Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
Filing status is of great importance when it comes to filing your tax return. It is important to determine your filing status by checking out the requirements for filing. The right filing status will make sure you are paying the right amount of tax. So, it is crucial to choose the right filing status before you file your tax return. You can file your tax return under ...
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The offer to settle tax debt for pennies on the dollar is sometimes too good to be true. If you feel that an offer like this is meant to get your attention and not provide you with an actual solution, your instincts may be right. A number of lawyers and accountants who regularly represent clients before the IRS feel the same, as do state governments. It is true that ...
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Tax debt settlement is a complicated process that is often feared by those filing for it. Though it has certain legal guidelines that make the process complex, it is effective in curbing your tax problems.When settling tax debts, there are many options you can choose from. The IRS understands that there are certain circumstances where individuals should not be held ...
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Divorce, like marriage, marks an important decision in your life. It not only leaves you at a crossroads of emotions, but also impacts your financial life to a great extent. You get busy dividing your assets with your spouse and fighting for your children's custody. While you're dividing your assets, you will also have to divide your debts, including any tax debt. ...
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A bankruptcy adversary proceeding is actually a separate lawsuit that has been filed within the bankruptcy case. This starts like any other lawsuit when someone files a complaint. This someone can be you, the creditor or the bankruptcy trustee. There are quite a few bankruptcy cases that go through both completion and discharge without any adversary proceedings. ...
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It's not unusual for adverse changes to occur in a down economy. This is why it's common to face extreme situations leading to financial distress as a debtor. What you need is a flexible bankruptcy payment plan. This is provided by the Chapter 13 payment plan so that you can complete all payments on time. Now the next question arises is what would happen in case you' ...
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Generally most debtors filing bankruptcy don't need to appear in court. However, it's essential to attend a meeting. This initial meeting is known as the Section 341 meeting which is generally assigned in front of the bankruptcy trustee. On filing your bankruptcy petition you should receive notification details of the time and location of your meeting. What's the ...
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It's common for bankruptcy debtors to want to know whether or not right to discharge is guaranteed to them by virtue of their petition filings. This means whether or not a debtor would receive a discharge at a certain point in the time line of a bankruptcy case, is the point in question. Now, fact remains that this keeps varying. This variation essentially depends on ...
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