Finance, Loan, Debt and Credit.

March 31, 2013

Irs Tax Debt Settlement Help – When You Need Expert Tax Debt Help

Filed under: Tax — Tags: , , , , , , — admin @ 12:47 pm

With the recent downturn in the economy, Americans find themselves not only facing unsecured credit card debt problems, and difficulties handling their home and vehicle loans, but oftentimes unable to pay their IRS taxes in a timely manner. There is IRS tax debt help available to anyone who finds they owe money for back income taxes to the Internal Revenue Service. The federal government offers many tax relief programs that are designed to help the taxpayer repay the delinquent IRS tax debt due. But if you are a struggling taxpayer with a large IRS tax debt, then repaying the full IRS back tax debt may not be an option for you and your family. In fact, it may seem like an insurmountable financial hurdle you will never be able to overcome. That is why there is an IRS tax relief program called Offer in Compromise.Federal law does grant the IRS the power to agree to a settlement of your IRS tax debt for less than the actual amount you owe. Sometimes, the IRS can accept significantly less to end your IRS tax debt. However, the process of actually getting the IRS to agree to a tax settlement is not simple or straightforward. You may need expert IRS tax debt settlement help to insure that you have filed everything correctly and that you give yourself the very best chance to be approved for a reduced tax debt settlement offer. The IRS does not widely promote this program and it is not a full amnesty program. It is however, a way to significantly reduce your IRS tax debt, and have the “compromised amount” be considered payment in full for the IRS back tax liability. It is as close as you can get to a “fresh start” with the IRS!Knowing when it is prudent to seek professional IRS tax debt settlement help can be crucial to your success. The paperwork for the IRS tax debt settlement program is complicated. You are required to prove that you will never be able to pay back the entire tax debt, or that paying off your tax debt will cause “undue hardship”. You must commit to a full financial disclosure. The IRS looks at your income and all your “lifestyle expenses”. They even require an inventory of all your accounts, possessions, and the equity in your home. Getting approved can be a lengthy process and there are no guarantees you will quality for this form of IRS tax relief. The process can take up to a year. Having professional tax debt help can “make the difference” between success and failure. You simply cannot be expected to know all the complexities of the IRS settlement process to insure your tax debt settlement offer is accepted. But IRS tax relief professionals can give you this “much needed edge”.There are a number of companies that are able to provide delinquent taxpayers with the IRS tax debt settlement help they need. Some of these firms are actually tax law firms, while some are companies with tax specialists that assist with IRS back taxes. These firms are typically staffed with tax attorneys, enrolled agents, CPAs, and even previous IRS employees who have the “inside track” on how to successfully secure a tax debt settlement offer from the IRS. These companies will offer a free tax analysis which allows you to have your tax matter reviewed at no initial cost. These tax firms are also aware of all other IRS tax relief programs available should it not appear that you are likely to quality for tax debt settlement through the Offer in Compromise program. It is always advisable to check the record of any professional tax debt help firm or company you intend to contract with to handle your IRS tax debt problem. It goes without saying that successful resolution of your IRS tax debt is important!

Credit Card Debt Settlement Plan – Planning Your Financial Future The Right Way

Filed under: Credit — Tags: , , , , , , , , , , — admin @ 12:46 am

Debt is something that you can learn from if you work with the right people. Once you are in over your head with bills, it’s time to ask for help. Don’t be too proud to turn to credit card debt settlement groups: These people could really help you.

By working out a payment arrangement with a card company, you can figure out not only how to pay off what you owe but how to ensure this never happens again. A credit card debt settlement plan is one that will allow you to plan your financial future the right way. The following are just some of the many things to expect from such a plan or such a group’s services.

Hector Milla Editor of the “Credit Card Debt Free” website — — pointed out;

Piece Together the Situation

“…The only way to make a plan is to bring all of your financial groups to a settlement company or debt counselor. Here, this expert can sift through all of your bills and explain what you owe to which company and what the interest rates are like. After you know the extent of your debt, it’s time to figure out your income and expenses so that you can figure out a budget. You can’t promise to pay more than you have. This is where a financial expert comes into play. He or she can explain just how much money you have for your bills so that you can work out a plan with creditors…”

Education Regarding Saving and Budgeting

The best thing about working with a settlement group and coming up with a plan is that it’s as much about education as it is about paying off these bills. After sifting through all of your bills and financial documents, you will have a plan that can help protect you in the future. Learning how to spend only what you have means that you will not add to the pile of debt. Thus, you can plan as much for the short-term future as for the long-term.

