Chapter 7 is a powerful tool that stops creditor activity. You can get rid of credit card debt, medical bills, repossession and foreclosure deficiencies.
If your tax bill is over three years old and you filed those taxes at least two years ago, many federal and state income taxes are dischargeable (wiped out).
You can exempt up to $175,000 in home equity.
From filing to discharge and financial freedom can take only three to four months.
We will work with you to get the best solution for your financial situation. We will only suggest bankruptcy filing if it is in your best interest. You may only need debt negotiation. Come in for a free consultation and financial check-up.
We have 20 years of experience. Know what your options are. Call us today.
Even if your taxes aren’t old enough to be dischargeable in bankruptcy, you can still pay them through a Chapter 13 plan and have a lower payment than with an IRS installment agreement.
Typically, the sheriff serves paperwork on your employer that forces your employer to withhold a portion of your wages that is then sent to the sheriff. The sheriff then sends the money to a creditor, or creditors, who use(s) the money to pay down your debt.
Garnishments based on ordinary debt are generally limited to 25% of your pay (after taxes and after ‘mandatory’ deductions); but garnishments for some debt, such as unpaid child support, can be as high as 60%. In any case though, a garnishment may not leave you with a weekly amount of less than 30 times the hourly minimum wage.
A wage garnishment can remain effective until the entire amount of the judgment is paid off.