Most all debt is unwanted and burdensome. When you have a significant amount of debt you are limited with what you can do in your free time. Travel takes money, extracurricular activities for your kids takes money, even everyday activities like filling up your car to go to work takes money. So when your budget is stretched by credit card payments, car loans, and mortgages it can be hard to find extra cash for extras. When tax debt is added to your personal consumer debt, a tight budget can really feel the pinch.
When you have a lot of debt, financial advisors will tell you the best method for paying down what you owe is to put all your disposable income towards the debt carrying the highest interest rate. Other experts advise loan consolidation, or even bankruptcy.Read More
About Larry Heinkel Tax Law Group, and our approach to solving your tax situation.