“…Investing in a credit card debt settlement plan is important if you want to learn from your mistakes. This is a chance to really plan for your financial future in a smart and responsible manner. Talk to settlement groups and financial experts today so that you can figure out exactly what you owe and can make a plan. Soon, you will learn the ins and outs of budget making and will learn how to keep your life debt free!…” added H. Milla.

Further information about trusted and reputable companies for credit card debt settlement by visiting;

March 30, 2013

Secured Debt Consolidation Loan: Release Your Multiple Debts Burden

Filed under: Loan — Tags: , , , , , , , , , , — admin @ 12:47 pm

It often happens that without bothering or without proper financial planning your credit card bills of store card bills keeps on ballooning and the day comes when you find yourself not in a position to pay the interest. In such situations debt consolidation loans help you out to get rid of your multiple debts by combining all your multiple debts into one single debt with single monthly payment at low rates of interest. Consolidation loans are of two types secured and unsecured loan.

Secured debt consolidation loan requires property to be placed as security on loan amount taken. The borrower has to place collateral to the lender. The rates for such loan varies from 7.9% APR variable to 19.9% APR with repayment option extending from 5 to 25 years. All loans are subject to status in U.K.

Features of secured debt consolidation loan:

• Loan requires collateral

• The loan amount depends upon the equity in your collateral

• Loans are available at low rates of interest

Delay in repayment will put your property in danger. Before going for the loan, check properly whether the companies from which you are taking the loan amount are authorized. The authorization can be checked by visiting the FSA (Shakespeare finance limited) website or by contacting the FSA on 0845 606 1234.

There are many lenders who offer the loan amount in different rates cheaper than market rates, the borrower by having a search of these lenders can avail the loan amount much cheaper than its availability. You can search for different offers and can fix up a deal which suits you best.

Secured debt consolidations loans are available online. The availability of these loans is much faster. Just fill your personal details along with collateral; the loan amount is in your account. By glancing through different offers you can fix up best deal with lenders.

Using an 80 20 Mortgage to Avoid Mortgage Insurance

Filed under: Mortgage — Tags: , , , , , — admin @ 12:47 am

An 80 20 mortgage is also called a zero down loan or no money down loan. It is actually two loans, a regular home mortgage which constitutes 80% of the price of the home and a second mortgage or home equity loan that consists of 20% of the cost of the house. The idea behind this type of loan is avoiding mortgage insurance (PMI) by using the home equity loan as the down payment.Just about all mortgages require some form of mortgage insurance if you are unable to make a down payment of at least 20 percent. By obtaining a second mortgage or home equity loan for 20 percent of the homes cost you can circumnavigate this requirement by using that second loan as the down payment.There are variations of this type of mortgage such as an 80-15-5 loan. This means that the borrower got a main mortgage of 80 percent of a home’s purchase price, a piggyback loan for 15 percent, and made a 5-percent down payment. This can be a good option if you have some money for a down payment but not enough to cover the entire 20%.The second mortgage can either be a fixed second mortgage or it can be a line of credit.  If it is a fixed second mortgage then the interest rate is normally fixed for the entire length of the mortgage.  Most fixed second mortgages are a 30 due in 15 which means that the second mortgage is amortized over 30 years, but is due in 15 years. The benefit of going with the line of credit as the second mortgage is that the interest rate is normally much lower than the fixed second mortgages rate. They can also be an interest only loan which could save you hundreds of dollars in mortgage payments every month.The 80 percent first mortgage can be a fixed-rate (15-year or 30-year), adjustable-rate (usually 5/1, 7/1 or 10/1fixed period ARM) or interest-only loan.  Typically, the interest rate on the second mortgage loan is higher than the interest rate of the first loan.  But because the borrower doesn’t have to pay mortgage insurance, the overall cost is less than a traditional mortgage even with the higher mortgage interest rate on the second loan.Plenty of mortgage programs allow borrowers to buy houses with little or no money down, but they usually require private mortgage insurance, or PMI. Getting an 80 20 mortgage can be a good way to avoid the extra cost that PMI will add to your monthly payments.

