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Get Rid of Some IRS Garnishments With Bankruptcy

Get Rid of Some IRS Garnishments With Bankruptcy
"When individuals owe back taxes that they simply cannot pay, the IRS is quick to garnish their wages. When these garnishments occur, you are required to surrender a portion of your pay before you even receive it, leaving you with less money to pay your other obligations.

Employers withhold garnishments directly from employees' paychecks. It is therefore not only financially burdensome to have your salary reduced, but it is also embarrassing for your colleagues to learn about your financial situation. No one wants their personal problems to become office gossip; fortunately, bankruptcy can eliminate tax liability.

To stop IRS garnishments, one need only register for bankruptcy. When you file for chapter 7, you will be granted an immediate stay regardless of whether you go downtown to file or file online. The stay prohibits all garnishments until the conclusion of the bankruptcy court's hearing. The stay also prohibits creditors from calling you harassingly. It prevents creditors, such as the Internal Revenue Service, from adding late fees, penalties, interest, and fines to your account balance. The balance is fixed at its level on the date of filing.

In this sort of financial situation, stopping a garnishment should be one of your top priorities. You cannot allow the Internal Revenue Service to take money that you and your family require for sustenance and shelter.

Filing for chapter 7 will stop the garnishment and return the vitally needed funds. Considering that the Internal Revenue Service has garnished your paycheck, you may believe that you cannot afford to leave work and receive less pay. You do not need to leave work to file for bankruptcy; you can do so online with the assistance of a virtual law firm. You can perform this task whenever you are available.

The website of the virtual attorney will contain all the information you need to initiate the filing process. They even provide you with the ""means test"" that chapter 7 filers are required to take. This law firm will file your paperwork, arrange any required counseling or courses, schedule your court dates, and accompany you to all court hearings if you provide them with a small amount of information online.

Send an email to the law firm if you have any queries or concerns, and you will receive a response. Typically, there is also a phone number you can contact during regular business hours. You have excellent support and representation in your efforts to stop the IRS garnishment and regain control of your finances.

You must be aware that registering for bankruptcy will prevent any pending repossessions or foreclosures, in addition to stopping the automatic deductions from your pay. Everything a creditor can do to force you to pay what you owe will cease the moment you declare bankruptcy.""

" - https://www.affordablecebu.com/
 

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"Get Rid of Some IRS Garnishments With Bankruptcy" was written by Mary under the Finance / Wealth category. It has been read 111 times and generated 0 comments. The article was created on and updated on 01 June 2023.
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