Selected articles for topic: personal loan bad debt tax deduction

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What Is a Tax Impact of Writing off Bad Debt? | Chron.com

When you make a loan, either personally or as part of your business, you expect to be repaid. However, not all loans turn out well. When debt goes bad, the Internal Revenue Service permits you to claim a deduction on your income taxes. Bad debt is treated differently depending on whether it comes from your trade or business or a personal debt.

Business Versus Non-Business Debts

Business debts...

Website: http://smallbusiness.chron.com

Debt Consolidation Mortgage Loans for Homeowners

There are several debt consolidation mortgage programs that enable you to eliminate credit card debt, adjustable rate credit lines and more. Many homeowners choose a consolidation mortgage because it clears the path wisely to eliminate revolving debts and high interest penalties.

Find Out If a Mortgage for Debt Consolidation Can Save You Money!

Preferred Loan Type:

Credit Rating:

Property...

Date: 2016-08-02 21:18:13
Website: nationwidemortgages.net

Claiming a Bad Debt on Your Tax Return - Bright Hub

How Do I Write Off Bad Debt On My Tax Return?

written by: Patricia Tokar, CPAoedited by: Donna Cosmato oupdated: 1/5/2011

If someone owes you money, either from a loan or other transaction, and fails to pay you, then you likely have a bad debt. If you make efforts to collect the debt and are still not paid, then usually the bad debt can be written off on your tax return.

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Is the Debt...

Website: http://www.brighthub.com

Deducting Nonbusiness and Business Bad Debts

Bad Debts

2017-01-02

Bad debts arise because money was lent to a borrower or credit was extended to a customer for the purchase of a product or service, but the recipient was unable to partially or fully repay the liability. The following required factors determine the deductibility of bad debts:

there was a bona fide debtor-creditor relationship

the debt was worthless, meaning that there is...

Date: 2017-01-10 19:58:32
Website: http://thismatter.com

Publication 535: Business Expenses; Business Bad Debts

Definition of business bad debt

When a debt becomes worthless

How to treat business bad debts

Recovery of a business bad debt

Where to deduct business bad debts

Useful Items - You may want to see:

Publication

525 Taxable and Nontaxable Income

536 Net Operating Losses (NOLs) for Individuals, Estates, and Trusts

544 Sales and Other Dispositions of Assets

550 Investment Income and Expenses

556...

Date: 2009-02-06 21:24:14
Website: http://www.unclefed.com

Home Equity Loans Bad Credit OK - Nationwide Mortgages

Read and Review New Bad Credit Home Loan Programs

Stated Income - Home Equity Mortgage

100% CLTV- Not Available

90% CLTV- maximum loan amount-is $250,000 - Not Available

80% CLTV- maximum loan amount-is $500,000 - (see lenders for credit score standards)

In most cases lenders will require a low LTV .ie >80% for poor credit home equity loans.

For more information and a No Cost Quote

Reduced...

Date: 2017-01-13 07:02:41
Website: nationwidemortgages.net

How to Get a Home Equity Loan with Bad Credit

By Gretchen Wegrich Updated on 12/22/2014

Home Equity Loans offer low interest rates and tax deductibility, which has made this loan product popular among homeowners during the past two decades.

For borrowers with bad credit, a home equity loan can be a way to consolidate existing debt to a lower interest rate --but the risks are high, since failure to repay a home equity loan can result in the...

Website: https://www.lender411.com

How To Get A $1000 Dollar Loan Even If You Have Bad Credit

It is true that it is hard to get a 1000 dollar loan if you have a bad credit. But it doesn't mean that you don't have any options. You may have fewer choices and if there are any available loans, they may charge higher fees.

The good news is - even if your credit score is "less than perfect", there is still a chance that you can get one. The key in finding a loan is making a smart choice. ...

Website: http://www.jpost.com

Best Debt Consolidation Loan Companies for 2017 - The ...

Best Debt Consolidation Loan Companies for 2017

Manage multiple debts into one easy to make payment.

by Saundra Latham Updated on 01.26.17

When you've fallen behind on your payments, it can feel like there's nowhere to turn. One potential option to get organized and streamline your bills is debt consolidation. Debt consolidation lets you roll several debts into one loan with a lower interest rate...

Website: http://www.thesimpledollar.com

How Can I Consolidate My Debt? - NerdWallet

Should you consolidate your debt?

Ask yourself a few questions to see if debt consolidation is really what you need:

Am I serious about paying off my debt? Consolidation works best as part of a larger plan to become debt-free; it shouldn't just be a way to buy some breathing room.

If you are consolidating debt just to get a lower interest rate without really knowing how you're going to pay the...

Website: https://www.nerdwallet.com

Home Equity Loans Could Boost Your Small Business - NerdWallet

Small Business

With traditional business loans often difficult to obtain, some small business owners instead turn to their biggest asset for cash: the equity in their homes.

Statistics show that banks have pulled back hard on small business loans since 2008. Lending declined by $116 billion, or nearly 18%, from 2008 to 2011, according to a U.S. Small Business Administration (SBA) study.

Small...

Website: https://www.nerdwallet.com

Credit Union Car Loans for Bad Credit - CarsDirect

Credit union car loans traditionally require good credit for competitive rates. There are still ways to get a credit union car loan with bad credit.

Finding credit union car loans for bad credit standings can be difficult, but not impossible. Many people who have poor credit scores face the possibility of not qualifying for traditional loans at reasonable rates. Before you seek an "alternate"...

Website: carsdirect.com

Understanding Home Equity Loans and Lines of Credit - AARP

Home Equity Loans vs. Line of Credit

See which financing option fits your personal money goals and needs

by Lynnette Khalfani-Cox , January 22, 2015|

Lynnette Khalfani-Cox, "/>

With both home equity loans and HELOCs, your home is collateral for the loan. -- Istock

When you want to cash in on your home's value without selling it, you may consider getting either a home equity loan or a home equity...

Website: http://www.aarp.org

5 Ways to Borrow Money With Bad Credit - wikiHow

Getting a Loan from a Friend or Family Member

Find someone to borrow from. If you have a friend or family member who is willing to loan you some money, this may be your best option, as someone you know is more likely to loan you money on flexible terms and/or at a better rate.

Agree to terms. Make an agreement with your friend or family member about how much they are willing to loan you and...

Website: http://www.wikihow.com

Home Equity Loans and Lines of Credit - Bad Credit OK ...

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Home Equity Loans and Lines of Credit

If you own a home and have equity in it, you might consider taking out a home equity loan as a source of funds for your child's private school or college tuition. Alternatively, you might decide to refinance your mortgage to one with a lower interest rate or a longer term in order to create more discretionary income each month that can be used for...

Date: 2017-02-11 05:56:57
Website: https://www.directlendingsolutions.com

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