Avoid Debt – Advice on avoiding debt & bad credit issues

Dental Vision Insurance: Choosing Correct

April 23, 2012 by · Leave a Comment 

There are many offers for low cost dental insurance. While dental insurance is a necessity, getting it for sake’s is not a very smart move. Dental insurance that also covers the eyes is very good in that you can have more covered for an affordable price. The need for this kind of insurance is greater for a family. Dental operations are common and routine visits to the dentists are normal. Eye accidents on the other hand are troublesome and most likely need specialized care. The costs of these operations sometimes cannot be met out of pocket and that is when insurance is needed.

How can you choose the best dental vision insurance plan for your family?  Many people will simply pick the cheapest plan on offer. This wrong approach is realized when the ophthalmologist kindly informs you that such as such an operation is not covered. This is very dangerous especially in an emergency. In most cases, you will be forced to cover the cost out of pocket. This can be very disheartening and also financially disastrous. In choosing the correct plan, go for one that has a good balance between costs and what is covered.

Some agents offering insurance for dental care will have very strict terms and conditions. Some of these conditions maybe being restricted to a certain city, practitioner or health institution. This is useless for someone who travels a lot. The flexibility in the insurance contract is a crucial point to consider. Look at the price and flexibility as the main points in making a choice.

How to handle personal taxes in a bankruptcy filing

April 13, 2012 by · Leave a Comment 

When filing for bankruptcy, everyone wonder whether they can eliminate paying taxes owed. It is a complicated matter and usually depends on the type of tax and other circumstances. Here are some guidelines but always seek professional help.

In a Chapter 7 bankruptcy, in order to get a discharge of taxes:

  • The tax return must have been first due at least three years before the bankruptcy filing;
  • The tax cannot be assessed or assessable within the previous 240 days prior to the bankruptcy filing;
  • In the case of late filed returns, return must have been filed two years prior to the bankruptcy filing;
  • The tax return was not fraudulent; and
  • The payer did not attempt to evade taxes owed.

If there is a lien on taxpayer’s real property, then the lean have to be paid at the time of the sale of the property.

In a Chapter 13 bankruptcy, the amount to be paid depends on the tax payer’s income and the budget proposed in the Plan that is submitted to the court.

Since payment of taxes owed in a bankruptcy is more complex, seek legal assistance from a professional before filing bankruptcy.

Credit card consolidation – How can you achieve on your own

April 2, 2012 by · Leave a Comment 

Guest Post by Steven Robart

The amount of debt that you incur on your credit cards is directly proportional to the usage of your credit cards. Thus if you use your credit cards for every purchase and every transaction that you make, it is likely that the amount of your debt keeps increasing. In order to get out of such debts you can use credit card consolidation. This process includes merging your multiple credit card debts together so that the process of paying back your debts becomes easier. Also this method helps you to reduce the interest rate on your debts so that you can get out of debts by making lower monthly payments. Here are two methods how you can consolidate your credit card debts on your own.

•Transfer your balances – Balance transfer method is a way in which you can get rid of your credit card debts on your own. In this process you can transfer the debts of all high interest cards into a single low interest one. As a result of this, you can now make payments on just one card in order to get out of debt. Along with this you can pay low interest rate even on all the high interest cards, that is, the interest on the card to which all the balances have been transferred. There are also balance transfer cards available which have no interest rate or very low such as 1% or 2% interest rate to which you can transfer your balances and pay them back. However, you should be careful to pay these back fast as the low interest offer is only for an introductory period.

•Take a consolidation loan – A debt consolidation loan is best taken against your property. However you can use any of your other assets as collateral to take a debt consolidation loan. This means that if you fail to pay back the loan, your property or your assets would be seized in order to pay back for the loan. This security makes such debt consolidation loans have a lower rate as compared to ordinary unsecured loans. Thus you can use the consolidation loan to pay back all your credit card debts and then with off that single loan over time.

Hence you can see how the above two methods of debt consolidation can help you out of your debts without seeking any professional help