4 Mistakes You May Be Making With Your Tax Refund When You Have Debt

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Paula Langguth Ryan, Mediator, Consumer Advocate and Communications Consultant Got debt? Thinking of using your tax refund check to play catch up or pay down a balance? Before you act, read this article. Most people who have debt make the wrong choices with their tax refunds. End result: you wind up even more stressed … Read more

Bankruptcy Filings Spike With Tax Refunds

A recent paper from the National Bureau of Economic Research has found that tax refunds create a spike in bankruptcy filings by as much as 7 percent. The reasoning behind this spike is due to households needing to file bankruptcy but not having the cash on hand to actually declare bankruptcy. The tax refunds actually … Read more

Say Good-Bye to Tax Refund Loans.

Tax refund loans or tax refund anticipation loans as they were known, were always a stinker. People would pay tax preparers a lot in fees just to get their refund a little sooner. But those days are thankfully on the way out. This excellent article in the Washington Post explains how the loans grew and … Read more

Tax Refund Check Cashing Scheme Hits Southern Florida

As tax season rolls around it’s no surprise to see tax refund check cashing schemes arising in the news. Announced Monday was the filing of a criminal Information charging defendants Wilson Lau, and his wife, Kate Yuee Lau, for their participation in a check cashing scheme involving more than $5 million in fraudulently obtained tax … Read more

55 Indicted In Operation Stolen Treasures

55 people have been indicted with connections to a large tax fraud scheme which involves hundreds of falsified income tax returns that sought over $250 million in refunds. This scheme has been deemed “Operation Stolen Treasures” and while it is not a big blockbuster movie starring Nicholas Cage it is a criminal investigation revolving around … Read more

I Want to Use My Tax Refund to Pay Down My Debt. – Laurie

“Dear Steve, Okay you asked, I have my five credit cards($850), ($120), ($140), ($870), ($550) an overdraft, gas card, timeshare, 2 car loans and a mortgage. I also have to pay my property taxes for my home($1050) and the time share($883). I want to knock out 2 cards one both under $150, and try to … Read more

Having Problems Paying My Tolls for My Commute. – Drew

Drew “Dear Steve, I owe about $60,000 in student loans. I owe $15,000 in credit card debt. I have no trouble making the monthly student loan payments, and I have no problem making at least the minimum monthly payments on my credit card. The credit card company just lowered my credit limit so that I … Read more