Failing to file a tax return with the IRS is an enormous mistake, one that can have very severe consequences. There are many methods used by the IRS to find out about unreported income, earnings, and other items that require a tax payment. If you do not file a return the Internal Revenue Service will catch this fact almost all of the time and then you could be facing serious financial penalties or even a criminal case in some situations.

If you owe taxes but can not pay right now failing to file a tax return will not make this situation go away, it will only compound the problem. The IRS will work with you to schedule payments that youi can afford. You may still have interest owed on the unpaid tax liability but the cost will be far less than if you do not file at all and are caught by the government.

Wage Garnishment Versus Voluntary Payment Arrangements

If you file a tax return but can not pay the IRS will usually make arrangements to accept payments. If you fail to file and then are caught the IRS may not be willing to accept payments and a wage garnishment against your paycheck may be issued. If the taxes owed are substantial then the IRS may issue charges of tax evasion, and this is a criminal offense that can carry prison time as a potential sentence.

Tax Refund And Liability Considerations

If you fail to file a tax return you could miss out on any tax refund that you are entitled to. Refunds for a period of more than 3 years in the past do not have to be issued by the IRS because the statute of limitation for the refund has passed.

Any delay in filing your income tax with the IRS will lead to larger penalties and more interest being assessed. Many celebrities have found out the hard way that the IRS does not play around when it comes to a failure to file tax returns. Wesley Snipes received prison time, and many other celebrities and well known individuals have been caught in this trap.

Financial Difficulty Is No Excuse Not To File

If you are facing financial difficulties the worst thing you can do is fail to file a tax return with the IRS. If you can not afford the initial tax liability then you will definitely have problems paying a greatly inflated amount once the IRS catches your failure to file.

Bankruptcy may be one option to get your finances back on track, and a chapter 7 filing can eliminate most debts so that your financial resources are freed up to pay your taxes. In some cases bankruptcy can even eliminate certain past due taxes. Discussing your specific situation with an experienced bankruptcy attorney will help you get the answers you want and need.

The bankruptcy attorneys at West & Hurley can provide a free debt consolidation consultation which will help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

A poor economy means that more people are falling behind on debt payments, and there are some scam artists and fraudsters out there who are taking advantage of this fact. In the last few months there have been a number of news reports provided to notify consumers about these tactics. The scam artist will contact a consumer and claim to be trying to collect on a debt that the con artists states the consumer owes.

This type of fraud and scam has two purposes, to try and get identifying information that makes it easy to steal the identity of the consumer and to get the consumer to wire or transfer money to the person running the fraud. Consumers should use extreme caution when dealing with anyone who represents that they are a debt collector or that a debt is owed.

Abusive And Intimidating Phone Calls Should Be Reported Immediately

Some debt collection practices are abusive and illegal, and you should know your rights as a consumer when contacted by a debt collector. It is not legal to threaten arrest, threaten to file a lawsuit, or be demeaning or abusive towards the consumer in any way. Unfortunately many consumers do not understand these rights and are harassed daily, by scam artists and in some cases by legitimate debt collectors. There have even been cases of violence threatened in an attempt to get the consumer to pay up or provide personal identifying information.

Any abusive, intimidating, or threatening communication should be reported to the proper authorities immediately. Never provide financial or personal information unless you know exactly who is receiving this information. If there is any doubt whether you owe the debt or that the debt collector is legitimate ask them to verify the debt and send you the results through postal mail. A legitimate debt collector will already have your address and other personal information.

Chapter 7 Bankruptcy Protection Can Eliminate Most Debt

If you are receiving phone calls and letters about debt but you do not have the financial resources to pay these debts then bankruptcy may be an option in most cases. Chapter 7 bankruptcy can protect you and stop the harassment, so you do not have to fear answering the phone or checking your mail. If your debts are eliminated then you will not fall prey to the scams that are being perpetrated on consumers, and you can get a bright financial future at the same time.

The bankruptcy attorneys at West & Hurley can help with a free debt consolidation consultation. This can assist you in finding the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

In many cases a job loss can lead to unemployment benefits. Unemployment benefits cover a calculated amount of your wage loss for a determined number of weeks to help while you look for another job. If you quit your job due to an injury then you will usually not be able to collect these benefits for a few reasons. The criteria for unemployment benefit eligibility will vary from one state to the next so it is important to find out what this criteria is in your state.

