Looking for IRS Wage Garnishment Help? Follow These Three Tips
IRS wage garnishment can be one of the most financially debilitating occurrences for any taxpayer. Wage garnishment can happen for multiple reasons, from unpaid child support, to unpaid taxes. Regardless of why your money is being taken by the IRS, it’s important that you know the proper way to deal with this sort of stressful situation. For many, wage garnishment can be the difference between keeping their home or handing it over to a creditor. It’s important to stay on the ball when this happens, and keep in mind that consulting with IRS tax lawyers or other professionals may be a good idea when looking for IRS wage garnishment help. Remember these three tips when dealing with wage garnishment.
Keep in Touch with Creditors
While dodging calls might be your first instinct, it’s much better to actually answer the phone and communicate with those collecting money. Wage garnishment is always a last ditch effort to get the money owed, and are usually much more interested in setting up some kind of payment plan with you. Dodging creditor calls is what can lead to wage garnishment in the first place, so it’s important to communicate as there may be other options. Being up front and honest with creditors about your situation, your finances and your plans to pay is the best way to make things run smoothly and escape the situation paying less than you might have.
Many people looking for IRS wage garnishment help will quickly realize that an appeal is their best option. After the court has approved wage garnishment, filing an appeal can be a necessary next step. If you genuinely cannot afford this kind of garnishment, and it can be easily proven that the deduction in pay will affect your well being and stability (as in, you may lose your home or car), it is possible that your appeal will be approved and the garnishment will stop. The court does not want to put you in a worse financial position than you were before, and often appeals of this nature will get granted.
File for Bankruptcy
While many people do not want this, it is often the best way to deal with wage garnishment. Enlisting a local tax attorney in Denver and going forward with the bankruptcy process can be a good idea Ebony. Com states:
“The simplest way to stop garnishment of your wages is to file for bankruptcy, but that’s not always a feasible solution for most people. And obviously, bankruptcy isn’t a step to take lightly given the impact that it will have on your credit rating. But if you’re already swimming in past dues, and you have certain bills that you’ll never be able to pay off (like large medical bills), bankruptcy may be the right option.”
Wage garnishment can be a stressful situation; however you remain educated and enlist professional help it is possible to escape the debilitating and get back on the road towards financial health.
(Source: 4 Ways to Deal with Wage Garnishment)
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