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What is the most common type of lawyer?

What type of lawyer do I need?

  • What type of lawyer will I need to collect a personal debt? Is there a special name for this type of lawyer or attorney. I'm looking for a lawyer to help me collect a personal debt. I have sent certified letters to this individual demanding the money. I have promissory note that was notarized at the bank. Someone was telling me that I could get up to $3,000 a year in tax returns for an unpaid loan if I can show that I did everything in my power to collect it (going to court). I hope this is true.

  • Answer:

    you can charge off the debt once you determine it is not collectible. You do not have to sue but suing and still not collecting is absolute proof of loss. It is a capital loss of set by gains and then deductible up to $3000 per year. Be sure to send them a 1099C if you charge of the loan then they have to Poa income taxes on the debt. Hopefully that 1099C does not get lost in mail it would be terrible if they got a penalty and interest for failing to report the debt cancellation. 1096 to IRS

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It depends on the amount of the debt. If it is under $5,000 you can just file a claim in small claims court in your area and get a judgement for the amount of the loan and interest. No, you cannot claim a personal loan on your taxes, if that were possible every parent with a kid in college would be writing off the miscellaneous costs associated with school.

No lawyer can force a collection. You can not take their tax return under any circumstances. Winning a judgment is not hard. Collecting is. What you need is a collection agency.

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