Owing more money than you can afford to pay is scary. Owing that money to the government can be even scarier. While you may know that an Offer in Compromise is the only way to settle with the IRS for less than what you owe, what you may not know is that there is tax debt settlement help. But when dealing with money, you need to be careful who you ask for assistance. This is especially true if the government is involved. Continue reading
Debt
How to Engage in Tax Settlement Strategies
You know what they say; there are two things that are inevitable in life: death and taxes. And if you’ve gotten behind on the latter, the IRS provides various kinds of tax settlement options for you to avoid the former for your finances. Tax settlement occurs when those behind on their taxes reach a deal with the IRS in which they decrease their debt, extend their payment period or work out a new payment plan. There are two main categories of tax settlement options available: those that reduce the amount you owe, and those that do not. Here, I’ll outline the basic kinds of settlement and the pros and cons of each. Continue reading
The 6 Tax Debt Solutions (and 1 Last Resort)
While debt can be daunting period, it can be even more dreadful when it’s the government you owe money. Whether the sum is large or small, you should not panic. There are a few tax debt solutions, at least one of which should work for your situation. Continue reading
How to earn lower interest rates on credit cards
Believe it or not, you must earn lower interest rates through responsible financial behavior. To earn lower rates, you first need to know what lower rates you deserve based on your creditworthiness and financial status. To improve your prospects, you might need to make some changes to your financial habits so that you can earn better rates. Finally, you need to know how to follow through so that you can take advantage of those lower rates. Continue reading
What is the statute of limitations on debt?
A statute of limitations may sound like a familiar concept, because it is traditionally associated with the legal system. In legal terms, a statute of limitations is “an enactment in a common law legal system that sets forth the maximum time after an event that legal proceedings based on that event may be initiated”1. In other words, it is a time frame in which legal action may be pursued. For this article, this same concept will be applied to your fiscal matters. To be specific, this article will address how the statue of limitations applies to debt. A statue of limitations on debt, means your debt has an “expiration date” of some sorts and when this date is reached, it may no longer be necessary for you to pay off this debt2. Continue reading
What is a summary judgment?
In legal terms, a summary judgment is a motion made before a trial begins to determine who is the winner of a lawsuit. In a typical trial, the jury is responsible for finding the facts of the case. However, when a person motions for summary judgment, he or she is saying that there are no important facts at issue and he or she deserves to win based on the law and the undisputed facts. Continue reading
A Debt Collection Lawsuit Can Protect your Rights
Sure you are tired of receiving harassing phone calls and threatening letters, but who are you to file a debt collection lawsuit? For one, you are a debtor with rights guaranteed by the Fair Debt Collection Practices Act (FDCPA). Continue reading
CARD Act Rate Hike Notice
CARD Act Provisions
The Credit Card Accountability, Responsibly and Disclosure Act (CARD Act) has many provisions that are designed to protect consumers using credit cards.
There are four provisions in which a credit card issuer may still raise your interest rates: Continue reading
Cautious approach to applying for new credit
Lenders want to see proof that you can handle credit before they extend new credit. The obvious question is, how do you get credit if you have no credit? Continue reading
What is a pay for deletion agreement?
Are you looking for a quick and easy option to clean up your credit report? Have you been lucky enough to snag a job in this economy? Have you, against all odds, run into some money and want to make a long term investment? If you answered yes to any of these questions and need a quick and efficient way to improve your credit a pay for delete agreement may be just the thing you have been looking for. Continue reading
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