One of the most frequent questions we get is, If I file for bankruptcy, what happens to my tax refund? After all, that tax refund is a great way to get through any yearly rough patches (or handle a bit of christmas over-spending)! It can be quite shocking to find out that when filing for bankruptcy, the trustees receive your full tax refund. Rather than panic, work with an attorney to help you plan ahead and lessen the shock of losing that tax refund. Requesting help from a budgeting ninja or a bankruptcy-savvy financial planner can also help you plan your yearly expenditures more easily, allowing for an almost painless bankruptcy filing.
Need to speak with someone about your situation? Need a referral to a bankruptcy-savvy financial planner? We can help! Call us today at 623 - 252 - 0742 or send us a note.
The word bankruptcy is enough to send shivers down any thirty-something’s spine. It’s not just the financial woes that come with such a decision, but the stigma that is associated with it. Thoughts of the whispering neighbors and in-laws working to piece together how you brought your family to its supposed financial ruin are enough to keep even the toughest stoic up at night. The lifestyle changes that sometimes come with filing for bankruptcy are often the red flag for friends and family members. Rather than respond to their prying with a look of shame or defeat, it may be easy to calm their concerns with unassuming replies of simplifying your family’s lifestyle or trying out a tighter budget in an effort to plan for future prosperity. Bankruptcy is merely a tool to help you get back on the right path. When it comes to your finances, there is no shame in admitting you need help and we are here to support you, should you need it.
Interested in learning more about how bankruptcy can assist you in getting a fresh financial start? Please call us at 623 - 252 - 0742 or visit our bankruptcy page.
Since we’re a family-oriented firm, we made sure to have a kids room in our new office so, if you need to bring your kiddos along, no fear! They can hang out here.
Paying taxes is stressful enough, adding bankruptcy into the mix may leave you with even more questions about your taxes due. It is common for clients considering bankruptcy to have concerns about being able to make their tax payments during or after filing. If this is something you are worried about and haven’t already filed, Chapter 13 bankruptcy may be an option worth exploring. Filing Chapter 13 allows you to pay your back taxes over time with a more affordable payment structure built into the plan while avoiding having to negotiate your tax debt with the IRS . Meeting with an experienced bankruptcy attorney who can review your unique case, is oftentimes the best first step.
Don’t have an attorney yet? Call us today for a free consultation - 623 - 252 - 0742 or send us a note.
A little tidbit about us...Laura (our firm administrator & Adam’s wife) has a pack of gold star stickers in her drawer that she hands out for a job well done. Best part? It started as a joke and is now firm culture!
At Hauf Law we believe in building a relationship with our clients - a relationship that lets us bring our clients through the fear and uncertainty of bankruptcy, into their financial recovery and later their personal vision of prosperity. This often clashes with the traditional view of what a law firm does, but it was important to offer our clients more. We look to offer our clients a solution that encompasses the growth and positive change that is necessary after bankruptcy. Offering LLC formation and legacy planning services allow us to support our clients through all phases of bankruptcy and beyond. Prosperity is one of those words that can be difficult to describe because it means something different for every person. Our goal is to help you to find whatever prosperity looks like for you - be it retiring on a hobby farm in the country, traveling the world or simply enjoying a yearly beach vacation.