www.DuncanLawOnline.com Yes, if you settle debts with a creditor for more than 0 then you will be taxed on that “forgiven” debt as gross income. Therefore, you are shifting the burden of who you owe from an unsecured creditor to the IRS. Sometimes debt settlements can be a good idea but you will want to weight the risk of then owing the IRS. The IRS can garnish wages, bank accounts, etc.

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I’ve accumulated close to ,000 in debts and I was wondering if anyone knew of any free or cheap ways to consolidate my debt.

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My husband has 8 negitive things on his credit report in all totaling about a whooping 0 dollars. Most are so old they are going to fall off in the next year. He has 4 accounts in good standing. So my question is if he pays these debts off with a pay to delete agreement, will this improve his credit and his score dramatically or will it not have much effect, right now his score is only 572.

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Debt is no more than 30,000 US dollors (combined that is mine and spouse). If anybody can help me find governement funded programs that help people consolidate debts; that will be awsome.

Thanks.

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I am a mother of three young children ages 10, 8, and 6. My husband and I have recently separated for the second time and are trying desperately to work things out. We love each other and do not fight…we just can’t with each other and can’t live without each other. We are in the midst of losing not only each other but also our home, our vehicles, and our credit. We will be declaring bankruptcy, have turned our vehicles in, and been forced to stop paying our mortgage. Not only has my husband moved out but we are buried financially. We have been in counseling for almost a year trying to work things out. We do not cheat or do drugs…we are your average to above average Joe’s trying to make it in this world. Truthfully, we lived above our means for years but always managed to work our way out and be debt free until this time. We hit the end of the road when we found ourselves in a depressed real estate market (I am in the real estate industry) and paying for my husbands apartment and bills when he was out of the house. It just came down to the fact that we couldn’t hold it together anymore…as hard as we tried. This is the first time we have fallen into this situation as we have always been financially sound and able to work our way out of our minimal debts. It has been over a month since my husband moved out again and my family has been absent from my life. When looking for someone to co-sign for a car for me my mother decided she would not help and that I should dig my way out of my mess. I never asked for money…just a co-signer. My mother will not even take the time to talk to me. My sister has not called in over a month and decided to withdraw her listing from me and use a "professional"…that hurt. My father (my parents have been divorced since I was 4)…well I won’t even bother explaining him. Sufice to say I feel as if my family has abandoned me in my time of need. I have been there for them time and again…but they seem to be ignoring the fact that my life is falling apart. My mother in law happily co-signed a car loan for me…telling my husband that my parents don’t know how lucky they are to have a daughter like me. In your opinion should a member of my family reached out to help me, emotionally or otherwise? I just can’t imagine turning my back on my girls when they get older…telling them to deal with their problems on their own. By the way, my mother is financially sound, retired, living in a million dollar home on the water with two boats, and spending months at a time traveling. Again-I am not and was not ever looking for a hand out…just a shoulder to cry on or someone to at least help me purchase a car to drive my children around in. At least my dad was willing to lend me his extra vehicle.

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Ok, so here’s the deal… I finally want to buy a home, and I pulled my credit report… Yikes! I’m not saying that I paid all of my debts on time, because I didn’t. However, that was a long time ago and the information can only stay on for so long right? Most of the information on there isn’t even accurate! I know I can dispute it myself but I just am too lazy.

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Should debt consolidation loans be taken to pay off collections agencies, or should they only be used for paying off credit cards? I have debt of about 10,000 from medical bills and payday advances among other things. I want to pay off all my debts so my credit can start recovering.

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I have about 60000 in unsecured credit card debt…i recently was enrolled in a settlement program where the company was not able to settle my debts for the amount i was told…what other options do i have now? should i talk to careone credit or freedom debt relief? i am trying to avaoid bankruptcy as much as possible
i am in the US…my debts are now with collectors and have been for a while…i am afraid of being sued…should i call the collection agencies myself…they have offered settlements but not sure how they will workt he payments…do they need that all right away
also, what about the statue of limitations? i am in PA and i havent made a payment on thsi debt on over 4 years…do i still have to pay it?
with the statue of limitations, if i made payments to a settlement company, but those payments never went to my bablance, just the fees to the company, would it still apply to the statue of limitations?

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I wanted to go back to school to study what I really wanted to study (nursing), but I’m finding that this debt is making me worry. What should I do? Should I pay off my debts before I re-enter school? Or should I go straight forward and go to school while racking up my debt even further? Please help.

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I just kinda f*cked up my life. I’ll do all my best to keep it as short as possible and not whine.

When I was 16 I got caught for coppertheft I got in alot of debt, over 15.000 euros I have to pay back. My mother is deceased and I dont know my dad so I had to pay it back myself inmediatly working 40.50.60 hours aweek + school. Now Ive lost contact with all my old friends at my work collegueges treat each other as strangers Ive not spoken with anyone for longer than a couple of minutes last couple of years. Also because of my debt I cant get a girlfriend. There are several girls at my school now and then that show interest but because of my debts and troubles I cant really do anything with it. Ive never been kissed, not even on the lips, not even on the cheek as far as I can remember. No sex, and Im 20. So I figure its too late for me anyway, Id figure starting with girls as soon as Im done with me debts but that can take years. What girl would want a virgin, I have no idea what I should do, Im at level 0. All around me I hear about how girls now are so much into all sorts of kinky stuff, likes ropes and scratching and violent and wathever, all around me I hear people talk about sexthings I dont understand. I can never get up to that level. Im not too much into that p0rnstuff anyway, maybe Im not born in the right time or something.

I am very lonely often it makes me really sick my stomach and my head. Ive been having very serious suicide plans for a couple of years now, I cant really think of a reason why not, people always hate people who commit suicide for what theyre doing to the people around em. But Ive got nooone around me, no family, no friends, no girl, colluegues/classmates dont know my last name.
I had a rich social life years ago, but thats so long ago, Im sure those people wont really mind that much.

Its not that Im quitting, even if today Id be out of debts Id still want to die. I had goal/hopes but theyre gone now to. I dont want people to know its suicidide I want to make it look like an accident. I thought maybe go out in style, I tried to enlist in the militairy and get killed save someone else lifes no one knows that itll be a suicide. But I couldnt get in.

Feeback, has anyone have reason to live, I cant really think of one for a while. What will people say when Im gone, are they gonna hate me call me a quitter, weakling.

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