The best bankruptcy attorney Raleigh right now? Stop Foreclosure in Chapter 13, you will be able to keep the rental property, real estate, house or home and stop foreclosure by catching up on the payments within a 5 year period. Sometimes people file a Chapter 7 to get rid of unsecured debt first, and then file a Chapter 13 quickly enough to avoid foreclosure but to not have to pay any of the unsecured debts in their Chapter 13. Your lender may be willing to do is to accept the deed of your property in lieu of foreclosure. This saves them the time and expense. This also MAY keep the foreclosure off your credit report and make buying a home in the future easier. Unless you have judgments against the property, this makes a lot of sense for them to do. Unfortunately, not every lender has a lot of sense, and they may refuse even though it could cost them in excess of $1000.
Pick Up Capital Gains if You’re in a Low Tax Bracket: The end of the year is also a good time for some people to sell stocks that have appreciated significantly in value. This can be a particularly good strategy for those who are in the 10% and 12% tax brackets since their capital gains tax may be zero. The stocks can then be repurchased, which resets the basis and minimizes the amount of tax to be paid on future gains. Even if you’re not in the lowest tax brackets, you may want to sell winning stocks to reset the basis if you’re also harvesting losses. “What you want to do is balance (gains) with stocks that have losses,” Barlin 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. Discover more details on bankruptcy payment plan Raleigh.
Child and Dependent Care Tax Credit: A tax credit is so much better than a tax deduction—it reduces your tax bill dollar for dollar. So missing one is even more painful than missing a deduction that simply reduces the amount of income that’s subject to tax. But it’s easy to overlook the child and dependent care credit if you pay your child care bills through a reimbursement account at work. The law allows you to run up to $5,000 of such expenses through a tax-favored reimbursement account at work. Up to $6,000 in care expenses can qualify for the credit, but the $5,000 from a tax favored account can’t be used. So if you run the maximum $5,000 through a plan at work but spend more for work-related child care, you can claim the credit on up to an extra $1,000. That would cut your tax bill by at least $200 using the minimum 20 percent of the expenses. The credit percentage goes up for lower income households.
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? Read additional information on https://www.cameronbankruptcylaw.com/. Price Match Guarantee! We have bankruptcy payment plans!
Secured claims are handled in one of two ways in chapter 13: The first, which we call the ” catch-up and maintenance” method, is where your past due payments on secured debts are paid from your monthly bankruptcy plan payments, and payments that come due after filing bankruptcy are paid directly to the creditor (“outside the plan”) or to the trustee, who then pays the secured creditor (“inside the plan”). When the Chapter 13 has been terminated, you are still obligated to make any payments remaining due on the secured debts.