsbad bankruptcy attorney is making a difference.

Whether or not we ever decide who was at most fault in instigating the economic rollback it is clear that the greatest burden is felt at street level, where the workers are. Housing starts fell, a poor indication for our national economic growth, and that began the bleeding. Credit became harder to gain access to, which caused businesses to slow down or stop altogether, which costs jobs.

Once the decline began, determining whether individual credit or financial institutions risk taking was more to blame became an issue for academics, pundits, and ultimately historians to sort out. In real time, the effect is the worst unemployment since the great depression and a sputtering economy trying to repair itself. The resolution will be neither swift nor tidy.

Most of us were reared with the notion that bankruptcy was a clear indication of personal failure and so has an enormous stigma attached to it. In reality, bankruptcy laws were written to give the individual in debt as much help as possible, keeping in mind that the creditor has a financial stake in the matter as well. Balance is the goal for the bankruptcy laws, and they are complex but helpful.

There a number of different kinds of bankruptcy available depending on your specific situation. The types are known by the chapter of the law under which they fall; Chapter 7, chapter 11 and chapter 13. Chapter 7 is commonly known for the provision of liquidating a the assets of a person to pay off debtors, with protective exception meant to keep the individual afloat.

When organizations do it we seem able to accept it as a part of business, but personally the impact is visceral and dramatic. There is no easy way to decide o enter into bankruptcy, but the earlier it is begun the easier the process. If you live nearby, a Carlsbad bankruptcy attorney can help turn the nightmare into a situation you can handle.

Your Carlsbad bankruptcy attorney can help to provide solutions to overwhelming debt and financial obligations. You can learn more about legal remedies when you visit the website at http://live-debt-free-now.com .


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How To Look For A Bankruptcy Attorney Temecula

September 5th, 2010

With the way things have been going economically, it is not surprising that many people have found themselves in a situation where they must declare bankruptcy. This is not something they need to be ashamed of, but it is something that they need to deal with as swiftly as possible. Choosing the correct bankruptcy attorney Temecula can make the entire process quick and painless.

It is necessary for a person who is going bankrupt to find a lawyer as quickly as they can. If they ignore the issue, it will get worse, not simply disappear. They may be able to find the best lawyer possible but even the best will not be able to help if they are not given the time they need to handle the case properly.

The thing that everyone needs to keep in mind is that they cannot hire the first lawyer they hear about, but must explore their options. They should not be afraid to ask any question that comes to mind, such as where the lawyer was educated or which representative from the firm will actually handle the case. They should also find out the time frame in which they can expect to be finished with the case.

One great way to begin searching for the right attorney is to spend time in a bankruptcy court. This will allow the potential client to see for themselves how their case will work and decide the style of lawyer they would prefer to handle their case. This can also be a great place to meet attorneys in the area and see them in action before even deciding the interview them.

It is also very helpful, when looking for the right bankruptcy attorney, to seek the advice of other legal professionals. For example, someone may have a divorce lawyer or workman?s compensation lawyer that they have been successful with in the past. The law community is a small one, and this lawyer will surely be able to make a recommendation for someone who can successfully handle a bankruptcy case.

Looking for someone to handle a bankruptcy case can be very stressful, but it is not as bad as the stress of leaving it undone. Potential clients must interview a number of lawyers and ask any question that is on their mind before making a choice. Visiting a bankruptcy court can be a great way to explore the process and see some lawyers in action. Finding the right bankruptcy attorney Temecula should be done as quickly as possible to begin a new future with healthy finances.

Don’t go it alone when file for bankruptcy hire a top notch Temecula Bankruptcy Lawyer at BankruptcyAttorneyTemecula.org


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What Happens If I Stop Paying Credit Card Debt?

September 1st, 2010

As an Orlando bankruptcy lawyer, one of the first things I advise my clients to do when they decide they are filing bankruptcy and hire me is to stop paying on their credit cards. Recently, though, before I could offer that advice, a client asked me: “What happens when I stop paying my credit cards?”

The answer? Your credit card company will begin the collection process, which normally proceeds in this manner:

1. You will receive frequent phone calls from the original creditor, as will your family and your employer, attempting to convince you to make a payment over the phone. The collection agent will try to intimidate you, by saying they will ruin your financial life unless you pay up.

