Archives for DEBT MANAGEMENT

3 WAYS YOUR ATTORNEY CAN HELP BUSINESS OWNERS WITH IRS TAX DEBT

As another tax filing deadline for businesses passes, tax debt negotiation becomes a valuable topic of discussion for those business owners who owe the IRS money. If you owe the IRS for this most recent year and/or for any years prior you may have options for  managing your IRS tax debt. We will cover three of those options. Bankruptcy. Many people are not aware that their tax debt with the IRS may be discharged by filing bankruptcy. Eligibility for discharge under Chapter 7 or Chapter 13 of the bankruptcy code requires the debt to have been assessed by the IRS
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YOUR FREE CREDIT REPORT AND THE 5 MOST COMMON ERRORS FOUND

Debt Management is a service we provide in the Las Vegas and Henderson areas at our law firm. One of the first things you need to know to effectively manage your debt is your credit score. Most people are not aware that you are eligible to get a copy of your credit report for free once per year. The official site to access your official report is https://www.annualcreditreport.com/index.action. There are other sites that claim to offer free reports but they are commercial sites that often charge subscription fees or do not have complete information from the three credit reporting agencies.
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LAST CHANCE FOR FORGIVENESS? THE DEBT FORGIVENESS ACT AND WHAT IT MEANS TO NEVADA HOMEOWNERS

The Debt Forgiveness Act. The Mortgage Forgiveness Debt Relief Act became law on December 20, 2007 and has since been extended on 3 occasions, to the relief of millions of underwater home owners Congress agreed to extend the Act. This act offers relief to homeowners who would formerly owe taxes on forgiven debt. The last extension covers homeowners through the end of Tax Year 2016. This means that is you relinquished your home in a foreclosure, short sale of deed in lieu of lien, or had a loan modification resulting in debt forgiveness in 2015, or if one of these
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CREDIT REPAIR: AVOID THE SCAMS, HIRE THE RIGHT ATTORNEY

When so many factors like insurance, employability, housing and loans are affected by this magic number, our credit score, we understand how much is riding on good credit. Be wary of becoming a victim to unethical credit repair agencies. The McDonald Law Group works closely with our clients to help repair their credit. McDonald Law Group performs a number of services aimed at repairing your credit, including: Reviewing your credit reports to evaluate potential errors or ways to improve your score Sending demand requests for errors and inaccurate information to be removed from your credit history Negotiating with credit reporting
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CREDIT REPAIR

Your credit score is one of the most important numbers in your life.  With a good credit score you can purchase a home, a car or take out a number of other loans with a low or 0% interest rate. Due to these harsh economic times many people have fallen behind on credit card payments or defaulted on loans altogether. Your ability to qualify for any loan is largely determined by your credit score. Additionally, your score will determine what type of terms you will receive. Because of this, having a good credit score may save you hundreds or thousands
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LOAN CRISES

During these hard economic times, we continue to see people of all ages concerned about their legal rights and obligations. The stigma that was once associated with foreclosure and bankruptcy is quickly dissipating as the number of effected individuals continue to rise. It is important to understand your legal rights and options. Everyone has been affected by the recent mortgage crises. Predatory lending has impacted individuals of all ages across our valley. We see cases of individuals everyday that have been affected and are either in danger of losing their homes or are so upside down in their homes they
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