Tips for getting best tax relief lawyers.

There are several convenient choices accessible for the people to pay their taxes on time. Online tax payment system is becoming extremely popular on the list of individuals as hassles of planning to tax department, availing forms and filling them manually has been completely removed. Numerous people still neglect to pay their duties inside the evaluated time limit. The state takes strict activities against the people who delay or escape tax payments for a long time. Hence it comes to be extremely paramount to have complete understanding of the tax collection process.

Individuals, who are getting through financial hardships or are set to experience one, must get expert underpin. There are numerous organizations, which assists tax defaulters in getting a reasonable result of their problem. The experts working in these agencies have immense experience of the domain and are well-aware of the tax collection procedure for IRS. Following are some steps using which you will get best tax relief lawyer:

Find several lawyers:

You ought to have the capacity to get several tax lawyers which are available. Look on the web, in the business directory, and request from other individuals that you know referrals. Aggregate a rundown of no less than 5 of them that you can contact. Record their names, areas, hours, and site data.

Evaluate each lawyer on your own list:

Take that record and evaluate each tax lawyer that is on it. You need to have the ability to discover to what extent they have been in business. You additionally need to get some answers concerning their certifications. Keep in mind to look at the Better Business Bureau also. There you can discover if there are any complaints about some of the tax lawyers on your own list. Mark out some of them that you can't find any informative data on or that you find loads of negative data about.

Schedule free consultations:

Those legal advisors that are still on your record ought to be contacted to schedule free consultations. Don't put off doing this as it may take a few weeks before they have any opening that fits your timetable. You ought to have the ability to timetable such a conference online or via telephone.

Have questions willing to ask:

It is an exceptional thought to have questions prepared to request each tax lawyer that you counsel with. You need to discover how they may have the ability to best help you with your specific tax situation. Don't be modest about requiring from them data.

Discover their experience:

You can discover the qualifications of a tax lawyer on the web. Like where they headed off to class and when they got their licensing. Yet you need to discover more about their tax relief experience. Inquire further how many cases they have represented. Ask them what number of cases they have spoken to. Get some information about the conclusion of their cases.

Cost:

Once you select your tax lawyer, you do need to converse with them about the expense. A large portion of them will request a retainer fee upfront. At that point they will be ready to work with you on the payment for the rest. Be honest about your accounts and you will regularly uncover that they are eager to work out some plan that isn't set to be a load on your plan.

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Tips for getting a new mortgage after bankruptcy

It is not difficult to declare bankruptcy, but it's unusually difficult to bear its brunt. You feel helpless, vulnerable, insubstantial and ineffective. Suddenly, everything appears to be out of reach and out of control. In such a dreary situation, you can't even consider taking another mortgage to purchase a home. Though you might have declared bankruptcy, this doesn't imply that you can't think about getting a mortgage after bankruptcy.

Getting a mortgage after bankruptcy should indeed be challenging yet it is not impossible. The mortgage lenders or the bank will be stricter in examining your credit value. You should never hide the truth that you have declared bankruptcy previously. They'll eventually know it from your own past credit records. However the circumstances under which you declared bankruptcy does matter here. There could be cases wherein the individual declared bankruptcy out of carelessness in managing his finances or there could be a case wherein a person declared bankruptcy due sudden business loss.

• Be very frank and honest

Before authorizing you a home credit, the contract organization might utilize diverse ways and intends to discover everything about your money related health and your credit value. Thus, don't conceal your bankrupt status. Never even think to hide your true identity or present fake documents; this practice is totally illegal. Instead, be overtly frank and honest.

• Create New Credit Lines

Don't permit your bankruptcy to overpower you; rather strive hard to make another starting. Make new credit line by requesting new charge cards. It's advisable to begin with secured credit cards. Such cards permit you to raise your credit by utilizing your own supply of money.

• Start improving your credit report

The following step is to begin enhancing your credit report. Check your credit report regularly to weed out all of the errors and inaccuracies. A great thought might be to captivate an organization that explicitly screens credit reports. Such an agency wouldn't only handle your credit report efficiently, as well as arrangement with all the suspicious and abnormal exercises in your account effectively.

• Pay your entire bill promptly

Another important thing that you have to do is to pay all your bills on time.

Likewise you should check your credit report consistently so you know which record to work upon. Additionally discover and dispose of any incorrect entry in your credit account. If you see any incorrect transaction instantly report it to the concerned organization and get it corrected. Just remember that any transaction on your credit report will affect your credit score and eventually the sanction of one's mortgage loan.

Remembering all these components, work towards the objective of getting the mortgage approved. A simpler method for checking assuming that you meet all requirements for one is by taking the preapproval route. It is very basic, quick and exceptionally advantageous, something that you can sit at home and do. Be assured that, even if you may not get the quantity of your decision approved, these straightforward steps can greatly improve the situation and prop you up monetarily.

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how Chapter 13 Bankruptcy Is Better Than Chapter 7

When it comes to bankruptcy filing there is a tendency for most debtors to choose Chapter 7 over Chapter 13. Most debtors believe that a Chapter 7 is easy to deal with as it wipes out the debts while in Chapter 13 a debtor needs to pay back some portion of the debt. Also a Chapter 7 case is usually opened and closed in less than six months compared to a Chapter 13 filing which may go up to 5 years. However using this logic may not always be the smartest thing to do as Chapter 13 does have its advantages over Chapter 7 and here we shall discuss these in this write-up.

Intentions of Repaying

If you have sincere desire to repay your debts but need the extra bit of protection from the creditors and their agents you should file for a Chapter 13 bankruptcy as it gives you all the necessary protection to pay back the debt as per your convenience. Chapter 7 doesn’t let you do this as immediately after you have filed for it your assets are liquidated to pay back your debts. This can severely affect you in the long run.

Tax Obligation/Student Loan

If you have a have a tax obligation or a student loan these cannot be discharged in Chapter 7. In fact state tax authorities can levy your bank accounts or target your wages. If you are filing under Chapter 13 you can include all these debts and pay them over a period of time which is convenient to you. Thus Chapter 13 proves to be beneficial over Chapter 7 when it comes to filing for bankruptcy with student loan and tax obligations.

Property Rights

One of the biggest advantages of Chapter 13 over Chapter 7 of bankruptcy filing is to do with the rights of the property. If you own non-exempt property such as a house, a boat or a vacation cottage you can keep hold of them once you file for bankruptcy using Chapter 13. In such a case your plan has to pass the “Chapter 7 liquidation test”. This means that you must pay your creditors the least amount of money that they would have got in Chapter 7 liquidation and enjoy rights over your property.

Car Loan

If you have fallen behind in repaying your mortgage or car loan and want to avoid the lender from repossessing your vehicle you can make use of Chapter 13 filing. Under this plan you won’t be required to make payments as agreed upon in the original agreement. Rather the payment would be determined by what you need to pay in the new chapter 13 plan. Here the payment is made to a trustee who in turn disburses the allotted funds to the lender.

CoDebtor

There are often occasions when we have a co-debtor (mostly friends and family members). If you are filing Chapter 7 the creditors can go after your co-debtor to recover their dues. This bankruptcy chapter provides no relief to the codebtor. You can avoid such an unpleasant situation by filing under Chapter 13 as the codebtors are exempted from kind of collection as long as you keep up with the payment terms agreed upon. These are some of the situations in which filing for Chapter 13 proves to be advantageous over Chapter 7 filing. It is advisable that you consult a professional bankruptcy attorney while filing as he or she will guide you through the process and ensure maximum protection and exemptions for you as permitted under the state and Federal law.

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How Wage Garnishment Works and How to Avoid It?

Wage garnishment is one of the last resorts in debt collection when a debtor is unwilling or unable to pay back his creditors as per the terms and agreements previously agreed upon. This hurts the debtors as a part of the wage is deducted by the employers and paid directly to the creditors. It not only hurts the debtor financially but also creates a bad impression in the eyes of the employer who is bound to deduct a portion of the wage by a court order. With the law prevents the employer from firing the employee whose wages are being garnished second or third wage garnishment order depending on the state takes away such protection.

How Does It Work?

Once the debtor defaults on the repayment and the creditor has decided that it cannot collect the outstanding amount it would usually sell the debt to a debt collection agency. If the agency is unsuccessful in recovering the debt it usually takes the legal course in the interest of its client. A lawsuit is then filed against the debtor in an attempt to recover the outstanding dues. The court then passes an order directing the employer to garnish wages from the creditor.

