By: Darrell Castle You can get rid of your tax debt through bankruptcy if it meets 4 criteria If you’re looking to file for bankruptcy to get rid of your tax debt, we’d love to talk to you. Call (901) 327-2100 today to schedule your FREE consultation. Or you can fill out the contact form to the right to have someone from our office contact YOU. Video Transcript Can you get rid of your tax debt through bankruptcy? Hi, I’m Darrell Castle and I’m an attorney licensed to practice law in the state of Tennessee and the answer to that question is yes and no..or maybe. Sometimes would probably be a better answer. It works something like this: Yes, you
Here’s a quick refresher on how the wage garnishment process works: You fall behind on unsecured debt like credit card or medical bills. Because they’re unsecured — meaning there’s no property involved — the creditor can’t repossess anything as collateral for the debt. But the creditor CAN garnish your wages. With our firm, you can stop wage garnishment with NO MONEY DOWN! File now and pay later through a repayment plan. Call 901-327-2100 to see if you qualify. After harassing you for months to pay your bill, the debt collector may just decide to give up and write the debt off. But most likely he’s going to file a lawsuit against you for that debt. Long story short, the lawsuit is heard by
By: Darrell Castle So you’re behind on your car payment and your vehicle is about to be repossessed? Well, don’t even think about hiding or concealing it. That’s a crime. The rules are a little vague though. Do you park your car in your garage normally? Well, you can still do that. But the repo man may still be able to get the car as long as he doesn’t “break the peace.” That means he can’t cut chains, break locks or damage property. But what if you hide your car in your neighbor’s garage? Or at a family member’s house? Then you’re making an effort to deceive the bank, and the court may consider that illegal. Wherever you hide it
If you’ve been involved in a car accident or personal injury settlement, you may find it’s very hard to pay it off at the same time as your other bills. These settlements can be very expensive, and even making regular payments might be too much a burden. The good news is you can usually include personal injury settlements in bankruptcy. And I can help: Our personal injury attorneys know that side of the law inside and out, so if you’re looking to include an accident settlement in your bankruptcy, we’re the ones to call. One other thing: here in Tennessee, if you cause an accident but you can’t afford to pay (for example, if you don’t have insurance), your driver’s license
Many taxes can be discharged through bankruptcy, but only in specific circumstances: The due date for filing a tax return has to have been at least 3 years ago. Your return must have been filed at least two years ago. The tax assessment needs to be at least 240 days old. You can’t have committed tax fraud or tax evasion. (If you filed extensions, they can be included in the math for the above requirements.) These rules usually cover income taxes, but not all other kinds of taxes; and it doesn’t include income taxes less than three years old. Taxes that don’t fall under these guidelines may still be handled through bankruptcy. Rather than discharging them through Chapter
By: Darrell Castle If you have a credit card that is COMPLETELY free of debt, then you can most likely keep it in a bankruptcy. However, if the credit card company finds out you filed for bankruptcy, then it may cancel your credit card for you. In general, this isn’t the best mindset to have when you’re considering filing for bankruptcy. It just shows you’re not willing to give up a life with debt. Isn’t it debt that landed you in this position in the first place? Shouldn’t you be giving your best effort to avoid it? When you’re in a bankruptcy, especially in a Chapter 13 which lasts multiple years, you’re supposed to REFRAIN from debt until the process
By: Darrell Castle You CAN keep your home if you file for Chapter 7 bankruptcy, but ONLY if you’re current on your mortgage, and ONLY if your equity doesn’t exceed state exemptions. If you have debt you just can’t pay and you’re wanting to get rid of it and gain a fresh start, then a Chapter 7 bankruptcy may be right for you depending on what bills you owe. If you’re behind on your mortgage but want to keep your home, then a Chapter 7 bankruptcy is NOT right for you. But by filing Chapter 13, you can lump your mortgage arrearage (past due amount) and other debt into an affordable repayment plan and pay it back over a longer
By: Darrell Castle After your bankruptcy is complete, you can own anything you want, with a few exceptions. Bankruptcy lawyers Memphis, TN trusts will tell you many people have false assumptions about bankruptcy and think it’s something that’s going to hinder them financially for a long time. That’s just not the case. Will your credit score be good after a bankruptcy? Probably not, but it most likely wasn’t good before you filed because you were in debt and missing payments on your bills. However, a bankruptcy will provide you a clean slate and a fresh start, giving you a great opportunity to rebuild your credit score the RIGHT WAY. At Darrell Castle & Associates, we have a great resource to
Workers’ compensation is meant to help cover your medical expenses if you’re injured on the job. But for how long? If you have new, related medical expenses that come up AFTER your claim is closed, can you reopen the claim? The easy answer is to talk with an experienced workers’ compensation lawyer. Every case is different, and it’s imperative you get an attorney to help you navigate the process. Your lawyer may be able to help you reopen the case or, in some situations, file a new claim. We’re available to speak with you online or at 901-327-1212. The more complicated answer is that reopening the case is often possible, as long as the medicals have not been closed. Here’s
Not only can you save your retirement in bankruptcy – sometimes it’s the only way to save your retirement! I can’t tell you how many people have come into my office who already ran out of retirement money. They used it to pay off their debts, not knowing they had other options. It breaks my heart: In one short conversation, I could have saved some of them from losing their 6-figure retirement funds. The vast majority of Americans expect to depend solely on their retirement savings after they leave work, rather than depending on government assistance or family members. So it’s crucial you know that you DON’T need to spend your retirement money to pay your bills. There’s one basic