Posted on Wednesday, March 21st, 2012 at 8:46 pm
A Houston-based company, TaxMasters, has now filed for Chapter 11 bankruptcy protection over the weekend.
The firm has recently been accused of deceptive practices by the attorneys general of Minnesota and Texas. The complaint filed by the Texas Attorney General came about after multiple consumers made allegations against the firm and the civil trial will be beginning shortly.
These charges claim that the firm failed to disclose its policy on refunds and mislead customers on what services would be done. The complaint from the Minnesota Attorney General was settled in 2010 and stated that the firm made customers pay advanced fees and stated that they could reduce tax bills by 90 percent and in some cases, they were not reduced at all. The firm has stated that it owes between $1 million and $10 million in debt.
If you or a loved one has been struggling financially and are considering bankruptcy, contact the Joliet bankruptcy lawyers of the Law Office of Stuart B. Handelman by calling 815-722-2201.