Information

Do you owe back taxes? Have you received payment demands or other worrying letters from the Internal Revenue Service (IRS)? Owing money to the IRS can be scary and confusing, but luckily, you have options. Here is a look at just five of the potential routes you may be able to take with your tax payment.

1. Short-Term Payment Plan

The IRS’s short-term payment plan is for people who can pay their tax payment within 120 days. If you work as a contractor or any other business where you get large payments followed by relatively long periods of not bringing in revenue, this option may be ideal for you.

(more…)

Everyone knows that most divorces take a large emotional toll. But what about a financial toll? Most people don’t realize this aspect until they experience it firsthand. Divorce can cost you thousands of dollars upfront and exact an even larger amount of money over the course of the next several years.

Unfortunately, newly single moms often take the largest financial hit in the aftermath of a divorce. The change in finances often leads single moms to file for bankruptcy a few years after divorce.

In our blog below, we’ll talk about why many single mothers have to file for bankruptcy. We’ll discuss the warning signs of an imminent bankruptcy, then talk about why filing for bankruptcy might help, rather than hurt, your financial future. (more…)

Even though you have worked hard to use money wisely, you’ve found yourself in a serious financial situation. You’ve exhausted your savings, and-despite your best efforts-you can’t seem to get your budget under control. You have too many unexpected expenses like medical bills and repairs, and you’ve fallen behind on other essential bills like your car and house payments.

What do you do now? Your creditors have started to call for the debts you owe them. You may even face foreclosure on your home. And if you lose your home, what will happen to your family at that point?

First, take a moment to calm your nerves. You still have strategies at your disposal that can save your home and give your bank account a little financial relief. Learn more about these strategies below. (more…)

Credit cards can be a blessing or a curse. They can help you get the things you need, even when you don’t have enough income to cover your expenses. But if you’re not careful, that little piece of plastic can lead to enormous amounts of debt, filling your life with stress.

Even though nearly every American owns at least one credit card, many people do not know the truth about credit cards and credit card debt. Various myths swirl around and mislead innocent credit card users. Here are some of the most common myths. (more…)

Nobody plans on going into overwhelming debt, but sometimes life doesn’t go as planned. If life events have left you unable to pay your bills, the time has come for you to consider personal bankruptcy.

While many people do not want to face this financial decision, bankruptcy gives you an effective legal option to help you pay off your debts and get your life back on track. Only you can decide if you want to use this option, but if you are in serious financial trouble, bankruptcy could represent the best solution.

A discharge in bankruptcy means you legally don’t have to pay the discharged debt and the creditor cannot try to make you pay. 

In this blog post, we will discuss when you should consider filing for personal bankruptcy, and then we’ll tell you how to begin the process. (more…)