A Guide to Chapter 7 Bankruptcies The most common type of bankruptcy is a Chapter 7 bankruptcy. This is also called a liquidation. The process usually takes approximately three to four months for a standard case. During this process you file a petition that provides information regarding your income, expenses, debts, assets, and personal information. […]
Top 6 Bankruptcy Myths There are many bankruptcy myths out there. These myths keep individuals from seeking out help and considering other potential options. However, most of these myths are completely wrong. If you are facing financial hardship, you owe it to yourself to understand your options. 1. Your credit score drops excessively […]
It is 2017 Tax Season! We are in the midst of 2017 tax season. The tax filing season is in full swing. The Internal Revenue Service is anxiously awaiting for you to file your 2017 taxes. This year, you must file and pay your taxes by April 17, 2018. Remember, if you file for a tax […]
Many people use their tax refund to pay for necessary expenses. For some, the money allows for repairs on their home; for others the refund allows them to pay off some debt or afford medical or dental procedures. But in general, it is money you have been waiting for all year. When you are struggling […]
Ashley F. Morgan Law, PC helps many people with their debt issues. We pride ourselves in being able to help individuals find the best solutions for their individual problems. Our firm often helps people address their traditional debts, such as credit cards and loans, through the bankruptcy process. We also help people with tax issues […]
Many people fear bankruptcy because it means they will lose everything, or they do not want to file because someone might find out that they filed, or the client believes it is an admission of failure. These are not always correct. When someone comes into our office we try to let them know bankruptcy is […]
There have been reports of up to 40% of student loan borrowers are not making their payments. While student loans can often feel overwhelming and overly burdensome, not making payments can create even worse problems. Not making your student loan payments will adversely affect your credit. When you are late making a payment, creditors will […]
Tax Debt: One of the most confusing debts out there. Not many things instill fear into Americans than owing taxes to the Internal Revenue Service. Chills may go down your spine when you open a letter from the IRS with a bill. Your first question is: “Why do I owe taxes?” While income taxes are […]
Starting in January 2018, the Internal Revenue Service (IRS) will forward information about certain taxpayers to the Department of State to revoke passports. This was the first action taken to enforce the Fixing America’s Surface Transportation (FAST) Act provision, which called for those taxpayers with “seriously delinquent tax debt” to have their passports revoked if […]
IRS Circular 230 Notice. In accordance with Internal Revenue Service requirements, this is to inform you that any information on this website that could be construed as United States tax advice is not written or intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed on this website. See IRS Circular 230.