December 16th, 2015
If you have recently or are currently in the process of filing for bankruptcy, be on alert. There has been a phone scam circulating where individuals pose as attorneys to get their intended victims to wire money immediately to satisfy debts. These scammers lift personal information from the paperwork used in bankruptcy filings.
Under no circumstances would a bankruptcy attorney or staff member telephone a client and ask for an immediate wire transfer to satisfy the debt. The National Association of Consumer Bankruptcy Attorneys also warned that bankruptcy attorneys and staff would never threaten arrest if a debt isn’t paid.
As of October 2015, bankruptcy filers in Vermont and Virginia have received and reported such calls. According to Vermont’s Attorney General, scammers use a type of software that can ‘spoof’ the Caller ID system to make the call look like it is coming from the phone line of the consumer’s bankruptcy attorney. These calls mostly arrive during late evening hours or non-business hours, making it purposefully difficult for intended victims to contact their attorney in an effort to verify the legitimacy of the call.
If you receive such a call, you are advised to hang up immediately and contact your bankruptcy attorney as soon as possible. Be sure that you do not give any personal or financial account information to this caller. If you have any questions about the above material, or wish to speak to an attorney, please contact HoganWillig at (716)636-7600. HoganWillig is located at 2410 North Forest Road in Amherst, New York 14068, with additional offices in Buffalo, Lancaster, and Lockport.
September 18th, 2012
The instant you realize that you are financially overextended the walls of your reality start closing in fast. The financial burdens begin to dramatically take effect and the weight of the debt and the pressures associated with creditor collection efforts start taking its toll on you psychologically, mentally and oftentimes physically. So whether you seek information out via the internet, talking to friends and family, or seeking legal advice…invariably you start exploring your options.
Usually no matter what age you are or your position in life, a portion of an individual’s debt structure includes student loans. Whether you are the student, perhaps a friend which is the cosigner of a student, or in all likelihood a parent of a student, student loans are customarily included within an individual’s debt portfolio.
When I meet potential clients to discuss their financial issues and explore bankruptcy relief as an option, before I begin to discuss the topic of student loans, the person I am meeting with will say, “Yes, I know student loans are not dischargeable in bankruptcy, BUT I have a private student loan!”. I nod in agreement because generally, unless there is a finding of undue hardship, federal student loans are not subject to a bankruptcy discharge. These loans are customarily recognized as Stafford, Perkins, FFEL and Plus loans. To contrast those with private student loans which are commonly issued by banks, credit unions, and schools.
However what most people do not know is that in 2005
January 12th, 2009
With the current bleak state of the economy, many taxpayers may find their ability to pay taxes has been negatively impacted by unemployment or corporate downsizing, loss on investments and reduced income. When in these circumstances, the reaction of many taxpayers is to ignore the problem and procrastinate in dealing with the IRS.
Not filing a tax return is NOT a good idea!