Wage garnishment will take into account all the basic requirements and allow only a portion of the pay to be garnished. This amount to be garnished varies from state to state, for instance in California the law allows less than 25% of the wage to be garnished from the pay. It also protects the deductions that a person is legally required to pay such as federal, state and local taxes, unemployment insurance, state employee retirement system payments and Social Security payments.

How To Avoid Wage Garnishment

• The best way to avoid wage garnishment is to negotiate with the person or the organization to which you owe money. You can explain your financial constraints and work out a payment plan that suits your current financial situation without your wage having to be garnished. Although creditors aren't any legal obligation to accept your request in most cases they do so to avoid hassles associated with wage garnishment.
• If this doesn't work out with your creditor and you are facing financial constrains as a result of wage garnishment you can file for a "Claim of Exemption" in the court to stop wage garnishment. Here you will need to show the court that you are unable to meet your basic living costs due to wage garnishment and get a stay on this.
• Filing for a bankruptcy should be your last resort in avoiding wage garnishment. Here you will need to approach the court and the bankruptcy judge will issue a stay on almost all wage garnishments (child support is usually exempted from this). However filing for a bankruptcy has its demerits to and you should take those into consideration.

Ideally you should approach a wage garnishment attorney who will take your situation into consideration and help you choose a path keeping all your interest in mind.

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What is the Procedure To File Bankruptcy Easily?

A debtor has to face a harrowing time while dealing with creditors when he or she is neck deep in debt. Thankfully, it is possible to opt for bankruptcy to get relieved from all types of debts and start with a clean slate. However, recent change in laws has made filing bankruptcy pretty tricky. Hence it is essential that one gets complete information about filling bankruptcy and its pros and cons. Following few lines will help you in understanding the process.

When bankruptcy is filed, an automatic stay is granted, which prevents the creditors from attempting to collect their money or seize the assets of the debtor. Partial or complete relief from debts might be granted by the court. Going for it can be considered in the following situations:

• You have been unemployed for long and can no longer collect unemployment benefits
• Your creditors are considering to sue you or have already done that
• You fear your home getting repossessed

Hire an experienced lawyer

Filing bankruptcy is not straightforward at all and it involves a great deal of complicated paperwork. If you fail to perform the correct paperwork, your case will be thrown out in a jiffy. You may want to hire an experienced lawyer to help you out in filing bankruptcy. Owing to the intricacies involved in the process, you need to opt for someone who has sufficient experience in helping individuals in filing the same in the past.

Check the fees

Your lawyer is going to charge some amount for his or her services, which can be either a flat fee or an amount depending upon the debt. Mostly, it is better to go for a lawyer who charges a flat fee. The lawyer’s fee needs to be paid well in advance as your lawyer cannot be your creditor under chapter 7 for bankruptcy. You may enter into an agreement with your lawyer and pay his or her legal fees at a later point of time.

Then there are the court filing fees, which are around $200 in most of the cases. This fee needs to be paid within a reasonable period of time after filing bankruptcy.

Types of bankruptcy

Chapter 7 bankruptcy: Chapter 7 bankruptcy is the most common type of bankruptcy. It involves complete cancelation of debts and the individual filing for Chapter 7 bankruptcy can keep the protected properties. However, the property which is not exempt from waiver needs to be handed to the creditors.

Chapter 13 bankruptcy: Chapter 7 bankruptcy involves setting up a repayment plan, which can be between three to five years. You will have to pay back your creditors complete due amount within this period. Most new individuals are forced to file for Chapter 13 bankruptcy.

You will undergo credit counseling, where you will be provided consumer credit counseling by a court appointed entity. Here, your eligibility for filing a particular type of bankruptcy will be checked. Your lawyer should assist you with every aspect of your training.

Complete the filing:

After the specifications of your filing have been agreed upon, your lawyer will file bankruptcy petition on your behalf. You will be asked to attend a meeting with your creditors, when they will ask questions and you will have to provide truthful answers to everyone’s queries.

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What is Wage Garnishment and What Are its Limitations?

Wage garnishment applies to some amount of the wages that an employer would need to withhold as repayment for debt of an employee. The same amount is handed over to the creditor. Wage is garnished when a person who owes debt is unable or unwilling to pay back the due amount as per the agreed upon payment terms. For many creditors this is one of the most potent ways of recovering their bad debts. Wage garnishment can also be one of the last resorts for the debtor to pay back the due amount.

IRS is one institution that regularly uses this to recover its dues. Apart from IRS wage garnishment can also be used by state governments, private creditors or even ex-spouse demanding alimony or child support. In addition to garnishing for taxes, federal and state governments can seek to attach wages if a person defaults on government-backed student or business loans.

However wage cannot be garnished without obtaining a court order. For this the lender will have to file a lawsuit and once the judgment in the lender's favor they can more to the employer and can have a certain portion of the wage garnished to cover their debt along with the interests. In case the employer fails to garnish the wages they are held accountable and have to pay the due amount. However some creditors can garnish wages without obtaining a court order and they include the IRS and the Department of Education. They can set notices to employers to start garnishing wages as soon as they take up any case.

Limitations of Wage Garnishment

Wage garnishment laws and their clauses can differ from state to state but they have the same clauses on most occasions. Let us take the wage garnishment laws in California and take a look at the limitations of that these laws have. In his regard the Federal law has strictly limited the amount of money that can be garnished from a paycheck. According to this law the state must provide as much protection to the debtor as the Federal law does. They can provide more protection to the debtors as per their discretion.

There have been recent amendments to the wage garnishment laws in California and effective July 1, 2013 law in California offers more protection to the debtor than the Federal law. If a debtor earns the minimum wage as specified by the law or close to the minimum wage there are strict limitations that the courts need to adhere to while deciding on a case of wage garnishment. The creditors are allowed to garnish less than 25% of the debtor’s disposable income for any workweek or the amount by which a debtor's weekly disposable earnings exceeds 40 times the state hourly minimum wage. The current minimum wage per hour is $8:00. Also disposable income is calculated after all the necessary deductions as mandated by the law.

If you are likely to face wage garnishment it would be advisable that you immediately get in touch with an attorney who would advise you with your case and how to avoid wage garnishment.

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How to Prevent Wage Garnishment Before it Starts?

IRS can be notorious at time when it comes to collecting taxes. If you owe back taxes or unfiled tax returns one of the ways in which they can recover these dues is through wage garnishment. In fact this is the most popular force collection strategy that is adopted by IRS. Your employer must adhere to their instructions or IRS would make them liable for the amount due. In case you wage isn’t garnished you and your employer are immediately sent legal notices. Once the wage garnishment process starts it is very difficult to stop it. So the ideal way to stop wage garnishment is to avoid it in the first place. Here we shall discuss a few ways in which you can stop wage garnishment before it starts.

• Install Payments -There is a policy of the IRS where they allow you to pay back their dues in installments instead of garnishing your wage. This is applicable when you aren't being able to pay the taxes and your outstanding taxes and penalties are less than $50,000. In such a case you can suggest an installment to the IRS. The due taxes and penalties are considered a loan from the IRS. They will charge you a small administrative fee and also interest which is much less than what you pay for your credit cards. You can visit their website and apply for an installment plan online. Once accepted it saves you from the ordeal of wage garnishment.
• Offer in Compromise - This is another way in which you can avoid wage garnishment by the IRS. Here you will need to prove them that you are not in a position to pay the full amount that is due. Along with this you can make an Offer in Compromise (OIC). Once this is settled IRS might revise your taxes and penalties to an amount that you are able to pay. However before you opt for this you need to go through all the terms and conditions carefully and not just try and think of this to be a loophole that you can exploit. There are great chances that your case would be rejected.
• Poverty - You can take this step after you have received your wage garnishment letter and before the garnishment has started. In this case you will need to make a claim that you are too poor to make any payments to the IRS and wage garnishment would deny you the basic necessities of life. In many such cases the IRS would hold up your wage garnishment for some time. However once your situation has improved IRS would come back to haunt you. So this step gives you merely temporary respite if you haven't thought of an alternative.

To avoid wage garnishment and forced collection from the IRS you would need to take advise from a professional tax attorney. He or she will study the minutes of your case and come out with a solution that prevents your hard earned wage from being garnished.

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How Personal Loans are Helpful to Pay Your Debt with Minimum Interest Rates?

Having a huge debt is like entering a vicious cycle as it takes a lot to come out of it. When you have multiple debts to care about it can be quite a challenging task to clear all of them without compromising with the basic needs of your life. High rate of interest adds to your woes as you will be paying of huge sums of money as merely interest. One of the best ways to pay all your debts at minimum interest rates would be to opt for personal debt consolidation loan. This is a tried and tested formula that has helped debtors clear off huge sums of debt.

