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Law

Don’t File Bankruptcy Before the End of the Year

Estimated read time 2 min read

Many bankruptcy filings are centered around tax troubles. It is easy to see why bankruptcy is such a powerful tool for getting out of tax debt.

However, filing bankruptcy before the end of the year might solve a portion of your tax problems. The bankruptcy does not include taxes for the current tax year.

Don’t Wait to Pay Taxes

Most people who owe back taxes face similar problems for the current year.

They’ll owe taxes in 2022 when the tax year ends on December 31st. Their withholding is not up to the April 2023 taxes.

Chapter 13 is almost always the best chapter for tax troubles. However, the Chapter 13 plan does not address tax years that haven’t been closed at the time the case is filed.

This means that your bankruptcy liability for the year you file bankruptcy does not get priority over your credit card debts for payment. The plan doesn’t allow the open tax year to be paid.

In Bankruptcy, Tax Liens

The IRS Threatens Levy

No matter how large the tax liens may be, Chapter 13 liens will only pay the fair market value of your possessions at the time you file your case.

The equity you have in your assets, which remains after any tax liens were filed before the lien, is what the liens are paid.

The IRS Threatens Levy

People often call a bankruptcy lawyer to get a notice of intent for the levy. This notice can seem to spell doom for your life.

An actual levy is not an option for the IRS. The Service has many processes and procedures that are part of its collection process.

This article was written by Alla Tenina. Alla is one of the best tax attorneys in Los Angeles California, and the founder of Tenina Law. She has experience in bankruptcies, real estate planning, and complex tax matters. Visit www.teninalaw.com for more information.

The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user, or browser; the ABA and its members do not recommend or endorse the contents of the third-party sites.

Categories
Law

Nausea and Vomiting after a Car Accident

Estimated read time 3 min read

After a car accident, nausea and vomiting are common signs of severe injuries. It is common to ignore nausea or vomiting following a car accident. These symptoms are often ignored because people associate them with the anxiety and fear that comes after a car accident. If you are experiencing nausea and vomiting after a car accident, don’t assume you feel this way because of the anxiety and fear that often follows a crash. A doctor should diagnose and plan treatment for nausea and vomiting following a car accident. If not treated quickly, these symptoms can indicate severe injuries that could lead to permanent or long-lasting damage.

Reasons for Vomit and Nausea After a Car Crash

Different injuries can be caused by the force of a car crash. These symptoms can include nausea, stomach pain, vomiting, and stomach discomfort. Here are some car accident injuries that can make someone feel nauseated and vomit.

Abdominal Muscle Strain

An abdominal muscle strain, like any other soft tissue injury, can cause swelling, pain, and discoloration at the injury site. It can also cause nausea and vomiting.

Whiplash

Reasons for Vomit and Nausea After a Car Crash

Whiplash can be described as a neck injury. Whiplash occurs when the neck is exposed to sudden back-and-forth movement. Whiplash can cause nausea or vomiting, even though it is a neck injury. If whiplash causes blockage in circulation, for example, nausea may occur. Lack of circulation can cause nausea and headaches by affecting the inner ear or head.

Traumatic Brain Injury

Traumatic brain injuries occur when the skull is subject to a severe blow or jolt. A variety of symptoms can result from traumatic brain injuries, including nausea, vomiting and dizziness, headaches, confusion, loss of coordination, fatigue, and convulsions.

This post was written by Kelly-Ann Jenkins of Jenkins Law P.L. Kelly-Ann is an insurance claims attorney. The information on this site is not intended to and does not offer legal advice, legal recommendations, or legal representation on any matter. Hiring an attorney is an important decision, which should not be based on advertising. You need to consult an attorney for legal advice regarding your situation.

The information provided on this website does not, and is not intended to, constitute legal advice; all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user, or browser; the ABA and its members do not recommend or endorse the contents of the third-party sites.

Categories
Law

Can I Get a Car After Bankruptcy?

Estimated read time 3 min read

It is difficult to declare bankruptcy, but it could be the right one. After you have accepted that your debt is too large, you can begin to think about the future. You may need clarification about purchasing a car after bankruptcy.

It is possible to purchase a car even after bankruptcy filings. Your options will vary depending on the type of bankruptcy you have, how long ago it has been, and why you need the car.

Bruner Wright offers free consultations to discuss bankruptcy options.

Is It Possible to Buy a Car After Declaring Bankruptcy?

Lenders and auto dealers do not have to exclude buyers who have been in bankruptcy.

Your car-buying experience could be affected if you file for bankruptcy. As a result, you may be subject to higher interest rates.

What if I File for Bankruptcy?

After declaring bankruptcy, you don’t have to wait until then to purchase a car. You should know that bankruptcy can impact the terms of any loans you take out.

These impediments tend to diminish over time. As the years pass, your credit score will become less affected. To help build your credit score, it is a good idea to open and use several consumer credit accounts once a case has been filed.

What Should I Do After My Bankruptcy Discharge?

What Should I Do After My Bankruptcy Discharge?

After you have paid off your debts through bankruptcy, you are free to purchase any car you like. Even if your credit score is stable, it may be more financially feasible to pay cash. These payments can help rebuild your credit score if you finance the purchase.

Financing Restrictions

A debtor in chapter 7 bankruptcy would not like to use bankruptcy estate property, trade-in vehicle or cash may be included in the purchase transaction. It is essential to dispose of bankruptcy estate property before it can be used for purchases.

This post was written by Trey Wright, a Jacksonville chapter 7 attorney with extensive experience! Trey is one of the founding partners of Bruner Wright, P.A. Attorneys at Law, specializing in bankruptcy law, estate planning, and business litigation.

The information provided on this website does not, and is not intended to, constitute legal advice; all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user, or browser; the ABA and its members do not recommend or endorse the contents of the third-party sites.