2. In about 90 days, your original creditor will give up and sell your account to a debt collector. This third party agency will then repeat the actions above.

3. Then, around 180 days from the time you stop making payments, you may hear from an attorney. This attorney will simply try to collect on the debt, following the same protocol in 1 and 2 above.

4. At this point, the attorney might file a lawsuit, seeking a judgment against you. A judgment would permit the creditor to collect from you through a wage garnishment. Your wages cannot be garnished without a judgment.

Kind of a long process until a judgment is obtained, right? Over 6 months from the time payments stopped being made if I added correctly. So why, as a bankruptcy lawyer, do I advise my clients to stop paying on credit cards when they hire me?

You see, the objective is for my client’s bankruptcy to be filed well prior to a judgment being entered against them. As long as no judgment is entered, garnishment is not possible. Now, my client can catch up on car or house payments, for those secured debts they intend to keep through filing bankruptcy. They are not wasting that money on payments to malicious debt collectors, for credit card debts that will be discharged in their bankruptcy. They can also use the money they have saved to create that safety net, which I advocate as their Orlando bankruptcy lawyer, to be used as part of an overall, start fresh, strategy when filing for bankruptcy.

But what about those malicious debt collection agents? Here in Florida, we have some of the toughest laws in the country to protect consumers from the abuses collectors use regularly when attempting to get my clients to pay their credit card debts. Additionally, a Federal Law also restricts those abusive acts by third party collection agents in an attempt to collect on a debt. Why not sue your creditors to enforce your rights?

The debt collection process can be an intimidating experience, or an empowering one. If you know how it works and you know your rights, the empty threats the debt collectors hurl at you in a typical phone call from them will seem laughable, and more often than not, actionable.

Get the Free eCourse to find out how an experienced bankruptcy lawyer to assist you in successfully navigating the debt collection process and help you achieve that fresh start you’ve been craving.


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When Economies Flounder – Bankruptcy Filings Rise

September 1st, 2010

As the economy continues to stagnate, the number of personal and corporate bankruptcies is on the rise. The tightening of credit and loss of home equity are two reasons for the surge, and the current upward trend is directly correlative to the recession, which some fear could dip again. Regardless of the reason, achieving the best possible outcome after making the decision to file is best when utilizing the services of a bankruptcy attorney. With their knowledge of local policies, legal contacts and overall expertise in the matter, they can get you through the proceedings as quickly as possible, and help you avoid making irreparable financial mistakes. Many people do not realize that once a bankruptcy is final, an individual cannot file again for another seven years, so you better get it right the first time.

While it’s no longer breaking news, the floundering economy is still largely on everyone’s mind. Rising unemployment, rising home foreclosures, mounting debt – together they have created the perfect economic storm for many individuals, businesses, even local and state governments. Caught in such as quagmire, more and more are using bankruptcy as a way out. The number of filings in the last year rose 21 percent from the previous year, at well over 1.5 million. Over a three-month period in 2010, more than 422,000 bankruptcy filings occurred, the highest quarterly number since 2005.

Both individuals and businesses that find themselves in financial peril have options, whether they are underwater on a house or simply unable to service their debt.

* Chapter 7 bankruptcy can protect individuals, especially homeowners, from facing recourse judgments against them in court. Lenders in recourse states may sue borrowers over short sale deficiencies or to recoup any losses from a foreclosure auction sale. Chapter 7 does not prevent foreclosure, but it will delay it. Sometimes, even in recourse states, a bankruptcy attorney can help you negotiate with a lender to prevent the deficiency judgment altogether. Chapter 7 allows for the discharge of debts allowing any individual the opportunity for a fresh start financially.

* Chapter 13 filing is possible for individuals who do not want to discharge all their debt, but instead need help negotiating with creditors in setting up a repay schedule, and putting an end to those harassing and annoying calls from collection agencies and debt collection departments.

* Chapter 11 proceedings are open to all businesses including corporations and sole proprietorships. While open to individuals as well, chapter 11 is favored by businesses because they are allowed to continue to operate and retain their assets as a “debtor in possession”.

