Persons who file bankruptcy are basically saying they have incurred a considerable amount of debt that they intended to pay for, but in good faith, have not been able to pay. According to Census Bureau studies and other statistics over the past several years, there are an estimated 11 million illegal immigrants in the U.S. A good number of them are working and paying taxes. With over 790,000 bankruptcy cases were filed in 2016 alone, some cases are going to be associated with an illegal immigrant or other citizen status. Bankruptcy is a common solution to large debt problems. If you have not filed bankruptcy, you’re still likely to know or work with someone who has filed bankruptcy. Although bankruptcy is public record, many people have gone through the process without people in their inner-circles finding out. They simply do what they need to do, and get on with their lives.
The democracy of the United States is to protect the rights of all individuals, not just the majority of individuals. Therefore, bankruptcy does not discriminate against race, language, occupation or status of citizenship. There is nothing in the bankruptcy code that eliminates illegal immigrants from filing. Regardless of whether or not a person has legal or illegal immigrant status, anyone can look into the process of bankruptcy to eliminate debt.
If the illegal immigrant has come into the U.S. with a tourist visa, student visa or other type of visa, they may obtain a social security number that is still valid, even if they over-stay their visa. Many illegal immigrants are employed in some way and pay taxes; sales, property and employment. Temporary citizen status can quality for bankruptcy. So, even without a social security number, taxes can be paid through obtaining a tax identification number from the IRS. This number, a (ITIN) can be used in place of a social security number to prove identify in a bankruptcy petition.
Start an Honest Bankruptcy Process
Honesty is a two-way street. Before filing bankruptcy, be prepared to be very honest because you never want a trustee to suspect fraud. If the bankruptcy court suspects it, your case can be thrown out of court. If fraud is proven, there are serious penalties. First, shop around and chose a bankruptcy lawyer you can trust. Then, return the sentiment by providing truthful information to your attorney.
Many are often torn between various options like deciding whether filing for bankruptcy is better than seeking debt settlement. Others might wonder about the benefits of debt elimination as part of America Saves Week. It’s crucial to explore these options and understand their implications. For this reason, seeking insights from professionals on platforms like My Debt Advisors can be immensely beneficial.
Filing bankruptcy is intended to provide financial relief to those who are overwhelmed with debt, regardless of race, language, occupation or citizen status. If you need assistance with the bankruptcy process in Wisconsin, contact Debt Advisors for a free initial consultation. During this consultation, our attorneys will answer your questions and set your mind at ease.you can learn more about our local services by visiting our Oshkosh office page. Here, you’ll find additional information and resources tailored to your regional needs.