BankruptcyDebtTax LawMay 15, 2023by Jim Mielke
Clearing the Air: Understanding What Happens to Tax Debt When Filing for Bankruptcy
If you’re struggling with tax debt, you may be wondering if bankruptcy is an option for getting a fresh start. While bankruptcy can be a powerful tool for eliminating some types of debt, not all tax debt can be discharged through bankruptcy. In this article, we’ll take a closer look at how bankruptcy affects tax debt and what factors determine whether your tax debt can be...
DebtOctober 25, 2021by Jim Mielke
What Is The Best Way To Negotiate With A Debt Collector?
Are you falling behind on debt? If yes, then it is possible that you get a number of calls from debt collectors. This is very stressful, and as you worry about how to answer the debt collector. But it is not a reason to get panic but to come up with a plan of action. Dealing with a debt collector can be an unpleasant experience. Especially when you are trying to strike a deal with them, and...
DebtApril 23, 2021by Jim Mielke
Can a Collection Agency Sue You For Debt?
Remember that time you went to the doctor, forgot to pay the bill, had the doctor’s office call you and then, a few months later some random debt collector calls you for repayment? A lot of times, these situations happen accidentally, and certain times we forget about the debt, and about repaying the debt all together. When the third party calls, we are reminded of the debt and then make an...
DebtMay 13, 2019by Jim Mielke
Can the Federal Government Seize Your Tax Refund to Offset Student Loan Debt?
69% of 2018 college graduates took out student loans to pay for school. The average amount of debt for those graduates is $29,800. As you may already know, millions of former college students are defaulting on the federal student loans. To counter this issue, the U.S. government is taking this matter into their own hands. (more…)
DebtMay 2, 2019by Matthew Shea
The Realities of Debt Settlement
If you find yourself in a large amount of credit debt, the idea of using a debt settlement company to help you get out of the red may sound like a good idea. They make it seem like they are there for you and will work with you to manage your debt balance. In some cases, using a debt settlement company can be a good option, but make sure to know what you are getting yourself into before you...
DebtApril 2, 2019by Jim Mielke
Are Changes on the Horizon for the FDCPA?
The FDCPA has been instrumental in the protection of consumers from predatory debt collection practices. However, it is over 40 years old and many believe it is time for an update. There has been a minor change or two in the last 4 decades, but nothing that addresses the newer business practices of debt collectors. Now, creditors and collectors have the internet which gives them access to...
DebtMarch 20, 2019by Jim Mielke
What Is the Difference Between Good Debt and Bad Debt?
Most of us are familiar with the terms “good debt” and “bad debt”, but what do they mean? It may seem counterintuitive to consider any debt “good”. However, the health of your credit score greatly relies on debt and your ability to handle it. To better understand what types of debt you want, you have to know which kinds help you the most. (more…)
BankruptcyDebtMarch 12, 2019by Jim Mielke
Bankruptcy Options for Married Couples
Married couples often share the same debts, but that is not always the case. There are bankruptcy filing options for both situations. One partner may need to wipe out their debts but want to avoid harming the other partner’s credit. In some states, it can be beneficial to file for bankruptcy jointly. Before deciding, you should know the pros and cons of each filing option for married...
DebtMarch 4, 2019by Jim Mielke
Debt Collection Strategies for Your Small Business
Debt collection can be an uncomfortable topic for many small business owners. Very few people get into business to pursue debt. There are many ways to approach debt collection and almost all of them require some level of finesse. If you are having issues collecting receivables, keep your cool. Do Not Take It Personally Too often, small business owners get upset right away when a client...
DebtFebruary 27, 2019by Jim Mielke
Is Student Loan Debt Negotiable?
There is a growing debate over the student loan debt problem in America. Millions of former students struggle to keep up with their student loan payments which have a carry over effect in areas such as car loan and mortgage payments. It is widely accepted that student loan debt repayment is as sure as death and taxes, but is that really the case? The Student Loan Debt Problem If you are one...