Personal debt consolidation loans are like any other personal loan with the only difference that they merge or consolidate all your existing loans into one. For instance you might be having different loans to take care of such as auto loan, student loan, credit card loans, house mortgage and other loans. Here you can avail a personal loan at low interest rates helping you pay back all your debts at minimum interest rates. Here you will need to pay interest only on the debt. Such loans can be availed for a period ranging from 5 to 25 years however this period may vary at the discretion of the lender.

Secured And Unsecured

Personal debt consolidation loans are available both secured and unsecured forms. If you are planning to avail secured personal debt consolidation loan one of your properties will have to be pledged as collateral. By doing so, you can avail these loans at low interest rates. On the other hand you can avail an unsecured personal loan with no collateral but in such cases you should be prepared to pay a higher rate of interest as this will cover the lender’s risk factor involved.

Advantages of Personal Debt Consolidation Loans

• Lower Payment Amount - As we have discussed earlier due to the lower rate of interest you will have to pay a much lower amount compared to paying all your loans at higher interest rates. Also this might help you write off all your debts in a shorter period of time.
• Availability - There is intense competition among lenders and thus you can strike a good bargain availing such a loan. With a few mouse clicks you will be able to get free quotations for dozens of lenders and compare all their terms and conditions to zero one that is most beneficial to you.
• No Credit Check - To avail a personal loan debt consolidation you don’t need to undergo credit check. If you have a poor credit score you won’t be able to avail most loans as a credit check is mandatory. However in this kind of loan you don’t have to undergo any such checks. However lenders might charge higher interest rates to cover their risks.
• Convenience - Since you will be merging all your debts into one it adds to your convenience factor. You won’t have to make multiple payments every month instead you make a single payment which is also less frustrating.
• Tax Deductible Interest - There are some personal debt consolidation loan where the interest that is paid on the loan is tax deductible.

There are a number of banks and financial institutions that offer you such kinds of loans and you can easily avail them. It would be wise to seek the help of a loan consultant before availing personal debt consolidation loans as they will guide you in choosing the right kind of personal debt consolidation loans that suits your needs.

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Why it is Essential to Consult a Doctor before Filling Medical Bankruptcy?

Bankruptcy is everybody's worst nightmare and there can be nothing worse than leaving your home and other assets which are important to you and close to your heart. Though bankruptcy can be occurred due more than one reason, heavy medical bills and expensive medical treatments still come up to be the biggest reasons for bankruptcy in States. Patients with terminal problems who surpass their capacity to pay the mounting bills aren't left with any hope apart from bankruptcy, which is why medical bankruptcies are a common scenario. Also, the fact that the treatment and the bills have to be continued even after the bankruptcy is filed is another reason why medical bankruptcies are so frequent. However, a few patients have faced a lot of problems after filing medical bankruptcies and consulting a doctor before you file it has become necessary now. Let us know why.

Bankruptcy basically is a safety that you acquire after you have proven to the bankruptcy court of law that you do not hold the capacity to pay your debts and this financial safety helps you make a fresh start and pay off the old debtors. However bankruptcy cannot be filed again and again, or serially, as you may not be eligible to file it again as there are various clauses concerning the second bankruptcy which you might not be aware of. This is the reason why before you actually file it, it is a safe bet to consider all the pros and cons and get your finances in place before you fall in to deeper trouble.

In cases of medical bankruptcies, you should be aware of what the patient's condition is and checkups should be done beforehand. This is because you want to be very sure that apart from the ailment you are facing right now, there is no other problem which might need expensive treatment earlier. This is obviously because if you are not in a condition to pay your bills for the current treatment, you will not be able to take care of the expenses of another ailment that might rise up later. This is why, to save yourself from being at a spot where you again face bankruptcy, getting a check up is very important.

Another reason why you must consult your doctor before you file a bankruptcy is because you want to consider every alternative before actually choosing bankruptcy. The doctor who has been treating you or any other concerned patient knows the condition well and he or she might be able to guide you in terms of any cheaper medicines and medical treatments which might be available at any other facility. This could actually save you from filing a medical bankruptcy. Also, if something like this an unexpected ailment shows up in your checkups, your attorney can even postpone the filing bankruptcy so that it is also included in the filing and you are saved from the extra trouble. These are a few reasons why a doctor should definitely be visited before you file a case of bankruptcy.

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What are the steps for choosing A Right Tax Attorney in California?

When one is charged with an offence, the problem is not how the courts are going to decide on what to do with the individual but, how the person is going to identify a professional specialized lawyer for the case. There are various factors to consider before engaging the lawyer, for instance; experience, time, price and ability are all crucial in finding a winning lawyer. Knowing the personality of the lawyer and perhaps hi/her staff is an important determinant on how the lawyer is going to argue out your case. One must maintain a positive attitude and a good relationship with the lawyer.

In getting the right tax attorney, it is of the essence to get a criminal defence attorney who has a fair background in financial matters. As a business person or a domestic person seeking a right tax attorney, it is vital to avoid temptation of getting a friend attorney or a referred attorney by a friend. An attorney who has handled similar right tax cases in California is aware of the outcomes expected in a case.

Public defenders are reserved for individuals who are unable to afford a private attorney. Public defenders have little or no time to listen to your tax problems. In the same case, public defenders suffer limited resource pressure hence dedicating less time for your case. These factors will definitely result to less justice because a public defence attorney tries to concentrate on more than 200 cases in court. Research done by the Justice Policy Institute shows that in Los Angeles County, California, Public defenders are on the verge of handling more than 300 cases; a number too high from the recommended 100 by the American Bar Association.

Public defenders are sometimes promising on how they handle cases but may be overwhelmed by their mandated duty. This may negatively impact on a winning tax case. It is also important to determine the kind of attorney qualities that are important to you as a person. Do you require a renowned lawyer who has no tax law background, or do you need a young lawyer with a tax law background but is still struggling to compensate for lack of experience?

Finding the ideal lawyer may be difficult since there are many requirements to consider. Getting any criminal lawyer is never sufficient for one to win a case. On the other hand, finding a lawyer who is experienced and has all the qualities you desire may be costly. Never show desperation when approaching a qualified lawyer since they tend to overcharge once they have adequately read the body and mind language of the client.

If the tax case has ample time to tackle, it is of the essence to find an attorney who belongs to a particular legal law organization. The minimal prerequisite is that the lawyer should be a member of the County and State Bar associations. Attorneys, who are members of specialized associations such as the National Association of Criminal Defence Lawyers, have added advantage to clients since such associations symbolize high levels of professionalism.

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How High Medical Costs are The Essential Factors for Bankruptcy?

With the increasing lifestyle diseases in the United States, it is evident that the majority of the ageing and middle aged populations is suffering from expensive medical costs. The scenario is no different from what is happening around the globe. High medical insurance premiums from private insurance companies have forced the majority of the families to ditch the medical insurance schemes leading to looming bankruptcy at times of medical situations.

Even if a family is insured, there still exist indirect medical payments resulting from out of network specialist visits who charge exorbitantly per medical check-up. Chronic illnesses mainly attributed to lifestyle diseases such as cancer have led to financial ruin of various families. Extensive costs arise from prescribed medications and drugs, hospital stay and doctor services. Nowadays, even the diseases that require outpatient services have become expensive due to nature of machinery involved in diagnosing the medical problem. The faster the laboratory services the hefty the pay. Ultimately, the cost of medication has gone up and since anyone can fall sick, the private medical institutions are taking advantage of the low quality services offered by state owned medical institutions.

Indirect costs such as loss of work hours resulting from illness further drains the saved money and resources. In most cases, the bread winner of the family falls ill leading to strained family upkeep. This has definitely resulted in bankruptcy even if the family was insured against medical expenses. In many cases, the spouse of the sick person or a parent may lose some working hours while taking care of the sick. This will result to underpayment if the working spouse is paid in terms of wages. The cost of nursing a sick person is so huge that the insurance cover alone cannot compensate. The use of credit cards to cater for medical bills has resulted to a more disastrous financial devastation as compared to conventional pay. The medical debt simply converts to a consumer debt for which the client is subject to hefty fines if the premiums are not paid on correct time and exorbitant interests that results from the consumer debt.

The consumer debt limits one from securing a house mortgage or passes a credit check for job recruitment. If a qualified person is unable to secure a well-paying job because of credit debt, then the family is bound to suffer from bankruptcy.

