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Can two debt collectors take 25 percent of your income at the same time?
Wiki User
∙ 11y ago
No. Judgment creditor garnishments or bank account levies must run consecutively.
Please note: Child support garnishments and/or tax garnishments can be enforced while a creditor garnishment is active. And in some states garnishment for spousal maintenance can be active while a creditor garnishment is being executed.
Wiki User
∙ 11y ago
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Is 40 percent gross income same with 40 percent net income?
No.
Can debt collectors call of blocked id?
Debt collectors can call with a blocked id, the same as anyone else who wishes to remain anonymous and not have their number revealed. A debt collector can not call from a number that has been blocked, however.
Should cancelled debt of the deceased be included in tax filling?
Yes the canceled debt should be included. It is the same as income. Taxes have to be paid on all income.
How does your loan affect your co signers debt to income ratio?
You and your co-signer are both responsible for the entire car payment, so the payment would be applied to their debt to income ratio just as if it would be if they were the only person on the loan. Find out what car dealers don't want you to know at www.dealertricks.com it is the same as if she was to be buying the car it looks the same on her cedit Your cosigner's debt-to-income ratio would increase, since the debt would be reflected on their credit report the same as it shows on yours. Their debt-to-income ratio will not be restored until the loan is repaid in full. This can also reduce their credit score temporarily until the account is seasoned (2 years) and the debt balance is reduced to below roughly 30% of the original balance.
Can a debt consolidation loan be taxed as income?
No. Loans are never income. You are worth no more, and no less, before or after a loan. Your liabilities went up by the same amount as an asset...generally cash).(In fact, perhaps you need to really understand that...borrowing or debt is NEVER income...do not treat it as such).Improved:However, if any of your creditors are settling with you / forgiving a part of your debt as part of the process, the amount that is forgiven CAN be reported as imputed income and taxed.
1099-A acquisition and abandonment. am I responsible for taxes?
YES YOU HAVE TO PICK THIS IS AMOUNT OF MONEY UP AS INCOME. SAME AS FORGIVEN DEBT.
1099-c from a short sale on a home?
Represents the cancellation of debt, which is income you received. The same as if the lender gave you money.
Does a Cease and Desist letter only apply to third party debt collectors?
Not just bill collectors. Under the federal Fair Debt Collection Act it can be any third party, anybody but he creditor itself, such as the creditors attorney or a bill collector. It would not apply to someone that bought the note, however. That entity would be the same as a creditor.
Are taxes on lottery winnings the same percent as other income?
At the end of the tax year after your 1040 federal income tax return is completely and correctly YES.
How is it that Australia can have a 100 percent coverage health system for about 9 percent of GDP and the USA cannot do the same for the cost of about 20 percent of GDP?
because george bush has put this country into so much debt, we need to focus on getting the hell out of all that debt before china owns the u.s.............................................................................................................................Seriously, as there is no answer, the conclusion is that the USA has a very bad Health system and it should be changed to a Nationalized system.Australia has a medicare levy of 1.5% on all income to cover most of Health Care cost.And all these scare tactics of the conservatives are just that scare tactics.
Why is reduction of debt considered income?
Anytime reduction of debt is considered income to the debtor, this means financial stability and good cash flows in business. larryadebesin.com the Ultimate Wealth Enrichment and Debt Elimination Plan will show you how to get your money's worth by systematically reducing your taxes, eliminating interest payments and increasing your cash flow all at the same time without spending any extra money.
Is the government bond the same as the fixed income securities?
Fixed Income Securities are investments in which the income or interest earning is fixed and can be predicted accurately. Bonds & Debt Mutual funds would come under Fixed Income Securities. Government Bonds are also one among the many Fixed Income Securities available for us to invest.
