Excellent bankruptcy guarantee Raleigh today? Stop Foreclosure in Chapter 7, the lender is entitled to apply to the Court for permission to go forward with the foreclosure. So, in Chapter 7, although your debt may be discharged, a secured lender will be able to get collateral back (rental property, real estate, house or home) IF you don’t pay for it. You will need to catch up on what you are behind IF you want to keep your rental property, real estate, house or home. Chapter 7 only removes your personal liability for a debt: It normally can’t remove a lien or mortgage unless it is a judicial lien from a lawsuit, and even then it requires extra work and cost.
Harvest Your Capital Losses: If you own stocks that have lost money, you can sell them and deduct up to $3,000 on your federal taxes. Just be careful not to violate the wash-sale rule, which would disallow the deduction. This rule states you cannot purchase the same or a substantially similar stock within 30 days before or after the sale. “Some people think it’s OK if I do it using two accounts,” Zollars says. They may think they can sell a stock from a taxable account and then immediately purchase similar securities in an IRA. However, this is not allowed. “That’s not the way the rule works,” he says.
Can you stop wage garnishment? Typically, the debts that can cause wage garnishment for employees in North Carolina-based businesses are tax debt, child support, and alimony. If the business is entierly in NC, Only the government can garnish wages. It gets a bit more complicated for businesses that have offices in other states. A bankruptcy filing will stop all garnishment (with a few exceptions) ASAP! A Chapter 7 bankruptcy can get rid of most, and a Chapter 13 can spread the payments that can’t be discharged over a 3-5 years. See even more information at Raleigh bankruptcy lawyer.
Reinvested dividends: This isn’t really a tax deduction, but it is a subtraction that can save you a lot of money. And it’s one that many taxpayers miss. If, like most investors, you have mutual fund dividends automatically invested in extra shares, remember that each reinvestment increases your “tax basis” in the stock or mutual fund. That, in turn, reduces the amount of taxable capital gain (or increases the tax-saving loss) when you sell your shares. Forgetting to include the reinvested dividends in your cost basis—which you subtract from the proceeds of sale to determine your gain—means overpaying your taxes. TurboTax Premier and Home & Business tax preparation solutions include a very cool tool—Cost Basis Lookup—that will figure your basis for you and make sure you get credit for every dime of reinvested dividends.
We want you to feel secure with Sheree as your attorney in your Chapter 7 bankruptcy or Chapter 13 bankruptcy. Sheree is a Board Certified Consumer Bankruptcy Specialist. We have an “A+” BBB® rating. Sheree has 18+ years of experience as a debtor bankruptcy lawyer in Raleigh, NC. We have the best Google Testimonials (click here) in North Carolina! And not least, our two money-back GUARANTEES! Legally we cannot offer any guaranteed outcome in any bankruptcy case. We do offer a return of attorney’s fees if a case is dismissed (see below). JFYI, we have never had to do this! If we do not think you can receive a discharge in Chapter 7 or 13 bankruptcy, we will not take your case! Can we be fairer than that? Discover additional information on cameronbankruptcylaw.com. Price Match Guarantee! We have bankruptcy payment plans!
We call the other method the “cram-down ” method. This method is used when either the collateral is worth less than the amount of the debt, or when the number of payments left on a debt is less than the length of the plan. The following examples illustrate the “cram-down” method. In it, you can pay what the collateral is worth (not what you owe on it), stretch out the payments from 36 to 60 months, and pay a reduced interest rate. If you have a second mortgage with no equity to cover it, you can completely eliminate it. To qualify for a “cram-down” you have to have paid the purchase money for a car 910 days before filing bankruptcy, and for other property, you must have made the first payment at least a year before filing bankruptcy.