Since most insurance companies are hectic to follow for medical compensations, many Americans engage in out of pocket payments which are deemed expensive. The lack of national social insurance fund in some regions has subjected several families to the expensive private insurance firms. Some of the working class citizens are forced to pay for insurance premiums as per their job requirements. With the ever rising cost of living, deducting insurance premiums from an already underpaid individual definitely leads to bankruptcy.

The government has enough to do in terms of making some medical services free, subsidizing the cost of medication and medical drugs. On the same note, stringent laws need to be passed to regulate insurance policies to cushion citizens from high medication fees.

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How Debt Consolidation Helps Young Generation to Avoid Their Credit Card Debt?

Young people have a completely different nature altogether when their life is beginning and much more of adventures, impulsivity and fervour lies in it. One of the biggest factors of dealing with life independently are finances which if not handled properly can go out of control and the problem can lead to legal aspects like bankruptcy at a young age. Definitely, none of us wants that to happen to ourselves, which is why we need to keep our expenditures in check. Credit cards are surely important to us, not only because they provide us an easy way out with things but they can be extremely useful when there is an emergency. However, credit cards can prove to be a curse if your debt has grown more than you can handle and it isn't something uncommon to see a person battling to pay the credit card debt. If you are one of us who spent without a worry and are facing problem, debt consolidation is for you. Let us know how.

Debt consolidation is basically a plan which helps you in paying back the unsettled debt which you have accumulated over time, and now are unable to pay. This plan is usually a loan which has been taken up to pay back other loans and holds a number of benefits, the biggest one being low interest rates and easy debt settlement. With the help of these plans, you can even protect your credit rating and lower the monthly payments which you have to make to come out of the debt. All this helps you in saving yourself at an easier and a much faster pace. When it comes to credit cards, the same is the case as though you can’t think of running away from the debt; you surely can pay it off easily. All you have to do is apply for a loan with a reputed debt consolidation plan company and the problems of high interest rates will be solved. With the small interest rates, not only will you pay the debt in an easier manner but also save a lot of money considering now you do not have to worry about the high interest rates charged by the credit card companies as you will be able to deal with them easily. This means that you will have more money on you compared to older times.

Once you have applied for the debt consolidation loan, you have to discuss your case with the company's representatives and then work on a low-cost solution for your problem. The debt consolidation plan which you get is affected by the current credit scores you have and this will determine the money you get in the loan. Overall, it is an easy and a simple process as now you just have to save up and pay off the small monthly instalments without working overtime or taking up a second job. Young people can now easily work their way through debt without really sacrificing their youth.

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How Bankruptcy is useful for California High School Students?

The student loan debt has increased tremendously from the year 1999 to a soaring 500 percent in 2010. This means that the students' debt exceeded the outstanding credit card debt. $ 1 trillion is the total outstanding student loan debt in the year 2012 and is bound to increase this year. Many approaches have been crafted to curb the escalating figures for instance; trying to reduce the High School costs. Currently there seem to be only two doable proposals intended for lessening the burden of students in California. The first proposal allows the loans to be discharged in bankruptcy. The second option is to forgive the loans altogether. Both the two proposals have been subjected in the congressional bills.

Only one of the above proposals has the considerate long-term incentive effects. However, in order to make the proposal workable, it must be hedged with some agreeable restrictions. The obvious restriction is reinstating limited bankruptcy security. This means that the students will be allowed to get out of their own loan burden as part of the procedural bankruptcy proceedings. Just as high school students are able to get out of their car loans, they can get out of their loan burden. The proposal states that this option is only applicable to private loans and should be accepted only after a specific period of time for instance 5 or 7 years as it was in the year 2005. The proposal for restoring bankruptcy security for private student borrowers has been tabled several times by leaders such as Senator Dick Durbin but has never been given a serious look till the figures reached a skyrocket high limit. This is so because there has been a steady chorus that favours loan forgiveness.

Hansen Clarke, a representative of the United States introduced the H.R. 4170, the student loan forgiveness Act 2012 in last year. This billed allowed students to pay a meagre 10 per cent of their discretionary income for ten years. It is irrespective of the total student loan amount; the then remaining debt will automatically be cancelled. This is what is referred as to the 10-10 standard. Though students are bound to benefit from the bills, the bills may impact greatly on the economy of the state. The Clarke bill will also lower the requirements in the public service therefore permitting more students to be employed by the public service.

While the student bankruptcy bill will benefit the larger proportion of California students who have extremely outstanding debt levels, it is bound to enormous change incentives for students and universities. This is likely to cause bigger problems in the future. The loan settlement effects will be the same whether the student borrows vigilantly to attend a state own school or borrow extravagantly to go to privately owned high schools. Both of them, their repayments will be covered at 10% of discretionary income for the ten years. Since future students will be aware of the loan forgiveness option, it will definitely destroy prudence in loan borrowing.

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How Bankruptcy is Helpful to Stop Wage Garnishment?

A debtor can fill bankruptcy to stop wage Garnishment. In some cases, filing bankruptcy can be used even to reclaim some garnished wages. However, there are some exceptions in such cases. When filled in an appropriate manner, bankruptcy has helped many debtors protect their wages.

The procedure for filing bankruptcy starts with a pre planning phase. This stage involves determining the type of filing that will be adopted such as an individual or a group filling. At this point, the debtor should take his time to learn all the bankruptcy filing procedures to eliminate possible sabotage cases. The next step will be gathering and filing documents. The debtor should know all the documents required where to look for them and other additional procedures required in filling the forms. The last part involves determining whether an attorney is needed. In case, the attorney is necessary, the debtor should contact the best team that could help his/her situation.

Filing bankruptcy brings into effect the automatic stay that stops collections by creditors. Wage Garnishment being a form of collection, as well, is stopped. Creditors can only continue with their collection by requesting banks to uplift the automatic stay. The court, on the other hand, will only uplift automatic stay, when beyond reasonable doubt, deems such request necessary. Automatic stay, however, never applies on domestic support obligations. It cannot be applied, for example, in alimony or child support. Such debt, according to a court ruling, is a priority debt that in no way can be affected. Domestic support Garnishment is immune to the automatic stay.

When a case is dismissed by the court, when the court orders a discharge or at the uplift of the automatic stay, an automatic stay stops functioning and collection starts. However, if the discharge is offered obligatorily such as in case of credit card debt the creditor is never allowed to assume collection even after the discharge. In case, the case is dismissed before discharge, the creditor is allowed to proceed with collection soon after the dismissal.

Wages gathered prior to filing bankruptcy can be recollected, however, only when some set conditions are met. There must be exception covering the wages. Additionally, bankruptcy must be filled within 90 days of collection. Finally, the aggregate value must exceed $600. If the conditions are met, a claim can be filed and through court order the collection will be returned. If the case is presided over by an attorney, the attorney's competency and the sum under question will determine court decisions.

Based on the debtor's state, a court may order an automatic stay immediately, or takes its time evaluating the matter. For a quick response, when filing bankruptcy, all the creditors must be listed, so that the bank notifies them immediately. Timing should be appropriate, that allows the court to make contact with all the creditors before they move into action. However, for immediate action, notification should be sent to the payroll department of the debtor company. On the other hand, the local police or levying authority, who collect garnished should be notified in advance.

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How Bankruptcy Works For Ongoing Medical Bills And Expenses?

Health is something which one spoilt completely, takes a lot of effort and time to retain, and health issues have always been one of the biggest reasons for bankruptcy in people. Health issues and treatments are something which cannot be ignored and paying continuous bills and rising debts drive a number of people to file bankruptcy. However, a number of people assume that once the bankruptcy is filed, the problem is going to be solved now. However, most of them forget that bankruptcy might solve debt problem but it doesn’t solve the issue of ongoing medical treatments which might continue even after the case has been filed as medical treatments are unavoidable and cannot just be discontinued. So the question which comes in our minds after reading this is, what happens to the ongoing treatments and bills once the person has filed the bankruptcy and mentioned below is the answer.

One of the biggest advantages you have in this whole case is the fact that no medical practitioner can stop giving medical treatment, if there is no money to pay debts. However, this doesn’t mean that you do not have to pay the person and the debt is being accumulated. For this reason you need to contact a bankruptcy lawyer who has experience in medical bankruptcy issues, (also known as Fort Worth Bankruptcy attorney). Once you have appointed a good attorney, it is time to sit with him or her and devise a good strategy which will help you in determining what sort of a plan you want to go for, for your debts and ongoing medical bills, and what will be the best point to file a bankruptcy case.