A first consultation with a bankruptcy lawyer is often free. This is the time to discuss options and decide on the best course of action for your unique situation. The total cost of hiring legal representation is surprisingly low – especially considering the ultimate savings once all is said and done. While costs will vary depending on where you live, who you hire, and the complexity of your situation, it is usually no more than $2,000. In most cases, within three to five months after filing, the bankruptcy is final, and you can move forward. The first step is talking with a qualified attorney. Getting one’s financial house in order takes time and money, but the cost is a small price to pay for the peace of mind.

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Stephen Daniels is a Netbiz SEO 2.0 researcher. If you’re seeking a divorce attorney near Portland, Oregon to assist with your bankruptcy filing, he recommends Aurora Law Offices. With over 25 years of experience their staff offers free initial consultations, payment plans and flat-fee charges for some services.


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Halt Those Annoying Calls With A Bankruptcy Lawyer

August 17th, 2010

You probably have bankruptcy questions and that puts you in a similar situation to millions of other Americans. It’s a scary and difficult time, but it’s also not a time to ignore the phone and your deepening financial difficulties. For many Americans in today’s economy, a telephone call is enough to trigger that uncomfortable feeling in the pit of your stomach. The call is from another creditor looking for payment and perhaps threatening foreclosure and repossession of your car or home.

Whether it’s a lost job, unpaid medical bills or simply the worst recession in nearly 70 years that has placed you in an unstable financial footing, it’s important to understand that you still have control of the situation. You can stop those harassing phone calls that seem to multiply every single day and take actions to solve your financial crisis. The first step is to contact your bankruptcy lawyer and get some answers to your bankruptcy questions.

That way you will pay a reduced or no interest rate on unsecured debt like credit cards and some loans. That will stop the collection calls and you will soon be sending in one monthly payment that is divided among all of your creditors, according to the debt relief negotiations. Perhaps debt relief can solve your situation. An expert lawyer will contact all of your debtors to negotiate settlements.

However, maybe the situation is so advanced that repossession or foreclosure is imminent on a vehicle or home or other piece of property you own. Or creditors and perhaps even the federal government are threatening to garnish your wages. This is not the time to give up. Instead, this is the time a bankruptcy attorney can help you dig out from even a mountain of debt and lead you to a fresh start, free from the crushing debt that has turned your life into a nightmare.

Your bankruptcy attorney will determine whether to file a Chapter 13 reorganization plan or a Chapter 7 liquidation bankruptcy. If a bankruptcy lawyer determines that individual bankruptcy is the best answer for your financial situation, the papers can be filed electronically. That triggers legal protection that blocks any of your creditors from continuing to call or take action to try to collect debts, like garnishment, foreclosure or repossession. Even better, this so-called automatic stay remains in force as long as your case is in bankruptcy court.

Your attorney will determine if your income level fits the strict requirements for Chapter 7. If not, Chapter 13 is the second bankruptcy option. Under Chapter 7, any of your unsecured debts are completely liquidated. You must continue paying on secured debts.

The Chapter 13 budget plan also pays any discretionary money to your unsecured creditors. In Chapter 13, you can save your property by paying off what you owe, including penalties and missed payments, over time. It takes about 5 years for this to happen. Any unpaid debt for unsecured creditors at the end of the plan is discharged.

Learn more about Mesa Bankruptcy Lawyers. Stop by Mike Newton’s site where you can find out all about Mesa Bankruptcy Lawyer and what it can do for you.


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Secrets To Getting The Best Bankruptcy Lawyer In Mesa

August 10th, 2010

When it comes to bankruptcy laws, things become more complicated for you, as the laws vary from state to state. Getting the best bankruptcy lawyer to handle your bankruptcy case is very important for you, if you want to defend your claim successfully in the court. The lawyer is an expert professional, who understands the intricacies involved in the various laws and regulations. Therefore, you must take care of many things while hiring a lawyer for you. You will find the following tips very useful in this regard:

License

It is very important for you to understand that the laws of bankruptcy vary from state to state. Therefore, you will have to make sure that the bankruptcy lawyer you are hiring has the license to handle bankruptcy cases in your state. You cannot hire an attorney from some other state to handle your case, if you live in some other state and the attorney does not have the required license – no matter how much experienced he or she is. What is more, it is not just the license; you will also have to make sure that the attorney understands the state specific laws.

