Chapter 13 bankruptcy article written by Columbia, SC and Florence attorney Daniel Stone New Chapter 13 bankruptcy filers in 2014 need to have their 2013 tax returns prepared as soon as they receive their W-2 forms to comply with IRS and bankruptcy regulations and case law. I recommend to my clients so there will be no delay…

Tax debt article written by Columbia, SC attorney Daniel Stone Before many of my potential clients hire me, they ask me if can they settle credit card debts on their own. Sure you can, but do you fully understand the full legal consequences of settling your credit card debts? Lets examine some of the elements of settling a…

Chapter 7 article written by Columbia, SC bankruptcy lawyer Daniel Stone Remember Jose Canseco? He was great baseball player for the Oakland Athletics in the late 80’s and early 90’s. Jose earned millions of dollars as both a baseball player and a celebrity. Madision Avenue loved him for his looks and broad shoulders. However, within the last week…

Proof of filed taxes is a requirement for filing bankruptcy. However, some of my clients cannot find their previous three years of tax returns. What do you do then?  First, call your accountant or tax serivce to see if they have a copy. Second, call the IRS and ask for a transcript for each year…

Tax debt article written by Columbia, SC attorney Daniel Stone Chapter 13 bankruptcy can help debtors with both IRS and South Carolina Department of Revenue taxes. Most people assume bankruptcy cannot eliminate taxes. While it is true that bankruptcy cannot discharge many debts, there are some taxes that Chapter 13 bankruptcy can lower to the same…

Tax debt article written by Columbia lawyer Daniel Stone Bankruptcy can be very beneficial to debtors seeking tax relief. Depending on the type of tax debt and age of the debt, bankruptcy can be very helpful. The most significant gains can be seen with federal and state income taxes older than three-years-old. If the income…

HERE ARE SOME OF THE TOP ADVANTAGES OF FILING A CHAPTER 13   1. STRIP IRS TAX LIENS 2. STRIP A SECOND MORTGAGE  (VALUE AT $00.00) 3. VALUE A VEHICLE 4. SAVE A HOME OR CAR FROM FORECLOSURE AND REPOSSESSION 5. WIPE OUT A FAMILY COURT SETTLEMENT ( NARROW OPPORTUNITIES TO DO THIS IN A…

10. Finance loans (furniture as collateral). 9. Avoid a judgement. 8. Wipe out a car deficiency. 7. Wipe out a old home deficiency. 6. General unsecured debts. 5. Furniture loans. 4. Collections. 3.IRS  and state taxes. 2. Credit card debt. 1. Medical debt!

Chapter 7 article written by Columbia, SC bankruptcy lawyer Daniel Stone What are some of the best reasons to wait to file Chapter 7 bankruptcy in South Carolina? For many of my clients, time is of the essence and they are literally running to my office to save their home from a foreclosure sale. In their cases, it…

Can creditors garnish your wages in South Carolina? The answer is NO with a few caveats. In most states, creditors can obtain a civil judgment against the debtor and then garnish their wages. In our sister state of Georgia, if you have failed to pay on your credit card, the credit card could obtain a…

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