Submitted by Jen Jones on Sat, 06/13/2009 - 11:07pm
You know it as the faceless organization behind all those numbers subtracted from your paycheck, but for those who are considering bankruptcy, it pays to understand just what impact the Internal Revenue Service could have on you.
The IRS is a party to more than 40 percent of all bankruptcy cases, primarily because past due taxes are fairly common. If the collection of last year's taxes is the only reason they are listed as a creditor, then everything should work out just fine. However, those who have attempted to bury assets to avoid tax obligations in conjunction with a bankruptcy typically lose more than a decent credit standing. They lose their freedom. For example:
There doesn't need to be any sort of real moral to these stories, as the message is pretty clear: trying to defraud a bankruptcy judge is one thing; trying to sneak by the IRS is something completely different. There is simply no sense in adding federal charges to what may be a common and very helpful bankruptcy process.
While tales of bankruptcy fraud may sound like something out of a crime novel, the truth is that people who undermine the court do a terrible disservice to the benefits of bankruptcy. Not only do such actions initiate additional laws that could further hamper a person's ability to file for financial protection, they simply perpetuate the stereotype that bankruptcy is something we should stay away from at all costs. Which isn't true.
Maybe there is a lesson here. Perhaps its about being open and honest with yourself about spending, the occasional mistake (we all make them) and the ability to admit we need help.
Are you a good, honest, hardworking person, simply strapped with too much debt? Get a checkup and, if need be, a bankruptcy tuneup with an experienced bankruptcy attorney. Whether you end up filing bankruptcy or not, it pays to know your rights, all your options, and what you can and cannot do legally. You'll be surprised...in a good way.
In North Carolina, you have available the experience you need. The Law Offices of John T. Orcutt have helped over 30,000 families get out of debt and back on their feet. They serve 28 counties in North Carolina and offer a free consultation out of 4 different locations: Raleigh, Durham, Fayetteville and Wilson. Make an appointment. You'll be glad you did. During normal business hours, just call toll free to +1-833-627-0115. At night and on weekends, you can set up your own appointment "online" by visiting their website at www.billsbills.com.
Debts Hurt! Got debt? Need help? Get started below!
Serving All of North Carolina
Bankruptcy Attorneys Raleigh NC (North)
6616 Six Forks Rd #203 Raleigh, NC 27615 North Carolina
Tel: (919) 847-9750
Bankruptcy Attorney Fayetteville NC
2711 Breezewood Ave Fayetteville, NC 28303 North Carolina
Tel: (910) 323-2972
Bankruptcy Attorney Durham NC
1738 Hillandale Rd Suite D Durham, NC 27705 North Carolina
Tel: (919) 286-1695
Bankruptcy Attorneys Wilson NC
2215 Nash St N Wilson, NC 27896 North Carolina
Tel: (252) 234-9194
Bankruptcy Attorneys Greensboro NC
2100 W Cornwallis Dr. STE O Greensboro, NC 27408 North Carolina
Tel: (336) 542-5993
Bankruptcy Attorneys Southport NC
116 N Howe St. Suite A, Southport, NC 28461 North Carolina
Tel: (910) 218-8682
Bankruptcy Attorneys Wilmington NC
116 N. Howe Street, Suite A Southport, NC 28461 North Carolina
Tel: (910) 447-2987