Tag Archives: bankruptcy lawyer

Could the Coronavirus Pandemic Lead to More Bankruptcies?

Life is changing for billions of people across the globe as coronavirus (SARS-CoV-2) continues to spread. Here in the United States, there is uncertainty over how a possible shutdown could affect businesses and consumers. In Italy, where authorities are testing thousands of cases each day, most businesses are shut down. An “Italy-style shutdown” is underway in parts of the United States. California recently ordered its residents to stay indoors, with some exceptions. Depending on how the crisis unfolds, recent events could spark numerous personal and business bankruptcies. How Could the Coronavirus Pandemic Affect Families and Individuals? Medical debt is a factor in some bankruptcy cases. For people with chronic health conditions, or those who suffer a serious injury, they could face unaffordable medical bills. People in this situation are likely to have problems paying their other debts. The same could be true by the time the dust settles on the…
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3 Helpful Tips for Filing Your Taxes in 2020

Tax season is quickly approaching, which may not be the most exciting news. We all hope for a quick and painless tax season, and perhaps a substantial refund, this time of year. Fortunately, there are ways of making the filing process easier, and thus more enjoyable. Below we sketch out some top tips for filing taxes in 2020, along with information on how to handle bankruptcy and the IRS. Tips for Filing Your Taxes in 2020 1. Find a free filing service. There are now many free tax filing services available online. The IRS offers their Free File option on their official website. For those who make less than $69,000 a year, Free File offers name brand software for filing federal taxes. Those who make more can find an electronic alternative to the traditional paper tax forms. You can also use Free File to get an automatic six-month extension for…
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What Does a Debt Settlement Company Actually Do?

Kansas City Bankruptcy Attorneys Explain the High Risks and Low Rewards Debt settlement companies claim they will significantly lessen the amount of money owed through negotiation with credit card companies and other creditors. So how does this actually work? To use a settlement company’s services, you stop making payments on the debt itself. Instead, funds are deposited into an account with the debt settlement company. Those funds are in turn used by the settlement company to pay creditors—and the settlement company itself—only after (or if) a settlement amount has been agreed upon. How Do Debt Settlement Companies Make Money? Many companies require substantial up-front fees and/or monthly fees to start the process. Additionally, settlement companies’ fees can include a percentage of the amount of money paid to settle the debt. However, choosing to stop making payments on a debt means additional interest and fees will continue to accumulate on the…
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