OFFER IN COMPROMISE

Posted by on Oct 16, 2012 in Consumer Debt, Debt Collections Defense, News | 0 comments An Offer in Compromise is where the IRS agrees to allow the taxpayer to pay less than the total amount of tax debt.  The IRS will agree to this, when it appears that the offer represents the most the IRS can expect to recover.  There are three main reasons that the IRS will approve an OIC.  First, Doubt as to Liability, where the taxpayer claims that they do not owe the amount the IRS...
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Ninth Circuit strikes down District Court’s Ruling on Fair Debt Collections Practices Act

Posted by on Aug 2, 2012 in Consumer Debt, Debt Collections Defense, News | 0 comments The Ninth Circuit Court of Appeals reversed a decision by Ninth Circuit District Court.  The case (entitled Evon v. Law Offices of Mickell) stemmed from the practice of a lawyer collecting on debt by sending letters to debtors in “care of” her employer.  The letter was opened and read by a number of individuals, including the legal department of the employer before reaching the debtor. ...
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Better Interest Rates May Not Be Helping All of America’s Middle Class

Posted by on Jun 12, 2012 in Bankruptcy, Consumer Debt, Debt Collections Defense, News | 0 comments If you have been watching the news lately, you have been bombarded with news stories about the low interest rates available to those looking to buy a house. It feels like interest rates are dropping each week and now would be the prime time for consumers looking to borrow money to do so. However, a surprising new report published by the Federal Reserve shows that these fabulous interest rates are...
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U.S. Families Lose Approximately 40% of their Net Worth During the Recession

Posted by on Jun 12, 2012 in Bankruptcy, Consumer Debt, Debt Collections Defense, News | 0 comments During the 2007-2009 recession, many companies implemented massive layoffs, small businesses closed, and families were forced to find ways to save their homes. The housing market was crashing and families sought help from loan modification companies, many of which turned out to be nothing more than shell companies looking to scam people out of thousands of dollars. Many families tried to short...
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Orange County Man Sentenced to Jail for Home Loan Modification Fraud

Posted by on Jun 8, 2012 in Business Transactions, Commercial Transactions, Consumer Debt, Debt Collections Defense, News | 0 comments This week, a Mission Viejo man named Andrew Michael Phalen has been sentenced to 1 year in jail for defrauding hundreds of homeowners nationwide. Mr. Phalen pleaded guilty last month to several conspiracy charges, including conspiracy to charge illegal upfront fees for loan modification services and conspiracy to to commit grand theft. Mr. Phalen and his four co-defendants were involved in a...
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Orange County Bankruptcies Appear to Decline, Despite California’s High Bankruptcy Rate

Posted by on Jun 5, 2012 in Bankruptcy, Consumer Debt, Debt Collections Defense, News | 0 comments If you have ever filed for bankruptcy in Orange County, Los Angeles County, or Riverside County, you are familiar with the United States Bankruptcy Court, Central District of California. After all, you had to file your petition there. If you are thinking about filing for bankruptcy, this is the court you will need to file it with. Recent statistics coming out of this court show that bankruptcy...
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