License

Now that you have found that, the bankruptcy lawyer you are hiring have the license, the next step is to make sure that you are comfortable talking with him or her on the various aspects of your bankruptcy case. A good comfort level between you and your lawyer is an important component, when it is about successfully defending your case in the bankruptcy court.

Attorney Fee

Since you are filing for bankruptcy, you are certainly not in a situation where you can afford to pay a substantial amount as attorney fee. Therefore, you must keep in mind your specific budget, while you are hiring the bankruptcy lawyer. The attorney fee must be something that could fit your budget. If the fee is much more than what you are capable to pay, you may have to look for some other financial solution in order to pay off the attorney fee, which will be like asking for another trouble.

Ask Questions

You want to get the best lawyer for your case. One thing is very important while you are planning to hire a bankruptcy lawyer – you must ask as many questions as there are in your mind. After all, it is about the security of your financial life. You want to get the best lawyer for your case. You want the best settlement through the bankruptcy case. Therefore, it is of vital importance that you ask questions from the lawyer regarding his or her experience. Make sure that the lawyer is experienced enough to handle your type of bankruptcy cases.

Want to find out more about mesa bankruptcy lawyers, then visit Author Name’s site on how to choose the best mesa bankruptcy attorney for your needs.


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Things You Should Know Before You Hire A Bankruptcy Lawyer In Mesa Arizona.

August 6th, 2010

A person forced to file bankruptcy is emotionally spent and unable to deal with the necessities, filings, and handlings of a bankruptcy case. Filing bankruptcy is a scary and tedious process. It is draining and impossible to stay on top of it unless you are a bankruptcy lawyer. What are the guidelines to follow when hiring one? But, how do you find the right bankruptcy lawyer? Here are a few tips on how to choose the right bankruptcy attorney for you.

How do you start searching for a bankruptcy lawyer? Call your local bar association and enquire regarding who sits on the bankruptcy court panels in your area. The yellow pages do not cut it during these tragic situations, so why not contact your local attorney bar association. Lawyers on the bankruptcy court panels are experts in the field adding to the confidence level you should have in him or her when selecting someone in this manner. This will help narrow down your selection in an effective manner.

You need someone with a reputable history of success in handling it with ease. Questioning those you know in similar scenarios is a great way to find out about an attorney before hiring him or her. Unfortunately, more people have filed bankruptcy in 2010 than in past years and it shall only increase as we approach 2011. For dealing with bankruptcy is difficult and you do not want to make it worse on your family by choosing a lawyer who is not an expert in the field. Find out who has handled bankruptcy related issues amongst your relatives, friends and loved ones. Ask around your area.

What is the difference between filing for a Chapter 11, Chapter 7 or a Chapter 13? What does the lawyer need from you to get started? Ask your lawyer what are the benefits to filing for bankruptcy. How long will the process take? Who will go to court with you? What should you expect? All of these questions need to be answered before you proceed forth. Thus, find a lawyer who is able to supply information addressing these issues.

Ask about fees and find out what is included in the fees. Are there going to be any additional unexpected charges? Is there a written agreement? Have the lawyer outline worst-case scenarios; explain regarding hourly fees, and describe the charge breakdown. If an lawyer requests for you to sign a fee agreement upfront do not be turned off by it. For many lawyers do this in the beginning as a sign of their commitment to you as their client. It is considered to show a level of seriousness about representing you.

You are about to make a huge step in your life and you need to not only check references but research the potential lawyer for hire. Check and see if the lawyer has any lawsuits filed against him/her. Google the lawyer and discover if anything comes up. Call courthouses where the lawyer holds court and make inquiries about him/her.

Make sure you find a reputable Mesa Bankruptcy Lawyer today.

Looking to find the best deal on bankruptcy lawyers, then visit www.mesabankruptcylawyers.org to find the best advice on bankruptcy attorney for you.


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