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A Loan For Debt Consolidation Allows You To Pay Several Creditors With One Simple Payment}

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A Loan For Debt Consolidation Allows You To Pay Several Creditors With One Simple Payment


Robert Michael –

Paring Down Payments

A Debt consolidation loan is the creation of one new loan for the purpose of paying off all other current loans and credit card debts.

A loan for debt consolidation allows you to pay several creditors with one simple payment. A debt consolidation is considered a personal loan.

The primary purpose behind debt consolidation borrowing is to lower your interest rate while providing the debtor with a monthly payment she or he can afford. It also prevents an adverse affect to the debtor’s credit rating as well as keeping assets from risk.

A debt consolidation loan may be well advised for someone who is having a difficult time making monthly payments on current loans that carry a high rate of interest. The additional benefit of debt consolidation is that the consolidation eliminates the debtor’s contact with the various creditors. This stops collection calls and correspondence.

What you’ll need to qualify for a loan for debt consolidation:

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* A written budget, showing each month’s expenses and income.

* Proof that you have a steady source of income adequate for the repayment of the debt consolidation loan. Pay stubs and/or tax forms would suffice.

* You may need proof of collateral, such as home equity documents or car title.

* You might also need a co-signor if your credit is not adequate.

You can pay off a wide variety of debts and loans with a debt consolidation arrangement. Eligible bills include medical, credit card, retailers, personal loans, student loans and even checks returned for insufficient funds.

Before considering a debt consolidation there are several factors you should weigh. They are:

* Fees involved in consolidation. While a small fee is common, reputable debt consolidation firms will not claim to reduce the amount of debt you owe nor will they charge you a substantial upfront commission to do so.

* The consolidation interest rate. What you want is a fixed rate loan and a rate that is lower than the average rate of your current debt.

* Consolidation loan payments. You’ll want a monthly payment that is lower than the combined payments of the current debt, although this should not be accomplished by any considerable lengthening of the repayment time.

* Whether your credit rating will be negatively affected. If the consolidation firm is not clear on this, go elsewhere.

As part of your debt consolidation loan consideration you’ll want to look realistically at your total debt, determining exactly the amount you’ll need to borrow for consolidation. You should also contact all lenders and see if any will offer a settlement (keeping in mind that payoff off a settlement figure rather than total debt may negative affect your credit rating.)

Your next step would be to put down on paper your monthly budget, including all your expenses as well as your income. Do not neglect to give yourself some leeway – a small emergency or miscellaneous cost figure. Take a good hard look at what you can afford to repay if you borrow for consolidation.

Debt consolidation advantages:

* You can save money by decreasing the interest rate you are paying, which in turn decreases your monthly debt consolidation loan payment.

* You will only have one loan to worry about paying each month.

* You’ll only have one creditor to focus on, which means the others will not be contacting you.

Debt consolidation disadvantages:

* You’re probably going to be extending the time period in which you are paying your debtors, thus increasing the total cost over time.

* You may have to offer your home or your vehicle or other significant properties as collateral. This puts them at risk should you default.

Robert Michael is a writer for

Consolidate My Debts

which is an excellent place to find consolidate my debts links, resources and articles. For more information go to:

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A Loan For Debt Consolidation Allows You To Pay Several Creditors With One Simple Payment


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Step By Step Guide To The Irs Notice Cp 161}

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Step-by-Step Guide to the IRS Notice CP-161



Get to work quickly if you all of a sudden receive a Notice CP-161 from the IRS “Balance Due, Request for Payment or Notice of Unpaid Balance” in the mail from the IRS. You only have a small window of opportunity to settle your IRS situations before your circumstances go into a downward spiral. The complete title for CP-161 is “Balance Due, Request for Payment or Notice of Unpaid Balance”. Keep reading below for insider tips on how to resolve IRS Notice CP 161 and resolve any existing IRS issues.

Reasons for Applying the CP161 IRS Notice, Balance Due, Request for Payment or Notice of Unpaid BalanceThe IRS sent you CP161 “Balance Due, Request for Payment or Notice of Unpaid Balance” to notify you that your Tax Return has been adjusted, and this has resulted in a balance due to the IRS. Don’t lose sleep over fierce IRS actions yet. The IRS is not threatening you with a lien, but it could be in the near future if action to pay back the IRS is not taken as soon as you receive this notice.

Other CP161 DocumentsThe following info may be included along with IRS Notice CP 161 Balance Due, Request for Payment or Notice of Unpaid Balance. The IRS may mail out these other forms or notices along with IRS Notice CP-161 to further clarify the specifics of your tax debt situations.

