Honey Law Firm has over 25 years of debt relief experience for businesses and families. We are committed to putting an end to:
Foreclosures, repossessions, bill collectors, and garnishments are all types of repossessions.
We have a lot of experience with bankruptcy and tax law.
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Bankruptcy is a federal court proceeding that allows individuals and businesses who are unable to pay their bills to start over financially. Your creditors will be required to immediately cease any attempts to collect debts against you while you are in bankruptcy.
The simplest way to file a bankruptcy petition is with the assistance of a law firm like Honey. We can walk you through the process step by step, ensuring that everything goes smoothly and without hiccups.
If you have a lot of credit card debt, medical debt, or other unsecured debt and few assets, Chapter 7 bankruptcy may be the best option for you. Your unsecured debts are discharged in a Chapter 7 bankruptcy case, which means you no longer owe them. Typically, your case will last no more than 90 days. Certain secured debts, such as your house and car, will be allowed to be kept. To keep these, you must reaffirm the debt with your creditor and keep up with your payments. Secured debts like these will not be discharged, and you will continue to pay them as usual once your case is over. It is critical to understand that, while most unsecured debts will be discharged, certain debts, such as alimony, child support, and student loans, will not be discharged.
Chapter 11 bankruptcy allows businesses, corporations, and some individuals to restructure their debts without the constant harassment of creditors. An automatic stay is imposed on the day you file your case, requiring creditors to cease all collection efforts against you. As a Chapter 11 debtor, you will propose a plan to repay your creditors while remaining profitable following the conclusion of their case. In a Chapter 11 case, you have several options. You can choose to reduce your debts by paying some and discharging others, or you can choose to discharge burdensome contracts and leases. Each plan is tailored to your specific needs, to complete the case with a lower debt load and a more profitable business. When the court and your creditors agree on your plan, the stay is lifted and you can begin repaying your debts. If you have paid your debts as specified in your plan over three to five years, your remaining debts will be discharged. Not all debts, including domestic support obligations and certain types of tax debt, are dischargeable in Chapter 7 bankruptcy, as they are in other types of bankruptcy.
Chapter 13 is essentially a debt reorganization. As the debtor, you restructure your financial obligations and propose to pay them over three to five years. An automatic stay is in effect while your bankruptcy case is pending. The automatic stay prevents creditors from taking collection actions against you, such as filing lawsuits or garnishing your wages. If you are behind on your car or house payments and want to catch up, Chapter 13 is the way to go. Chapter 13 can stop foreclosures, repossessions, and wage garnishments while also giving you time to pay back taxes. It also gives you the option of disputing the claims of creditors who may be attempting to collect more than you owe.
A tax attorney understands how to navigate the complex and constantly changing rules and regulations of federal and state tax laws. When you hire a tax attorney, the IRS is required to conduct all negotiations through your lawyer. This useful ‘buffer’ gives you time to figure out the best way to respond to IRS inquiries.
Honey Law Firm is familiar with IRS laws that protect your wages, bank accounts, and property from garnishment or seizure by the IRS. Any statements you make will be protected by attorney/client privilege.