As a general rule unemployment benefits will only cover an involuntary job loss, which means that you lost your job for reasons beyond your control. Quitting a job is generally deemed within your control unless there are extenuating circumstances which make the job intolerable, such as unsafe working conditions or harassment on the job. If you decide to quit simply because you are no longer satisfied with the job or for other personal reasons then unemployment benefits will be denied in most states.

Injured Individuals May Not Qualify For Unemployment Benefits

In most states the conditions for receiving unemployment benefits is that you are able to work and seeking full time employment. If you are injured on the job then workers compensation insurance should cover most of your lost wages due to the injury, as well as all of the medical bills for the work related injuries.

If you are injured and the injury does not occur as a result of your job then workers compensation will not cover the wages or medical bills. In addition you will usually not qualify for unemployment if you quit due to your injury because you voluntarily quit and the injury means that you are not able to accept a full time job that is comparable to the job you quit.

Bankruptcy Can Provide Debt Relief During Unemployment

If you are injured and facing financial difficulties you may not be eligible for unemployment but there are solutions available. Chapter 7 bankruptcy can help eliminate most if not all of your debt and ensure that you get a fresh financial start. An off the job injury or a job loss can devastate your financial situation and fast action is needed to contain the damage.

The bankruptcy attorneys at West & Hurley can provide you with a free debt consolidation consultation, to help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

Bankruptcy Myths

Filing for bankruptcy protection is a complex process, one that should not be undertaken without legal advice. There are many myths that are available about bankruptcy and these myths can be very harmful. It is important that the true facts are known by Ohio consumers so that eligible individuals benefit from the bankruptcy process.

#1: All Your Debts Will Be Eliminated Through Bankruptcy

Bankruptcy does not eliminate every type of debt and some individuals may still owe certain debts after the bankruptcy case is discharged. This solution is not a fast fix and does not offer quick debt resolution. The bankruptcy law lists certain debts that can not be discharged with bankruptcy, and these include most unpaid taxes, child support, alimony, student loan debt, and certain other types. Medical debt that you owe and credit card debt will normally be eliminated through discharge. If the only debts owed are the types that can not be discharged under the bankruptcy law then filing for protection may be a waste of time and money. An experienced bankruptcy attorney can provide advice on which debts will be resolved through discharge.

#2: Filing For Bankruptcy Will Prevent Credit Approval In The Future

A common myth is that filing for bankruptcy means an individual will not be able to get credit in the future. This is completely false. In fact most people will start to receive special credit offers as soon as their bankruptcy has been discharged. Some lenders are specialists in post discharge lending but be aware that the interest rate for the credit will be higher because of the bankruptcy case. Make sure not to dig a hole again, and only apply for the best offers received. Use the credit wisely and within a couple of years with a good payment schedule the accounts will help gain credit approval with lower interest rates and a solid credit history.

#3: Everything I Own Will Be Sold Off

Many individuals believe that filing for bankruptcy means giving up all their assets and personal belongings but this is not the case. The bankruptcy attorney chosen will explain the exemptions allowed under the bankruptcy law. In many cases all of the property owned will be covered by the exemptions allowed. Exemptions may allow the individual to keep a home, a vehicle, tools, certain jewelry items, household belongings, and many other itemized items and areas.

The experienced bankruptcy attorneys at West & Hurley will provide a free debt consolidation consultation to help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

In a sign of the the tough economic times Judge Otis Wright, a U.S. District Judge and former Marine, has filed the initial forms for Chapter 7 bankruptcy . The required paperwork was filed in December of 2011 and includes both Otis Wright and his spouse. Judge Wright has spent 5 years on the bench and receives at least $160,000 in compensation for the position. According to the paperwork filed with the bankruptcy court the liabilities owed by the couple amount to $895,000 while their assets are valued at almost $833,000.

The debts listed in the bankruptcy petition includes a $30,000 balance on a CitiBank credit card account. Other credit card accounts listed as debts included $17,000 owed on two different department store cards. The bankruptcy attorney in the case has declared that the retirement account of the judge was depleted so that some of the outstanding debts owed could be settled before bankruptcy protection was sought.

The annual income for the couple has decreased in the last few years while their debt has stayed stable. The income claimed for 2009 was $271,000 while the 2011 income reported was only around $171,000. The bankruptcy trustee in the case has not determined yet whether to ask for the sale of the home owned by the couple. This home is valued at more than $1 million and is situated in Rancho Palos Verdes.