March 29, 2013

Student Finance – Student Loan Consolidation Tips

Filed under: Loan — Tags: , , , , — admin @ 12:47 pm

An education doesn’t come cheap today. You likely have a heap of student loans, that have built up over the years. Now, you may just be wondering how you will cope. Student loan consolidation programs are one way to cut out the need for headaches. Join me, as we take a look at some useful tips, that you can use right now, to find student loan consolidation programs, that meet your needs.
Looking at the data, we find that most students going through all learning will end up in tens of thousands of debt by time they can even start looking for a job that needs those skills.
The problem is not so much the loans. But, the high levels of interest. Even though students get some of the greatest rates, the student loans can add up. Wouldn’t it be nice to get better rates?
Getting student loan consolidation is a solution. And how it works is simple, and can make sense. Lenders like to loan out large amounts. It means they need less marketing, and less administration. If a person gets a $20,000 loan, it is easier and cheaper for them than 20 – $1,000 loans. This means you get a better rate, and your repayments could be consolidated to one loan, at a cheaper rate.
There are bad points to getting student loan consolidation programs to consolidate your student loans. For example, a student loan, because it is bigger than those small student loans, generally will need to be repaid over several years, if not even a decade or more.
A big benefit of student loan consolidation is that it is easier to manage. Student loans that come at various times in the month can really cause havoc on your finances. Having a repayment date for one loan makes life easier.
There are drawbacks to the benefits of easier management of loans by consolidating a loan. If previously, you found it easier to wiggle through all those student loans, you may now have a problem with paying back one big repayment.
To be able to get student loan consolidation, you will need to have loans that equal more than $10,000. This makes it not available to everyone, especially if you have only recently started your education.
A tip which may help you when you are looking to consolidate your student loans, is that some of the consolidation programs will try to attract you to the program with incentives. These incentives could be a lower initial rate, and this could work out worse off than finding a low rate in the beginning, that runs throughout the term of the loan.
The first thing you want to make sure you do is to do some research before choosing one particular student loan consolidation program. Online this research can be much easier, and finding online student loan consolidation programs is a popular route to getting the best deals. Make sure you do some research, as there are many different packages, even out of student consolidation loans that can give you great rates.

Getting An Extension On Corporate Tax Returns

Filed under: Tax — Tags: , , , — admin @ 12:47 am

The one thing that unites everyone in the United States is tax. This is simply because we all have to pay! Most people focus on April as the key time for tax filings, but corporations small and large don’t have that much time. Instead, they must file in March each year or seek an extension. When you think of corporations, entities like Google, IBM and Toyota come to mind. While these entities can get extensions, in this article we are more interested in the small business corporations. These are less likely to have an active CPA overseeing them and thus tax issues can be a bigger problem. Fortunately, filing for an extension is very simple these days.The IRS created a uniform business extension filing process in 2006. Before that year, it was a smorgasborg of forms and substantiations. Now one needs to simply file form 7004 to receive an automatic six month extension to file the corporate tax return. This effectively means the return is not due until September each year, which gives you just enough time to enjoy summer. There is, however, a bit of confusion regarding exactly what filing a form 7004 request will do for you. The form is an extension to file the corporate tax return. It is not an extension to pay the taxes the corporate entity owes the federal government. If you do not pay the taxes due at the March deadline, the business will have to pay penalties and interest on any taxes due when the return is filed in September. What if September rolls around and the business isn’t ready to file. Can it get a second extension? Yes and no. There is no automatic extension. Instead, the IRS wants to see a good reason. If you provide one, the second extension might be granted but for a relatively short period. Even so, penalties and interest will be accumulating on the taxes due.

March 28, 2013

Need A Bad Credit Home Loan Refinance?

