Services
Tax Relief
If you owe the IRS back taxes it is important to understand your rights and options. Ignoring your tax debt will only make matters worse. It is crucial to address your tax problem as soon as possible before the IRS takes action. Contact our office today to see what your options really are. Below are some tax options you may qualify for:
Offer in Compromise (OIC) - An offer in compromise is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer's tax liabilities for less than the full amount owed. A large percentage of taxpayers do not qualify for an OIC, it is important to look at the other tax debt relief options that are available.
Installment Agreement - An installment agreement is essentially a long term payment plan that is agreed upon by the taxpayer and the IRS. Although you do not necessarily need the help of an attorney to complete this application it would be wise to consult with one before getting started to make sure it is the right option for your situation.
Partial Payment Installment Agreement - A taxpayer's agreement with the IRS where the IRS reviews a taxpayer's financial statement and determines that the taxpayer can make a monthly payment, but the payments will not pay off the entire balance within the statutory period.
Bank Account Levy and Wage Garnishment - If you owe the IRS back taxes they have a number of methods to fulfill your obligation to them. One of the most effective actions the IRS can take is to file a levy against certain assets. Common examples are bank account levies and wage garnishments. Having the IRS levy your bank account or garnish your wages can make it impossible to pay for your basic living expenses. It is important to remedy your tax problem to avoid such an occurrence. If you do have a garnishment or bank account levied, contact our office immediately to see if you qualify to have your garnishment released or levies lifted.
Currently Not Collectible - The taxpayer is admitting that they can no longer pay for their tax debts. The Currently Not Collectible clause is declared by the IRS, but only after it has received all the evidence necessary to show that the taxpayer is indeed incapable of paying the back taxes and being able to pay for daily necessities.
Debt Solutions
If you are like many Americans in this economy you are facing an overwhelming amount of debt and looking for a solution. Here at Financial Relief Law Center we have many solutions to your debt problems.
Credit Card Compromise - A program where our attorneys negotiate with your unsecured creditors to improve the terms of your agreement so that you can get out of debt quickly. If the client was previously making only the minimum payment required, this will generally represent an enormous reduction in the amount paid over the life of the debt owed. Our goal would be to have you pay your minimum payment or less and get you out of debt in 36-60 months. Generally, if you just make minimum payments on the existing terms it will take decades to pay off the debt.
The biggest benefit to this program is that there are no derogatory marks for us to negotiate a Credit Card Compromise. If we are not successful in negotiating the compromise, then there is no fee for negotiating that amount. The creditor often requires the consumer to close the account. If you want to protect your credit at all costs we suggest you speak to one of our professionals regarding our Credit Card Compromise program as it does not affect your credit but can incredibly help you financially.
Settlement Program - Our Settlement Program is the process in which both the consumer and creditor agree to resolve a debt, for less than what is owed. The purpose of the program is to eliminate the enrolled debt quickly and reduce the overall amount paid back significantly. Our Settlement Program is ideal for those that have a serious debt problem and do not want to file bankruptcy or don't qualify for a Chapter 7 bankruptcy. Our team will work with you to establish a payment program that is affordable and allows us to negotiate with the creditors for a favorable settlement and fulfill your financial obligation to them in a timely manner.
The program is primarily for those who are experiencing financial hardship that can include: unemployment, reduction in earnings, medical expenses, increase in interest rates making the debt unmanageable. perhaps spending beyond your means or anything that would cause you to fall behind on paying your creditors.
It must be mentioned that the Settlement Program does adversely affect your credit rating because while you are making monthly payment into your Client Savings Bank Account, your creditors are not being paid and the accounts are going delinquent. Settlement is an aggressive yet effective approach in reducing the amount of money you pay back to the creditors that are owed; we feel it is the best viable alternative to a Chapter 13 bankruptcy.
Bankruptcy
Thousands of Americans have been able to rebuild their financial status through bankruptcy. At Financial Relief Law Center we will analyze your entire financial situation and provide you with sound advice empowering you to make an informed decision. A bankruptcy should never be filed without first consulting an experienced attorney who has a clear understanding of the process and your best interest as the goal.
Bankruptcy can provide relief from the constant threats and harassment of creditors. Once you have retained our firm, you will refer all creditors to Financial Relief Law Center. Creditor threats and harassment will stop immediately!
Chapter 7 Bankruptcy allows or the discharge of most debts as opposed to the repayment of debt. Chapter 7 Bankruptcy is the most common type of bankruptcy in today's economy. In a Chapter 7, a bankruptcy trustee gathers and sells the debtor's non-exempt assets and uses the proceeds to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. This is most commonly referred to as "liquidation". However, the Bankruptcy Code does allow the debtor to keep certain "exempt" property. For this reason, it is crucial to have a seasoned attorney with expertise in bankruptcy law to protect your interests.
Chapter 7 Bankruptcy can provide you with the frest start you are entitled to under the law by helping you relieve your overwhelming debt.
Chapter 13 Bankruptcy is generally for individuals with regular income who want to develop a payment plan that will repay all or part of their debt. Under this chapter, consumers agree to a repayment plan making monthly installment payments to creditors typically over a three to five year period. This type of bankruptcy is ideal for consumers who can generally afford to pay their bills but require a restructure of the debt to lower their payments over a longer period of time.
Remember, it is important to receive sound advice from a reputable law firm before filing for bankruptcy. At Financial Relief Law Center, we understand every case is unique. We will evaluate your particular situation at no cost and provide you with the solution that is best for you!
Since we are a financial services law firm, we have multiple options for dealing with consumer debt. We provide flexibility, professionalism and care. No matter which option you choose, we will guide you every step of the way on your path to financial freedom!
CALL US TODAY FOR YOUR FREE CONSULTATION!
(866) 504-3752
Loan Workouts
Loan Workouts have been in existence for many years; however, there wasn't an urgent need for banks to exercise them because of the appreciating home market values. If a homeowner was delinquent on a mortgage, it made financial sense for the bank to foreclose rather than modify the existing terms. However, given the current economy and housing crisis, many banks and lenders now need to modify loans in order to stay in business.
If you are having difficulties paying your mortgage or you are currently in foreclosure, you may qualify for a Loan Workout, forbearance or repayment plan.
The two main qualifications lenders look for are: a legitimate hardship and an ability to make a reasonable payment.
If you are currently struggling to make your monthly mortgage payment or you are in foreclosure, contact our office immediately! You may have options!
Our staff has helped many homeowners save their home and avoid foreclosure. It is important when dealing with your most valuable asset to hire a competent firm that has the experience to deliver the results you expect and a dependable firm that will give your case the attention it deserves. When you retain our services, our staff will treat your case as if it were their own.
We perform our services before we collect any money and are Compliant with SB 94.
Past Loan Workout Results