Canton Debt Relief Attorney
The IRS has considerable power at its disposal to compel the payment of tax debts. The IRS may garnish your wages, take possession of your tax refunds and levy your bank accounts to force payment of your tax debts.
Depending on the age and nature of your tax debts, you may be able to discharge your IRS tax debts by filing for bankruptcy. Not all IRS tax debts are eligible for discharge, so it is important that you speak with an experienced bankruptcy lawyer who can provide you with a knowledgeable and candid assessment of your options.
I am IRS tax debt attorney Charles Covey. I have been helping clients find solutions to difficult debt challenges for more than 30 years. I have helped thousands of clients obtain debt relief with Chapter 7 bankruptcy and Chapter 13 bankruptcy. To learn more, contact my law office in Peoria, Illinois.
How Can Bankruptcy Help?
With a Chapter 7 bankruptcy, some IRS tax debts can be discharged entirely. If your tax debts are not eligible for a Chapter 7 discharge, a Chapter 13 bankruptcy may allow you to repay your tax debts over the term of a three- to five-year debt repayment plan. When you file for Chapter 13 bankruptcy (or Chapter 7), an automatic stay will go into effect which can halt an IRS wage garnishment (technically it is a wage levy, but it works in much the same way).
You will have to make monthly payments under the terms of your Chapter 13 plan that will go toward your IRS tax debts, but the amount you pay may toward your debts under the plan may be less than what you were previously paying and you can eliminate the IRS levy. Of course, Chapter 7 and Chapter 13 bankruptcy provide other significant forms of debt relief which can help you obtain the fresh start you have been seeking.
Contact a Peoria Bankruptcy Lawyer
Call 309-674-8125 to schedule your free consultation. You may also contact me by e-mail. We work with clients throughout Illinois including Pekin, Canton, and Galesburg.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.