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About Regan Shinski
Expertise
I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit credit reporting.

Experience
Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and collection agencies and won cash settlements for their false reporting on my credit reports. Since then, I have completely recovered and have nearly $100,000 in revolving credit lines and perfect credit. I have owned a credit repair company for the past five years and have an additional three years of specific work in the collections and debt management industry. I am fully versed in the Fair Debt Collection Practices Acts (FDCPA), Fair Credit Reporting Act (FCRA), and have used them successfully in collection settlements and lawsuits for myself and others. I am also familiar with and abide by the Credit Repair Organizations Act (CROA). I have deleted or helped delete literally hundreds and hundreds of derogatory items from consumers' credit reports and helped negotiate many settlements with collection agencies and creditors. I have also advised people on bankruptcy at any stage. In the current credit market, I have successfully advised numerous people on how to obtain credit and how to negotiate for better terms.

Education/Credentials
BA University of Minnesota

You are here: Experts > Business > Corporate Law > Collections Law > i owe to ssi & are buying land

Collections Law - i owe to ssi & are buying land

Expert: Regan Shinski - 10/27/2009

Question
hi and how are you? in 2001 i was on ssi disability when i was 18 and after awhile i wrote them a crazy letter saying i don't want their money anymore. a few months later they sent me something saying they over paid me and i need to pay them back. i owe them 9,000 they say. i called irs and they say im at zero and don't see ssi but if i file for tax return i only get state back and not federal. im buying some land here and will have to fill a w9 out. can anything happened to my land. if so can i by pass by puting the land in my construction co name??? thanks for your time

Answer
Hello Mike:

I'm a little confused about the status of your situation - judgement/liens already in place? - so let me just answer in general terms. If you owe the government money they CAN place a lien on any property you own. If not immediately, then through future actions. In some cases they can force the sale of the property but that is used more in estate type and larger cases.

You can place the land in your business name but it is also not a guarantee. The IRS has been cracking down on "businesses" that don't keep separate records or adequately fund and separate business from officer/personal functions. You are also at higher risk for audit.

If you or you and your spouse are the sole officers you REALLY have to keep the business run like a business. No different than any large corporation from a record-keeping standpoint. If there is any hint of cross over, co-mingling of funds or things like that, your corporate shell can be broken and a lien placed.

BTW, if you are financing the land it is possible you may not be able to get a loan anyway depending on how far the government has already pursued collections on you.

Good luck.

Regan

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