It could be possible that your medical debt has increased so much that now it is not possible for you to wait for some more time to get done with a few important treatments and then file the bankruptcy case, which means that now you are under more pressure and need to get free from the rising debts continuously. This is a crucial time and you cannot afford to not let a lawyer do the math for you and decide as to which chapter of bankruptcy is going to be suitable for you. Also, A lawyer can also help you in receiving automatic stay grants, which will come up as a temporary relief to your problems. This breather will help you think better and more clearly and you will be able to decide if you want to go ahead with the rest of the process or not. If yes, the attorney will help you devise a step by step plan and a solution for your case.

Apart from the legal part, you can also solve your problem of high debts and treatment costs by being careful and choosing generic brands which are less costly and equally effective. You can even consult your physician and consider his or her advice as to what will be more cost effective for you. These steps of hiring the attorney and watching your step will help you deal with bills even after the bankruptcy is filed.

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How to Select a Bankruptcy Lawyer in California?

Bankruptcy might be a way to earn money from different people and organizations, but people who are facing it personally know how big a task it is to deal with it, and complete all the related processes without losing it completely. Bankruptcy always is the last option you consider after all the options of paying the debts have been exhausted and this means that now you do not have anywhere to go to pay back your accumulated debts. In this scenario, doing everything without legal knowledge is not the wisest thing to do and hiring a bankruptcy lawyer seems a good bet.

However, with the rising number of bankruptcy cases, the number of lawyers has also increased quite a bit, and if you are living in California, the numbers are even higher. This has led to commercialization and it has become tough to decide which one is the best. This is why, you need to do a thorough research before you decide to select a bankruptcy lawyer in California, and mentioned below are a few tips you can use.

Choose the Ones Which Are Specialized

In your case, you want someone who knows what he or she is saying or doing and thus, just any lawyer wouldn’t do. This is the reason why you need to hire a lawyer who has specialized in the field of bankruptcies, and this can be done by researching on the internet on websites like the National Association of Consumer Bankruptcy Attorneys. Also, do not rush into things and get familiar with the lawyers’ work before you actually sign them up.

Research Well Before You Sign Up

Elaborating on the above statement, research is highly important before you actually decide to let the lawyer help you out. If you do not have a lot of knowledge of law and the qualifications required, it is time to check out their websites, read about the type of cases they have taken up and if they are similar to yours, their educational qualification, and the financial forms they have which will help you in deciding which chapter of bankruptcy you are applicable to. After this step, you will have a few shortlisted lawyers who are suitable for you.

Again, do not rush in and take appointments and plan for meetings so that you can meet them personally. This is because you want to be sure if the lawyer will be able to give time to your case. No matter how good the lawyer is, if he or she is not present when you need the advice, then the purpose of them on board is lost and you cannot afford that.

Do Not Assume High Rates as Better Lawyers

It has been found that the firms which advertise a lot have less lawyers and more of legal assistants, and you cannot fall for this. This is the reason why, do not think that if you hire an expensive lawyer will be more helpful, and you must hire the lawyer who has experience in your type of cases, time on his hands for you and passion for dealing with such cases. All these tips will be helpful in selecting a bankruptcy lawyer in California.

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How San Jose Bankruptcy Lawyers help you to come out from financial problems?

Bankruptcy has become a common thing in US, especially San Jose, and it is something which takes a lot of physical and mental strength to deal with. Bankruptcy process is one that involves a number of legal formalities and if you are someone who doesn’t have much knowledge about it, then you can fall for things you did not want to. In a procedure where others are also involved and not all of them have your best interest in their minds, it is good to have someone who can guide you on every step, someone who knows what he is saying or doing, and can warn you if there is any threat to your path. This someone who knows well about bankruptcy procedure can only be a good San Jose bankruptcy lawyer. San Jose lawyers not only have an in depth knowledge of these cases, they are available whenever you need them and they help you in making the right decision after assessing you situation properly.

There are a number of advantages of having a San Jose lawyer on board. Your lawyer will take away most of your work, and lighten your shoulders from the heavy brunt of calculations and assessments. If you have faced the bankruptcy then you already are going through so much pressure, and calculations of incomes, debts and other formalities just adds to the pressure, which a lawyer will take away. He or she will also help you in filing the forms, assisting in proceedings, considering and determining as to what assets are supposed to be sold to generate money and settle the debts, and also make sure that the payments are filed on time and as per they were scheduled. Most importantly, the lawyer will look at your situation and help you decide as to which chapter of bankruptcy you will file.

Usually San Jose bankruptcy lawyer have a good experience in handling the cases of bankruptcy, and because some on them belong to the law firms, they also have good contacts with outside and legal elements that can help you complete your work much faster, compared to your going alone and doing things. They are also helpful in negotiations with the creditors and get relief in debts, including IRS tax debts. Some people who feel they can handle the bankruptcy procedure on their own usually go through a lot of pressure as there is no one to guide or assist them, which becomes a huge problem when the situation is a delicate one. Due to the lack of a good lawyer, a number of people fall for false debt consolidation and debt settlement companies which trick people who are already suffering and extort more money from them, then what they had to pay. Lawyers also help in introducing better habits of planning and saving the expenses so that he doesn’t face similar problem of debt again. In fact, a person could be able to save for future debts also, and might not even lose a lot of property in the process.

Now you know how and why a bankruptcy lawyer is so important in dealing with bankruptcies, as you never know when you might need a lawyer for expert advice or other legal formalities. Also, to make sure that your personal life doesn’t get highly affected by this whole procedure and you do not lose more than you deserve to in every sphere of life, it is better to hire a good lawyer and keep him or her on board so that you have guidance whenever you need.

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What is a Chapter 13 Bankruptcy Plan?

Bankruptcy is a common scenario in the US and if you or someone in your friends and family are going to go through the similar process, then knowing what it is about is a good idea. Usually, the two most common repayment plans people fall under include the Chapter 7 repayment plan and Chapter 13 repayment plan, and a number of people get confused between these. In this article you will understand what exactly Chapter 13 bankruptcy plan is.

The chapter 13 bankruptcy programs are completely based on the Chapter 13 bankruptcy case and they basically lay out as to how the duration of the repayment plan, the amount the creditor will get paid under this plan, the value which the debtor’s property will be off and other specifications. Once you have registered for the plan, before anything is taken forward the bankruptcy court looks into the case to check if it is genuine or not and then confirms for proceeding. A number of factors and aspects are open to objection from the trustees and the creditors. There are various things which you must understand to get the hang of what this plan is all about and these factors include your obligations, the number of debts to be paid each month, how does the hearing of the plan confirmation takes place, and the options that you have to complete the program.

This repayment plan also begins in a similar way as the Chapter 7 plan as here also you need to fill out forms where you specify the details of your income, property, expenses and debts. These forms need to be filed in the bankruptcy court, which then looks into the matter after you have also filed a workable repayment plan showing the court that you have a plan to repay the debts over a set period of time. The other requirements for this plan include the certificates for income tax returns of the past four years and a certificate of credit counselling from an affiliated agency. Generally, the plan of payments is a monthly process and the debts are supposed to be paid to the trustee who is a person appointed by the court to deal with your case. This trustee is a court official who will in turn pay the amount to your creditors and take the specified statutory commission based on the payable amount. The main aspect of this plan is that if you have to complete all the payments of debts on time so that the plan is completed.

Usually, the length of the repayment plan is fixed with regards to your income level and depending on the different income specifications, three year and five year plans are taken up for the repayment. This is taken with the help of the median income in the United States. Also, an important factor in a Chapter 13 bankruptcy plan is that unlike the Chapter 7 plan you can retain your property and debts are paid from the income. In exchange of this, you have to pay your debtors the value of nonexempt property. These are a few important specifications in relation to the Chapter 13 bankruptcy plan.

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Why Most of the Cancer Patients File Bankruptcy?

Bad health and constantly rising medical bills has always been a reason for people to go bankrupt, but naming one ailment which causes people to file the most bankruptcies was not heard before. However, recently a research has shown that the number of cancer patients filing for bankruptcy has increased in double folds. Through the research conducted by Fred Hutchinson Cancer Research Centre, it has been found that “cancer patients were twice as likely to file for bankruptcy as people without cancer.” It is a proven fact now that cancer patients face more economic issues compared to people who are suffering from other diseases. The relationship between cancer and economic hardship is a deeper one and people have 2.65% more chance of going bankrupt than people who do not have cancer.

