Washington, D.C. Bankruptcy Lawyers
If you are a casualty of the recession — jobless, far behind on mortgage payments and harassed by creditors — you should consider the debt relief strategies of federal bankruptcy protection.
Bankruptcy, or the threat thereof, is frequently used as a means to settle certain tax debts with the Internal Revenue Service and State Taxing Authorities.
The bankruptcy lawyers at Frost Law have many years of experience with Chapter 7 liquidation bankruptcy, Chapter 13 reorganization bankruptcy, and Chapter 11 business bankruptcy.
Our lawyers will guide you through the bankruptcy legal process, tells you how to repair and rebuild your credit after discharge of your bankruptcy, and generally prepares you for a brighter future.
Ready to plan your debt free future with our lawyers?
Give us a call at (202) 618-1873 or fill out a brief contact form.
Our bankruptcy lawyers can also outline the connection between bankruptcy and your taxes. For example, you may have been told that tax debt cannot be discharged in bankruptcy. This is by no means true all of the time. While payroll taxes can never be discharged in bankruptcy, income taxes can be discharged under certain circumstances.
Consumer and Business Bankruptcy Advice You Need — From Frost Law
During your initial consultation with our bankruptcy lawyers, you will learn more about:
Chapter 7 bankruptcy
Qualified for via the “means test,” featuring property exemptions that allow you to keep certain assets during your bankruptcy experience, and allowing for elimination of medical debt and credit card debt.
Chapter 13 bankruptcy
A debt repayment plan executed during a three to five-year period, after which your debts are considered paid, despite any alleged outstanding balances, and allow you to use court-determined disposable income to pay down debts.
Chapter 11 bankruptcy
A reorganization approach primarily for businesses or for individuals with large debts and assets who do not meet the strict asset and debt limitations of Chapter 13. This method offers far greater flexibility and a wide range options and can be extremely useful, even in lower debt cases, especially in real estate cases where a debtor is trying to find ways to catch up on past due payments, buy time to sell a piece of property that has equity, or deal with delinquent taxes, while keeping the business running.
Don’t hesitate to contact us by calling (202) 618-1873, if you fear foreclosure on your home, garnishment of your wages and repossession of your motor vehicle.