Having tax debt can be very stressful. You may be thinking about previous years that you have yet to pay taxes on, and it may seem like your debt just keeps going up. Our team at The Law Offices of Neil Crane can help you reduce the amount owed on your taxes. We are happy to meet with you to review your individual situation and then make suggestions on how to proceed from there. In the meantime, here are some steps that you can take to help decrease your debt. When you are ready, feel free to contact our West Haven, CT tax lawyer for further guidance at this time.
Unpaid Property Taxes
There are so many people out there who may run into serious financial trouble at some point in their lives. This may be due to various reasons, such as encountering medical issues or dealing with a job loss. It is not uncommon for homeowners to fall behind on their mortgage payments when they encounter financial hardships. If this is something you are going through right now, please reach out so we can offer support. You may have fallen behind on your property tax obligations, in addition to other types of taxes as well. Those who have found themselves in a situation like this should consider getting help from our West Haven tax attorney, who can give you information on potential solutions.
Chapter 13 Bankruptcy
Depending on your circumstances, it may be time to file for bankruptcy. Chapter 13 specifically allows you to set up a payment plan to get caught up on your debts. This repayment plan can provide the filer with a chance to get caught up on their debts, such as back property taxes and missed mortgage payments, while halting the high interest rates that delinquent debt can result in. The repayment plan under Chapter 13 tends to be around 3 to 5 years. Permitting that you stick to the approved repayment plan, your home is safeguarded from foreclosure or any other type of collection activities regarding property taxes. It is imperative to realize however, if you miss payments and then get behind on your payment plan, you could lose foreclosure protection. For insight as to whether bankruptcy is the right next step for you, contact our team as soon as you can.
Get Tax Debt Help
Dealing with tax-related debts can be overwhelming. You may be under pressure to address your debts but are not sure how to begin. It can seem daunting to try and handle this on your own. Our dedicated tax attorney is prepared to offer advice you can rely on. We understand that you may be plagued by the weight of your mounting debts, but please know there are professionals who can provide you with possible solutions. Contact The Law Offices of Neil Crane at your next convenience so we can reserve you a consultation appointment. We hope to hear from you today.
