What Can You Do About Back Taxes And Student Loan Debt?
There is no question that back taxes and student loan debt are two of the hardest forms of debt to discharge in a bankruptcy filing. Even if you cannot get rid of these debts, however, that does not mean there are no debt relief options available.
At the Law Office of Rich & Rich in Memphis, attorneys Charles Rich and Ryan Rich use their more than 40 years of combined experience to help people struggling to pay back taxes and student loans find relief. Even if bankruptcy is not an option, we can find solutions that will still help you get your life back on track.
Proven Problem Solvers Working For You
To successfully discharge student loans in bankruptcy, you will have to prove that the payments are causing you undue hardship. It is equally difficult — if not impossible — to discharge many federal income and payroll taxes. In addition, the IRS can garnish your wages to collect on back taxes.
A Chapter 13 filing can help you catch up on your late payments. You may be able to go three to five years without a student loan payment. If you are struggling with medical bills and credit card debt, a Chapter 7 filing could erase those debts, allowing you to focus on your student loans or back taxes.
In those cases where bankruptcy may not be the right option, we have worked with creditors to set up payment plans that give relief to people who are working hard to meet their obligations, but are having a tough time. Our focus will always be on finding a solution that works for you.
Schedule A Free Consultation Today
This is one of the most complex areas of bankruptcy law, requiring a lawyer who has the right experience and knowledge of the law. To learn how we can help, we invite you to schedule a free, confidential consultation at our office in Memphis, Tennessee, today by sending us an email or calling 901-201-6163 or 866-935-6740.