A bankruptcy attorney would not be surprised by the fact that a federal judge has had to file for bankruptcy but many of the public are. There is a general mistaken belief that individuals who have more than $100,000 in annual income do not have money problems but this is not true. Judge Wright has a solid employment history, first in the US Military then as a  Deputy with the Los Angeles County Sheriff’s Department. This fact did not prevent him from encountering financial difficulties and needing an experienced bankruptcy attorney.

The bankruptcy attorneys at West & Hurley can provide a free debt consolidation consultation so that you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

Overlooked Creditor?

If a creditor is overlooked or forgotten when you file the initial bankruptcy petition then it may be possible to add the creditor later on in some cases. Filing for bankruptcy protection can be a stressful process, with numerous forms and large amounts of information required. If there are many creditors it may be very easy to overlook one or more during the initial stages of a bankruptcy case. The experienced bankruptcy attorney handling the case can help you determine whether the creditor can be added to the case.

As soon as you realize that a creditor is not listed in the documents filed with the bankruptcy court it is essential that you contact your bankruptcy attorney with the missing creditor and debt information. If the meeting of the creditors has not taken place yet then adding the overlooked creditors is usually possible. This step will require additional work by the bankruptcy attorney though and there may be an additional cost for this step. The bankruptcy lawyer will need to add the creditor to the case documents filed with the bankruptcy court, and then send the creditor a notice concerning the meeting of creditors in your case.

If you do not realize that a creditor was omitted from the case until the meeting of creditors has passed then you need to contact your bankruptcy attorney as soon as possible with this information. Once the meeting of creditors occurs then there are specific time restrictions and limitations for adding any additional creditors to the case. If the time limit has not passed then the bankruptcy lawyer can add the creditor by filing additional information and forms with the bankruptcy court. If the allowable time period for adding new creditors has passed then this debt will not be listed or discharged and you will still owe the debt after the bankruptcy case is closed.

Before filing for bankruptcy protection or even contacting a bankruptcy attorney you should get current copies of your credit reports from all 3 credit reporting agencies. These agencies are Equifax, Experian, and TransUnion, and each agency report may have different creditor and debt information. If you are contacted about a new debt or creditor that is not listed on any credit reports this information should be given to your bankruptcy attorney immediately. These steps will minimize the chance that a creditor is forgotten and a debt is not discharged.

The bankruptcy attorneys at West & Hurley can help provide a free debt consolidation consultation to help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

Another issue is improper denials by health insurance companies. Make sure that every explanation of benefit form that you receive from your insurer is examined closely. If the reason for a limited payment or payment denial is not clear call the insurer and get an answer. Look at the benefit package that you have to make sure all payment denials are legitimate. Some unscrupulous health insurance companies frequently deny claims wrongfully in the hopes that the consumer will not question this decision.

Medical billing mistakes can be the result of a physician or hospital or they can occur with insurance benefits. Carefully checking every item on a bill and every line of a benefit explanation form will ensure that your medical bills are accurate and that the insurance company pays all of the covered medical expenses. Some hospitals do not send an itemized bill to the patient after a hospital stay, just a paper with the total amount. If this is the case then call and request an itemized statement so you can check each individual charge closely.

If financial difficulties make it hard to pay your medical bills and other consumer debts bankruptcy may be an option. Good things happen to bad people, and good people may have difficult times. Bankruptcy is nothing to be ashamed of. If you owe a significant amount of money in medical bills, whether this is due to poor insurance coverage or no insurance coverage, then a qualified bankruptcy attorney can help offer options.

The bankruptcy attorneys at West & Hurley can help provide a free debt consolidation consultation to help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

As soon as you become aware that you are being sued, usually when you get a notice or are served a subpoena,you should do a number of things. Find out what your state’s statute of limitation for debts is. This time limit to bring any claims may be different in each state and this information is essential. Make sure that the debt involved in the lawsuit is still valid and the statute of limitations has not run out. If the time limit the law allows has passed then a request to dismiss the lawsuit should be made to the court based on this fact. In many cases a creditor will file suit after the time has elapsed in the hopes that the consumer and court do not notice this fact.

Another option is to request that the creditor validate the debt. This is your right as a consumer, and all of the debt information must be reviewed with the information on the application for credit or services. The debt validation process includes checking the debt account information closely, and this will include the total due on the account and when the account was initially opened. The last payment that was made towards the debt will also be noted in the account information. Any creditor who can not provide the verification information and results of this process may not be able to win in court.

