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Tax Related

I’m in a Balance Liquidation Program and in Collections With United Recovery. Should I Consider Bankruptcy? – Jim

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“Dear Steve, I owe 64K in unsecured debt ,I have one card on a Balance Liquidation Plan , another on a 1 year customer care program, and one in collections with United Recovery . Also two smaller ones . I’m self employed and business is very off due to the economy . I have yet to pay any corperate taxes ... Read More »

Can I Get Rid of IRS Debt in Bankruptcy? – Julia

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“Dear Steve, If I file bankrupcy will any of my IRS debt be forgiven? I owe for every year since 2000. Julia” Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here The Answer Dear Julia, Yes, ... Read More »

I’m a Police Officer and Having Debt Problems. – Abby

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“Hi Steve, My name is Abby. I am so happy to have found your website. I am really hoping that you can help me. This is my story: I am 35 years old. I use to be married. Had a great paying job. Owned a home. Had enough money to put away in an IRA. Pretty much living the American ... Read More »

Should I Use My IRA and Tax Money to Pay Down Debt? – Tim

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“Dear Steve, My wife and I have accumulated considerable credit card debt ($70K)while she was out of work for 5 plus years while raising 4 children. I have approx. $120K in a SEP IRA. I am 47 years old and my wife and I combined make approx. $150K per year. I owe $190K on my mortgage, house is worth approx. ... Read More »

Mortgage Company Sent Me a 1099-C. Do I Owe Tax On This? – Derek

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“Dear Steve, Last year I was hounded by my mortgage company to refinance my home. I had not been late on any payments. I was OK with my payments, not in any type of financial bind etc. I finally relented and listened. They offered to reduce my interest, but the rate wasn’t worth the charges. They came back and offered ... Read More »

Should I Use My Tax Refund to Pay Off My Credit Card Debt? – Cassandra

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“Dear Steve, I’m a 39 year old single-mom of two, who makes about $30,000/yr. I currently have credit card debt of about $7800. No savings. No 401K. I usually get a tax refund of around $4000. So, my question is, do I pay off as many credit cards as I can with the refund or do I bring the balances ... Read More »

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