Archive for May, 2013
Bankruptcy attorneys in Michigan have been busy. Just last year, over 55,000 people filed for bankruptcy in the state of Michigan. And the bankruptcy Michigan provides can make an enormous difference for people in numerous situations. The Chapter 7 bankruptcy Michigan accommodates is most common, accounting for over 80 percent of bankruptcy filings and the Chapter 13 bankruptcy michigan residents use is also important. It accounts for most of the other filings.
Typically, when it comes to the bankruptcy attorneys in Michigan, they will tell you that Chapter 13 bankruptcy attempts to restructure dead instead of liquidating the property owner’s assets. Usually, this is the case for people with credit card debts which are unsecured and it is also used for people with debts that are under 1,081,400 USD.
A Flint bankruptcy attorney can help people who are looking for the best solutions for getting their financial house in order. This is true of the Detroit bankruptcy attorneys in Michigan as well. Nonetheless, people should keep in mind that hiring bankruptcy attorneys in Michigan is not a get out of jail free card.
There are a lot of situations in which people will hire bankruptcy attorneys in michigan but will discover that bankruptcy is not the solution that they are looking for. It does not cancel all of their debts, it is merely a recognition that they will never be able to pay these debts back. This can have serious consequences that many people do not foresee.
The thought that you are unable to pay your federal or state taxes can be scary. The U.S. Constitution allows the federal government to place a levy against any individual who has failed to pay their taxes. This levy can be placed on a bank account, home, car, or even on the wages that you earn at work. The IRS has to provide notice that this will happen, but still the thought that possessions can be seized or waged deducted can be scary. Tax resolution companies can help people who are facing this type of situation.
Tax resolution companies hire experienced professionals who are able to help relieve people of their tax burdens. There are a number of services that can be provided by these tax resolution companies that will help remove or temporarily halt any tax levy.
The first service that is provided by these tax resolution companies includes working as an IRS audit help company. These tax resolution companies will help individuals go over their previous tax forms to make sure that all items were properly accounted for and all tax documents were properly filed. There are over 8 million pages of documents printed out by the IRS every year, so it is no surprise that people will sometimes make sure mistakes when they file their taxes.
Another service that is provided by these tax resolution companies includes working as an IRS debt relief center. These companies will act as mediators between the IRS and you. They will try to come up with a payment plan that will temporarily halt the wage garnishments or levy against possessions. The payment plan that is created by the tax resolution service must be followed, but it can often help people in tough situations.