Filed under: Loan — Tags: , , , , , , , — admin @ 12:47 pm

As most people know, the best time to refinance any mortgage is when interest rates are at their lowest. If you already have a good credit score then you’ll have no problem refinancing to save yourself some money, but what about those looking for a bad credit home loan refinance? Will you still be able to refinance your mortgage even if you have bad credit? Thankfully you can still refinance to take advantage of low interest rates, even if you have bad credit, though you may have to spend more time searching for a lender to work with you.
You might be wondering why these mortgage companies are willing to work with you when you have bad credit. It’s true that bad credit scores cause the lender to take on more risk when offering you a home loan, but just because you have bad credit it’s not a guarantee that you’ll default on any new loans. Lenders understand that bad credit can come from many sources, some unavoidable and that bad credit borrowers are often willing to work much harder than good credit borrowers, simply because they are trying to rebuild their credit.
Because the bad credit home loan refinance is more risky the lenders compensate for this by charging higher interest rates, fees and points. This means you’ll want to be more diligent in researching mortgage lenders when trying to refinance a bad credit mortgage. You’ll want to take the time to get quotes from several lenders so you can compare rates and get the best option for your situation.
Refinancing your mortgage is nothing more than replacing your old home loan with a new home loan, usually with a lower interest rate and/or better terms. The process is almost identical to applying for a new home loan. You’ll need to consider closing costs and points as well as other miscellaneous fees when refinancing and this is just one more reason to get quotes from several lenders before agreeing to a refinanced home loan. You’ll see from the quotes that interest rates and terms can vary widely from lender to lender.
Any time you’re able to lower your monthly payment and your interest rate it’s worth looking into refinancing your mortgage. Depending on the size of the mortgage it’s not unusual to save hundreds of dollars a month by refinancing. Why not take a few hours to look into the possibilities available to you from refinancing. It could be the most valuable few hours you’ve spent this year.
Of course, any time you’re looking for a bad credit home loan refinance you’ll want to exercise caution. The lenders know that your options are limited when applying for a bad credit refinance and some will try to take advantage of that fact. Never let them rush you and never appear desperate, otherwise you could end up refinancing under terms that are not the best for you. While you should expect to pay a higher interest rate when doing a bad credit refinancing it doesn’t mean you need to be taken advantage of. Take your time and read all of the terms carefully before signing anything.

Debt Consolidation Quote – for Tension Free Life

Debt consolidation providers help people to payback loans or debts effectively and comparatively faster than any other loan services. You can calculate your amount with the help of debt consolidation loan calculator, that is easily available online or the companies you will approach can also do it for you. They provide low interest debt consolidation loans to help out people who really cannot meet their loan installments deadlines. They also provide proper guidance and counsel as to how to mange their finances effectively through their debt consolidation quote. Loan repayments have never been easier as these services are also offered for free by many loan providers themselves.

However when deciding to avail the services of a debt consolidation provider to get a debt consolidation quote for debt consolidation, few things must be borne in mind. Like the correct choice of the service provider, whether free or paid debt consolidation, looking out for hidden costs or infringements etc. getting into a debt cannot be avoided especially when the urgent need arises. Not many get loans to spend lavishly or for unwanted things. Loans and debts are asked for only when major need arises.

Debt consolidation quotes can be of great help especially when the payer is stuck with his repayment of loan installments. Debt consolidation loan calculator calculates your loan installment to be paid and allows you to choose a loan option which might prove beneficial. Making use of these debt consolidation loans one can even pay back the loans in one single installment.

So do not hesitate contact your loan provider for a debt consolidation quote? Many loan providers offer free debt consolidation services by offering free advice and counseling for its customers, who can make use of the debt consolidation quotes provided to help them repay loans. Online help is also provided and there are many companies offering these services for customers. Thus choosing the right debt consolidation client is imperative.

Make use of these services and relieve yourself from unnecessary financial burdens that might even lead you to bankruptcy. It is also a best deal to go through the different debt consolidation quotes and after careful scrutiny decide which one might suit you. Decide quickly and look for hidden interests or extra fee structure by going through the rules and regulations carefully. Negotiate the debt amount and try to get the lowest interest rate and fix a time period within which you will repay the loan. Act immediately to get the best possible financial help to quickly relieve yourself of the frustrating financial burdens.

