Steps of Laws
In life bills tend to build up over time to certain levels.When this happens both you and the party who you own money to needs to sit down an figure out the income so you can pay off your debt in a mature matter that doesn’t drain all of your assets.This process is known as the six steps of means meaning how much money you make an when you pay it off.So with that said we are going to take some time to break these steps down so you fully understand what is going to happen.If you cant pay off your debt this is also used to build the case for bankruptcy.
To begin you are going to break down the income making sure you have a clear idea of what you are really bringing in.The second steps will be all expenses both allowed by the IRS an additional that can build up over time.
When it comes time to file for bankruptcy if it is your last option a third party will review the books an if an issues surface then a claim will be filed.So with all that said make the best of it guys.
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