Good Debt vs. Bad Debt

When used intelligently, debt can be of tremendous assistance in building wealth. However, the word debt strikes fear in our hearts, mine included, because we've all heard stories about people getting into bad debt and bad thing have happened to them. However, I have just learned an interesting fact I'd like to share. There are two different kinds of debt. Read more [...]

Trying to Keep Tax Credits in an IVA

It is natural to be afraid of the unknown but it is far better to deal with the unfavorable aspects of any undertaking than to avoid confronting the difficulties totally. The Individual Voluntary Arrangement (IVA) process is just one of those that a person might have an irrational fear of. One of the things that an insolvent person, who is considering entering into an IVA, should verify is whether they might have been overpaid Tax Credits in previous years. If they learn that they have been paid such an overpayment, if they generate a proposal for an IVA, they can and in fact must enter the overpayment as a debt in their IVA proposal, subject to one particular condition. The overpayment will need to have been 'determined' prior to the date of acceptance of the IVA. Anybody who is convinced that they may have been overpaid tax credits ought to communicate with HM Revenue & Customs otherwise known as HMRC at their nearest tax office and convey their concern to HMRC authorities. When asked for, HMRC can provide a Statement of Account also called a SOA, and will do so as quickly as possible in accordance with the latest earnings data provided by the individual in question. You don't have to be insolvent to sort out this matter. Every person has the right to clarity with regards to their right to receive tax credits. Read more [...]

The Kind Of Financial Help We Can Get From Federal Laws

It is common for people to make mistakes and end up losing their jobs. Many times people take more loans when their credit rating is high and spend all the money only to find that their income has stopped and they have run into a huge debt trap. This is where the government laws come to be of help. Under the provisions of the Federal Law, any individual or an organization can claim bankruptcy, thereby they get relief from having to pay and clear their outstanding liabilities. But it is not easy Read more [...]

Understanding Bankruptcy

By the time you finish reading this, you will be equipped with the knowledge to avoid bankruptcy and how to avoid it. It is true that people nowadays depend a lot on 'plastics' and most of the time; this is the reason that leads to bankruptcy. Read more [...]