Tax returns and refund management

Well its nearly here. Tax time. Getting money or paying? If you are paying make absolutely sure you set the funds aside or ask for an expention in filing.

If you are recieving a refund how will you use your return? Good suggestion. Pay off debts and perhaps use it for a Share Loan in order to consolidate your high interest credit card or charge card debt.

Debt Consolidation and Auto Loans

Many times you may find that an Auto Dealership will offer to allow you to Consolidate some of your current unsecured ( Credit Card ) type debt into an automobile loan. They will offer to sell you the auto at a reduced price and prop up the rest of the loan with a debt consolidation. Good or Bad?

Good that you can pay out some of your high interest credit card balances. If you can pay them all off is best but unlikely.

Bad that the interest is usually only a point or two under the car loan rate and now you have all of your eggs in one basket, meaning if you fail to pay you loose all around. Check out all the angles and ask lots of questions.

Telemarketers and Credit card offers

We've all had them and they all arrive at the seeminly worst time of the day. Telemarketers giving us a "Courtesy" call to invite us to an exclusive group or offer of that days choosing. Well, I suggest the following.,

Remember that these folks are just like you and I. Working stiffs just trying to make a buck. I suggest this approach. Take a breath, let them finish the long introductory sentence and then simply say No Thank you and I wish you better luck on the next call. OR I appreciate your call and would really like it if you please remove me from your call list or please transfer me to a supervior that will do as I request. Good luck from here. Most Telemarketers will drop the rhetoric and do as you suggest. If not suggest that this is not a good time and ask for a contact number to which you will call back. Not too many such numbers exist.

Please remember to be kind, professional and mindfull of the person at the other end of the line.

Debt Management Plans

In order to bring your debts and expenses into order we suggest speaking with a credit counselor and or arranging a meeting with a Debt Management Specialist. There are many to choose from, the rule of thumb I suggest is if an outfit is big enough to advertise Nationally on TV then perhaps they are reputable and safe to deal with. Most people will investigate the rules of Bankruptcy in America and then find out their situation can be easilly fixed at the Debt Management level.

Reverse Mortgages

The TV is flooded with fossilized celebrities coming out of the Jurasic ages advertising Reverse Mortgages. Robert Wagner, James Garner and Pat Boone for crying out loud. Well folks be carefull. I have written in the past about the last bastion of security. Your Home; being used as security agains Home Equity Loans, Second Mortgages etc. Reverse Mortgages basically is a loan against your home that allows you to consolidate debts into one payment. Good idea only the fees and home value is predicated by a market driven by despiration. By all means look into the process and if you wish further information please let me know and the Bankruptcy.com team will help out.

Balance transfers as a debt consolidation

If used extremely prudently and with extreme guidence Balance Transfers to Cards that offer interest holidays can be a very unique and effective means to consolidate unsecured debts. I some what hesitantly make this statement but will fully explain this if a reader to bankruptcy america.com wishes it. Awe common, some one ask me a question.

My kids want me to co sign for a consolidation of his debts, What is my responsibility

Your responsibility is as a co signer as you will be, EVERYTHING. to do with the repayment, servicing and cost of borrowing for the loan IF your child defaults on the loan agreement. Co signers are in a very vulnerable position and it is the writers opinion that you think long and hard about the responsibility and integrety of your child prior to making the commitment to support the loan.

liens

Tax Liens in most cases survive your bankruptcy as in the case of Chapter 7, The lien amount is usually determined if there is a value usable to sustain the lien. A value to assets is the best bet to better prepare you for the lien amount and severity. In Chapter 13 the lien is paid out over the period of time of the 13 length.

This is a question best suited for our Bankruptcy attorney. The answer to your question is forthcoming... Stand by.

how can you get atax lien off your personal property after you have been discharged from bankruptcy

chapter 13 length

Chapter 13 Bankruptcy can usually run up to 60 months. Longer by court intervention and individual need.

what are the maximum number of months that a chapter 13 can run?