HELP I owe alot of money to goverment and credit cards?
Posted by | Posted in Credit Help | Posted on 11-07-2010-05-2008
11
How do i get out of my debt? i owe student loan 10 k i never paid on it in like 7 years, i owe unemployment 30 k, ( it was only 7 k but every year they add on 10 k for what they say is a peanelty fee)…….( can they do that)? and I owe like maybe 15 k in credit card debt… I also never filed my income tax for the past 3 years and I should get a refund maybe worth 10 k but E. I takes it so what should I do and how can I get out of debt? seriously I need help.. I am on anti depressent drugs because of this so no jokes just true real answers please
iM ALSO THE ONLY ONE WORKING TO SOPPORT MY WIFE AND 2 KIDS
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Chapter 13 bankruptcy is probably going to be your best bet, as your it appears that all of your taxes and penalties can be included in this form of bankruptcy. This form of bankruptcy may discharge some of the fees and penalties. These are complex issues. Consult with a bankruptcy attorney for guidance. This link has some good info: http://www.moranlaw.net/taxtools.htm
The credit card debt could not be discharged in this form of bankruptcy though.
Honestly, there really are not a lot of options here. If you can’t do bankruptcy, then you may just have to live with wage garnishment for quite a while should the government take this approach. 25% is the maximum allowable garnishment. Once wages are garnished at this maximum level, then they can’t take any more. In many states this max. level is much lower.l
Contact your local Red Cross or United Way for a referral to the free legal aide society in your area for further guidance. Good luck.
Sell a few organs.
Well you’re screwed.
What help are you expecting on this forum? See a legitimate financial counselor.
First of all your should have been paying on your student loans? Why didn’t you pay into unemployment? Why didn’t you file your taxes?
then you have ran up credit card bills?
I would have to be on anti depressant drugs if I did that.
Start paying on your student loans and they will not do anything to you. You do not need some company doing this for you. They do not work for free, and in the end it will cost you more.
You need to take responsibility for your actions!
First of all cut expenses down to the bone. Get a cheaper place to live, maybe a cheaper car?
Sell what you can, do your taxes and use the money to pay off your unemployment so they will stop adding penalty’s. Pay the highest interest rate bills first. Maybe move back in with your parents until you can get it paid down. The main thing is start paying your bills.
File your taxes. The refund will be applied to your outstanding student loans. If you have $10K worth of refund, that will almost pay off those student loans.
I don’t understand how you can owe unemployment $30K. Did you must receive unemployment benefits that you were not entitled to? I’m surprised the state isn’t garnishing your paycheck for that.
That credit card det is the least of your worries. Eventually the Statute of Limitations (SOL) will expire and the derogatory item will age off your credit report. Those student loans and that unemployment debt ain’t never going away.
This does not excite me but this is what the IRS has to say.
The tax statutes were re-codified by an Act of Congress on February 10, 1939 as the “Internal Revenue Code” (later known as the “Internal Revenue Code of 1939″). The 1939 Code was published as volume 53, Part I, of the United States Statutes at Large and as title 26 of the United States Code. Subsequent permanent tax laws enacted by the United States Congress updated and amended the 1939 Code.
ALL taxes are theft. The government will continue to take more money from the rich AND middle class as long as we are okay with the idea of services provided at the barrel of a gun. Propaganda is the only thing propping up the idea of government.
Is their any business that will not require us to pay taxes?
At every business this number one concern is taxes.
– Jacob Roberts
This Income Tax Is Voluntary For Most People?Can anyone elaborate on this subject. 1)Due to limitations imposed by this U.S.Constitution, filing of federal income tax returns and payment of federal income tax is voluntary, not mandatory.2)this 16th Amendment to this U.S.Constitution, which precipitated this federal income tax, was never legally ratified.3)this U.S.government finances its operations from this unconstitutional creation of fiat money, not with revenue from income taxes.
– Don Roberts
At this point your best bet may be bankruptcy. It is difficult to tell without more information. Perhaps you should consult a bankruptcy attorney. If you meet with a lawyer, be sure to be open and honest about your financial difficulties.
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