Bankruptcy lawyer Raleigh today? Most of the threats of repossession (repo) of personal property are bluffs and illegal threats. In order to legally repossess (repo) a car or other property, a creditor cannot breach the peace. This means that if they really want to get the property you can force them to get a court order. You can call the police and have them ordered off your land and even put in jail if they fail to leave. If a creditor (or repo man) uses threats to attempt to get property, you should record the repo, get witnesses, and call the police. They have no legal right to get property unless they can do it without breaching the peace. Sneaking in and stealing the car in the middle of the night from where you parked it in the street is legal. Threatening you or forcing themselves inside a home or garage is not legal in a repo. NOTE: If your vehicle is in your driveway they can repossess it if you don’t catch them and tell them to stop. Once their front tires hit the public road, wave goodbye to your car! Of course, Cameron Law can get that repo’ed vehicle back for you!

Invest in Qualified Opportunity Funds: Taxpayers can defer paying capital gains by reinvesting their money into Qualified Opportunity Funds. The funds, which were created by the Tax Cuts and Jobs Act of 2017, are intended to spur economic development and job creation in distressed communities. If money is held in a Qualified Opportunity Fund for seven years, 15% of the capital gains tax on the investment is eliminated. “It’s a wonderful tax incentive,” Zollars says. However, like other provisions of the tax reform law, the funds and their tax-savings benefits are scheduled to end in 2026. That means to have your money held in a fund for seven years, you’ll need to make an investment before Dec. 31, 2019.

The idea behind Chapter 7 Bankruptcy, is that you turn over all your assets to the Court, which in turn pays your Creditors from that property. In most cases, there is no property to turn over after you are allowed to keep the minimum allowed to “start over” (your exemptions). In North Carolina, you are allowed to keep $3,500 equity in a car, $5,000 in personal property, $35,000 in a home. For a married couple, filing bankruptcy jointly, these exemptions are doubled. Property is valued at what it would have brought at auction or liquidation. Discover more info on bankruptcy lawyer Raleigh.

Child and Dependent Care Tax Credit: A tax credit is so much better than a tax deduction—it reduces your tax bill dollar for dollar. So missing one is even more painful than missing a deduction that simply reduces the amount of income that’s subject to tax. But it’s easy to overlook the child and dependent care credit if you pay your child care bills through a reimbursement account at work. The law allows you to run up to $5,000 of such expenses through a tax-favored reimbursement account at work. Up to $6,000 in care expenses can qualify for the credit, but the $5,000 from a tax favored account can’t be used. So if you run the maximum $5,000 through a plan at work but spend more for work-related child care, you can claim the credit on up to an extra $1,000. That would cut your tax bill by at least $200 using the minimum 20 percent of the expenses. The credit percentage goes up for lower income households.

We believe in excellency as both a virtue and a compulsion. We are workaholics, both passionate and personable. We believe success is measured by action, not wealth. We believe in doing the right thing for the right price. We are family, and will treat you like family, too. We are Cameron Bankruptcy Law. Sheree Cameron’s double undergraduate degree came from the University of Tennessee where she graduated “Summa Cum Laude”. Sheree received a scholarship for the UNC Chapel Hill School of Law, where she received her Doctorate in Law. She has helped people find relief from their debts as a Bankruptcy Lawyer for over 10 years, and carries an “A+” rating with the BBB® under “Cameron Bankruptcy Law”. Discover even more information at https://www.cameronbankruptcylaw.com/. Price Match Guarantee! We have bankruptcy payment plans!

Secured claims are handled in one of two ways in chapter 13: The first, which we call the ” catch-up and maintenance” method, is where your past due payments on secured debts are paid from your monthly bankruptcy plan payments, and payments that come due after filing bankruptcy are paid directly to the creditor (“outside the plan”) or to the trustee, who then pays the secured creditor (“inside the plan”). When the Chapter 13 has been terminated, you are still obligated to make any payments remaining due on the secured debts.