Archives for March 2011

Debt Management Plan – DIY Or Delegate To Consultants?

You did not plan for it, but somehow, you managed to financially bury yourself almost six feet under. Maybe it was your credit cards, medical bills, school loans or personal loans that shoved you into this financial hole. While you still can, make good use of the little oxygen supply left down there by arranging, or at least, by asking a credit consultant to formulate for you, an effective debt management plan. What Is A … [Read more...]

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Debt Management Program – A Matter of Life and Debt

Debt Management Program For Borrowers Buried In Debt Credit cards provide security, convenience and a little financial backup to consumers. However, when abused and misused and aggravated by other unsecured loans can inconveniently bury you in debt. The strain of a huge debt haunting you daily can greatly affect your way of life. For someone who already dug a hole by abusing credit, a debt management program can be of … [Read more...]

Getting Rid of Tax Debt

How do I minimize or pay off my Tax Debt? When some people think of having tax debt, movie images of the police chasing after the mafia in the streets of 1950’s New York for tax evasion come to mind. A pretty scary thought! No one wants to have someone chasing them for debts owed. Especially the IRS! Don’t worry, this is most likely not even close to reality for most of us – unless you purposefully avoid paying your tax … [Read more...]

The Best Time To Start Debt Management

Debt Management Helps Cultivate The Field Rather Than Dig A Hole Debt is not as bad as many people think it is. Debt, when used in the right way, in the right proportions and for the right reasons can be used as a leverage to further your financial potential rather than be a cause of stress and sleepless nights. Among other things, debt helps you own a car, buy a home or send you to school. Proper debt management ensures … [Read more...]

6 Top Reasons Why Debt Managment Fail

Seeking Debt Management Is Not A Foolproof Solution Many people overwhelmed by a mountain of debts seek the help of credit counselors for debt management, either as a personal choice or as instructed by a court order. Although numerous debtors have been greatly helped by the program, still a considerable number of them end up with the same, or sometimes greater debt. Despite the well-reasoned principle behind this … [Read more...]

What to do with 1099C from mortgage loss

I lost my house, 1099C...what now? What is a 1099C? Any time you are forgiven over $600 in debt the creditor must send you a 1099C that you are supposed to include in your tax return as earned income. So, If you find yourself in a position where you can no longer afford your mortgage and the bank takes the property back, either through the short sale process or foreclosure, you could be hit with a huge tax … [Read more...]