The 2018 tax filing season ended on April 17. For three-fourths of filers, they received a tax refund from the Department of the Treasury. Not everyone is quite so lucky. Some filers received notices from the IRS that they owe taxes. You could face several consequences if you owe the IRS money and are unable to pay. The IRS could garnish your wages to satisfy the tax debts. In addition, they could also place liens on physical properties or levies on bank accounts. You can discharge many debts by filing for bankruptcy. It is more difficult to discharge tax debts. The good news is that is not impossible. You may be able to discharge tax debts in bankruptcy if you meet all of the following criteria. You have income tax debt. Only income tax debts are dischargeable. You cannot discharge other types of taxes in bankruptcy. The taxes are at…
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If you’re considering bankruptcy, you probably never imagined yourself in this position. Depending on your personality, you might feel embarrassed, stressed, or uncertain. It can even make you question what “kind” of person you are. While it’s natural for the bankruptcy process to have an impact on your emotions, don’t let it cause an identity crisis. You can be doing everything right, and still find yourself financially upside down. In fact, some of the most successful people in history have been exactly where you are today. Abraham Lincoln, Walt Disney and Henry Ford are on the list of formerly-bankrupt Americans. And like you, they probably experienced some of the emotions that are typical of each of the steps of the bankruptcy process. The consultation We’re not here to judge you. More than anyone else on the planet, we attorneys know that many people filing for bankruptcy are stuck in that…
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Your credit scores can have a major impact on several areas of your life. These scores, which are calculated from the information in your three credit reports, determine where you can live and which loan terms you receive from lenders. Credit scores can even affect the type of job offers you receive. If you have poor credit scores, the good news is that they are not permanent. You can always adopt new personal finance habits to improve your credit scores. The following personal finance habits may help you achieve this goal. Pull your credit reports often. Pull your credit reports as often as possible. You can pull your reports from Equifax, Experian and TransUnion once per year for free. However, you should try to pull these reports twice per year at a minimum. If you are able, try to pull your credit reports once every four months. Look for mistakes,…
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*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at (816) 561 1818.
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