Accepted for Value Tax Scheme: Myth vs Reality

Quick Answer: Accepted for Value” tax avoidance strategies are not legally recognized and consistently result in jail time or massive IRS penalties for practitioners. High-profile cases include Wesley Snipes and promoters Samuel Davis and Shawn Rice, with the IRS officially classifying these methods as frivolous tax schemes.“Dear Steve,In looking for relief of the burdin of …

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Chase Summons: What It Means and What to Do

Quick Answer: A Chase summons requires responding to the court even after making payment arrangements with the law firm, and debtors may be legally required to provide requested financial documentation. Time-sensitive consultation with a bankruptcy or consumer attorney is essential to understand legal obligations and explore settlement or bankruptcy options before potential wage garnishment.“Dear Steve,Steve, …

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Junk Debt Buyers: Myth vs Reality

Quick Answer: Junk debt buyers like Ferrell & Seldin often purchase old debts for pennies on the dollar, but they still have legal rights to collect. The couple should respond to the summons and appear in court, as their limited income ($535/month combined) may qualify them for judgment-proof status protection.My husband and I have a …

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Capital One Lawsuit: What to Do When Sued

Quick Answer: When sued by Capital One, the defendant should respond to the summons within the required timeframe and consult a consumer debt defense attorney. The original $1,800 debt has grown to $4,400, and while Texas has a 3-year statute of limitations versus Capital One’s home state 2-year limit, the Texas SOL likely applies since …

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Capital One Lawsuit: What It Means and What to Do

Quick Answer: When facing a Capital One lawsuit, defendants have 30 days to respond and should contact a local attorney immediately for guidance. The case involves complex documentation issues from an auto loan where the borrower was incorrectly listed as primary instead of co-signer, leading to repossession and litigation.“Dear Steve,I have two issues really.First, Capital …

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Amex Court Summons: What It Means and What to Do

Quick Answer: An American Express court summons means they’re seeking a judgment to garnish wages or assets after failed debt negotiations. Nathan should either hire a consumer lawyer to defend against the lawsuit or attend court and potentially face wage garnishment if Amex wins the judgment.“Dear Steve,Help. My Wife and I just received a summons …

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