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Form 2210: Underpayment of Estimated Tax by Individuals, Estates, and Trusts & Instructions

Form 2220: Underpayment of Estimated Tax by Corporations & Instructions

Form 433-B: Collection Information Statement for Businesses

Form 4977: Schedule of Tax Liability

Form 941: Schedule B, Employer’s Record of Federal Tax Liability

Form 945A: Annual Record of Federal Tax Liability

CP 161 Information

When you receive this IRS Notice in your mailbox, you need to review the payment list and verify there are no misplaced payments and that everything is correct. It’s a good idea to utilize a tax attorney, CPA, IRS-licensed enrolled agent, or a tax debt resolution company that employs all of these professionals. They will study the notice and determine what you should do from here to cut or wipe the balance you owe the IRS. Especially if your situation is significant, a Tax Debt Resolution Company or specialist such as a CPA can review your problem and aid you in solving your tax problems with their abundance of experience.

CP-161 ComplaintsIf you believe the IRS is in the wrong in issuing you IRS Notice CP 161, don’t wait to act. Work fast to make certain you are not wrongly accused of a debt you don’t really owe. The IRS will begin to withhold funds from your paycheck or savings or checking account to put towards the debt they feel you owe them if you ignore this debt dilemma instead of resolving it as quickly as you can, which is why it’s of utmost importance to take action immediately.

Selecting a Tax Debt Specialist for Guidance

Do a little research when it comes to picking tax help, and only pick the best. How long a business has been in operation demonstrates that they are trustworthy with endurance in the industry. Be certain they have been operating for at least 10 years. The Better Business Bureau (BBB) website is a great resource with pertinent info about any tax debt company you are interested in using. Look up any tax help business or professional you are interested in using at Read all of the company’s applicable information, most importantly what their rating is. You do not want to choose anyone who doesn’t have an A or A+ Rating with the Better Business Bureau (BBB).

For help with your IRS problems, go to

and contact a Tax Debt professional that can help you resolve the Tax Debt that you Owe the IRS before an IRS Levy is placed.

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Step-by-Step Guide to the IRS Notice CP-161


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Brazil Plans To Improve Chinese Toy Import Tariffs

By Himfr Echo

Brazilian Foreign Trade Commission (CAMEX) said Tuesday, in support of currency appreciation due to hit the domestic manufacturers, CAMEX decided to raise tariffs on Chinese imports of toys from the existing tax rate of 20% to 35%. Brazil’s real currency exchange rate of Chinese yuan has appreciated over the past two years about 37%.

CAMEX is the Brazilian government responsible for the management of the three functions of the department of trade is one of Brazil’s foreign trade policy-making body. Its main functions and guidelines for the development of foreign trade policies, adjust the import and export duties and evaluation of exchange rate, monetary and financial measures to the impact on foreign trade.

“Confrontation” imported toys

According to Bloomberg News on Dec. 29 quoted CAMEX’s statement said that in the end of 2011, Brazil to China produced 14 kinds of toys import tariffs from the current 20% to 35% of these toys, including dolls, puzzles, tricycles, toys and electric trains toys.

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The statement also said, CAMEX is subject to the request made by toy manufacturer in the transfer tax moves. The tariff increases will affect the January to November this year between the value of imports of about 2.9 billion related merchandise.

According to the Brazilian National Development Bank data, the exchange rate of RMB devaluation of the real impact this year in August in the year, Brazil imported goods from China amounted to 21.4 billion U.S. dollars, compared with the year 2009 150 million U.S. dollars increased by 37%. In addition, the Brazilian Toy Manufacturers Association has also said that this year’s toy sales in Brazil will reach 30 billion reais (about 18 billion U.S. dollars), of which imported products to account for about 49% market share, compared with 46.8% last year market share has slightly increased. Brazil, China Development Bank that the sharp growth in Chinese imports has affected the interests of Brazil related to the manufacturer.

Does not meet the requirements for WTO action

It is reported that this is not the first time this year, Brazilian imports from China to take restrictive measures. This year in March, CAMEX on the production of footwear from China collected $ 13.85 per pair of anti-dumping duties. May, CAMEX announcement that originated in China decided to change the taxation of glyphosate herbicide standards, the highest taxed $ 2.52 per kilogram. At the same time, CAMEX will also originated in China to make the ceramic magnet sunset review of anti-dumping final ruling, decided to levy 43% of the product concerned anti-dumping tariffs, valid for 5 years. The so-called “sunset review” refers to anti-dumping duty imposed 5 years after the expiration of the administrative review, also known as the expiry review.

Analysts say Brazil and there is a huge spread in developed economies, while developed economies since the financial crisis has been pursuing ultra-loose monetary policy, leading to the proliferation of global liquidity, a large number of sets of rate funding into Brazil and other emerging economies, leading to mine Royal exchange-rate appreciation. But this does not become a reason to raise tariffs on imported products.

China WTO Research Association Professor Zhou Shijian told reporters China Securities Journal said tariffs on Brazilian imports of Chinese toys increase is actually set up trade barriers, trade protection is an act in the World Trade Organization, China (WTO) dispute settlement mechanism to consult the relevant departments and Brazil. He said: “The Brazilian real exchange rate of the recent sharp appreciation of the dollar currency in the junk should be blamed, rather than let the yuan as a scapegoat. WTO anti-dumping countervailing and is expressly provided, no one is related to exchange rate Therefore, the Brazilian Government’s decision is inconsistent with relevant WTO provisions. “

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