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What can you do if you owe the IRS but you cannot pay the debt in full?  You may qualify for an IRS installment agreement.  The IRS offers taxpayers the option of paying off their tax debt through an installment agreement. However, interest and penalties will still be assessed to the balance you owe; therefore, you should make the largest payment possible each month to lower the total amount to be paid. For information on the four different types of IRS installment agreements read, “The IRS … [Read more...]

As you prepare your college freshman to go off to school, do not forget to discuss money matters with him or her.  Unfortunately, good money management skills is not a class that is taught in most high schools.  If your student did not have a job during high school, he or she may not have the money management skills necessary to live within a budget and make smart money decisions.  Discussing money before issues before there are problems is the best way you can prepare your college student to … [Read more...]

If you are contemplating filing a Chapter 13 bankruptcy you probably have many questions such as will your creditors stop calling you and what type of debts can you include in your bankruptcy filing.  Your bankruptcy attorney can answer all of your bankruptcy questions; however, if you want to get more information before your first visit, you can read FindLaw’s “Chapter 13 Bankruptcy Rules FAQ.” Image credit:  Sebastlen Wlertz … [Read more...]

It is never too early to begin thinking about next year’s tax return. You can take steps now to lower your tax bill and put more money in your pocket.  What you do today will have an impact on the amount of taxes you will owe next year.  For example, contributing to a flexible spending account is an easy way to pay your healthcare expenses with tax-free money while lowering your taxable income. For nine more ways to lower your taxes read, “Ten Ways to Lower Your Taxes.” Image credit:  … [Read more...]

Have you dreamed of buying one of those grand old homes that they don’t seem to build anymore?  Old homes have a charm that is missing in newer construction but buying an older home does come with a set of problems that you typically do not find in newer construction.  All homes need upkeep and maintenance; however, with an older home you may have issues such as wiring that does not meet standard recommendations or paint with lead. To read about some of the common issues with older homes … [Read more...]

Do you want to save money?  If you are willing to invest some time and money, you can save much more money in the long term by making some much needed home repairs.  Most of us love the idea of upgrading our home until we look at the cost.  You probably also have a list of things you want to “get to” around the house but never seem to find the time or money.  By making these a priority, you can improve your home and save money. For nine repairs that will save you money read, “Cheap Home … [Read more...]

t is back-to-school time and many parents will be searching for after-school care for their children.  Some parents may be searching for a new daycare for a variety of reasons (i.e. cost, dissatisfaction, etc.).  In order to make sure that you choose a daycare that is both cost-effective and safe for your child you must do some homework of your own. To learn how you can use law-related or legal resources to find a new daycare read, “5 Legal Tips for Choosing a New Daycare.” Image credit:  … [Read more...]

If you ask most people, even some inexperienced bankruptcy attorneys, they will tell you that it is impossible to discharge student loan debts.  This is a myth and is not true.  Student loans may be discharged in bankruptcy under certain circumstances. The criteria for having a student loan discharged are strict and the procedure may be a little complex; however, it is not impossible.  An experienced bankruptcy attorney can review the individual’s situation to determine if he or she qualifies … [Read more...]

A 2014 study by the University of North Carolina Center for Community Capital has concluded what bankruptcy attorneys have known for quite some time – filing bankruptcy stops foreclosures.  The study entitled "Bankruptcy During Foreclosure: Home Preservation Through Chapters 7 and 13” found that if a homeowner filed for bankruptcy relief during a foreclosure proceeding, the homeowner reduced the risk of losing his home by 70%. For more details from the study and to get more information about … [Read more...]

Being in debt is frustrating, stressful and emotionally draining.  Money problems can quickly overwhelm you and cause you to be depressed as you try to find a solution to your financial problems.  Even though you may not be able to immediately fix your financial problems, you can take steps to start feeling better as you continue to work on your financial troubles. For tips on how to beat money depression read, “7 Steps to Defeat Money Depression.” Image credit:  B Rosen … [Read more...]