I'm currently in a consumer proposal with a remaining balance of $7000, I recently got my self cought up in 4 payday loans worth $2000 and i'm stuck in the payday cycle. My question is, is it possible to get a debt consolidation done on these payday loans while in my proposal. I can not get a loan anywhere because of the consumer proposal. Thanks
See http://www.esuperfind.com/lowermybills.php?id=nth they usually can help anyone, depending on location
Does anyone know of a program or company that can consolidate your bills without filing bankruptcy? I am a single mother of three and make decent money with my inhome daycare business, but I need help eliminating alot of bills that i shouldnt even have.
Use
http://finance.ebookorama.com/creditsolutions.php?id=nthn they are perfect
I know I should pay it but the debt is in pounds & I have no way of paying it back. The truth of the matter is I spent the money I had aside for tax while business was bad and then I moved home, closed all bank accounts and am just hoping I wont personally get chased for it.
Unless some politician wants to up grade their car, I wouldn't worry about it.
I have a tax bill due end of March.It has already been lodged. I am currently going for a home loan, I am planning on making arrangements with the Aust Tax Office after my home loan is approved. and need to now if this will show up on any Credit Report or anywhere else before its official due date.
If it is due end of March - the ATO will not be chasing you until then. It's not due until then. We are still in January now?! It will not be shown in any credit report for a while.
I filed a chapter 13 in July 2002 and completed my 5 years of repayments in July 2007 and the case was discharged. I immediately got a bill from the state saying I still owe $900 in interest and penalties from tax year 2000. Do I really owe this? Are all of my other debts wiped away now?
Bankruptcy does not wipe out tax obligations!
5.Why is debt financing said to include a tax shield for the company?
a)Taxable income is reduced by the amount of the debt
b)Taxable income is reduced by the amount of the interest
c)Taxes are reduced by the amount of the debt
d)Taxes are reduced by the amount of the interest
People who advocate borrowing money for the "tax advantages" are bad at math.
Pay $1 (in interest) to save $.28 (in taxes) STILL leaves you a net negative amount.
I can afford to pay off £40 a month.
Hi, I would prefer to pay off my debts rather than apply for bankruptcy.
Are there any special companies that can offer a loan and be happy receiving £40 a month.
Before you start going into consolidation loans, make an appointment with the citizens advice bureau who may be able to come to agreements with the companies you owe money to.
This wont cost you any fees.
If I let my cards slip for a while I don't know how much they've hurt my credit. I need credit card debt consolidation, will they accept me if my credit cards have been beating up my credit a little in the last month or 2?
Please do not consolidate. It is not free, they will lower your payments by increasing the length of time until you are debt free, and you will take a hit on your credit score. Or they negotiate your debt down after telling you not to pay for awhile adding another hit to your credit score. There is a better way.
A. Have a garage sale and sell anything that you no longer need or want.
B.Get a temporary part time job, if you have one, get another.
Here is a plan that can help you. If you work the plan, the plan will work for you:
1. Make a budget. Make the budget a week before you get paid. A budget is not a punishment! It is a tool which will free you from ever having to worry about money again. Put everything in your budget. Especially those annual, biannual, or quarterly bills like car registration, insurance, etc. Give every dollar you are going to bring home the name of where it is going. Add an "emergency fund" category to your budget for 25 dollars and save up until you have 1000-1250 dollars. Your emergency fund will help keep you from getting into new debt because of an emergency. If you can, set up a direct transfer to a savings account for your emergency fund. That way it moves automatically and you don't even have to worry about it. You must cut your spending and live on less than you make.
2.First get current on all of you debts and make no more late payments. Stop using your credit cards immediately. Do not take on any more debt. Credit cards are like quicksand only the death is much slower. Make a list of all of your debts in order of highest interest rate to lowest interest. Use cash only for your spending from now on.
3.Pay the minimum due on all of your debts and then put your extra money towards paying off the highest interest one first. After you get that one paid off, you put the money you were paying on debt #1 (the minimum payment and the extra payment) towards debt #2. That will pay debt #2 off faster. When that is paid off, you put all three payments towards card #3 and that one will be paid off pretty quickly. As an example:
To start :
Debt #1 (highest interest): minimum payment+ extra payment
Debt #2 (middle interest): minimum payment
Debt #3(lowest interest): minimum payment
Debt #1: paid off
Debt #2: minimum payment from Debt #1+ Minimum payment from Debt #2 +extra payment
Debt #3: minimum payment
Debt #1: paid off
Debt #2: paid off
Debt #3:Minimum payment from card #1+ minimum payment from Debt #2+ minimum payment from Debt #3+ extra payment.
That way, you will get them all paid off, on time, and pay the least interest. It will also help towards rebuilding your credit since you will no longer have any late payments. This works no matter how many different debts you may have.
4. After you get all of your debts paid off, add to your emergency fund until you have 6-12 months of income saved up. Put that emergency fund money into a liquid money market fund or into a Bank of America no-risk CD so that if you need the money you can take it out without penalty.
5a. When you have your emergency fund in place, add a category for "fun" to your budget. Save for a holiday, a vacation, a big screen, or dinners out, whatever goal you want. Remember to enjoy your life.
5b. When you have your emergency fund in place, start saving for your retirement. Join the 401(k) plan at work and contribute the maximum. Your employer probably matches at least part of your contribution so why give up free money? Open a Roth IRA and contribute the maximum on a monthly basis. If you start saving for your retirement now, you will probably retire a millionaire.
5c. When you have your emergency fund in place, start saving for your next car. Only buy cars, or other things that depreciate, with cash. Save up for a nicer car. That way you get the interest instead of paying the interest.
You can do it and it isn't as hard as you think. Just follow the plan.
I have spoken to a lady from a debt consolidation company and it sounds quite good. But what are the pros and cons?
Not all are bad, only the ones that charge.
I use Payplan, and have done for a few years. My debt problem was astronomical (still is a bit), but they do not charge, deal with creditors and more importantly the creditors trust them. 100% of your money goes to pay off debts, they can help get the interest frozen, and regularly review your circumstances with you.
Most important thing is do not "hide" from the problem, deal with it.
Payplan are fully funded by the banks, not by consumers.
So my boyfriend owes about $20,000 in back taxes. I would like to know if there is anyway to get it reduced? We have talked to the IRS they can set up a payment plan but then it would take forever to pay it off. If we went to a lawyer would it really be worth it? I have heard of people getting burned by doing that. If you have any information that would help please let me know. Thanks!
You can pay it off.
If you qualify, there is an Offer in Compromise program. Some lawyers, especially the ones that advertise heavily, will fill out the forms whether you have a chance of qualifying or not, and charge a lot.
Basically, if the IRS can get more from an offer than it can from normal collection methods, it will take the offer. The way it will figure it is it will compute your normal deductions from the financial statement you provide and carry it over for five years or so; then compute the value of all your assets, such as house or car. If the number you offer is greater than that, they will accept it. Oh, and by the way, the money cannot come from any of your assets; it has to come from a loan or a generous relative, something the IRS can't touch.
But if bf owes $20K in personal (1040) taxes, the IRS will accept any offer that pays off in 5 years of less (around $350 for your case), with little or no hassle.