March 27, 2013

How To Settle Your Tax Debt By Negotiating A Payment Plan With The Irs: What You Need To Know If You Can’T Afford To Pay Your Tax Bill

Filed under: Tax — Tags: , , , , , , , , , , , — admin @ 12:47 pm

Qualify for an IRS Installment Agreement and Save Money by Negotiating the Lowest Possible Monthly Payments

IRS Announces Unprecedented Opportunity for Recession-Burdened Americans to Settle Outstanding Tax Debts

Struggling taxpayers may be eligible for tax breaks as the IRS eases enforcement and collection efforts to help Americans in financial distress. Because of the extraordinary challenges of today’s economy, the IRS is pledging to be more forgiving of Americans who have fallen behind on their taxes due to unusual financial hardship.

And one way you can settle your back taxes is by negotiating an Installment Agreement with the government that that allows you to pay liabilities over time.

If you cannot afford to make monthly payments and don’t qualify for another type of tax relief, such as an offer in compromise, there are other options including negotiating that your account be placed in a \”currently not collectible\” status so that you will not be required to make payments and the IRS will not pursue collection action.

What is an IRS Installment Agreement?

An Installment Agreement is a payment arrangement whereby the government allows a taxpayer to pay liabilities over time. Once a payment plan is established, the IRS will not take enforced collection action, including the levy of bank accounts or wages, as long as the taxpayer remains current with all filing and payment obligations. However, interest and penalties would continue to accrue until the outstanding balance is satisfied. Additionally, a tax lien may be filed as part of the terms of the installment payment agreement, depending on the amount of the total liability.

How to Negotiate an IRS Installment Agreement and Set Up a Payment Plan for Your Tax Debt

The IRS encourages taxpayers to pay what they owe as quickly as possible. For those individuals or businesses not able to resolve a tax debt immediately, an installment agreement can be a reasonable payment option. Installment agreements allow for the full payment of the tax debt in smaller, more manageable amounts.

In most cases, the IRS will accept some type of payment arrangement for past due taxes. In order to qualify for a payment plan with the IRS you must meet the following rules and provide the IRS with this information:

*  You must have filed all tax returns (It\’s OK to owe money but you must file).

* You will need to disclose all assets owned including all cash and bank accounts.

* You must not have adequate cash available in a checking, savings, money market, or brokerage account to pay the IRS.

* You must not have the capacity to borrow the amount owed to the IRS from other sources (i.e., a second mortgage on your home).

* You must not have adequate equity in a retirement account from which you can borrow or liquidate; for example, IRA\’s or 401K\’s.

The total dollar amount you owe usually dictates with whom the negotiations will be handled.

* Typically, IRS Revenue Officers are not involved in cases where the amounts owed are less than $25,000.

* The IRS will ask you to complete a personal financial statement and if a business is involved, you will also need a business financial statement.

* The IRS has determined allowable monthly expenses for individuals, which will be matched against your actual monthly expenses.

* The difference between your monthly income and your allowable monthly expenses will be the amount that the IRS will require you to pay on a monthly basis.

These monthly payments will continue until your outstanding tax liabilities are paid in full.

What the IRS May Not Tell You About Payment Plans

It is important to note that the IRS continues to add penalties and interest while you are making monthly payments. This may cause you to be paying what you consider a large monthly payment to the IRS and your outstanding balance may in fact be increasing due to additional penalties and interest.

The IRS may not explain this to you! So be careful!

Additionally, for taxpayers that enter into an installment agreement, the IRS may require a signed waiver to extend the time IRS can collect. While it is always in the best interest of the IRS to get a signed waiver, it may not be in the taxpayer\’s best interest. If you are asked to sign a waiver, protect your rights, seek the advice of a tax resolution expert first.

The IRS in most cases, to protect their interest, will file a Notice of Federal Tax Lien, with the County Recorder’s office in the county you reside.  This will inevitably be reflected on your credit report decimating your credit (FICO) score.  In addition a recorded Federal Tax Lien means the IRS has a monetary interest (claim) against all real and personal property owned (at time of filing) and any and all real or personal property acquired in the future while the lien is in effect. Generally, the lien is effective throughout the 10 year Collection Statute of Limitations.

