First Property Abroad

Mar 8,2019

Loan for tax debts

It’s that time again on the 31st of May. Then is the deadline for the tax return. The self-employed, who have commissioned a tax consultant, can take their time by the end of the year. For all others, it may be the case that they have to reckon with a high tax back-payment to the tax office. But what happens when the money is missing? Is there a credit for tax debts?

How to replace tax debts at the tax office?

In particular, it is the start-up founders who are seriously affected by tax debts. For those who have just opened their business, the tax office is a long way off. Rather, it will focus on attracting new customers. After all, the business is supposed to be up and most forget that there is also a tax office.

At the latest after the first reminder for the tax return, it is clear that taxes have to be paid as well. Reasonably enough, reserves should have been formed, but that was neglected. Now only a loan for tax debts can help. In most cases it hits the freelancers and the self-employed. Employees subject to social security contributions are thus not stressed, as the employer automatically pays the tax to the tax office on a monthly basis.

Apply for a moratorium at the tax office

In special cases of hardship, those affected can request a deferral at the tax office. But this only succeeds if an immediate payment of the tax would threaten its existence. If the tax office agrees, then the tax debt can be paid in installments. If the tax office refuses to defer payment for any reason whatsoever, a credit for the tax debts must be applied for.

But this only works if the credit rating is still ok. However, self-employed and freelancers have a problem. There are only a few banks that lend a loan to this profession. It gets even more difficult with the founders of the founders, because they do not yet have any reliable sales figures. Nobody can foresee how the business will develop.

If the credit rating does not allow a loan

Once a bank has been found that lends out a tax credit, the applicant’s credit rating is checked. If there were already payment difficulties in the past, a loan commitment can become a problem. If the matter has already been settled by payment, a notice of completion would have to be placed behind the entry. Nevertheless, there are many banks that refuse a loan even then. Even worse is the situation if the process is not done yet. Then comes a rejection by return mail.

Under these circumstances, the only solution is to ask his friends or relatives for money. Certainly this is an unpleasant task, but it can not be avoided. All self-employed people are told that they do not even come into this situation when they spend a part of their turnover on the tax office each month. Who knows that he has to pay, can win time by delaying the tax return. But at some point reminds the tax office. Then it’s time to take care of the tax bill. Once the tax return has been filed, it will not take much longer until the decision is made. At least then at least part of the tax bill should be set aside.

by Becky Billiot

Feb 25,2019

Focus on Debt Consolidation: Debt restructuring

Also known as loan buyback, debt restructuring allows a borrower to reduce their monthly payments. The practice is for all individuals with multiple credits in progress.

Debt restructuring and its benefits

The operation of consolidating all the loans of a client into a single large debt is known as the redemption of credits. This practice, which dates, was gradually democratized to be accessible to all the public. Indeed, all banks are able to redeem a customer’s credits when the latter requests it. After this practice, there is only one monthly payment to settle with a contact person. Debt restructuring helps indebted households to better manage their finances. However, the buyout is possible only in the presence of several debts combined as consumer credit, auto loan and mortgage loan.

Several advantages come from the operation. The most obvious result is the reduction in the monthly payment. The home manages to manage its budget better when it undergoes only one levy each month. Then the borrower has a longer repayment period thanks to the intervention. Finally, the overall debt ratio is experiencing a strong discount after the loan buyback. It is for this reason that it is possible to obtain a new credit without waiting for the payment of all debts. However, one must first look for a contract with a small credit redemption rate to bring out all the benefits. To do this, the client can turn to a credit redemption broker or use a comparative online tool.

How to use a loan redemption comparator?

The comparison is always required before subscribing to a banking service, whatever its nature. For those who wish to use a virtual comparator, simply go to redemption-de.credit and follow the instructions on the interface. The site asks its user to complete the form in order to obtain a flexible answer according to the profile of the individual. After that, the tool takes about 3 minutes to give a result. Unlike a loan buyback broker, the service offered by the tool is completely free. The borrower gets a solution appropriate to his needs with an interesting rate without paying a round. Saving time and saving money are the main advantages of using a reliable comparator like redemptions-de.credit.

by Becky Billiot

Lenders Feb 16,2019

Is it worth cooperating with debt collectors?

Czy warto współpracować z windykatorami?

The debt may get to a debt collection company whose employees will try to recover it. Is it worth working with debt collectors then?

Loan, loan, bills of various types – if we repay them on time, there is no problem. However, difficulties begin when we do not regulate them systematically, and thus the unpaid debt arises.

Establishment of unpaid debt

If we have such debts, the creditor, for example a lender or a mobile operator, will contact us. The contact is made mainly by post, but it can also be by phone and will consist in reminding us that the repayment period has passed and we should settle the obligation. At the same time interest for late payment will start to be charged.

In correspondence, we find the date to which we must settle the obligation. It happens that the creditor sets two or three terms in turn. Usually, when after about 2 months the debtor fails to pay his obligation, the case is directed to the debt collection agency. We often learn from correspondence that debt can be transferred to it.

Amicable debt collection

Collecting companies most often deal with so-called amicable or soft debt recovery. These are actions aimed at informing the debtor that he has unpaid indebtedness as well as persuading him to regulate it.

Amicable debt collection has nothing to do with the debt collection execution – often these procedures are confused with each other, but it is worth remembering that the debt collector does not have such powers as the debt collector. He can not take over the debtor’s property, nor can he collect payments from his salary or savings. It is also worth pointing out that the debt collector can not threaten the debtor and harass him – in which case we have the right to call the police.

The most common amicable debt collection takes place:

by correspondence – the debtor receives a letter about the fact that he has a debt and should pay it back, in the letter you can also find information about the consequences of non-payment, that is, referral to the court, and then the execution of bailiffs
by phone – the debt collector calls the debtor to remind him of repayment
in person – the debt collector can come personally to the home or to the debtor’s workplace
by e-mail – more and more often debt collectors also contact debtors via e-mail, for example via e-mail

Thus, debt collection companies use different methods to contact the debtor and persuade him to settle the obligation. Is it worth taking advantage of these proposals then?

Essentially, this is the best solution, taking into account the fact that we can then pay off debt on our own terms. When the case goes to the bailiff, we can not negotiate and the bailiff will be able to take on the salary, savings and the debtor’s property. The creditor also has the opportunity to indicate which assets of the debtor the execution is to be carried out.

If we decide to cooperate with the debt collector, then we can agree a repayment schedule with it, and thus we can also choose the amount of installments and the repayment date, which will be the most advantageous for us.

by Becky Billiot