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How to Get Legal Debt Relief with Proven Debt Solutions, Seattle-Tacoma Bankruptcy Attorney
Huge numbers of business owners, homeowners and other consumers are struggling with back-breaking debt, foreclosures and federal tax disputes, but Tacoma bankruptcy lawyer David Yando provides best practices proven debt solutions in Seattle and Tacoma.
March 02, 2011 /Banking and Financial PR News/ -- Huge numbers of business owners, homeowners and other consumers are struggling with back-breaking debt, foreclosures and federal tax disputes, but Tacoma bankruptcy lawyer David Yando provides best practices proven debt solutions in Seattle and Tacoma.
With vast numbers of businesses and people trying to overcome mountains of debt - coping with creditors, possible foreclosure and federal tax disputes - veteran Tacoma bankruptcy attorney Dave Yando provides hope with best practices and proven debt solutions in Seattle and Tacoma.
"More than a third of Seattle-Tacoma homeowners owe more on their homes than their property is worth, according to The Seattle Times, which means the rate of foreclosures and bankruptcies will continue to rise," according to Seattle-Tacoma bankruptcy lawyer Dave Yando.
Additionally, RealtyTrac predicts the number of bank repossessions, default notices and auctions will be worse in 2011 than in last year. In 2010, in excess of 1 million homes fell into foreclosure, and nearly 2 million other homes were considered in default, according to RealtyTrac.
But Mr. Yando's Web site provides tips on foreclosure relief and tells homeowners how it's possible to file a Tacoma bankruptcy or Seattle bankruptcy and keep their home.
"There were 26,875 bankruptcy cases filed in the Western District of Washington in 2010," observes Mr. Yando. "...honest people do make regrettable decisions, get sick, lose jobs, get divorced and have other bad things happen to them." He says Chapter 7 provides relief.
"Homeowners who desperately need the debt protections afforded by Chapter 7, more often than not, delay their bankruptcy filing - waiting for another solution that never appears as their situation continues to deteriorate," says Mr. Yando, the Seattle-Tacoma foreclosure defense attorney.
"They make the common mistakes of refinancing their homes, tapping into their retirement funds, or selling their homes at a greatly reduced price," adds the bankruptcy lawyer. "These are not only unnecessary measures, but often foolish and end up wasting a person or couple's nest egg."
Why?
"The fact of the matter is, in most bankruptcy cases, the bankruptcy trustee will not liquidate your home to pay off creditor claims," says Mr. Yando. "In fact, under current bankruptcy law, most clients find that even if they have significant equity in their home, it is fully protected from liquidation by federal and Washington exemption laws."
Mr. Yando offers more hope.
"Your home equity, under federal exemptions is exempt up to $21,625, as long as your home is used as your primary residence," he explains.
"If you represent half of a married couple, this amount is doubled, as both of you are allowed to claim this exemption in residential real estate," says Mr. Yando. "If you have more equity than that, you can utilize your Washington state homestead exemption up to $125,000.00 in equity."
If you have a federal-tax problem, you are not alone, he says. Levies and liens against taxpayers have dramatically increased - 1.1 million taxpayers last year, according to the IRS - up from 168,000 in 1999.
However, there are four legal options in federal tax disputes according to Mr. Yando, who has a Masters degree in tax law (LL.M) from the University of Washington in Seattle in addition to his Juris Doctor of Law from University of Puget Sound in Tacoma.
"A taxpayer engaged in a federal tax dispute has the opportunity to select the forum that will decide the case among four separate courts," says Mr. Yando. "...the choice may be subject to certain legal and practical restrictions.
"If a taxpayer otherwise qualifies for bankruptcy, there may be significant advantages to having the tax issue decided in Bankruptcy Court, as the Bankruptcy Court tends to be more debtor/taxpayer friendly," adds Mr. Yando.
Mr. Yando has 30 years experience in Seattle and Tacoma: Foreclosure defense, bankruptcy, real estate and taxation law. He is known for providing the missing puzzle-solution to his clients' debt puzzle.
Media Contact:
David Yando
(253) 284-9909
http://www.yandolaw.com
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