Another startling discovery which has come out of this research is the fact that young people who suffer from this deadly disease are even more likely to file for bankruptcy, in comparison with the people who are older and are above 65. It has been seen that the reason behind the fact that younger cancer patients file more bankruptcies than the older patients is because of the various medical insurances and securities like Medicare and others. Medical debts can be very pressurizing as they are unavoidable and sometimes they take way more than people had or could afford earlier. Out of these medical debts, cancer care is the most nerve racking with people spending up to 1.3 billion in total for the treatment and care. When a person is diagnosed with cancer, all the reasons of bankruptcy are interlinked, and one of the most important one is that people usually stop working during the initial stages of cancer treatment. This means that the cash inflow has reduced but the outflow has definitely increased to unmanageable levels, and the study shows that 40% to 85% stopped working during the treatment.

Though cancer cannot be prevented once it has inhibited a person, people who are going through the treatment must be able to talk it out and discuss the consequences of their expenditure properly. This can be done by systematically consulting the doctors and hospitals, and requesting them to reduce the bill or sell the medicines at a discounted rate. However, if the bills are ever-increasing and cannot be dealt with small discounts only, bankruptcy is a way out of this problem. Bankruptcy helps you by stopping the debt collectors from charging you medical debts and an agreement where the patient will never have to pay them.

However, bankruptcy could lead to one problem which is that the doctor who hasn’t been paid because of your situation might stop the treatment. To make sure that you are able to tackle this problem a payment arrangement can be worked out with your doctor or the hospital, and a bankruptcy attorney can definitely help out with this. With the help of a good bankruptcy plan which an attorney could devise for you, the problem of paying the doctor even after the bankruptcy has been filed can be continued. This will make sure that even though you do not have the money; your treatment will not stop.

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Chapter 13: A better option than Dept Settlement! Why?

We all know what bankruptcy is, and a number of companies and firms deal in debt settlement plan to avoid using the bankruptcy chapters. Though people, in fear of getting into bankruptcy procedure, use the settlement plans, they do not know what exactly they are. A debt settlement plan has a number of folds to it and you might be falling for something you do not want and thus it is better to know what it is. These plans are basically debt relief options formulated to assist in paying of the large accumulated debts, which are not being paid. A number of debt settlement plans are based on false promises which companies make to lure in people who are in need and make some good out money out of the problem. This is why, usually experts advise people to go for chapter 13 bankruptcy rather than a settlement plan, and mentioned below are a few convincing reasons as to why you should choose Chapter 13.

Non Taxable Debt Forgiveness

This is one of the biggest advantages of going in favour of filing a bankruptcy. A person who is going to the extent of filing a bankruptcy is in dire need of money and is not looking forward to paying commissions or taxes at this moment. When you file a bankruptcy the debts which are forgiven do not bring in the requirement of payment of taxes with them. This makes your burden a little less, compared to debt consolidation plans.

Problem of Multi-Creditors Solved

With Chapter 13 bankruptcy filed, you do not have to deal with end number of creditors and suffer the mental brunt time and again. This is because once the court takes the matter, you get much more power as now you can devise your own payment plan keeping in mind your situation and now you have to convince the judge and the Chapter 13 trustee. Once this works out you do not have to worry about constantly engaging with your creditors, which is usually the case when you opt for debt consolidation and settlement plans.

Negative Credit Scores

A good credit score is very important for your finances and money matters, and once you opt for debt consolidation or debt settlement plans it is likely to go low. This is because you can pay the credit cards properly once the creditors agree to settle accounts. Also, if you take a long time to pay debts through one of these programs, it in turn hits your credit score.

There are other advantages too, of bankruptcy plans which debtors do not know, like being able to get rid of the second mortgage with the help of Chapter 13, and being able to modify car loans as well. On top of that, the companies which deal in settlement plans use the emotional factor coupled with a number of myths regarding bankruptcy, to make people fall for their plans, and in the end the debtors end up paying much more than what they were initially supposed to pay. This is why going for Chapter 13 is a better bet compared to debt consolidation plans.

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What is the Process of Filing Chapter 7 Bankruptcy Cases?

The recent financial meltdown has left many people in a financial mess. Job cuts and pay cuts have further complicated situations for many people. In such a situation you might be consider filing bankruptcy to get rid of your woes. However filing bankruptcy is the last ditch effort for anyone looking to get out of a financial mess. Before you opt for this you should try out all other repayment options. In the United States there are different chapters under which one can file bankruptcy. Among these chapters, Chapter 7 which is also known as the ‘straight bankruptcy’ is the most preferred one. Here in this short write-up we shall take a look at the basic procedure of filing Chapter 7 bankruptcy cases.

• To start with you need to hire the services of a professional attorney who specializes in bankruptcy related cases. You can do some research on the Internet or ask for reference from your friends and colleagues. The attorney will guide you through the different stages of filing apart from trying to work out the case in your favor.
• Along with your attorney you will need to analyze some debts, such as child support obligations as these are not dischargeable in Chapter 7 bankruptcy. If you pledged collateral for a debt your creditor can take the property if the debt isn't paid.
• Know if you qualify for Chapter 7 bankruptcy. You will have to take the ‘Means Test’ that is based on your income and family size in relation to the mean income of the state you reside in. The mean income is revised on a regular basis and your attorney will guide you on that. In case you fail the Means Test you shall have to choose Chapter 13.
• If you qualify for Chapter 7 bankruptcy filing you will need to undergo Credit Counseling. You must get credit counseling from a government-approved organization. This has to be done within 180 days before you file. This is very important as without debtor education course your case is likely to be dismissed before you obtain a discharge.

• Along with the bankruptcy petition you will also need to file a schedule of assets and liabilities, current income and expenditures. All kinds of debts need to be included here. Keep in mind that the petition and other documents need to be filed in the State where you live or where you own a business or have most of your assets depending on your case.
• Once the petition has been filed the court grants you an automatic stay and this prevents your creditors from filing lawsuits, garnish wages or contact you demanding their dues. This temporarily relieves you from your creditors.

Filing for bankruptcy under Chapter 7 can affect your credit score adversely and your attorney will explain to you these in details. Do not compromise on the choice of attorney as this will ensure you get maximum relief in terms of repayment and right to your assets while filing for bankruptcy.

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What is The Difference Between Income Tax Attorney and Tax Relief Attorney?

Most of us have a vague knowledge about taxes and their laws. These laws can vary from state to state and need thorough legal guidance in understanding. There are several kinds of taxes and you need a good attorney by your side to deal with them. It is not uncommon for most of us to think about an income tax attorney and a tax relief attorney to be one of the same. However there is stark difference between the two it terms of the area of law that they practice. The role of one cannot be interchanged with the other and here in this short write-up we shall try and figure out these differences as well as the things you need to keep in mind while hiring a tax relief attorney.

To start with a tax relief attorney is one who specializes in tax law. A tax relief attorney can help you navigate through devious tax policies from agencies such as the IRS (Internal Revenue Service). They help you reduce your tax debt and also work out a repayment plan that is convenient to you. An income tax attorney on the other hand specializes on how to file income tax returns under income tax law. They deal with all the aspects of your income and taxes under different criteria taking into account all the aspects that should be taken into account while paying income tax.

In most cases you will need to hire the services of a tax relief attorney for your tax relief processes and you need to be extremely choosy in hiring their services. You need to verify the credentials of the tax relief attorney and take a look at the cases they have taken up in the past and the outcome of these cases. They should have experience as a Certified Public Accountant or at least have a background in accounting. You need to know the kind of reputation they hold in the industry as it takes a lot of hard work and skills on the part of a lawyer or a firm to establish strong reputation in the industry. Dealing with the IRS needs a lawyer to have skills to foresee the kind of actions that the IRS would take under certain circumstances and how to manage such situations.

Another thing that you must take note of is the cost of hiring a tax relief attorney. There aren’t any benchmark rates that are prevailing in the industry and it all depends on the skills and the past record of the attorney. However this doesn’t necessarily imply that higher the rates you are likely to expect a judgment in your favor. The way an attorney bills you might also be different. While some attorneys charge you on an hourly basis there are others who might ask you for an upfront payment. In case you aren’t sure of their fees it would be wise to ask them for a detailed quote and they shall get back to you with all the payment and terms.

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How Tax Relief Lawyers Help Tax Payers?

