Bankruptcy attorney Raleigh 2021? A Chapter 13 will STOP the danger of repossession (repo) as long as you continue making payments on the vehicle through the Chapter 13 plan or to the creditor directly. Many times a Chapter 7 can save a vehicle from repossession if it is redeemed or reaffirmed. If you have a vehicle that you wish to keep that is in danger of repossession, it is important that you file bankruptcy as soon as possible. Many times we have seen people take their time and lose a vehicle that they wanted to keep. We can file an emergency bankruptcy in a day or two, and if you are in danger of losing your vehicle, you need to ask us to do this.
Convert Money From a Traditional to a Roth IRA: Withdrawals from traditional IRAs are taxed in retirement, but distributions from Roth IRAs are tax-free. Plus, Roth IRAs don’t have required minimum distributions, which can also be beneficial for those looking to reduce taxes in retirement. While money can be converted from a traditional to a Roth account prior to retirement, taxes must be paid on the converted amount. That means people might want to be careful that the amount they convert doesn’t bump them into the next tax bracket.
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 at Raleigh bankruptcy lawyer.
Moving expense to take first job: Here’s an interesting dichotomy: Job-hunting expenses incurred while looking for your first job are not deductible, but moving expenses to get to that first job are. And you get this write-off even if you don’t itemize. If you moved more than 50 miles, you can deduct 23 cents per mile of the cost of getting yourself and your household goods to the new area, (plus parking fees and tolls) for driving your own vehicle. However, beginning in 2018, moving expenses are no longer deductible for federal taxes unless you are in the military and the move is due to military orders. Some states such as California continue to provide this tax benefit.
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 extra details on https://www.cameronbankruptcylaw.com/. Price Match Guarantee! We have bankruptcy payment plans!
In Chapter 13, you must pay back Creditors within five years in full or in part to the best of your ability, and you must pay as much as Chapter 7 would have paid if there had been a liquidation. Any Chapter 13 must always pay back at least as much as a Chapter 7 would have, regardless of the state in which you live. By this, we mean if your house would have been sold in Chapter 7 and would have paid back $20,000 to your unsecured creditors, your Chapter 13 must repay at least $20,000 to your unsecured creditors. Each local district has its own rules.