The Benefits of Hiring Professional Tax Representation to Negotiate your IRS Payment Plan

Whether the IRS demands full payment up-front or a payment plan that is substantially higher than what you can afford to pay, a professional tax resolution specialist can help you negotiate an arrangement for the lowest possible monthly payment and also provide you with various options for making those payments.

Additionally, if you owe more than $10,000 to the IRS, you will be required to provide full financial disclosure and you will need to hire specialized tax representation to negotiate on your behalf with the IRS.

IRS Pledges Greater Flexibility to Help Distressed Taxpayers

Although the IRS is pledging to be kinder and gentler to taxpayers in these challenging times, you will still need to meet your installment payment requirements. However, the IRS has announced that they will try to be more flexible with taxpayers who miss an installment payment.

“We need to ensure that we balance our responsibility to enforce the law with the economic realities facing many American citizens today,” IRS Commissioner Douglas Shulman said. “We want to go the extra mile to help taxpayers, especially those who’ve done the right thing in the past and are facing unusual hardships.”

If a taxpayer with an existing installment agreement is worried about missing a payment because of a job loss or other financial hardship, Shulman has assured the public that a missed payment will no longer lead to an automatic end to that agreement.

Additionally, the IRS has announced that it is more likely to forgive a missed payment and they’ve instructed staff to not automatically default someone who is having trouble.

Frequently Asked Questions about IRS Payment Plans

What do you have to do to be eligible for an installment agreement?

To be eligible for an installment agreement, all returns that are due must first be filed.

What are the payment terms?

Installment agreements generally require equal monthly payments. The amount of an installment payment will be based on the amount owed and on the taxpayer’s ability to pay that amount within the time legally available for the IRS to collect. By law, the IRS has the authority to collect outstanding federal taxes for ten years from the date of assessment.

What are the conditions of an installment agreement?

As a condition of an installment agreement, any refund due in a future year will be applied against the amount owed. Therefore, taxpayers may not get all of their refund if they owe certain past-due amounts, such as federal tax, state tax, a student loan, or child support. The IRS will automatically apply the refund to the taxes owed. If the refund does not take care of the tax debt, then the installment agreement continues until all of the terms are met.

Does interest stop with an installment agreement?

Interest does not stop accruing until the entire obligation is paid. An installment agreement is more costly than paying all the taxes owed now. Penalties and interest continue to be charged on the unpaid portion of the debt throughout the duration of an installment agreement.

Are there fees to set up an installment agreement?

The IRS charges a user fee of $43 to set up the installment agreement. And it is possible for an installment agreement to be reinstated if the agreement defaults.

Also, installment agreements may be restructured to include additional amounts owed in one agreement. Reinstating or restructuring an existing installment agreement will cost an additional $24 user fee.

What are enforced collection actions?

Generally, IRS enforced collection actions (levy against personal or real property) are not made while an installment agreement request is being considered, or:

While an agreement is in effect,

* For 30 days after a request for an agreement has been rejected, and

* For any period while a timely appeal of the rejection or termination is being evaluated by the IRS.

Can my installment agreement be defaulted?

Yes. Failure to make timely payments can default the agreement. A defaulted installment agreement could subject a taxpayer’s account to enforced collection action and potentially have a negative effect on a taxpayer’s credit standing.

What is an annual statement of balance due?

In accordance with the law, installment agreement taxpayers receive an annual statement from the IRS. The statement provides the amount owed at the beginning of the statement period, the payments (credits) posted to account(s), any fees or assessments, and the ending balance. Currently, the annual statement is sent each year in July.

For more information on negotiating an IRS Installment Agreement or to get professional tax advice on reducing your IRS debt, visit for a free tax relief consultation or call 866-477-7762.

Michael Rozbruch is one of the nation\’s leading tax experts. A Certified Tax Resolution Specialist (CTRS), licensed CPA in the state of Maryland and the founder of Tax Resolution Services (, he helps individuals and small businesses solve their IRS problems and is dedicated to educating the public on tax planning and other strategies for managing their personal and business finances.

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