If you are facing a tax related problem it is very important that you hire the services of a professional tax relief lawyer. Among the tax professionals tax lawyers occupy the highest level having advanced knowledge of technical, and legal related tax issues and problems. In most cases people have basic or no knowledge of the tax laws. If you default on some of your taxes even unknowing you are likely to face action by the IRS. Having an experienced attorney by your side helps you get rid of the tax related problems. Here we shall take a look at some of the advantages that tax payers have in hiring the services of tax relief lawyers.

• Expertise - It goes without saying that a professional tax lawyer will have expertise on the different areas of taxation laws. In the United States it is mandatory for such lawyers to be licensed by their state bars. Along with regular practice they also remain up to date with the regular changes and amendments in the Federal and state laws. This allows them to serve you in case such as when you owe taxes that you aren’t able to pay in one go or you have unfiled tax returns.
• IRS Laws - There are situations where an individual can become a psychological victim of the highhandedness of the IRS. In such cases a tax relief lawyer will navigate you through the crisis in as they are aware of all the IRS hardball tactics and don’t fall victims to it. They can easily comprehend the actions that the IRS is going to take and they understand the severity of their requests. They don’t have any emotional attachment to the tax problem and can handle it in a calm and composed manner in favor of their clients.
• Confidentiality - In most cases you might be skeptical about disclosing your financial and tax information to a person. You can be rest assured that anything you disclose to your tax lawyer or their staff stays confidential. Under no circumstances will a tax lawyer or his/her staff be forced to disclose information that you have provided them. Tax lawyers only disclose the information that is required to resolve your tax problem.
• Negotiations - Last but not the least tax related problems often require negotiations and professional tax relief lawyers are known for their negotiating skills. This is a very important skill when it comes to negotiating with the IRS as there is ample scope of negotiation here. In fact there is no fixed line of negotiation and two individuals with similar cases can have different outcomes depending on the negotiation skills of the layers. A good lawyer will try and accommodate all your problems regarding tax payment with the lawyer.

A tax relief lawyer can provide you relief in true sense when you are facing problems with your taxation. They handle such cases on a day to day basis and can solve all your tax woes in a professional and time bound manner.

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Consider Five Important Points before Hiring a California Bankruptcy Lawyer

Filing for bankruptcy is one of the most crucial financial decisions that you will ever take in your life. This is considered as the final effort to get rid of your debts. If you are planning to file for bankruptcy in California you need to hire the services of a professional lawyer. You need to carry out a detailed research on the lawyer before hiring his or her service. Here are five important things that you must consider while hiring the services of a lawyer.

1. Expertise - You need to make sure that the lawyer has expertise on the different aspects of the bankruptcy laws. By expertise we mean that the lawyer should have thorough knowledge of all the Federal and the state laws. How many cases have they taken up in the past? What is their reputation in the market? You can ask for references from your friends and colleagues as this will help you zero in on an attorney who can bring some relief to your troubled financial situation.
2. Reviews - What are people saying about the lawyer or law firm that you intend to hire. In an era where most information is available on your fingertips you can easily find out the reviews that a lawyer has got from his or her previous clients. Try and judge the skills of the lawyer reading such reviews. However don’t expect even the best of the lawyers not to have anything adverse about them posted somewhere. You need to use your own discretion in taking the final call.
3. Free Consultation - This is another good way of finding out a professional lawyer. If the lawyer is insistent on charging you even for a consultation it would be wise to knock some other door. A professional lawyer understands the poor financial state you are in and won’t charge you for a consultation. Having a free consultation with your lawyer helps you understand the minutes of the filing procedure and also knowing what kind of discharge can you expect.
4. Communication - In bankruptcy related situations you are not likely to be in your best state of mind. Hence you need the services of an attorney who lends you an ear each time you want to discuss issues related to your case. They should be willing to respond to your phone calls and emails immediately and offer you time whenever you want to meet him or her.
5. Pricing - Another important thing that you need to consider is the pricing of their services. While some lawyers would charge you on an hourly basis there are others who have fixed charges of taking up your cases. You need to do some market research and find out the price of hiring a professional lawyer. It is important to keep in mind that lawyers who have a tested market record might come at a high price but they can tilt the case in your favor and hence hiring them is a sound financial decision.

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What Is The Main Factor That Defines Wage Garnishment In San Jose?

One of the common ways for creditors to get back their debts is by using wage garnishment. It is a legal order, given by the courts that allow the creditor to directly contact a debtor’s employer and get the accumulated amount deducted directly from the salary or wage. The creditors are however not allowed to intercept more than 25% of the wage in a month. Wage garnishment is usually one of the last steps creditors take to get back their money. The California Wage Garnishment Act compulsorily states that all employers (whether private or public) will have to obligate a wage garnishment direction and garnish a certain percentage of the employee’s wage for debt collection. Wage garnishment can be used to pay pending credit card bills, child support amount and back taxes.

Few Defining Factors of Wage Garnishment in San Jose

• Employee Termination After Wage Garnishment Direction - According to the state laws of California which are applicable to San Jose, an employer cannot terminate an employee because of a wage garnishment notification. This rule has been defined according to the Wage and Hour Division of the U.S. Department of Labor’s Employment Standards Administration. An employer has to honor two or more wage garnishment orders for any employee.
• Percentage That Can Be Deducted - According to the state laws, an employee or even a creditor cannot garnish an employee’s entire paycheck in one go. A certain percentage, in this case, 25 percent of the wage can only be deducted. However, this 25% should be deducted from an employee’s disposable income only. Disposable income means any income that goes to the employee after deducting the several kinds of federal, state and local taxes, medi-care, social security payments etc.
• On Matters Related to Alimony and Child Support – In San Jose there are certain restrictions imposed on alimony and child support too. If a debtor is supporting a child or a spouse that is not included in the order, the employer has the rights to garnish more than 50 per cent of the person’s wage. However, if it is found that the above condition does not hold truth the employer can deduct as much as 60% of the disposable income. The California state laws also have a provision where if the arrears exceed 12 weeks, an additional 5% can be deducted.
• Penalties Levied on the Employer - Wage garnishment can only be applied after a legal notice by the courts. Thus an employer is not allowed to garnish wages without getting a legal notification. If it is found that an employer is garnishing wage without a legal procedure, the state laws that govern San Jose, has a provision where the employer can be charged of non-compliance. Thus the employer has to pay back the garnished amount to the employee and restore all deducted amount. If the employer doesn’t follow the state directives, the Department of Labor can put a fine up to $1000 and imprisonment up to a year.

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Importance of Hiring Tax Relief Lawyers

All of us have to pay taxes under the federal regulations. It is our social responsibility to pay our due taxes to the Federal government and its agencies. If we fail to do so by intent or by sheer ignorance it is a punishable offence. However tax related laws are very complicated and often beyond the understanding of many of us. There are situations when we find ourselves in the bad books of the IRS and are on verge of inviting strict penalties. In such cases you need to immediately get in touch with tax relief lawyers. They have expertise in this field of law and help you solve your tax problems. Here are some of the ways in which a tax relief lawyer can help you

• First and foremost a tax relief attorney would interpret the tax laws to you in a way that you understand them. This is a great advantage as you might have already gone through many of the tax laws without understanding much of it. Even if you understand what the law states the interpretation of the law may vary from case to case and having an attorney by your side is a great advantage.
• There are chances that IRS might freeze your bank account and garnish all the outstanding tax amount from there. Here an attorney will prevent your account from being frozen and creating issues in your life.
• The tax relief lawyer will calculate all the taxes that you owe in the right manner. This is very important as you might be slapped with an inflated tax payment notice without talking into account all the related factors to your case. The lawyer will also make you aware of all your rights in case the authorities are contemplating any form of action against you.
• A lawyer will not only fight a case on your behalf if the need arises but he or she will also perform a number of other tasks. These include resolving your audit which you get from the IRS agency and also reduce fines that the IRS has imposed upon you. He also she will also help you in getting liens removed and in turn relieving you from the burden of huge taxes.
• There are cases when the IRS might levy huge tax on your spouse. In such cases having a professional attorney by your side is of great advantage. They will offer immediate relief to your spouse and ensure they aren’t put in the purview of unnecessary taxation.

If you are planning to hire an attorney for tax relief cases you need to be extremely choosy as only IRS tax attorneys have the right and the mandate to handle such cases. A general law practitioner won’t be able to offer you as much help as a specialist attorney. Thus it is advisable that you consult with a professional tax relief attorney and discuss the details of your case with them. They will help you get over the problems with unnecessary taxes.

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How Medical Facilities help to Avoid Overwhelming Debt?

