Collin County Attorney Fights Wage and Property Garnishment
The Internal Revenue Service (IRS) has the ability to garnish your assets to satisfy an outstanding tax debt, but they must follow a structured process. This process includes informing you of the intent to levy (garnish) your financial assets including bank accounts, vehicles, personal property and even real estate.
Facing IRS garnishment can be quite intimidating, but working with a Frisco bankruptcy attorney can help manage angst about the process. The Page Law Firm is a trusted resource serving Collin County and Denton County residents considering bankruptcy to address IRS wage and asset garnishment. Théda Page is an experienced bankruptcy lawyer with more than 25 years of legal know-how to her credit. If you are experiencing or facing IRS garnishment, she can help you examine all available options.
Can Filing for Bankruptcy Halt IRS Garnishment?
Yes, it is possible to stop IRS garnishment by filing for bankruptcy. This option may not eliminate the debt but may be helpful if your accounts have been frozen by the IRS due to lack of payment of tax debts. Before the IRS initiates the process of recovery you will receive correspondence.
It is important to contact your bankruptcy attorney immediately if you have outstanding tax debts. The sooner you work with a professional to resolve your issue, the more options you may have. Filing for bankruptcy can help unfreeze accounts and allow you time to prepare a plan for repayment while keeping treasured assets.
Helping Clients Address IRS Garnishments in Flower Mound and McKinney
While most creditors must sue you in order to win the right to garnish wages or other financial assets, the IRS does not have to take you to court. They can begin the process immediately. By filing bankruptcy, a court order known as an automatic stay goes into effect immediately. This means that all garnishments must cease. Depending on the type of bankruptcy, you are looking at different scenarios for addressing your tax debt.
Under Chapter 13, you will pay any tax debts as part of a structured repayment plan. Even though the garnishment ceases, it is important to make agreed upon payments to avoid further actions from the IRS to collect. If you choose to file Chapter 7, you can temporarily stop garnishment while your bankruptcy case is active. Once the case concludes, you may still owe all or a portion of the tax debt. It is of utmost importance to choose the best path for your circumstances. When you work with The Page Law Firm, you can be assured that all options will be clearly explained, including the pros and cons of each choice.
Connect with an IRS Garnishment Lawyer
If you are facing an IRS garnishment, or are already experiencing the effects of an IRS levy, please contact our reputable bankruptcy lawyer today. Call 214-618-2101 to schedule a confidential consultation to discuss your IRS debt matter. We serve Frisco, Texas including Collin County, Denton County, The Colony, Little Elm, Prosper, Celina, Plano, Carrollton, Lewisville, Flower Mound, and McKinney. Time is of the essence when it comes to matters of the IRS. We are ready to help you find a solution now.