As a result of legislation enacted by Congress, the student loan payment freeze is ending. Student loan interest will resume Sept 1, 2023. For most, payments will be due in October 2023. It is expected that nearly half of borrowers are unable to begin making payments again. Many people are…
For a long time now, student loans have been pretty much prohibited from being discharged through bankruptcy. That could change by the looks of this proposal. The S.2598 – FRESH START Through Bankruptcy Act has been recently referred to committee. Why is it so hard, if not impossible, for people…
Here are 4 steps you can take to avoid a having your tax refund taken for a Student Loan default: Get your student loans out of default. After nine months of nonpayment your student loans go in to default status. Making the minimum payments on time will keep you out…
If your tax refund has already been taken you need to request an Offset Refund. If you think your tax refund may be been taken in the future, you need to request an Offset Refund to protect your tax refund from being taken. You can request an refund whether your…
Millions of letters are mailed by the IRS each year to taxpayers for many different reasons. If you get a letter from the IRS here are a few suggestions on what to do. Open the letter right away and don’t panic. Most IRS letters will be about your federal tax…
I’m speaking of your actual tax return – the 1040 Form with all schedules and attachments. Make sure you get an electronic copy or a paper copy of your tax return if you’ve filed electronically. Starting with 2017 tax returns, the IRS may ask you for the amount of your…
Criminals are impersonating IRS agents and making aggressive and threatening phone calls to taxpayers. During filing season, the IRS sees a surge in scam phone calls that threaten police arrest, deportation, license revocation and other things. Be on guard against these con games that happen throughout the year, especially during…
There are 4 ways you can get a copy of your tax return information or transcripts. If you are filing bankruptcy, you will need a copy of the last 2 (two) years filed tax returns regardless of whether you owe(d) taxes or receive(d) a refund. Example – if you were…
Whether you have already filed your tax return and received your tax refund yet or not, if you are thinking about filing bankruptcy, you may be wondering whether or not you’ll get to keep your tax refund. Under Chapter 7 and Chapter 13 bankruptcy, your tax refunds are protected by…
Did you cosign for a student loan for your child or spouse? Co-signers and the student borrowers both owe the full amount of the loan. The primary borrower might pay the loan now, but if they stop paying, those debt collectors will be coming after the the co-signer for the…