HOW TO GO ON A VACATION WHILE IN DEBT? One of the most common question asked by people who want to go on a vacation is, if it is possible to go while owing some money. If you find yourself asking this question, it is important to know you are…

Using a mortgage to finance your new home is a welcome development. Once your application has been submitted for review, it can either be accepted or denied. Your loan could be denied for a variety of reasons, and it is a normal occurrence when there is a problem with your…

Remitting the employee’s trust fund to the Internal Revenue Service (IRS) can be a regular task for any firm, especially when the business organization is functioning well. But there are situations whereby companies, employers, third-party accountants, or a specific employee might fail to remit the company’s employer’s trust fund to…

Car repossession occurs when you are late on payments for your car. This act can occur as soon as the first default and lenders are free to repossess your car without needing a court warrant. A deficiency balance therefore occurs when there’s a payable balance left after the sale price…

Debt relief is carried out using different methods. Basically, it involves reducing the debt owned by a borrower to a level where they can pay. Some of these methods include reducing the amount payable or the interest owed on the borrowed amount. …

WHAT IS DEBT CONSOLIDATION? Debt consolidation simply refers to an act of obtaining or taking out a new loan to pay off or settle other existing liabilities or small consumer debts. …

The IRS is the major tax authority in the United States of America. They are responsible for tax collection and carrying out any other activities that are required to ensure that the collection of taxes is done. The IRS collects taxes on income, sales, capital gains, etc. Income tax is…

Bankruptcy is a legal process whereby individuals or entities who are unable to repay their debts to creditors seek or find relief from most or all of their debts. Bankruptcy is often imposed by a court order usually issued by the debtor. The process of bankruptcy can also begin with…

How interest rates are designed to keep you in debt Interest rate is the fixed percentage of a loan that is charged by a lender to the borrowers. The amount of money loaned is called the principal. Usually, interest rates affect the size of each loan; the more the amount, the higher the interest rate and vice versa. An interest…