This firm is a debt relief agency. We help people obtain relief under the United States Bankruptcy Code. Also, on behalf of our clients, we seek to compromise IRS taxes and penalties under the Internal Revenue Code.
Established in 1993, the law office of W. Mack Rice, P.A. has a longstanding reputation for providing quality legal representation at an affordable price. We assist clients in resolving overwhelming debt and tax burdens.
Please contact our office for a free consultation.
This firm files Chapter 7 Bankruptcies in the Eastern District of North Carolina for individuals seeking to obtain a fresh start. Chapter 7 Bankruptcy is for individuals having difficulty paying unsecured debts such as credit cards, personal loans, medical bills, amounts remaining from repossessed automobiles, old utility bills, and other like-kind obligations.
This firm also represents individuals filing Chapter 13 Bankruptcies in the Eastern District of North Carolina. Chapter 13 Bankruptcy offers relief for the same types of debts as those in Chapter 7, and it also enables people to restructure secured debts such as automobile and furniture loans. Often times it is used to stop foreclosure of a home, and allow the debtor to cure the past-due payments and costs inside of the chapter 13 plan over a period of 36 to 60 months.
We review documents that are served upon homeowners in a foreclosure proceeding to determine their legal sufficiency. A mortgage company must meet all of the legal requirements necessary in order to commence and succeed in a foreclosure action. If there are any irregularities, then we provide a defense to the foreclosure.
In some cases, we assist homeowners in an attempt to obtain a mortgage modification. This usually must be done well in advance of the commencement of a foreclosure action.
The filing of a Chapter 13 Bankruptcy will stop a foreclosure action, as well as an automobile repossession and a lawsuit for the collection of a debt. A Chapter 13 Bankruptcy allows for payment of the past-due mortgage payments over a lengthy period of time, not to exceed 60 months.
IRS Tax Relief through Installment Agreement, Offer-in-Compromise, or Currently-Not-Collectible status.
Innocent Spouse Claims.
Relief from Wage Garnishment and Bank Account Levy.
Our firm represents taxpayers in the resolution of outstanding taxes, penalties and interest. We review the client's financial situation and make a determination as to the best manner in which to pay all or a portion of the liability to the IRS. An Installment Agreement is appropriate when the client has the financial ability to pay the tax, but needs time in which to do so. An Offer-in-Compromise is appropriate when the client does not have the financial ability to pay the tax, but can pay a portion or compromised amount. The ability to pay is often times the issue that has to be negotiated with the IRS. National and Local Standards established by the IRS for expenses are required to be used. Deviation from these expenses require very good reasoning and clear presentation. Many times resolution of the matter must take place in the Appeals Department.
How did your firm decide on the primary area of practice(s)?
The law office of W. Mack Rice is a Faith-Based law firm. We believe in serving others. In a society where mercy and forgiveness are rare, we are very pleased to practice in areas of law where Congress has enacted legislation to help people overcome overwhelming debt and tax burdens under the United States Bankruptcy Code and Internal Revenue Code. Provisions under these laws allow for the forgiveness of debt.
Debt relief is necessary for many people. We believe that obligations should be met when able. However, there are many tribulations in this world that change financial situations, such as separation and divorce , job loss, health issues, unexpected increase in expenses, and the list goes on.
Debt and tax forgiveness is just another way of asking for help. We believe that there is no shame in asking for help. We love what we do, and enjoy restoring peace of mind to families. The benefits of a fresh start are many.
BSBA - East Carolina University, Greenville, NC (1989)
JD - North Carolina Central University School of Law,
Durham, NC (1993)
North Carolina Bar Association - Bankruptcy & Real Property Sections
American Society of Tax Problem Solvers
Eastern Bankruptcy Institute
Private practice since 1993
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