Once you receive notice of a court hearing or other creditor action make sure to go over your credit card account closely. Any inaccurate information and errors should be marked and noted. Make sure you appear at any scheduled hearing in the court and you should also answer any complaint you receive and file this answer with the appropriate court clerk. If you do not appear a default judgment will be issued and you may find your property seized or your wages and bank accounts seized. If you are not sure what steps to take or you need professional legal help then an experienced bankruptcy attorney can help.

The bankruptcy attorneys at West & Hurley can help provide a free debt consolidation consultation to help you find the right answer for your unique debt problems and circumstances. We aggressively represent all of our clients. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

Debt Collectors FDCPA

Debt collectors can be very aggressive and demanding, even in cases where you do not owe the debt in question. Some debt collectors engage in unfair, abusive, and illegal activity in an attempt to collect on a debt. These tactics can be reported, and consumers can sue the debt collector if these practices are used but most consumers in Ohio are not aware of their rights. Some of the most common questions about debt collection and consumer rights are listed below.

What Is The Fair Debt Collection Practices Act?

The Fair Debt Collection Practices Act was enacted in 1978 and is designed to stop abusive debt collection practices and give consumers the right to dispute any debt or require the creditor to verify that the debt is legitimate and owed by the consumer. This statute outlines the methods used by debt collectors in an attempt to collect on a debt, defines the specific rights that consumers have in this area, and lists the penalties that can be imposed if the act is violated by a debt collector. The Fair Debt Collection Practices Act ensures that all debt collectors use fair methods and treat consumers with respect.

What Debts Does The Fair Debt Collection Practices Act Cover?

This statute covers most types of consumer debt. Medical expenses are covered, and so is consumer credit card debt. Vehicle loans and purchases, any household debt, and many other types of debt are covered and must follow this statute regarding debt collection activities.

What Methods Can Debt Collectors Use To Contact You?

There are several methods that can be used by debt collectors to contact consumers who owe a debt. Demands and other correspondence can be delivered through the mail, over the telephone, or by fax.

When And Where Can Debt Collection Activities Occur?

Debt collectors can not attempt to contact you before 8 am or after 9 pm unless you have given permission for contact outside of these hours. If contact is made at your place of employment and you tell the debt collector you can not accept calls at work then the debt collector can not contact you at your job again.

Can I Stop A Debt Collector From Contacting Me?

Yes, this can be done in more than one way. If you send the creditor a letter asking them not to contact you again concerning the debt then the creditor can only contact you to explain that the contact will cease immediately or to alert you of any actions that the creditor plans to take. This includes a property seizure, filing a suit in court, a wage garnishment, or other collection activities. Telling the creditor to stop harassing you will not stop collection activity, just the contact. Filing for bankruptcy will also stop creditors from contacting you because any discussions about your debt will be handled by the qualified bankruptcy attorney.

If you are like most people you have always paid your debts on time, but circumstances beyond your control like a job loss or catastrophic medical emergency affected your ability to meet your monthly expenses and debt payments. You may feel that bankruptcy is not an option out of a misguided sense of shame, and prefer to pay your debts if at all possible. Withdrawing from your IRA is not usually a sound financial move though, and in most cases consulting an experienced bankruptcy attorney who specializes in debt relief  is a better option instead.

Will The Withdrawal Completely Eliminate Your Debt?

In a small percentage of cases it may be possible to pay off all of your debts using your IRA balance, and this may be a good idea if all the debts will be eliminated completely. If you have money invested at 2% but the interest you are paying is 17%-22% then using the funds to pay off the debt completely can be a wide move. If you plan on only paying off some of your debt then your IRA should be left alone, because you may soon find yourself falling behind on payments again and this time you will also have a much lower IRA balance as well. The taxes and penalties on early withdrawals can be severe. An experienced bankruptcy attorney can help you determine the best move in your specific case.

Will Bankruptcy Put Your IRA Balance At Risk?

When you file for bankruptcy protection you will need to list all of your assets and accounts, and this includes 401k accounts and IRAs. Under the bankruptcy code even if you have large balances in retirement account and these must be listed your creditors are not allowed to touch any retirement funds that you have. Bankruptcy will not place these funds in jeopardy but you could if you withdraw funds from the retirement account. The bankruptcy trustee will not touch any retirement accounts that you have, but any money that you withdraw from these accounts will become fair game. An experienced bankruptcy attorney can help advise you on the best way to handle your financial problems and get the debt relief that you need. This can be done without placing your retirement savings at risk.

The bankruptcy attorneys at West & Hurley can help with a free debt consolidation consultation so that you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.