jeriko1013

Jaybee, what are your thoughts on those tax relief agencies? I've talked with 2 of them today, and they provided me with much info, and frankly much more helpful than the attorneys I've spoken with. Only thing is that they want the fees up front.....kinda sketchy.

Thanks again jaybee. Regardless of how my case turns out, I thank you. So far, after talking to 3 different attorneys, I haven't pulled out much info, but I did make an appointment tomorrow to evaluate my situation. Some of these attorneys are really really expensive....... I spoke with a CPA(much nicer) who said he can't do much without a 1099 form from 2002. I'll definitely post an update on the process. Thanks,

Thx Jaybee for your reply. I did not file in 2002 for the reason being that I lost money. same goes for 2003, 2004, 2005, and 2006(none of which has been an issue with the IRS). But in 2002, I'm guessing that since I didn't file, the IRS probably got a 1099 form from Etrade, and just based the net income on the total sales/purchase report, which could be erroneous if I had a position carrying over to 2003. as for the student loans. the original principal was around 72k. now after many penalties and interests, it's between 140k-150k. Is there a way to waive off the penalties and interests? I've contacted few collection agencies, and they didn't care about my financial status and my family. They flat out said you have $xxxx in the bank, $xxxx available to borrow from my credit cards, PAY NOW!!!....... I've stayed away since then. Would it be possible to consolidate these loans? I'm looking to hire a lawyer for this, but the cost is also an issue. All my loans are government loans, and there's 5 collection agencies after me as of now. I am in deep regrets and will face the issue now rather than later. My income for 2009 was 32k, 20010 was 47k. 2011 will be around 75k........would this also become an issue? thank you again.

One more thing, with regard to the 2002 tax issue, I don't have the 1099 from 2002. I called up my brokerage(ETrade), and they told me it got wiped out after 7 years, which is the regulation. So as of now, I'm without evidence that I didn't make money in 2002. How do I wage something against the IRS in this case? Would IRS share 2002's 1099form they got from ETrade? Thanks,

Hi, I'm new here. I am seeking advice on my current situation. I appreciate your time upfront. 1996-2000: Attended college and borrowed 12k. Paid off about 8k and then defaulted on 4k in 2004. 2001-2003: went to a graduate school and borrowed 72k. Never made a payment. defaulted in 2004. I get bills from 4-5 different collection agencies, and I'm clueless right now. 2002: Lost money in the stock market and didn't file for taxes. Later, IRS started sending me bills for $32K in taxes, which has increased to more than $45k due to interest and penalties. October 2005: filed for Ch 7 to clear off some credit debt($20k?? or so), but didn't help with the IRS/student loans. I was young and foolish, and I ignored phone calls and just ran from the reality. As much as I regret now, the figures have more than doubled since the default(in 2004), and I just can't handle the situation right now. I knew it would bite me some day, and I came to a decision that I should do something now rather than later. I have a wonderful family now, and I am so sorry that my family has to share this burden now. I have been working as an independent contractor since 2005, and perhaps this is why IRS/fed hasn't been able to garnish my earnings so far. I don't have much savings, and I rent. If anyone has been through what I'm going through right now, I'm desperately seeking for an advice. I really want to start on a rehab somehow, but I'm without a clear direction as of now. Any comment will be appreciated. Thanks,