Golden State Law Group San Diego

Bankruptcy Terms: Wage Garnishment

Individuals who owe back taxes or consumer loans may be having their wages garnished. This process involves automatically transferring a percentage of an employee’s paycheck to pay off a loan over time.

If your debts are so severe that your wages may be garnished for decades, bankruptcy can be an effective solution. A state entity generally performs garnishment as a result of a court order, and a reversal of that order by the bankruptcy court will help individuals wipe away debt and stop garnishment once and for all. Debtors with a great deal of unsecured loans such as credit card debt may be able to file for a Chapter 7 discharge to eliminate these lines of credit.

The Golden State Law Group is a Southern California law firm with years of experience helping local households avoid wage garnishment and wipe away loans through bankruptcy. Whether you are seeking Chapter 7 or Chapter 13, our attorneys can help. Call our San Diego office today at (858) 240-2480 to set up an appointment and begin working toward a garnishment-free life.

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Examining the Role Played By Contracts in Bankruptcy Law

In Chapter 13 bankruptcy, paying off larger debts involves the creation of an executory contract. This is a legal agreement between the creditor and debtor that outlines the way in which the large debt will be paid off over time.

The federal bankruptcy court judge has the power to adjust terms within these contracts to ensure that they become favorable to the creditor. If you have a steady income and secured debts, filing for Chapter 13 may allow you to restructure your current contacts and lower your monthly payments. This move can also help stop foreclosure proceedings and allow you to keep your home.

As with all financial matters, bankruptcy can benefit some households more than others. Consequently, it is important to speak to an experienced lawyer about your eligibility. San Diego area residents in need of actionable advice should contact the Golden State Law Group by calling (858) 240-2480. Our skilled staff can help ensure that your executory contracts make a dent in your debt.

Stopping Complaints from Creditors When Filing Bankruptcy

Creditors can be particularly tenacious when faced with the possibility of not getting their money back. As a result, lenders and debt collection agencies will often stop at nothing to try to collect certain overdue loans. Bankruptcy’s automatic stay process is designed to stop these lenders in their tracks, but it does not always work.

By law, all creditors named in the bankruptcy petition are required to stop their collection efforts as soon as the Chapter 7 or Chapter 13 paperwork is filed. However, collection agencies may not know about the proceeding and may attempt to harass you once more. If you ever find yourself in this situation, tell your bankruptcy attorney as soon as possible. Your lawyer will know that these creditors are violating the law, and he or she can help you file a legal claim against the at-fault companies.

Are you a San Diego or Escondido resident thinking about bankruptcy? If so, the Golden State Law Group can help. We know the bankruptcy code inside and out, which allows our skilled attorney to fight for you during this complex process. Call our office today at (858) 240-2480 to learn how to discharge debt and start over.

What Happens When You Can't Pay Your Tax Debt

This video explores the options for those individuals who owe back taxes to the federal government. Millions of Americans can find themselves in this situation if they are self-employed, under-withholding, or failed to file taxes in the past.

If you cannot pay back the amount owed, it is important to speak to an attorney who knows the tax code inside and out. Once you have filed your taxes, the government will send you a bill for the full amount owed, and you can begin strategizing how to pay down the amount. An enrolled agent may be able to negotiate with the IRS to bring your debt down to a manageable payment. Watch the full clip to learn more.

Golden State Law Group attorneys have more than 35 years of experience helping Californians avoid crippling tax debt through debt negotiation and resolution. By being proactive, we help clients achieve favorable results. Call (858) 240-2480 today to schedule a free appointment at any of our three Southern California locations.