The IRS is not a creditor. We do not protect people from IRS liens or seizure so do not call us with tax issues. Get Get a tax attorney or hire one of the firms out there who negotiate with the IRS on your behalf to lower your tax bill. Creditors are banks, mortgage companies or anyone who has loaned you money that you are not paying back. When you can't pay your debt and you do not negotiate to manage your debt, your creditor who has extended you the funds to pay for what you bought will sue you and get a judgment from the court.

Once the creditor has the judgment, if you have assets they can attack, they go back to the court to get a charging order. This charging order allows them to attach whatever assets of yours they can find - your home, your investment real estate, your accounts. etc.

They are also aggressive about garnishing wages and all states except Pennsylvania, North  and South Carolina, Florida and Texas allow generous percentages of attachment of your W2 wages.

Asset protection against charging orders ideally needs to be set up and in place BEFORE you default on any of your debt. If you try to protect assets after you default on your debt, you run the risk of being charged with fraudulent conveyance.

What Is A Fraudulent Transfer of Assets?

A fraudulent transfer is transferring or protecting assets with the intention of ‘hindering delaying or defrauding’ your creditors. If a transfer is deemed fraudulent the court will unwind it and apply civil and criminal penalties.

Asset protection plans that are structured and implemented years in advance of need will withstand any creditor attack.

What are 'Badges of Fraud'?

Badges of fraud refer to how you transfer assets once you default on your debt. Fraudulent transfers include:

• transfer to a spouse or family member.

• transfer of assets after a lawsuit is filed or threatened.

• transfer of substantially all the person's assets.

• removing or hiding physical assets like vehicles.

• trying to conceal that a transfer was made.

• value of the consideration received was more than the value of the asset transferred.

• becoming insolvent or became insolvent shortly after the transfer was made (i.e. made all your cash disappear).

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2009 Tax Info