Posts Tagged ‘delinquency’

Tax Laws That Can Help During Tax Season

August 25th, 2010

In today’s economic hardship the changes seem giant. Just last year a number of tax laws were made to bail us out of dire situations. These are a few new tax laws that you should know about.

The first concerns new car sales and tax deductions. If you purchased a new vehicle, including a car, motorcycle, light truck or motor home, on or after February 16th 2009 and by December 31st 2009, any excise or sales tax paid may be considered a deduction.

In 2010 as well as 2009 the American Opportunity Credit replaces the Hope Education credit. This new credit is worth $2,500 per student, this is based off the first $4,000 of qualifying educational expenses.

Homeowners that make improvements to their existing homes that are energy efficient can claim a credit of 30 percent of the cost of all of the upgrades, up to a maximum credit of $1,500. This covers things such as adding insulation, energy efficient exterior windows and energy efficient air conditioning and heating systems.

Last year was harsh for a good deal of workers, and layoffs hit record levels. However, unemployment compensation is considered taxable income. But now, the first $2,400 in benefits is excluded from income.

Because of the Bicycle Commuter Act, cyclists will receive reimbursement of workplace transportation costs into a tax favored account and bikers can utilize the cash to put towards purchase of a bicycle, helmet, bike lock, bike parking fees and general bike maintenance.

Also, if you pay your income tax by credit or debit card, you can deduct the convenience fee that will be charged for the transaction. The card fee, as well as any other IRS approved miscellaneous deductions must exceed 2 percent of your adjusted gross income before they will count. Despite the fact that this measure limits the value of this break for many, filers with substantial expenses to claim should be sure to add the card fee.

I work for a national collection agency. Use collection letters for judgment enforcement. This article, Tax Laws That Can Help During Tax Season is released under a creative commons attribution licence.


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Feds Arrest Two In Buffalo For Debt Collection Scam

March 11th, 2010

The U.S. Attorney’s office forwarded a criminal complaint Friday in U.S. District Court charging Timothy E. Arent and Neil G. Wieczkowski, both of Buffalo, N.Y., with mail fraud and conspiracy to commit mail fraud. Arent is also charged with bankruptcy fraud. The charge of mail fraud has a maximum penalty of 20 years in prison and a $250,000 fine. The bankruptcy and conspiracy fraud charges each carry a maximum penalty of five years in prison and fine of $250,000.

Assistant U.S. Attorney MaryEllen Kresse aforesaid the complaint claims that, from September 2005 through the present, Arent and Wieczkowski were engaged in a false debt collection scheme in which they pressed monetary payments from their victims by means of false pretenses, false impersonation and false representations. The complaint states that the victims were individuals who at one time or another owed some type of debt that had gone into collection status.

According to the office, Arent and Wieczkowski underhandedly told their victims that the victims had failed to respond to summonses, which would result in their imminent arrest. It is further alleged that Arent and Wieczkowski told the victims that the only way they could avoid apprehension and detention by law enforcement was to make substantial monetary payments, usually in a matter of hours. The complaint also charges that the defendants tried to avoid detection by altering the names of their businesses up to 18 times, and by using mail drops and “virtual offices.” Deposits into accounts used by the defendants’ businesses during the scheme were more than $8 million.

The complaint also alleges that Arent filed for Chapter 7 bankruptcy relief in 2005, and that, during the proceedings, Arent fraudulently withheld information from the Bankruptcy Court. The complaint alleges that Arent failed to disclose to the Bankruptcy Court that he had bought a 4,700 square-foot residence in Buffalo worth $500,000 before the bankruptcy, and that, after filing for bankruptcy, he was actively engaged in debt collection work through two corporate entities. Arent’s debts, as well as two civil judgments that had been filed against him concerning his pre-bankruptcy debt collection practices, were discharged by the bankruptcy court in 2006.

Arent and Wieczkowski appeared before Judge Scott Friday afternoon. Ms. Kresse moved for pretrial detention. Judge Scott granted the motion pending a detention hearing scheduled for October 6, 2009 at 2:00 pm EST.

I work for a third party collection agency. Contact a collection lawyer to collect on commercial debts

categories: law,crime,fraud,debt,debt collection,delinquency,loan,credit,personal finance


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Pay Up Or Ship Out: Town Demands Debt Recovery

February 20th, 2010

In the village of Stamford, Connecticut, the town is threatening to sue a car dealership, Carriage House in order to get it to pay $7,450 in fines for forty five false burglar alarms over six years. There was a total of thirty one property owners that got notices on January the fifteenth that were demanding payment for false alarm fines. They were told to pay the money within thirty days or face legal action.

The town is owed $74,375 in fines and this is the first time it has taken such a firm stance on collecting debt. Out of the thirty one people that got a notice, thirteen have resolved their debts.

Residences and businesses are permitted to have one false alarm a year without being penalized with a fine. The system goes like this: starting at fifty dollars for a second false alarm, one hundred for the third, one hundred and fifty for the fourth and two hundred dollars for each false alarm after, businesses are fined accordingly.

The town does not use a collection agency, or charge interest on unpaid fines, which might be why they are having trouble cutting down on the problem with false alarms. The owner of the car dealership fingered a faulty alarm system as the source of the problem and alleged that he would get to the bottom of the problem within a week, but this hasn’t happened.

The owner plans to schedule a March hearing before the appeals board in order to fight the fines. Claiming that it was the fault of the alarm company, he stated that he is trying to get the alarm company to pay for the debt. However, he was not able to identify the alarm company, stating that it had changed ownership so he was not clear on the name.

In all fairness, the town will discount false alarms that have happened that may have been the fault of the alarm company. But for now, the car dealership remains in arrears.

I work for a third party debt agency. Find out more about debt companies online.

categories: debt,delinquency,personal finance,loan,credit,legislation,mortgage


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