Medical treatment can give a severe blow to your financials especially if you take what the service providers on their face value. We don’t want to spend huge sums of money on medical treatment as it can lead to overwhelming debt. Thousands of people have suffered from this problem of debt related to medical expenses. You might be wondering if there are any alternatives to this. Yes there are many alternative ways of taking treatment that can help you cut down on your medical bills substantially without compromising on the quality of medical treatment that you receive. Doesn’t it sound impossible? It might as you never thought on these lines. Let us throw light on some of the ways in which you can cut down on your medical treatment expanses.

• Compare Prices - You aren't always in need of emergency treatment and hence have ample time to compare treatment prices from different providers of the medical facility. Ask for quotes from different service providers and you would be surprised to see the stark difference between the prices of different service providers. An MRI can cost between $400 and $2400 without any difference in the quality of the service. The fact is there aren’t any strict parameters for fixing prices of such facilities and hence it most medical institutes fix their own price arbitrarily.
• Ambulatory Surgery Facilities - In case you are in need of any surgical procedure it is advisable that you opt for ambulatory surgery facilities instead of going to a big hospital. There are two advantages of selecting ambulatory surgery facilities – first they perform the surgery for much lesser price compared to a hospital. In some cases it might mean a saving of as much as 30-50%. Secondly they perform the surgery in much less time compared to a hospital that leaves you with ample time to recover.
• Emergency Medical Rooms - If you have been hospitalized does your medical conditions require you to be kept in the emergency or critical care unit rooms? It is often observed that many individuals are housed in such environments even though they don’t require such kind of care for their normal health related issues. There are many hospitals that resort to this technique to inflate your medical bills. To cut down on the medical expanses you need to reduce or eliminate the use of emergency rooms for routine medical care. You might have to talk to your doctors regarding this issue.

These actions taken can definitely help you reduce some of your medical expenses and cut down on overwhelming debt problems. But there are cases where you are in need of periodic medical care and it also affects your professional life making it difficult for you to make ends meet. In such a scenario one of the most preferred options for people is to file bankruptcy. This helps in discharging some of the debt and starting with a new plan to manage medical expenses as well as debt.

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What are the Chapter 7 Bankruptcy Penalties?

Chapter 7 bankruptcy is one of the most popular types of bankruptcy filings in the United States. Thousands of people rightly use this to get a debt relief from their creditors. It does save them from harassment from the creditors. However like all other chapters of bankruptcy this does have its downside. It can attract multiple penalties and before you file for bankruptcy under this chapter you need know the penalties that can come along with this bankruptcy chapter. Here in this short write-up we shall discuss some of the penalties that this chapter attracts.

It Can Affect Your Spouse

Though this isn’t common in some cases your spouse may be affected by your title 7 bankruptcy. The law in certain states such as Arizona, California, Idaho, Louisiana, Nevada, and New Mexico affects both you and your spouse. This happens when your spouse is responsible for your debt or is contractually bound to it such as when they co-sign or act as a guarantor to your debt. However you can definitely claim exemptions under certain conditions. Another way that it can affect your spouse is when they are using a supplementary credit card as these have the same account number as yours and they stand to lose the cards.

Poor Credit Score

One of the biggest downsides of filing for a bankruptcy is to do with your credit score. Once you have filed for bankruptcy it becomes a matter of public record and this will become a part of your credit score or in other words make your credit score poor. It will be listed against your credit history for a period of 10 years which worsens your chances of getting loan easily. Also you won’t be able to file for bankruptcy again for a period of 8 years after the initial filing. This might also lead you to losing your credit cards as the issuing company has the discretionary right to issue or deny you a credit card.

Properties and Assets Might Be Ceased

Once you have filed for the bankruptcy under chapter 7 many of your assets might cease to exist. This can include your property and vehicles. They might be liquidated by the trustee in order to make payments to your creditors. You might be allowed to keep some of your assets but this might vary depending on the jurisdiction of the state and amount of money that you owe to your creditors. You also need to keep in mind that this type of bankruptcy filing doesn’t relive you of certain types of debts such as alimony, child support, drunken driving debts, student loans and income tax debt which you will have to keep paying.

If you are planning to file a bankruptcy under Chapter 7 you need to get in touch with an attorney who specializes in this field. He or she will guide you through the entire process of filing for a bankruptcy and also seek maximum exemptions for you.

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How to Get the Best Solution for your Tax Problem?

The IRS has become very vigilant with the law and any person not paying taxing on time or not filing their taxes will see the hard faces of the IRS officials in no time. If you are having a tax problem and fear that the IRS or the local and state taxing authorities may come after you, consult an attorney in your state immediately. It is never advisable to sit with your problems. If you close your eyes and can’t see the world, the world (in this case the rightful authorities) do not stop seeing you – so stop ignoring your problem and consult an attorney who will have a solution that best suits your tax problem.

There are several tax problems you might face. Before you look for a solution, it is best you understand what these problems are-

1. Non-filed Tax Returns - It is a criminal offense to not file tax returns on time. According to the law, you can be jailed for a minimum of one year if you do not file your tax returns on time. This is a serious problem that demands your immediate attention. However, if your financial situation is such that you are unable to pay the government and that is why you are delaying with the payments, do not worry. Consult an attorney and show him your financial holdings. Remember that if you file your tax return, you will be able to show exemptions and deductions that can reduce your tax liabilities. But if the IRS files the tax on your behalf, they will not look into your advantages but only the government’s.
2. Owing Back Taxes - Filing for tax returns isn’t the end of the story. If you have been pending your tax payments year after year saying that next year is going to be good and I shall pay my taxes then, you are making one of the biggest mistakes possible. In 3-4 years, the IRS can send you a letter where it will be mentioned that you have to pay three to four times more of the original tax amount because of the accumulating arrears. Tax penalties and interest can add up very fast making your back taxes increase. So before you get such a notification from the IRS, deal with the back taxes and consult an attorney.
3. IRS Liens and Levies - An IRS lien can take away everything you own. The IRS has the right to establish a lien against you which gives them a legal right to seize your assets, especially real estate and sell them as and when deemed necessary. Liens are also reflected in your credit report. IRS levies on the other hand have the power to seize your wages, stocks, bonds, Social Security Checks etc. However the worst is wage garnishment where your wage directly goes to the IRS. To come out of these problems you need to release the levies and liens. Your aim should be to come even with the IRS and reach a settlement where both gain rightfully.

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How does an Individual get Free from Taxes Through Bankruptcy?

Taxes are compulsory payments that every citizen of a country has to make to his government. However, many times, due to unforeseeable reasons, individuals cannot pay their taxes on time. At the same time, if they are hit by a financial crisis where they have to declare bankruptcy, things only seem to go bad. If you are wondering whether filing for bankruptcy will give you any respite from paying pending taxes, then there is some good news for you. Under certain clauses of the US Bankruptcy Laws, an individual can get rid of their taxes through bankruptcy. There are two possibilities than can happen under bankruptcy - either an individual is discharged of taxes or they get the time to repay the tax on a 0% interest within a time duration lasting 3-5 years.

For taxes to be discharged under bankruptcy, it is very important to understand whether the taxes fall under priority or non-priority debts. If the tax falls under a non-priority debt, then the IRS can discharge all the taxes. But if the tax falls under a priority debt then neither can Chapter 7 or Chapter 13 be used to wipe it out. But to determine whether your tax falls under the priority or non-priority debt, you have to pass through the following three steps.

Step 1

For a tax to be listed under non-priority debt, it has to be 3 or more years old from the date of filing your bankruptcy. In simple terms it means that if you are filing your tax on May 2013, the tax should be dated at least May 2011 or earlier. If you fulfill this criterion, your tax could be listed under non-priority debt but not before completing the other steps.

Step 2

For a tax to be a non-priority debt, it has to be filed at least two years before the day of filing bankruptcy. But if the tax for a particular year wasn’t filed, that tax cannot be discharged. Furthermore, it should be understood that if IRS files the tax return on behalf of the tax payer, this step will not be applicable.

Step 3

The final step that can determine your pending taxes criteria is tax assessment. Tax assessment should be done 240 days before the date of filing for bankruptcy. Though usually the tax assessment happens immediately after the tax has been filed, if there is some mistake found in the calculations by IRS, the 240-day cycle will start afresh. The assessment period (of 240 days) may be paused if you have entered a repayment plan with the IRS. This is the most difficult step as many fail to pass the 240 days tax assessment period. It is always best to consult a reputed tax attorney in your state and under the law first-hand.

Though you can get free from taxes through bankruptcy after you have passed the above mentioned three steps, the bankruptcy courts are very strict on cases of fraud and tax evasions.

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